Facebook has always given companies and individuals opportunities to advertise on their website, but with Facebook becoming publicly owned recently, they’ve really created some great marketing tools for users. Facebook has an extensive database of information marketers want, but how does one use that information to their advantage? Before we go into greater detail on all the options that Facebook has, let’s go over a few general details on how Facebook uses their data base to match up your business with the right people.
Facebook uses an advertising system that is very similar to the Pay Per Click (PPC) method that search engines such as Google and Bing use. There is no set price that a user has to pay to advertise, you simply choose a dollar amount that you consider is your max budget, and Facebook will advertise to individuals based on that budget. The bigger your Facebook budget is, the better placement of ads will be within your target market. You are charged based on how many times that ad was clicked, or how many times that ad was seen. This creates a really flexible plan that businesses of all sizes can use.
When it comes to who sees your ad, Facebook has a really pinpoint system. You’re able to narrow down the location, age, and gender. You’re also able to choose from general categories such as Activities, Interests, Family Status, and many other options that Facebook users have in their “About Me” section. This allows Facebook to really narrow down who is seeing the ad, and to make sure your message is not being sent to the wrong market.
Now that you have a general understanding of how Facebook advertising works, let’s go over a few of the specific options that Facebook has to offer.
Does your company have an important event or blog post that they want potential customers to see on Facebook? Then using a promoted post would be a great option. Promoted posts allow companies to choose any post they have made on their Facebook Page, and advertise it on the right hand column. For companies that might be doing a special contest to promote their Facebook Page, this is a great opportunity to bring in new likes due to the incentive of a prize that a new follower could win by simply seeing your promoted post! This also a great tool to use if you have an event that caters to a specific audience
When you’re viewing Facebook on your normal profile, every once in a while, you’ll see one of your friends like a page in the News Feed. What Sponsored stories does, is take that same concept but apply it on the right column with your business. If Stellar Blue were to get a new like from a new fan, through sponsored stories, that new like would show up on the right hand column, along with a direct link to Stellar Blue’s Facebook Page. Facebook is now allowing these sponsored stories to be shown directly on the main newsfeed as well for added exposure. This is a great way for friends of those who like you to get added exposure of your page!
What a Sponsored Story looks like on the News Feed
With many Facebook users now accessing the site through mobile devices, Facebook has started pushing their mobile campaign. Facebook takes the Promoted Posts, and Sponsored Stories, and formats them directly into the News Feed of the mobile app for Facebook, so when you’re navigating your feed to see what your friends are doing, those ads will be seen in the middle of the feed. According to a recent Mashable Article on Facebook’s mobile advertising, ROI is actually higher with their mobile advertising compared to computer usage.
With so many options for marketers, it’s important that you keep an eye on Facebook’s advertising prospects. They are a constantly changing company, and it’s important to stay informed! To find out more on how you can use Facebook to help market your business, be sure to register for our Strengthening Facebook for Business Workshop on March 12, 2013.