Facebook advertising is becoming increasingly more competitive. Beating the competition to the users’ News Feed and reducing costs in the process is a top priority for every marketer, but finding the right course of action isn’t easy. What can marketers do to build a cost efficient ads strategy today?
The News Feed is populated by a fair share of marketing content and Facebook is set to create a balance. It has shown time and time again that its goal is to improve the user experience first. For marketers, this means it will be more challenging to put their ads in front of their customers.
According to the COO of Facebook, Sheryl Sandberg, rather than focusing on ads quantity, the company is more focused on improving the quality of ads and targeting.
Marketers can no longer ignore how critical it is for them to build a bulletproof ads strategy if they want to keep their ads costs low. To adapt to Facebook’s mission, they only have one option. That option is to maximize advertising efficiency and here’s how:
To ensure that your posts continue to perform organically and costs remain low, the first step is to start putting your audience at the heart of your social media marketing strategy.
“Knowing your audience” is the first lesson all marketers learn, yet, it’s often forgotten in practice.
Many social media marketers today don’t clearly understand who they reach on social media beyond the obvious demographics like age and gender. Marketers set their targeting broadly hoping their message will resonate with all audience segments. In reality, their audiences are much more complex.
Not knowing who the people engaging with your brand are, what they like and want to see, is going to make it far more difficult to maintain a lasting conversation with them.
The first step towards grouping your audiences into specific segments begins with asking a few simple question:
Identifying the patterns and personalizing content to suit your audience can help you build an affinity with your customers and create more meaningful conversations.
Most brands focus most of their efforts on social media to maximize post engagements. Engagement is an industry standard when measuring social media performance, but it’s only a part of the complete picture.
Once you’ve gotten your audience engaged with your brand, the next step is to find a way to retain their attention. Unfortunately, that doesn’t always happen. Marketers invest their advertising dollars to acquire new followers, but fail to ensure they return after interacting with the brand for the first time. It means the brand has to spend money again to acquire more followers and so the story repeats itself. To beat the cycle, marketers need to focus on repeated engagement.
Repeated engagement is a clear indicator that you’ve built a strong and loyal community. To track it marketers can study their audience over a period of time and measure how many one-off engagements there are versus repeated engagements. They can further test their performance against competitors to see who has a more loyal following.
In addition to improving their content, marketers have to reassess their paid social media strategy to ensure they are getting the most out of every dollar spent. It begins by avoiding investments in content that their audiences don’t engage with.
To truly stand out from the News Feed clutter and win over the audience, marketers need to start building a deeper knowledge of their customer base, uncover what they like, how often they engage with the brand versus competitors and what types of social media content keeps them coming back.
At the cornerstone of finding these answers is data. Gathering these insights is essential to building a social media content strategy that is fully aligned with what the customers want to see. It is a necessary step towards maximizing ad spend efficiency.