Facebook carries more than a billion users. With a database perfect for businesses, it is imperative to know a Facebook campaign that meets the budget. If done effectively, Facebook marketing carries a particular edge to many low budget entrepreneurs. It allows them to compete with companies with bigger advertising budgets. This allows businesses to maximize leads, and reach potential markets that they won’t get without Facebook.
Despite the budget friendly Facebook marketing options, there are still companies that are only willing to shell out money based on the results that they get. Affiliate marketing for instance is a great example of performance marketing.
In a nutshell, performance marketing allows the businesses to only pay for completed actions. From sales, to clicks, these are some of the things that businesses pay for. Today, Facebook marketing experts are utilizing the same concepts of performance marketing. If you plan on maximizing your budget, this is the way to go. A lot of social media agencies are still in the dark though. What are strategies that you can implement in order to get the best bang for your buck?
Facebook Performance Marketing Strategies
Facebook provides paid ads for Facebook page owners. This means that you could promote your ad and only pay for the results. You can have your ad for a month, a week or even for a couple of days. How do you maximize the ads that you sponsored? Reach can be a good metrics of knowing just how many saw your ad. But of course, engagement brings in the traffic, the leads and the sales that matter the most.
According to an independent study, sponsored photos, and posts using photos in general found in the news feed generate 14% higher ROI than a page that is just advertised on the right side of Facebook. Fortunately, you can opt to place your ad and make it appear on the news feed, rather than on the right side of Facebook. How do you do this? Making a photo post on your page, and having a short link on the description can get things done.
Also choosing between cost-per-click and cost-per-impression. When combined with web measuring tools that determine tags and keywords that convert to your site, this will most likely decrease the cost of advertisement by as much as 40%.
Lastly, you have to understand that there is no one-size-fits-all solution. You have to make sure that you find the right campaign for your company. “Test and iterate” approach is becoming popular for performance marketing. Try to see the tags and the keywords that work, as well as the perfect timing for your Facebook marketing campaign. You have to test different marketing campaigns that could potentially work for your brand. Once you find something that works and converts, that’s when you can invest.
Performance marketing is common these days. It is a perfect solution for businesses that lack the funds. Also, it is the go to answer for those who are still looking for a more efficient Facebook marketing campaign.
Do you have questions regarding Facebook Performance Marketing? If you want to know more, feel free to contact us at Strategic Mobili. With an array of social media experts, we have the experience, plus the knowledge that can cater to companies of different sizes.
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