Growing a business is one thing, and scaling it is another.
The typical idea of increasing profit to a business comes from adding more people to the service and generating revenues with every new customer. This is good for the company, but you cannot call it a scalable growth.
For scalable growth, you must add revenues and resources consistently, and at an exponential rate. This attracts more consumers and ultimately leads to scalable growth. Getting consistent customers will promote exponential scaling and make it even larger. But the question of the hour is, ‘How and Where to find customers for the consistent scaling of the business?’
The easiest way to get the audience today is through social media. And when we speak of social media, can ever neglect the Facebook ads?
Through Facebook ads, not only can you find the right audience for your product/service, but also promote the services in an efficient manner. There is no limitation as you can segment the Facebook users as per your product’s specifications. You can target people based on their possibility to click on the ads, and use a lot many filters.
Facebook Ads can be a great asset to finding and targeting the right audience. However, getting the best out of the Facebook audience is not a piece of cake. That’s why we are writing this article to explain the do’s and don’ts every business should know.
Before We Start: Reasons why Facebook Ads Fail
At Troop Messenger’s we tried to market our product through Facebook. We were consistent but never got the desired results until we found why the ads weren’t working. Here’s what we were doing wrong:
1. Not Putting Ads Before The Right Audience
No matter how satisfying your product is and how good your marketing channels, you will never get the benefit if you don’t have the right audience.
There is an option on Facebook, which allows you to create a custom audience, but not everyone is aware of this. Facebook detects 1.09 billion users minimum every day, so it shouldn’t be hard to target the ad in the right domain.
The most significant advantage of Facebook ads is that it allows you to have a selective audience who will actually be curious about your offers. That explains why there was a 50% growth in advertisements from the year 2015 to 2016.
Let’s accept the truth. At Troop Messenger, we were poorly targeted ads that lead to awful site conversion, which is never the right step for scaling the business. Knowing and finding out the people who’ll be interested in your product is the first step to building your business.
2. Bidding Improperly
A lot of people will just click on ads and then don’t really buy from you. This will cost you money every time it happens. If you want to save money and make your ads cost-efficient, you should look for automatic bidding.
Facebook offers you two options for bidding, which are manual and automatic. With the manual option, you can select the amount you will spend per click. When it comes to automatic building, Facebook chooses the bid that will help you get a maximum number of clicks at the best price.
3. Not Creating Click-Worthy Ads
The basic steps for getting ad traffic is making your ads click-worthy. Even with the right kind of audience, you may get trouble with obtaining enough clicks on your ad if it’s not impressive enough.
The average click-through rate of Facebook is 0.9%. For running your ad in a news feed, it should be above 5%, and one percent is enough for an ad in the right sidebar. You just have to make sure that you are creative and are getting the attention of other users.
You can modify your ads text, color, style to make it more appealing. After making the mistake of not creating click-worthy ads for Troop Messenger, here’s what we learned and would like to suggest:
Just fit your main objective of putting the ad in front, so it catches people’s attention and makes them click it. People don’t like to research for or think a lot for something if they don’t find it interesting in one catch. That’s why your ad should be able to explain what kind of service you provide in one look.
Step to Success: What a B2B company should do to effectively market through Facebook Ads
By the time we re-evaluated our marketing strategies at Troop Messenger, we learnt where we were going wrong, and also estimated recovering strategies. Our marketing experts found exclusive tactics that worked wonders for us, and so we took the time to share the same with the world. Here’s what worked for us:
1. Types of Audience
Two main types of working audience in Facebook ads are look-alike and custom audience. They are interrelated to each other.
A lookalike audience is a specific group of people who perform similarly for a particular task. So basically, you create a group of custom audience who viewed your video.
Even if you get a 1000 people, who viewed your video, they are your custom audience, and then you make a lookalike audience based on that.
Facebook will find more than a thousand people who are similar to your custom people’s group, and it will be called as a lookalike audience. You can use it in your AdSense to scale your business.
Basically, look-alikes are the people who look very similar to the people who have already taken action on your website. So, all you need to do is build a strong custom audience list and then let Facebook make a look-alike team to ultimately have a large crowd of audience.
2. Master Marketing tips for lookalike audience
1. Look Out For Lookalike Audience
Targeting a lookalike audience is the most effective method of generating traffic on your website. They have the best click-through rates in 80% of the campaigns and the lowest cost per acquisition in 60% of campaigns.
It includes people who have visited your past websites, current website or few pages among them over a particular period. The time spent parameter can help you know how long someone stayed on your website.
For example, you can create a custom audience for 30% of all people who stayed on your product page. You can set a period and have a new custom audience list. Creating a look-alike for website page viewers will get you more traffic of people who are attentive in your service.
2. Creating A Specific Group Of Audience To Get More Lookalikes Is Very Important.
By dividing your complete audience into specific groups, you will get to understand what category of people are interested in what kind of service. You can then precisely reach your audience based on their interests.
