Taking your brand to the digital space is not all that’s required for your business to flourish. Yes, you’ve taken the first step. But what now? Your next step is to focus all your energy in making your brand and product known to a larger audience. While you’re busy creating content that can grab eyeballs, it’s also important to direct some of your time, effort and budget in advertising on social media. A winning social media strategy can take your brand from zero to hero.
Advertising on Facebook helps you reach out to a specific target audience based on age, demographics, behaviors, languages, locations etc. These custom audiences are beneficial in reaching out to your target audience succinctly. What can help you with this? Facebook Conversion Ads! These ads work with the primary objective of getting people to take action. The action could include conversion, store visit or even catalog sales. It’s all about reaching out to your target audience in such a way that they make a commitment to buy. Hence, these are some of the important reasons why a business should select social media marketing.
How does advertising on Facebook work?
The diagram below elucidates how you can use ads at different points of the consumer funnel.
These are different stages of communication that you can use to reach out to your prospects. The first step before setting up a Facebook Conversion Ad is identifying your ‘trigger’. As mentioned above, your trigger can vary from the amount of sales you want on your website to the number of views you want on your video or a specific page you want people to land on. In a nutshell, it’s an ‘event’ that is happening on your website and you want to ensure that you reach out to more people through a series of algorithm based targeting. Thus, it is important to target people who are more likely to perform a particular ‘event’ or task on your website.
Typically, while running an ad campaign, many people blanket advertise their product to an assumed target audience. However, conversion ads are very different from this. Facebook Conversion Ads help you focus on only those set of people that are bound to perform the action or event you are looking for.
In order to set up conversion ads, it is also important to have data that can help you understand who is coming to your website, performing the desired task or event and how many of them are converting. For instance, you can reach out to only that group of people who are ‘Adding Product to Cart’ so that the number of purchases on your website increases. Thus, you can run an ad that is specifically targeted to increase ‘Add to Cart’.
Let’s take a look at how advertising on facebook works. It is important to remember that facebook conversion ads don’t offer results overnight. You might also encounter instances where it works out for you for a particular period of time after which it ceases to bring about the desired results.
In order to simplify Facebook conversion ads, let’s take a quick glance at this tree.
Imagine the tree to be your consumer base. Very often, businesses focus on climbing the tree and start plucking all the fruits from there. This is usually done using a traffic ad as it focuses on a larger audience. This implies that businesses focus on one large section of the tree where they can get more fruits, that is, a bigger section of the target audience.
On the other hand, conversion ads work towards the low-hanging fruits. Everyone who is more likely to make a purchase comes under the bandwidth of conversion ads. When you run these ads excessively, you would have to move to the higher levels of the tree gradually. This would require more energy and budget so that you can target the next level of consumers.
Thus, this approach while advertising your product helps you cater to all those people who are at the purchase level or considering your product. Traffic ads would require a lot more effort and budget as you would have to start from the top of the tree and then move to the level where people are willing to make a purchase.
For those of you who are wondering how to allocate budget for different ads, it is common to invest 50% of your budget in traffic ads and other ads, and 50% in conversion ads. However, this can significantly vary based on the level of funnel you’re at. If you have just started out, generating awareness about your product or business and increasing familiarity is of utmost importance. Once people know about your product, you can make efforts to drive traffic to your site.
In order to get the maximum results from your advertising campaigns, it’s important to run a mixture of ads. This is also because conversion ads require data to run efficiently which can be sourced only with the help of traffic ads or any other ads that run for your product or service.
The only thing you have to ensure while running ads is that people are visiting your site from Facebook so that Facebook Pixel can learn more about your site visitors. Facebook Conversion Ads will not be able to work until Facebook learns who has made a purchase out of all the people who visited your site. Facebook would then create profiles of that group of people based on their behavior, preferences or the sites they usually visit. It will then start targeting only these kinds of people who are most likely to drive sales on your website.
What is Facebook Pixel? Why should you install it?
Facebook Pixel is the most important part of Conversion ads. It is an analytics tool that enables you to measure the response and reach of your advertising strategies based on the actions people take on your website. Here are a few reasons you should install the Facebook Pixel so that you have the best converting Facebook ads.
- To find new customers or people who have visited a specific page or taken a specific action on your site
- To drive more sales. Pixel allows you to set up automatic bidding to reach out to those people who are more likely to perform the action you are interested in. For example, making a purchase.
- To measure the results and effectiveness of your ads
Facebook conversion ads are a smart way to invest your time and money in grasping the attention of people who are interested in your product. We hope you’re excited to witness how Facebook conversion campaigns can work for your business. Regardless of which ads you focus on, just remember that your copy, image, call-to-action and landing page, all work in tandem to bring out the best results.