How does advertising on Facebook work? Whether you’re just getting started with advertising on Facebook or you’re a pro, there are many different types of campaigns that you can use to promote your business. From retargeting campaigns to saving and custom audiences, there are a wide variety of different options to choose from. Facebook ads are not always the answer to more traffic, clients, or sales. If you’re a business with a low cost of entry like an e-commerce pushing products or a SaaS that’s driving sign-ups, it can be difficult to find success.
Using Facebook Custom Audiences to advertise is a great way to target existing customers and upsell your products. However, it’s not enough to just create the list. You need to create ad campaigns with a strategic approach. You can use Facebook’s many advertising filters to improve the relevance of your ad messages.
The Facebook Ads reporting dashboard has a cross-device view that will show you conversions on mobile. This is a great way to measure the effectiveness of your ads.
Facebook also offers a variety of Meta Sources. These include the Facebook page, your app, and other websites. Each of these sources will allow you to create a Custom Audience based on the specifics you choose.
For example, if you’re a classical musician, you may want to create a Facebook-lookalike audience of classical music fans. This will help you reach more people interested in this niche.
Using saved audiences in Facebook advertising helps you to target people who have similar interests to your existing customers. This is a helpful way to increase sales without having to spend a lot of money on getting new customers. Detailed targeting allows you to target people based on their interests, location, and demographics. It’s also possible to exclude people who have purchased your product in the past.
When creating a saved audience on Facebook, you need to specify the name and demographics of your target audience. Once you’ve done that, you can start creating ads for that audience. The name can be selected from a drop-down list, or you can create your own custom name.
Facebook’s Retargeting Campaigns
Whether your company is a startup or a giant corporation, Facebook retargeting campaigns can help you get back in touch with your customers and increase your conversion rates. This is a key step in building brand trust and making your business memorable.
A retargeting campaign uses a pixel that tracks your visitors when they click on an ad. The pixel then drops an anonymous cookie into the visitor’s browser. This notifies the provider if the visitor leaves the site. You can then create lookalike audiences based on the information gathered from this pixel. These lookalike audiences are made up of people who have interacted with your website and are in the market for your product.
Using Facebook retargeting can help you reach a wider audience than you would use a traditional Google display network. You’ll get more down-funnel traffic and lower cost-per-click averages.
Optimizing for ad delivery
Choosing the right optimization for ad delivery on Facebook can make all the difference in your success. The right optimization settings can ensure your ads reach the right audience and get the most conversions.
There are two main types of optimization options on Facebook. These include the objective and the value optimization. The objective type is best used when your audience is at the bottom of the funnel. It also works well for new target audiences.
The value optimization option focuses on controlling bids and maximizing results. It can be helpful for existing audiences with high CPMs. You can set the cost cap to target an average cost per result.
The power of lookalike audiences is another popular optimization option. The goal of this option is to find people who have similar behavior to your target audience. This can help you trigger events later in the funnel.
Cost-per-click vs cost-per-thousand impressions
Compared to the cost-per-thousand-impressions (CPM) method, a cost-per-click (CPC) method can provide a much cheaper alternative. The difference is the click-through rate (CTR). A high CTR means that more people click on your ad, which lowers your CPCs.
A lower cost-per-click means that you’ll pay less to Facebook. However, you have to make sure that your ad will reach the people who are most likely to click on the ad. You also have to be aware of the competition.
Facebook advertising costs vary depending on a number of variables. This includes the value of your ad, the size of your audience, the estimated action rate, and the auction.
To find better ways to fully capitalize on Facebook’s Ads, head on over to Digital Specialist Co. for a free consultation.