Amongst the many social media platforms in this day and age, Facebook is certainly one of the biggest. It has 2.98 billion active users from all over the world! It's the primary space for running a marketing strategy of any sort.
However, plenty of corporations and organizations don't understand the power Facebook wields just yet. That's particularly troublesome because it means they are unable to make full use of its potential to turn a profit and significantly amplify ROI.
Facebook Advertising Involves More Than Funding
It's a safe enough bet to assume that with how massive Facebook is, advertising can be much like an arcade toy dispenser. Insert token, press button or pull the lever, toy pops out. That's not how it works at all; there needs to be actual work put in.
Remember the one time you were so sure you'd gotten your toy, then the crane dropped it at the last minute, leaving you mad at the machine? Keep that mental image in mind when you hear people naysaying Facebook advertising. The people who say their social media marketing campaign didn't do anything probably don't know the value of reach or were simply not diligent.
The reach of Facebook is rather intensive. Statista saw the revenue of Facebook ads to possibly hit $95 billion this year. For 2020, despite the world essentially going on pause because of the pandemic, it generated revenues of up to $81 billion.
Read on for two of the top things you absolutely have to bear in mind before investing in Facebook advertising.
- Goals Are Not Optional
You have to know what you want so you can determine the best way to get it. Business goals are no different, and in this case, serve as a touchpoint for the entire campaign. The purpose varies and with Facebook ads. It could be anything from a specific monetary figure in terms of ROI or an increase in sales or even a certain "big number milestone" (say 500,000) of followers.
There are people who have little to no concern about money as much as there's a message they need to put out, an advocacy that needs a platform, and/or brand awareness for their company, brand, or business.
The best way to go about this is through SMART Goals: specific, measurable, attainable, relevant, and time-bound.
- Plan Well
Easier said than done, yes, but setting SMART Goals make this far more convenient. It's the best way to go about choosing the parameters you want to work with on the Facebook Ads Manager. Take a general approach and a particular strategy within each approach. Make sure that while it's tied to the business goals, the plans are still somehow flexible. You never know what will happen, especially when you fire up Ads Manager. It can get pretty confusing, and inexperience can lead to some rather precarious situations.
With nearly 3 billion active users, Facebook is easily the biggest social media platform on the planet. That's also why it's prime space for advertisers to showcase their brand. Don't forget to plan well and that goals are not optional to maximize the use of Facebook Ads.
Need to start a social media strategy that works? Reach out to The Strategy Channel! We’re a Las Vegas-based full-service digital marketing agency. We can help you create and leverage your Facebook advertising to give you the results you need.