Get more bang for your buck!
Are you looking to reach & bring in new customers that are 100% interested in your products/services? Getting to know who your customers are, should be your first, most important step.
With Facebook having more than 2.2 billion monthly active users & 1 billion+ daily active users, it is imperative that you target only those who are potentially interested in your product.
Every 60 seconds, 510,000 comments are posted, 293,000 statuses are updated, 4 million posts are liked, and 136,000 photos are uploaded. That’s a lot of reach & engagement, right? That is why it is important to put your energy into connecting with a more specific & defined group within that market.
With Facebook having more than 2.2 billion monthly active users & 1 billion+ daily active users, it is imperative that you target only those who are potentially interested in your product.
Every 60 seconds, 510,000 comments are posted, 293,000 statuses are updated, 4 million posts are liked, and 136,000 photos are uploaded. That’s a lot of reach & engagement, right? That is why it is important to put your energy into connecting with a more specific & defined group within that market.
Instead of trying to reach everyone around their business, a brand uses target marketing to put their energy into connecting with a more specific & defined group within that market. Once you know who you are targeting, it is much easier to make decisions on media allocations. (This will help you save money and get a better return on investment).
Determining who your ideal customers are, allows you to focus your marketing efforts in the most cost-effective way possible, meaning your ad will produce better quality leads and won’t waste spend reaching people who aren’t going to convert or purchase. Let’s look at the types of audiences you need to consider & how you can narrow them down.
Your Core Audience is made up of the entire Facebook network. You are then able to filter based on demographics such as age, gender, location, interests, behaviors, the information you share on your profile, etc. For example, there would be no point in a wedding vendor targeting people who are not engaged. Facebook allows you to target people who recently got engaged, meaning you’ll only be paying to reach the people who are in the process of looking for your product/service.
Determining who your ideal customers are, allows you to focus your marketing efforts in the most cost-effective way possible, meaning your ad will produce better quality leads and won’t waste spend reaching people who aren’t going to convert or purchase. Let’s look at the types of audiences you need to consider & how you can narrow them down.
Your Core Audience is made up of the entire Facebook network. You are then able to filter based on demographics such as age, gender, location, interests, behaviors, the information you share on your profile, etc. For example, there would be no point in a wedding vendor targeting people who are not engaged. Facebook allows you to target people who recently got engaged, meaning you’ll only be paying to reach the people who are in the process of looking for your product/service.
Next, you have Custom Audiences. That database of past/current customers? That’s a custom audience! You can upload that data into Facebook, they match it to the information available on people's profiles and you are then able to target/retarget those people. You can also use your Pixel (more information on that another time) to create custom audiences from your website.
Lastly, we have Lookalike Audiences. These are based on your Custom Audiences. It allows you to create audiences that are similar to customers that have already interacted with your business. When you create your Lookalike Audience you can choose how similar you want them to be to your original seed (custom audience) on a scale from 1 – 10. 1 being the most similar and 10 being the least similar. An example here, if you had a subscription service and wanted to find new subscribers, you could upload your existing database and then create a Lookalike audience. You could even take it a step further and exclude your existing database to ensure your ad doesn’t reach people who have already subscribed.
If you are unsure what interests to use, have no fear. Detailed targeting is an option you can select in your Ad Set level. It allows you to refine the group of people Facebook shows your ads to, it includes information such as additional demographics, interests, and behavior. The
same goes for exclusions, if there are specific interests or behaviors you would like to exclude, you can do so here.
Ultimately, if you are looking for a way to get your advertising budget to go further, change the way you target or rather how specifically you target. This will ensure your money is spent reaching potential customers who are more likely to convert, driving more sales for your business.
Need more help? Reach out to our team today.
Happy Advertising!
Lastly, we have Lookalike Audiences. These are based on your Custom Audiences. It allows you to create audiences that are similar to customers that have already interacted with your business. When you create your Lookalike Audience you can choose how similar you want them to be to your original seed (custom audience) on a scale from 1 – 10. 1 being the most similar and 10 being the least similar. An example here, if you had a subscription service and wanted to find new subscribers, you could upload your existing database and then create a Lookalike audience. You could even take it a step further and exclude your existing database to ensure your ad doesn’t reach people who have already subscribed.
If you are unsure what interests to use, have no fear. Detailed targeting is an option you can select in your Ad Set level. It allows you to refine the group of people Facebook shows your ads to, it includes information such as additional demographics, interests, and behavior. The
same goes for exclusions, if there are specific interests or behaviors you would like to exclude, you can do so here.
Ultimately, if you are looking for a way to get your advertising budget to go further, change the way you target or rather how specifically you target. This will ensure your money is spent reaching potential customers who are more likely to convert, driving more sales for your business.
Need more help? Reach out to our team today.
Happy Advertising!
26 January 2021
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