Tuesday, May 24, 2011

More in depth on Facebook advertising- Advertising on a budget.

    Lets start with the simple clicks vs. impressions.  An impression is your ad actually being showed, while a click is when someone actually clicks on your ad and is brought to your page.  Clicks cost more and have far steeper competition then impressions.  For instance a click may cost .75 cents while an impression is .10 for that .75 cents you could have 7,500 impressions and 10 clicks. This is because traditionally clicks are thought to bring more sales.  However in my experience this is not always true and since clicks cost more your ad budget can go way to fast. I have used multiple advertising platforms as stated in my previous post and have found that the best way to start is small.
     Step 1:
           Figure out a realistic advertising budget.
     Step 2:
            Write 2-3 ads using different pictures for each. Be honest and make it simple with an action word like "click here" or "buy now"
     Step 3:
             Set a low budget for the first week have each ad run for 7 days only with a budget of $1 a day. Set the ad on impressions not click through. (If you cant afford this then do $1 a day and run 1 ad for a week, then the next, and the next. This is going to save you money in the long run.)  Make sure to have it set to end in a week so you do not have to worry about remember to close it.
    Step 4:
             After the ads have run for a week look at your end stats. Look at your Ctr or click through ratio which ad had the highest click through. 

           Now if you only got one click in all three of your ads it is time to rewrite them.  It also helps to have a picture that grabs attention maybe an item you have received lots of compliments on.

    Step 5: Once you find an ad that seems to be working it is time to try targeting. Using the same group of 3 ads running for 1 week on impressions and auto stop. First thing to do is to think about what age group has your item appealed to? Do you only want to sell locally or abroad? These questions will help you target your ad to meet the customer type your looking for.  I typically set my ad to multiple age groups. (Please note that you should only target adults ie 18+ do to laws) See which demographic group had the best response to your ad. This gives you the base information you will need to run a successful ad campaign.

     This system has been successful for me personally. I have found that whether I paid by click or the much cheaper impressions I received similar click through once I got a well written ad. Remember when your ready to go to monthly advertising to set a realistic budget that you can afford. Do the math. If your ad is running daily with a max budget of $2 then that is $60 a month. 

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