Facebook ads do not work like they used to. Their costs have increased due to the fact that the competition has grown a lot, both in ads and in “organic” terms. Today there are almost 3 billion people registered on Facebook worldwide. The numbers are even more impressive: Compared to 60 million inhabitants, there are 30 million Facebook subscribers; in theory, one out of 2 Italians frequents the social network.
In practice, this percentage increases since one can only register on the platform from 13 years of age. In my newsletter that I wrote in September, I spoke about this. And if your target is over 25, Facebook remains an absolute “placement” to consider for your ads. Still, it shouldn’t be the only one: it should be included in a global promotion strategy that perhaps also takes Google.
Table of Contents
Unfortunately, the proper attention is not paid to the analysis of the results… also because Facebook perhaps makes too much data available to us and makes us… drown among them. Always analyze the results of your Facebook ads, but don’t waste too much time: analyze the correct data. To save time, you can delegate this work to Facebook by setting up automated rules to monitor the progress of your ads.
The problem is that we don’t know that 50% is an ancient axiom of the marketing world, which in the digital age is no longer true: we can perfectly know what works and what doesn’t. On Facebook, we can easily do A/B tests and understand after a few days which variant of the parameter is making us “earn more,” to put it. A while ago, I wrote a post on this topic, and although the platform has changed slightly, the position of The Facebook A/B test can still be of great help to you.
The data that Facebook makes available to you is essential and valuable, but it must be “accompanied” by what happens on your site. You will therefore need to take advantage of the following:
Also Read: Does Your Business Need A Facebook Group?
One of the big mistakes people make is not to advertise constantly as big companies do (in your opinion, big companies with their platoons of consultants would spend a lot of money on always promoting if it weren’t necessary?) because they think they save …but let’s take an example:
Periodically checking your car costs a bit, it’s true, but it allows you to avoid sudden breakdowns and, above all, having to face huge expenses to remedy it.
Here in communication, it works the same way: Allocating a monthly budget for promotion is, in fact, a monthly expense, but it allows you to “save” when you then need to launch a new product or make ads for Christmas, Black Friday, or Valentine’s Day. And above all, it is much more profitable in terms of results. But how much should this monthly spend on Facebook ads be?
There is no fixed expense… The budget depends on your business, cash flow, “roas” (return on ads spent, i.e., the profit you get from your investment in ads), etc.
To set a starting point, you will need to know the following:
For example… Let’s assume you want to sell a course that costs €1,000 and you want to get €20,000. One of your ads refers to a free webinar, and you’ve verified that 3% of webinar participants buy the free course… i.e.30 people for every 1,000 participants. To have 30 sales, therefore, you will need to have 1,000 contacts at €10 each: in this way, you will spend €10,000 and earn €30,000 for the pre-set “profit” of €20,000. The ads system on Facebook allows you to set an average cost per result, but while, on the one hand, you won’t run the risk of spending more than what you select, on the other, it doesn’t mean that you will be able to achieve the set result.
Both of the average cost per result should increase too much, or if you shouldn’t get results with the set one, you could try to:
If your ads are “doing well,” don’t stop them once the result is achieved, but let them “run”!
To earn more (which you don’t mind, right) and test minor variations every time so you can have actual data for future campaigns.
As mentioned, Facebook makes many results available for its ads and extricating yourself from these takes work.
Facebook allows you to measure on different levels:
Ads on Facebook (and Instagram) are still effective… Only that over time, given the great competition, they have become much more expensive: in short, the times in which it was enough to invest 50 € to earn a thousand million are over… always assuming they never exist. And since you need to invest more, you need to pay much more attention to the data (not just those provided by Meta) and test, always test.
Also Read: What Are Facebook Ads And What Are They For
When your two year mobile phone contract comes to an end, you might find yourself… Read More
In an era where business dynamics shift with dizzying speed, the difference between success and… Read More
Introduction Generative AI and Machine Learning models have exploded in recent times, and organizations and… Read More
Quick advances in information science are opening up additional opportunities for organizations. They can extend… Read More
When thinking about the future, financial stability is an important factor that provides us with… Read More
It may have been a long time since you had to pull a handle on… Read More