Understanding online advertising, social media advertising, and specifically Facebook advertising can be tricky. It’s easy to just spend some money and hope for the best.
Most small businesses operate this way, and it’s time to stop. Let’s start thinking strategically. Are you making any of these common Facebook ad mistakes?
Mistake #1: Ignoring Your Leads
Many times, small businesses spend a little money on ads, don’t see a huge increase in revenue, and assume it didn’t work. The more important question is – did you capture any leads? Research shows that people rarely buy products and services from first encounters with a brand. They need to learn to trust and like your brand before they’ll spend money with you.
Want a way to get over this hurdle fast? Use a tripwire. A tripwire is a special deal, discount, or promotion – think deep discounts here – that you’ll give to someone in exchange for their email address/contact information. Now you’ve made a moderate sale (revenue) and you can keep in contact with the person with hopes of future sales (lead generation).
Mistake #2: Targeting the Wrong Audience
Facebook ads are pretty cool because they are full customizable to the target audience of your choice. Play around with different audiences and see who responds best to the tripwire offer. Want to know if it’s working? If 6-10% of your targeted leads are responding, then you know you have the right audience. If not, keep adjusting until you find the right fit.
Mistake #3: Believing a Lack of Revenue from Ads is All Bad News
As we just explained, a lack of revenue from your Facebook ads directly is not necessarily a bad thing. Crunch the numbers and make sure that you are at least breaking even on the cost you are spending on leads vs. the revenue they are bringing in. Remember that the real profit will come when those nurtured leads get to know your brand and spend more money down the road.
Need help navigating Facebook ads and social media advertising in general? As a leading Dallas digital advertising agency, 214 Interactive has you covered. Call us today to set up a consultation.