Tips to Maximise ROI For Businesses on Facebook
Improve click through rates by using content focused advertising and software
Top Tips for Facebook ROI
Thursday 7th June by Stephanie Clark
The biggest challenge with Facebook advertising is maximizing the efficiency of your ads. In short, this means getting as many Likes for as little money as possible. To help you win this challenge sooner rather than later, here are seven important facts you should know about Facebook advertising that will help you get moving in the right direction.
Facebook’s ad revenue has grown steadily since the social giant first launched paid ads five years ago. Marketers in the space have 15 unique targeting criteria, some with sub-criteria and additional options, plus the opportunity (and responsibility) to keep ads fresh and engaging with creative graphics and copy. How can marketers best cut the learning curve and take advantage of the growing opportunities in Facebook paid ads?
Content-focused and dissimilar in appearance from traditional ads, Sponsored Stories enjoy a higher click-through rate (CTR) and user engagement. Their format also allows marketers to scale back on the amount of creative they need to produce to keep ads fresh. However, 55 percent of survey respondents aren’t using them.
Utilizing ad management software, offered by many Facebook ad API partners, can help marketers manage campaigns at scale. Yet 85 percent of survey respondents aren’t using any type of ad management software, said Social Fresh.
ROI and analytics were the biggest Facebook ad challenges identified by survey respondents, together representing 68 percent of the marketers’ greatest concerns. Yet almost two-thirds of marketers aren’t using third-party analytics, says Social Fresh.
Advertising on Facebook can be a cost-effective means of bringing new people to your fan page. To truly harness the value of Facebook advertising, you’ll need to dedicate time and resources to test, analyze, monitor and tweak your ads.
There’s a reason why Facebook ad revenue is projected to be over $1.2 billion in 2010. It’s because when businesses manage them correctly, Facebook ads can be an incredibly successful and cost-effective means of tapping into Facebook’s 500 million users.