You can make a custom ad and get more look-alikes on this category. Or you can make a custom category of people who follows a similar interest like your company. You can create personalized ads and send them to the list of your contacts as another custom list of people. All these specific custom audience groups will help you get more and more look alike.
3. Create A Lookalike Based on Top Spenders
By creating this kind of look-alike team, you will get the people who are truly interested in spending in your product. Your custom audience will be the ones who have already spent on your website. You can put some necessary information about your customers like email, contact information, and address, which will make a high-quality custom audience that can be used to create a better look alike.
4. Build A Lookalike Audience of People Who Watch 75% of Your Video
The best way to engage an audience about your work is through a video. It is the most popular method, and it is estimated to represent almost 75% of mobile data by the year 2021(wordstream.com).
It is the best way to let people know what kind of services you offer. It will keep them hooked with your video and learn about your products. You can target the people who are engaged with your work and then create a lookalike.
Doing this will increase the chances of people’s engagement with your sales and products. To get this done, you should apply a 75% viewing metric to all of your audience. This will help Facebook to categorize the people who have viewed a minimum of 75% of your video (wordstream.com).
3. Master Marketing Tips For Custom Audience
Getting good custom audience is the most important thing as you will get look-alikes based on this. The group of custom people will reflect all the other future customers of your company, so it is crucial to make this list precisely.
1. Introduce Your Service In The Market
To make a group of custom audience, you first need to introduce your service. Some proven methods to gain people’s attention towards your brand are:
- Video content that introduces your product
- Promoted posts to present your brand and unique selling propositions
- Boosted popular organic post
- Successful blog post
After that, you can manually select your audience who you think are interested in your product. But do not forget to make the customer personas as it will let you know who exactly the audience is and what interest he holds.
2. Past Website Viewers
You can get a custom audience based on the last website’s traffic. You can create separate campaigns for different services and get a separate audience list for landing in these pages. It simply means creating a custom audience for your website visitors. Apart from this, you can also target the users who have specified your product or individual pages from the site. It can help you know exactly what your customer wants and what is his niche of interest.
3. Educate Them
Once you get a custom audience, it is essential to educate them about your software and products. You should be able to convert your prospects into customers. To drive a conversation between you and your customers, some important tips are:
- Product Ads
- Lead ads
- Event Ads
- Dynamic product ads
- App installment ads
Tell the customers about new product launches and marketing. Keep them updated with any latest news about your software or product services.
Marketing for the visitors who have always been interested in your services will save your budget and help to increase your conversations. Making it possible through digital marketing is now much better than traditional marketing as it can gather a huge crowd of audience.
You can reach your previous audience and start giving extra incentive to purchase. Remarketing helps you to get more traffic and increase your sales. So here are some tips on how to remarket efficiently:
1. Remarket To People Who Visit Your Page
Here you just have to assume that people who visited your website are obviously interested in your product. You can build a custom audience of people who visited your page in the past 2 months and use them for your remarketing.
2. Reach Dropouts On Social Media
You can use this technique to reduce your cart abandonment and increase your conversations. It includes tracking page visits and tracking events in Google analytics. You can find out people who went far till checkout, but their confirmation never showed up. Or you can find out the people based on the products which they put in their cart. In simple words, you can easily find people based on the products they want to buy. This will help build up a conversation between you two and introduce them to your service.
3. Use Facebook Custom Audience
While using the Facebook custom audience for remarketing, your result can be 6 times better than and your original plan. You can create a Facebook custom audience based on the customer files. Or you can create one using the viewers from past website traffic. You should retarget your landing page visitors because:
- Landing page resistors are familiar with your brand
- They are interested in a specific product
- You can create multiple landing pages specific offers relevant to went to a small audience.
4. Find New Prospects With A Lookalike Audience
Almost all companies start their campaign by making ads on Facebook and have high hopes. It doesn’t always work, and many of them go to lose because of a low budget or negative campaign.
To avoid this, you can target Facebook look like an audience. The best strategy works for people who resemble past converters and customers. It will be much easier to find new prospects as they will be based on your look-alikes.
There are many ways to using Facebook ads and several factors that decide your business’s failure or success. Knowing the causes of the failure and how to deal with it is the first step towards a successful campaign.
Speaking of success, lookalike audience has a huge potential of upscaling your business if it is used effectively. Choosing the right audience, marketing through an appropriate channel, and targeting the custom and lookalikes are the key strategies you need to focus on.
About The Author: Md Mohsin Ansari is a Marketing Manager at Troop Messenger– a smart slack alternative that comes with all the requisite features. It brings all internal communication to one place. Mohsin is accountable for analyzing the market trends, demographics, and dealing with all promotional and media channels. Connect with me on Linkedin.
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