Facebook is free, right? Wrong. Whilst it doesn’t cost any money to create a business page or to sign up for a personal account, Facebook does make its money from selling your personal data, cloaked of course, to advertisers like us.
So whilst you can post for free and invite people to like your page for free, to really get ahead you need to pay for Facebook ads.
Facebook has numerous options on what outcome you want from your ads and how to pay for these, i.e. cpc, cpa, etc. The levels of targeting are also really unlike any other platform, dare I say it, in history. From your personal interests to your location, your political preferences to income levels, propensity to spend and much more, Facebook tracks this data.
That’s why promoted posts to new audiences and your existing followers, incentivised offers and deals are such a gold mine for advertisers. By building up a deep physographic profile of your prospects, running ads, split testing, analysing the results and then refining your campaigns, you can target your best customers and people with matching buying intent and interests in such an ROI winning way.
A lot of this is discussed in the below article, which is a good starting point for beginners. It will help you plan a starting campaign. The costs are spelled out in detail in the post. You may not have thought of all of them so this should prove helpful to you.
- When managing a Facebook Ad campaign it is crucial to understand different ad types and your budget to be most effective.
- User intent coupled with statistics are an effective way to determine what type of ad variation is most effective.
- The timing of letting your ad runs is crucial.
“Based on how the Facebook algorithm works, it will take you 72 hours for Facebook to optimize your campaign.”