I’ve dabbled in Facebook ads in the past, but I really haven’t given it enough of a chance to see results. Now, I’ve decided to find out if it lives up to the hype, and this time I’m going to do it right.
Facebook offers automatic ad optimization (called optimized CPM) and I never used or understood it in my previous attempts.
Create ad. Throw $30 at Facebook. Get some clicks. No Sales. $30 is gone. End of Story.
Seems pretty weak, right?
Using Automatic Ad Optimization:
Create a bunch of different ads. Choose a mid-sized audience. Install conversion tracking on my site so facebook knows which ads are generating sales. Let Facebook automatically identify and run the best ad to the best audience to get me the most sales. and Boom! I’m a billionaire.
Is it really that easy?
I’m sure it isn’t. Your ads have to be good. Your audience has to be well-chosen and highly targeted. Also, there are certain truths about purchasing psychology that play into it. Recently, a marketing friend of mine told me that a person has to encounter your product ad 3 times (on average) before they’ll be inclined to purchase. That means even if you hit the right people with the right ad, you still have to find them enough times to get it to turn into a sale.
I haven’t decided how big my ad budget is yet, but I plan to make myself a student of Facebook advertising. I’ll be meeting with my marketing friend next week to discuss it and I’m considering purchasing a course on Facebook advertising.
I’ll be sharing the things I learn on this blog, so make sure you subscribe!
Two Blog Posts I Found Useful on Facebook Ads:
Good blog post on Optimized CPM: http://allfacebook.com/dennis-yu-optimized-cpm-facebook_b103941
I also learned a lot from this post: http://www.jonloomer.com/2013/10/03/how-to-sell-on-facebook/