Making money from Facebook is done using digital marketing. In today’s world, advertising is no longer done only on print, radio, and television.
As digital media becomes more popular, so does digital advertising. In the past, digital advertising meant renting ad space on the sidebars of any popular website. Now, a big part of digital advertising is social media marketing.
One of the main social media sites with a lot to offer is Facebook.
The site has 2.38 billion active users every month. This means that advertising on Facebook is a sure way to get exposure to a big number of potential customers.
We know that advertising on Facebook can be overwhelming. There are very many options and it gets pretty confusing!
That’s why this guide will provide a breakdown of three small steps you can use to make big changes in your ads. We discuss the basics that you need to know about making money from Facebook, as well as tips that you can use to make them more efficient.
Making Money from Facebook: The Basics
To make sure that your ads are as efficient as possible, you need a good foundation. Thus, going back to the drawing board to evaluate your ads is important.
The first basic step to success for any ad campaign is a clear marketing strategy. A strategy will help you stay focused instead of getting dazzled by all the options on Ads Manager.
To create a strategy, ask yourself a few simple questions:
- Which specific product or service am I promoting?
- Who is my target audience?
- What is their pain point?
- What is the campaign goal?
- Which results am I looking for? Site traffic? Sales? Brand awareness? Leads?
Once you establish the specific thing you’re promoting, you will be able to make more efficient ads. Your target audience is another thing that’s important for getting results on Facebook.
Facebook can filter the audience for your ad by location, gender, race, and many other characteristics. So, if you want your product to be found by the right audience, you need to establish which one it is.
The pain point is the point which the customers are most likely to think is an obstacle. If you address this obstacle in the ad, you can attract more consumers. For example, if the pain point is that your stores are far away, offer free delivery.
Finally, you have to have a concrete campaign goal so that you can measure whether the ads are working. If the goal is brand awareness, then you can measure the post interactions.
If the goal is sales, then you can measure conversions. This way, you will have a clearer picture of how much money you are making or losing from your ads.
Optimizing the Likes and Shares of your Facebook Ads
Likes and shares are an important part of placing ads on Facebook. The number of likes and shares acts as social proof. Social proof is what customers look for to show that other people liked your product.
For example, if a clothing store has 1 million likes, a customer is more likely to shop there than if it has five likes.
So, how do you increase the likes and shares of your Facebook ads?
It all starts in the settings of your ad campaign.
When you are making a Facebook ad campaign, there are two options given: ‘Create New Ad’ or ‘Use Existing Post.’ ‘Create New Ad’ is the default setting, and it is the one people usually use.
However, ‘Use Existing Post’ is the best way to increase the social proof of your ad.
If you add a new ad to an existing post, the likes and shares of the existing ads are shared between all the posts. This means that every like and share that a previous post had is automatically added to the likes of your new post.
This will increase the clicks that your ad gets. More clicks lead to more purchases and money for your company.
Optimize the Schedule of Your Ad
Your Facebook ads might be running 24/7 so that they can reach their audience no matter what time of day it is. However, Ads Manager shows that there are days and hours where Facebook, and ad activity, are higher.
If you want to get the most conversions for the lowest cost per ad, you can use the reports of your Ads Manager. Go to the Breakdown menu and break your campaigns down by day.
If you use this option, you’ll be able to see which days and times your ads get the most clicks and conversions.
Use this schedule to place your ads. This way, you’ll be able to get the most value for your money. Your ads will only run during the times there is the most potential and engagement.
Another good reason for scheduling your ads is to reduce their frequency.
When people see your ad too often, they get tired of it. This makes them bored with your product or service. If the ads are less frequent, the consumer is more likely to be interested in it and buy it.
Making Money from Facebook: It’s Possible
As the saying goes, you have to spend money to make money. However, posting ads on social media is not a guaranteed way to get revenue back.
Sometimes, you may find that your Facebook ads are spending more money than they’re making. In the end, you might end up investing a lot of money on a Facebook ad campaign that does not give you many returns.
If you want your business to make money on Facebook, you have to optimize your ads in a way that increases profits.
In summary, making money from Facebook can be done relatively easily.
First, you need a concrete ad strategy. Secondly, you need to optimize your ads for social proof. Lastly, you should schedule your ads for maximum engagement.
Use these three easy steps to make money posting ads on Facebook, and you will definitely see a change in the engagement and conversions of your ads.
Check out this page for more information on social media for small business.