What do you do when you need to boost your business, but only have $100 to spend?
Facebook has your answer.
Whether you’re a bootstrapping entrepreneur, a product owner testing a new market, or just a savvy marketer, Facebook ads provide a golden opportunity for advertisers to reach a highly targeted audience at a fraction of the cost of other marketing efforts.
3 steps to creating a successful $100 Facebook campaign
Step 1 – Find your target. Who will you show your ads to? There are two ways to look at creating your target market, depending on your business needs.
If your goal is to increase your business leads, take a look at your current customer base and identify their key characteristics. What is their average age? Do you serve more women or men? What are their key interests?
You already know your current customer base is interested in – and likely to buy – your product or service. By targeting similar audiences on Facebook, you will often see a rapid increase in traffic, leads and ultimately revenue.
On the other hand, if your goal is to shift the quality of your customers, you’ll want to use a slightly different approach. Rather than trying to find people who are similar to your current customers, create a profile of your ideal customer. How are they different from your current customers? Do they live closer to your business? Do they have a higher income? Are they older or younger?
Once you’ve identified your ideal customer, think about what features and benefits would encourage them to buy your product or service. Then use headlines, images and messaging in your ads that will appeal to this new audience and show off those key benefits. This may not result in an immediate revenue boost; but over time, you’ll draw in more of your ideal customers and create higher long-term value for your business.
Step 2 – Create your message. Once you’ve identified your target audience, the next step is to figure out how to grab their attention. Remember, they’re going to see your ad as they’re scrolling through their Facebook page. Choose eye-catching images that will make your user pause to take a closer look at your ad.
Once you’ve gotten their attention, your headline and message should pique their interest. Most Facebook posts are short and sweet, so be sure to keep your ad in the same format. If a user wants more details, they can click on your ad to learn more.
To encourage them to click, you’ll need a strong call-to-action. Try phrases like: “Interested? Click the Sign Up button to get your free consultation,” or “Click here to claim your free coupon.”
Step 3 – Track your results. The only way to truly optimize your Facebook marketing is to track your data and analyze what works and what doesn’t. This will allow you to refine your message and your approach, which will help you further maximize your marketing budget over time.
Most Facebook ad campaigns are geared toward increasing the following specific key performance indicators (KPIs):
- Reach – How many people in your target audience saw your ad? Greater reach can promote greater awareness of your brand and make your ideal customer more likely to buy from you in the future. To expand your reach, try targeting ads to different audience segments.
- Engagement – How many people clicked on your ad? Audience engagement shows your ad was compelling enough to grab people’s attention. To improve your audience engagement, test different ad images, headlines or ad types (such as video) to see which one draws in the biggest audience.
- Traffic – Did the ad drive people to your company’s website? This is a great indicator that someone has moved from “curious audience” to “interested prospective customer.” To improve your site traffic, try creating separate ads for different landing pages on your site and see which ones perform the best.
- Leads – How many people showed an interest in learning more about your business? This could be in the form of commenting on your Facebook page or signing up for a free trial or bonus content. To increase your leads, test different calls-to-action like “Sign Up Here” or “Tell Us Your Thoughts.”
- Conversions – How many people became paying customers? This is the ultimate goal for any business, although it may take several marketing touch points before someone in your target audience converts to a paying customer. To increase your conversions, try testing different services or offers in your messaging.
Tricks for creating a successful campaign quickly
If you need to boost your results in a limited amount of time, you can maximize your $100 ad spend by repurposing some of your existing and best-performing social media content.
Take a look through your recent posts on Facebook and see which got the most likes, comments, shares or views. This will show you which topics resonate most strongly with your audience, and are therefore likely to appeal to prospective customers, as well.
Instead of creating brand new ad content, you can use Facebook’s “Boost Post” option. This allows you to turn the post itself into a Facebook ad and select an audience you would like to target. Boosted posts typically cost a little less than a regular ad, so they can be a great way to make every dollar count.
If the boosted post also performs well, you can continue that momentum by creating an ad about the same topic, and including a strong call-to-action that invites your audience to learn more about the topic or your company.
Be sure to make the most of this repurposing approach by creating a “lookalike” audience target. With this option, Facebook will automatically identify common features among your existing customers and find potential new leads with similar qualities. Since you already know that your existing audience liked this content, the odds are extremely high that you’ll draw attention from the lookalike audience as well.
Use video to improve your results
Video content has exploded in the last few years, and nowhere is this more evident than on Facebook. With more than 8 billion average daily video views and 100 million hours of video seen on the network every day, Facebook has become a video giant. As these numbers continue to grow, savvy marketers are finding that video Facebook ads pay off with huge ROI.
To create a successful video ad campaign, make sure your videos engage viewers right from the start. A study from Facebook found that viewers didn’t even have to watch the whole video ad to be impacted by the message; most of the campaign’s value was found in the first few seconds of the video:
People who watched < 3 seconds of a video ad created 47% of the campaign’s total value
People who watched < 10 seconds of a video ad created 74% of the campaign’s total value
Leverage the Facebook advantage
Facebook ads offer several significant advantages over alternative ad networks:
Lower cost per lead – Other major online ad networks, such as Google AdWords or LinkedIn, also offer highly targeted audiences, but at a much higher cost. A 2017 report from Adspresso noted the average cost to reach 1,000 people on Facebook was only $0.25, compared to $0.75 on LinkedIn and $2.75 on Google AdWords.
Reach an inaccessible audience – In the past, sending personalized messages to a target audience meant collecting individual email addresses and hoping your message didn’t go straight to the Spam folder. On Facebook, you can send specialized messages to an extremely specific group of people without needing email addresses. More importantly, you’re more likely to see results from your Facebook ad because you’re simulating a personal conversation among friends, rather than pushing a marketing message.
Make sure your message is seen – Unlike an email or other marketing messages that frequently get lost to ad filters, Facebook ads guarantee an impression when someone from your target audience opens their Facebook page. Plus, with Facebook’s advanced retargeting algorithms, you can incorporate your Facebook ad campaign into your broader online marketing strategy and create an entire series of highly targeted touch points with your ideal audience.
Pay for results, not reach – While you can opt to pay for impression-based ads, Facebook is primarily a pay-per-click platform, meaning you only pay when someone clicks your ad and becomes a lead for your business. This lets you stretch your marketing budget further, since you’re only paying when someone indicates they are actively interested in your product or service.