There are many simple ways you can save money when advertising on Facebook in 2015. Here are three of the big ones.
1. Know your target customer
All too often I encounter those who have tried advertising on Facebook and have come away disgruntled due to one simple reason. They did not know their customer.
By this I mean that they did not give a lot of thought on who is the right market is for the given product. They usually have not put in much time below location. Shooting wide is the old way, it’s all there was. However in 2015 relevance is more important than ever. People legitimately get annoyed with ads that have no relevance to them and sometimes even go as far as to block them by telling Facebook they no longer want to see this ad or ads from this advertiser. A lost opportunity, a lost customer.
2. Repetitive Retargeting
Continually retargeting customers for products they have already purchased is possibly the most annoying thing I see as a customer. This post from StewArt Media highlights the great point of being shown different products in retargeting. Getting shown the same product you looked at once or worse still, a product you have already purchased is wasting your money and pissing off current and potential customers.
The best marketing is showing you something you never knew you needed and wanted. That requires time and research. Get on it.
3. Boosting Posts
Boosting a post may be a simple way to get more views and clicks with a click, but it comes with a loss of control.
This is the same as serving an ad for impressions. It’s a way, but it’s also the way when you don’t want to target or don’t know who it is, thus wasting money.
Instead, promote a post through Facebook’s Power Editor Tool. This allows you to clearly define your market and serve a more effective campaign. More bang for the bucks.
It’s fair to say that advertising on social media platforms punishes a lazy one size fits all approach. Put time into knowing your customer to get better results.