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?
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:
Understand the audience segments
“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:
- What demographics already engage with your brand?
- What kind of topics do they engage with the most?
- What other interests do they have?
- What other brands do they like?
- What competitor pages do they follow?
Retain the audience and build a stronger community
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.
Boosting only the top performing content
The TakeawayTo 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.
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