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Quick Links to My Website
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Check out my author website!My latest short story, " A Touch of Charlotte," is available for Kindles, Nooks, iPads, and more. But you don't necessarily need an e-reader to access it. I have PDF versions available as well. I also invite you to check out my Facebook page. We have lots of fun and engaging conversations about books over there.  |
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Dear Robyn,
Facebook made 1.8 billion dollars in ad revenue in 2010. That's a lot of moolah, and you might be thinking, "Well, Facebook sure has done something right if it's convincing companies to spend their ad budgets on the social network." The truth is Facebook makes advertising ridiculously easy and cheap. But there's also another reason why companies are pouring their ad dollars into FB: because Facebook advertising works.
Here are six reasons why you should advertise your company on Facebook in 2011.
1. Facebook advertising allows you to target true customers. A friend of mine who recently got engaged was surprised when she started noticing Facebook ads for bride-related stuff, like wedding dresses. "How do the advertisers know I'm engaged now?" she asked. Because you told them. Sort of. See, Facebook's advertising algorithm allows you to target the information that people put in their profiles, such as their relationship status. So if you're interested in having your ads appear in front of engaged women between 25 and 35, that's exactly who you'll get.
You know the "interests" area on your personal profile? That provides a wealth of information to advertisers. While I'll confess it does have a Big Brother feel to it, you could also look at it this way: because of the targeting, you're much more likely to deliver ads to people who might really be interested in them. It's this specificity that makes Facebook so special.
While you certainly can target your ads in other media, where else but Facebook could you possibly target, say, women 18-34 who live in central Massachusetts who love Italian food fused with an Asian flair? Because people list such specific interests in their profiles, it is possible to be that targeted.
As you set up your ads in the dashboard, Facebook actually tells you your "reach" -- how many potential people match your advertising parameters. The more targeted you are, the better chance you'll get someone who'll click and become a fan.
2. You don't need to invest in ad creative. Well, not beyond getting an image-copy-combo that works. While you could farm that out to a designer and copywriter (and that's a good idea, especially if ad copy isn't your forte), I think many small business owners could do it successfully on their own, if they're willing to do a little reading and learning. To get started, review the advertising help center on Facebook. Then check out this article on creating effective FB ads. And if you do farm it out, you won't be looking at the same costs you'd incur if you were getting design creative for a half page ad in a newspaper or magazine.
3. It's cost effective. You choose your daily limit, so your costs are fixed (no surprises). You can stop the ads at any time and adjust the daily amount at any time. So if something were to come up mid-month, for example, and you needed to redirect your Facebook ad dollars elsewhere, you could.
4. Loyal fans buy. This isn't a guess or a hunch. Studies support this. Wildfire, a respected social media marketing firm, reports, "Another social media company, Syncapse Corp., found Facebook fans spend an average of $71.84 more than non-fans over a period of two years. They also found that fans are 28% more likely to keep using a brand than non-fans; 68% of fans are 'very likely' to recommend a product in contrast to 28% of non-fans; 81% of fans feel connected to a brand versus 39% of non-fans; and the average value of a fan is $136.38."
5. Once you got 'em, you can continue to market to 'em--for free. So after the initial CPC (cost per click), marketing to that fan doesn't cost you anything but your time. Not a bad deal.
6. It works. Okay, I already mentioned this, but it's worth repeating. I know it from personal experience with my author page and with the client pages I manage.
Of course, once you have the fans, you need to engage them, which is another topic for another time. Read my 15 ideas for creating status updates that engage fans to get started.
If you do decide to advertise, let me know how it goes.
See you next month! Best,RB
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