Is Facebook Right For My Business?
On 4 February 2004, the world saw the genesis of a digital platform called Facebook that would transform how business was conducted. Today, the social media juggernaut has 2.8 billion users monthly and is available in 111 languages. What started as a virtual meeting place for friends has become a bustling 24/7, 365-day sphere of digital marketing influence and profit generation for businesses if their social media strategy is implemented correctly. Are you currently marketing your brand on Facebook? If not, it’s going to be next to impossible to grab a piece of competitive market share.
Before Facebook ever graced our screens and integrated itself into our daily lives, the basic marketing concepts still held true: “Go wherever your potential customers are.” The stats don’t lie; they’re on Facebook. One of the most significant benefits of the platform is that it has allowed start-ups and SMEs to optimally scale their marketing efforts despite their budget.
In saying this, Mark Zuckerberg’s creation may have given businesses a myriad of tools to set the stage, but Facebook can’t do all the work; you need to pull the strings tactically.
It’s not going to work unless your brand evolves
If you’re one of the billions of daily users, you would have seen Facebook make tweaks, changes and add new functionality to its user interface at certain periods since its inception. This is because even Facebook must adapt to the consumers’ behaviour and expectations; the balance of power has completely shifted into the users’ hands.
So, that begs the question, how much time, money, and effort are you dedicating to keep up with the dynamic nature of digital marketing and catering to your target audience’s requirements? Here are some insights to help you along the way.
Spend money wisely
Whether you’re just starting on your Facebook marketing journey or already have a social media presence with multiple accounts, it doesn’t mean that fundamental changes need to be made to meet your goals forecast. The following advice is timeless: ensure you have a sound social media strategy in place.
An expert in the field can help you map out a logical, customised plan that takes your short, medium- and long-term goals into account. This can include a detailed budget blueprint that allocates money across the board for various paid marketing methods.
Engagement above all else
Did you get 50 new likes today? It may look positive on paper, but that doesn’t necessarily equate to 50 conversions leading to revenue-generating sales. Facebook and paid media experts focus and measure the success of campaigns on one metric: engagement.
According to Wordstream, “Your Facebook business page is a great spot to develop your brand identity and show your human side. Facebook is where you can loosen the tie a bit – don’t be afraid to be funny.”
Essentially, this means that you can cast off the shackles and find creative ways to differentiate your brand from competitors; Facebook provides you with many advertising methods to capitalise on your USP.
Types of ‘old school’ Facebook advertising methods
- Facebook promoted posts
- Sponsored stories
- Video posts
- Carousel ads
- Lead ads
- Facebook Live
These advertising methods are valuable and should be used if it aligns with your social media strategy. However, they are well-known and frequently used by millions of businesses.
Did you know these Facebook features exist?
If you want to stand apart from competitors, look at the following advanced features.
Facebook Custom Audiences
This feature allows you to connect specifically with existing customers. By interacting with them, they will feel appreciated, which in turn entrenches brand loyalty and customer lifetime value.
What you may not know is that it can be used conversely. You can exclude your existing customer database and focus on attracting new customers.
Facebook Lookalike Audience
Once you have your custom audience marketing methods honed, Lookalike Audience allows you to mirror your followers. Wordstream comments, “Lookalikes allow you to expand beyond your reach but still target people with highly specific profiles by creating audiences that look like your own targets. If you have neither a list nor a big enough Facebook following, you can still create a Lookalike Audience using a tracking pixel to create a Website Custom Audience to mirror.”
Hyper targeting options
Hyper targeting options allow you to drill down to a granular level and use an amalgamation of behaviours, demographics, geolocation data, and others to zoom in on your audience. This gives you the power to create and match offers, services and products to an exclusive segment of the community. In this case, consumer reach isn’t the key measurement metric; rather, focusing on a smaller group with a much higher percentage of completing the sales journey.
Ideal approach: Use a fusion focused marketing strategy
Don’t forget about optimisation for the desktop. While a significant proportion of your audience access Facebook via mobile devices, don’t assume that desktop may play a role in the conversion process.
The legendary copywriter Eugene Schwartz’s Five Levels of Awareness explains this concept visually.
So, if we follow Schwartz’s research, the Facebook journey to conversion begins via mobile devices and is completed through desktop computers. The key takeaway: remember to include optimisation for both mobile and non-transportable devices into your Facebook marketing strategy.
Facebook is a marketing necessity, period. However, consult social media experts to continually help you implement advanced tools to segment your audience and tailor strategies based on each segment. This will allow you to ‘reach’ everyone and create a powerful, trusted presence for your brand.