More than three in seven people around the world are Facebook users. In real terms, the figure translates to over 2.7 billion active users.
What makes Facebook an effective advertising channel isn’t just its massive reach. Most importantly, it allows any mom-and-pop store to grow their business using the social media platform.
While Facebook isn’t a great equalizer, it does close the gap between the haves and have-nots.
A small business can launch a profitable advertising campaign that will help drive sales. But they must employ the right strategy to maximize returns on their investment. It’s not as simple as putting in the money and expecting some profit in return. That’s why we wrote this article on How to Advertise on Facebook in 2021 – What’s Your Facebook Advertising Strategy?
Useful strategies for your Facebook ad campaign
- Aim for authenticity – Who are you, and above all, how would you like people to see you? These are tricky questions because they do not necessarily require a simple answer. But people gravitate towards the company because they know that they are not being lied to or manipulated. Who you are will influence the tone of your voice.
- Trace your customer journey – The next step is to find out who your customers are. The customer journey is different from a customer profile. The journey begins from the time they report the problem until the time they identify a solution. Facebook Insights remains the most convenient tool for determining how your customers are interacting with your Page. It will tell you what type of advertising content to produce. Using a blog post to target your customers is a waste of money when a click through ad would have been the best choice. It all depends on the analyzes, as they will give you a precise insight into the personality of your buyer.
- Use Messenger to your advantage – Adding Messenger to your advertising content will dramatically shorten their customer journey. Clicking on Messenger will allow them to immediately connect to an account manager who can answer all their questions. You can also use bots to make your business more responsive 24/7.
- Test your ad – The pandemic has changed marketing, making it more difficult to predict customer behavior. That’s why you should always test the waters, so to speak, using A / B testing. A / B testing allows you to review different elements of your ad, including placement and content, to optimize its performance. You can compare your different ads and see which one is the most effective at reaching audiences and directing them to your sales funnel. You can even test your previous ads and see how they perform in the new landscape.
- Harnessing AI – Did you know that you can automate your ad placements to reach your audience when they’re most likely to spend? Facebook calls this liquidity, which means you are directing your money to the channel, which gives the strongest impression. Facebook found that automating bidding and placement would save the advertiser on additional costs. Machine learning also allows you to be more careful about how you allocate your ad spend.
- Take an omnichannel approach – As you may know, people use their smartphones to shop online. For example, this year, 54% of e-commerce sales will come from mobile. But that doesn’t mean you’re stacking all of your investments to serve ads targeting mobile consumers. You need to combine your approach to reach your target audience across multiple channels. It can mean digital, mobile, analog, desktop or a physical store.
What is my budget?
The big question is, how much budget should you set aside for your Facebook ad campaign?
Facebook’s ad revenue continues to grow. For example, in 2019, advertising revenue was almost 68 billion dollars, is expected to reach $ 81 billion in 2020, despite the pandemic. Meanwhile, the social media platform is expected to reach $ 95 billion this year.
Now more than ever, now is the perfect time to invest in Facebook ads as prices are generally falling. For example, in March 2020, the cost per click on the platform fell to just nine cents per click, down from 11 cents in January 2020.
The beauty of Facebook is that you can launch your campaign on a small budget. You can set a budget of 70 centavos per CPC, for example. You can start at $ 5 per day for your Facebook ads, which works out to $ 150 per month.
There are multiple elements that come into play when developing a budget strategy, and it’s best to enlist the help of a social media strategist to get the most out of your investment.
Key trends to watch
As a bonus, here are some of the trends in 2021 that could impact your Facebook advertising strategy.
- The new normal – The coronavirus has changed the landscape like no other. Even with the vaccine rollout, experts predict that 2021 will be the same as 2020 in terms of effects on nations’ economies. Business owners are on the hunt for a dime when their resources are dwindling. You need to decide whether to increase your ad spend on Facebook or be more careful with your marketing budget. However, you should know that fortune rewards the brave. Those who put in the money during the global financial crisis of the late 2000s were in a better position to take advantage of the windfall.
- The platform continues to diversify – The video remains the benchmark for Facebook ads because it elicits the most positive reaction. But lately, users are already seeing ads using augmented reality for greater impact.
- E-commerce is growing faster than ever – A consequence of the pandemic is that consumers who have never tried online shopping were buying from e-commerce sites out of necessity. According to Statistical, e-commerce sites recorded 22 billion visits in June 2020 against just over 16 billion in January 2020.
But it should be emphasized that the companies most willing to take up the new challenges are reaping the fruits of their efforts. The growth of e-commerce is particularly relevant for physical stores, which have been hit hard by the pandemic.
This article has already been published on SocialSellinator blog.