How to Make More Money without Spending a Fortune on Facebook Ads

By September 13, 2017Digital Marketing
How-to-make-more-money-without-spending-a-fortune-on-facebook-ads
Facebook advertising is a VERY powerful tool for business owners. It helps us reach specific and targeted audiences much better than conventional advertising methods. But, if you don’t know what you’re doing, you can end up wasting money on expensive clicks that don’t actually get you sales. So, if you’re considering running some ads for your business, read our list of Do’s and Don’ts so you can make more money without spending a fortune on Facebook Ads.

 

Make More Money – With This List of Do’s 

  • Do, Do it! – Yep, that’s right, Facebook ads WORK! They’re a snazzy little tool that a TONNE of businesses have been dropping dollars into and getting results from. So, why not benefit from Facebook ads too?

 

  • Know Your Objective – If you don’t know what result you want from your hard earned bills, then you aren’t going to know how to measure your ad’s success rate. Facebook ad objectives are separated into three categories:

Facebook Ads Campaign Objectives

  • Set Your Budget – Facebook allows you to set up your ads with different budget types like – lifetime (the total amount your willing to spend on your ad set) or daily (a limit on how much you’ll spend per day). There is even a campaign limit that you can set and when it you reach it, your ads will automatically switch off.

 

  • Know Your Audiences – Using awesome tools like audience insights, you can target some pretty in depth (and kinda creepy) characteristics about your target audience. You can target people based on:

 

  1. Demographics – like age, gender, location, education, generation, politics, relationship, work
  2. Interests – entertainment, family & relationships, fitness & wellness, hobbies & activities, shopping & fashion, etc.
  3. Behaviours – consumer classification, digital activities, purchase behaviour, seasonal & events, travel
  • Optimise & edit  – You likely won’t have amazing advertising success over night, so keep on top of your ads and edit them if they don’t perform the way you need. Make sure you give them time to work too. Usually it is good to wait a few days to a week to see if they work and take it from there. **Know how to calculate your ROI and conversions if you want to know your actual success rate!

 

  • Split Test – This is basically a way to compare your ads’ performance against each other. You can split test a variety of things, but try to only have one or two variations if you’re split testing.

 

  • Analyse Results – This is CRITICAL! If you don’t know how to understand your ad results, you won’t know what to compare or how they are actually performing. If terms like – Reach, Impressions and CTR are foreign to you, look them up. Data analysis isn’t everyone’s forte, so if you’re confused, ask someone that knows how to understand the results.

 

  • Use Re-targeting – If a person watches your video or visits your website, but doesn’t opt in to your offer, you can run a re-targeting campaign to just those people. Facebook’s re-targeting options are pretty much endless. You really don’t know much about your audience until you analyse how they are reacting to your ads and a re-targeting campaign is the best way to take advantage of that knowledge.

 

Don’t Spend a Fortune – By Following This List of Don’ts 

  • Target Broad Audiences All The Time– Facebook has a little gauge that will tell you if you’re audience is too broad or too narrow. Depending on the population size of the location you’re targeting, a good audience size is generally somewhere between 1 – 3 million people. For testing – start with a broader audience and optimise from there. Sometimes, small and specific audiences can do well too, so test out a variety. Create about 10 audiences you think might work and test all of them.

Facebook Audience Gauge

  • Mismatch Ad & Offer – Make sure your ad and your offer match up and make sense. The design of the ad should match your landing page on your website and you should make it easy for people to read, understand and opt in to your offer.

 

  • Forget Custom Audiences  – If you have a Facebook following or email list, you have the ability to create a custom audience. If you don’t want this audience to get annoyed with your ads and potentially unfollow you, then remember to exclude them from your target audience.

 

  • Have Text Heavy Ad Images – Facebook doesn’t allow you to use images that contain too much text (over 20% generally). They will show your ad to less people if you don’t abide by their guidelines.

Text rating for Facebook ads

 

  • Forget to Exclude Existing Subscribers – If you’ve got a subscriber list for your offer already, remember to exclude those people from your target audience.

 

  • Freak Out – Yes, this is a BIG don’t. Investing in paid advertising is a scary thing for most small business owners, but keep your cool amigo. This will likely be a successful ride for you if you do it right. So, trust the process and enjoy learning as much as you can from it.

 

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