In case you’ve been living under a rock, you’ll be aware of Facebook. The social media company is a giant in the world of tech and it’s primary revenue source? Facebook Ads.
In 2019, Facebook had advertising revenues of $70 billion, or £53,490,850,000 Pounds Sterling. So, how are people and businesses leveraging Facebook Ads to make money in 2020?
We’ll tell you in 4 simple steps:
1. Learn about copywriting and advert design.
In my experience, Facebook ads work best with highly visual content and simple text. Start by creating a visual image (for example people’s faces, or close-ups of your product). You do not need to be a designer to do this, just keep it simple. Your image/visuals matter the most and the text section is usually there to confirm for the user what you are trying to convey with your image. So focus first on your design and then write your copy secondly.
2. Understand the psychology and generic advertising.
Mastering the Facebook ads platform is probably only 20% of what you need to know, but it’s the most technical aspect. The other 80% comes from your ability to create strategies that speak to your audience. Just take a look at what the competition is doing. The key here is to develop soft skills and empathy / emotional intelligence so that your ads matter to your target audience.
3. Understand the metrics and KPIs you need to be tracking.
To begin tracking the results of your ads, your website should have the Facebook Pixel installed.
The Pixel will allow you to track your key performance indicators (KPIs); this could be your ad click-through rate (CTA), sales, or leads generated from your ads (conversions). Knowing what your objectives are early in a campaign is very important, this will help you to define how well your campaign is performing and ultimately how profitable it is for you.
4. Get started – You cannot begin until you begin.
If you are running a local business or niche business it’s important to get started sooner rather than later with Facebook Ads. There’s a ton of data available to gather and analyse, so it’s best to begin as soon as possible with a Facebook brand awareness campaign to build an initial audience, then move onto converting the most interested people into customers.
At my company, Firefly New Media I encourage our teams to simply get started, the sooner the better. Planning is important, but you don’t know all the issues you’ll run into, until you get started! That’s why we use Scrum, an agile framework for developing, delivering, and sustaining complex products (or Facebook Ad Campaigns). It allows our teams to deliver the most valuable features of any product (or campaign) in the quickest time possible, and with less costs.
Get the Firefly team to build your Facebook Advertising campaign, you’ll get a graphic designer, a copywriter, a video producer, and an ad manager.
We noticed an unfulfilled niche in the market. I knew I wanted to give small and medium sized businesses access to a team of marketing people who can harness the power of facebook ads and sophisicated retargetting tools for less than the cost of one full time employee in the uk. The price of putting a team together usually is out of reach for most SMEs, we wanted to change that.
For example, our campaigns start at £1000.00 a month, and that’s for a four person team ( all working on your ad strategy, creative, analytics, optimisation and retargetting).
— B. Kirkham, Firefly.