acebook is visited by over 17.1 million Australians in an average four weeks reaching over 83% of Australians aged 14+ (RoyMorgan, 2019). For businesses, including those in the B2B space, advertising on Facebook therefore is simply a no-brainer. To be successful using Facebook advertising however, businesses need to take a strategic approach starting with segmenting their audience and understanding what each wants and needs and incorporating an effective campaign funnel.
Common FAQ’s on Facebook Advertising
Does Facebook advertising work?
Unless the target audience is very small and very niche thenFacebook advertising does work. To be successful however, you need a strategy and a mapped-out funnel for multiple scenarios for each of the segments you’re targeting.
Does Facebook advertising also work for B2B?
Yes, Facebook advertising works for B2B businesses but because the targeting offered is based on consumer demographics, B2B marketers need to be a bit more strategic. Ideally B2B advertisers will have a database of email addresses of their target audience that they can upload to Facebook asa custom audience and use that to create a look-a-like audience.
How much should I spend on Facebook advertising?
While each campaign will be different a good rule of thumb is to budget for around $1 per click in the beginning and optimise your campaign as you gather data. If you want leads and your offer is compelling, then perhaps you might assume that one in 10 clicks converts to a lead. 100 leads = approx.$1,000 in advertising. Remember to budget for design, asset creation and campaign management costs in addition to advertising.
Promoting a Compelling Offer
The most common pitfall of Facebook advertising (well, most advertising really) is a weak offer. Often advertisers don’t take the time to understand the specific segment of their target audience they are trying to convert and don’t take into consideration the stage of the buyer journey they are targeting. Essentially, they take a broad-brush and sales-heavy approach which to many consumers (including B2B buyers) is unappealing.
A compelling offer provides value to the consumer and solves their problems or appeals to their desires and/or fears. Advertisers must therefore thoroughly understand the audience they are targeting.
Mapping a Multi-Stage Funnel
Would you marry someone you just met? No, but you might kiss them if the match was right. In sales like in life - the bigger the commitment, the more certainty is required. Advertisers selling a low-cost, high-value item typically don’t need a complex funnel. As the cost of goods or services goes up, so too does the complexity of the funnel and the duration of the sales cycle.
The basic principle of a campaign funnel – starting with a compelling offer - addresses multiple actions as part of a bigger picture (your marketing strategy - building a database, strengthening your brand, etc.). We like to call it the “What Then” rule. Each time a target takes and action, or doesn’t take an action, ask yourself “what then?”.
Facebook Campaign Funnel Infographic
We’ve gone ahead and created a funnel infographic for you which you can see below. You can also download the Facebook Campaign Funnel Infographic to keep on file or to use in your own thought-leadership piece.
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