Have you ever read an article or listened to a podcast created for small business owners? If so, you’ve likely heard that social media is one of the best areas to invest in for free online advertising for your business.
Many businesses rely exclusively on organic growth strategies on their social media platforms. However, paid social media marketing can be an excellent complement to the work that you’re already doing via your free social media posts.
Let’s take Facebook as an example. Keep reading to learn how to create a successful paid strategy for Facebook and maximize your ROI for these ads.
How Paid Strategy on Facebook Works
To carry out a paid marketing campaign on Facebook, start by creating a Business Facebook account for your brand. Then, the platform will walk you through the steps to create your ads.
You’ll design your campaign based on your desired outcomes, budget, and where and to whom you want your ad to appear. You’ll also need to choose whether to create an image-based, video-based, or image-and-video-based ad.
How Facebook’s Ad Auction Works
Facebook requires advertisers to bid for ad placements. As a result, you are effectively competing with other brands and companies to have your ads shown to Facebook users.
The winning bidder is chosen based on several factors, including your max bid amount and the relevance of your ad to the audience. Therefore, you’ll need to set a bid amount that fits your budget but allows you to outbid your competitors successfully.
How to Create a Successful Paid Strategy on Facebook
The key to marketing businesses online isn’t just about understanding the mechanics of your advertising platform; it’s also about refining the art of creating ads that will speak to your audience.
Identify who you’re trying to reach with your ads. Most users on Facebook are between 25 and 34 years old, so it’s in your best interest to craft Facebook ads designed to reach this audience.
Additionally, your marketing team will need to decide whether images or videos will be most successful with your target audience. Plus, they’ll need to craft compelling ad copy that aligns with the visual chosen for your ad.
Finally, you’ll need to determine the proper bid per ad and overall budget for your marketing campaign.
How to Maximize Your ROI on Facebook Ads
One of the benefits of paid strategies on social is that you can easily measure your results against your goals, giving you an accurate estimate of your campaign’s return on investment (ROI).
The specifics of your strategy will determine what you should focus on. An easy place to start is with your clickthrough rate or the percentage of users who click on your ad. However, you can track many other metrics, including cost per click and impressions.
Grow Your Paid Social Media Marketing Strategy Today
If you aren’t using Facebook Ads as part of your paid social media marketing strategy, you are missing out on tremendous opportunities for increased brand awareness and sales growth.
As a full-service marketing agency, we have everything you need to help your brand thrive. At Elle Marketing and Events, we help you tell your story. From content marketing to social media management, we work with you to scale your marketing strategy and integrate your events into your overall marketing strategy.
Ready to get some support to help you tell your business’s story? Contact us today to set up a free consultation!