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Advertising on Facebook is one of the bandwagons that many business owners will jump on this year to promote their products & services online, however it was actually launched back in November 2007 so it's been around for a while. I've been using Facebook's pay-per-click platform for about 12-months now and can now say, with experience, that I actually prefer it over Google's AdWords platform for a number of reasons. Before I get into that, I just want to frame this up properly and share some common stats about Facebook that you may already have heard about, but are worth being repeated: Founded in February 2004 with a $500,000 investment (followed by 2 further rounds of private investment injecting $12.7million in 2005 and $27.5million in 2006 into the company). Microsoft also took a $240million equity stake in 2007. 400million (400,000,000) active users reached in February 2010 (6 years since launch) 200million users log-in every single day Facebook stock is valued at $10billion (May 2009) There are 1.5 million business Pages created by business owners Now I'm not here to convince you that Facebook (or the Internet in general) is a powerful way of increasing the exposure of your products or services and that you must use it. The above facts speak for themselves and I merely want to show you how I use these tools and hopefully that will inspire you to look further into it for yourself. Why I prefer Facebook advertising to Google's AdWords In my opinion, not only is Facebook's platform much more user friendly than AdWords but it's far more intuitive & accurate for me to be able to really target my advertising. For example (this is an extreme example here), if I wanted to advertise a product aimed at 18-25 year olds living in London who are single female students at university who like reading about astrology and are interested in networking then I could very easily setup my advert to only target this particular demographic within Facebook. That is, of course, an extreme example but it shows how far you can drill down using the data that your target market provide on their profiles. A real example that I used for one of my Facebook ad campaigns is this: Using a Pizza Hut & Domino's Pizza affiliate scheme, I setup a Facebook advertising campaign with a budget of about Ă‚ÂŁ300 over 3 days during the week. These are the settings that I used for that particular ad:
Male 19-25 Student @ university level Location: London, Manchester & Birmingham Interests: drinking, clubbing, eating, sleeping, pizza Keywords in profile/status: hungry, pizza Timing of ad: between 5pm and 8pm on Wednesday, Thursday and Sunday You can see that I was able to drill down to the exact demographic of the user that I wanted to target with this particular ad. This avoids unnecessary 'wastage' of the ad being shown to anyone who I don't want to target. As the data is pulled directly from the user's current profile I can be confident that it is all up-to-date and accurate. Facebook also tells you how many users you will 'reach' after you have setup your ad, depending on your settings. The above ad generated enough revenue for me through my affiliate scheme to cover the ad spend of approximately Ă‚ÂŁ300 and made a tidy profit on top. This feature of being able to target viewers of your ad to such detail can be used to target users working for a specific company or competitor too. Some pointers when using Facebook ads (although most pointers here will apply to any paid advertising platform that you use online): Use images in your ads, unlike AdWords which doesn't allow images Put yourself in the mindset of your potential customer - who are they and what would they be interested in? Don't rely on one advert - use at least 2-4 ads to compare against each other and split-test Keep monitoring your ad spend & click-through-rate (CTR) Set your budget from the start & limit the daily spend to gather data Choose when to show your ad - weekends and weekdays will give very different results As with all forms of Internet marketing, especially paid advertising, you still need to ensure you have setup your adverts correctly in order to maximise the potential return. There is more to know about Facebook advertising and I will be creating a guide to using Facebook's advertising model in the near future.
Suraj Sodha is an Internet Marketer who makes the most of Web 2.0 and affiliate trend marketing to make a living from the Internet. Suraj helps business owners through his Internet Marketing blog and also runs his own workshops to teach business owners how to self-implement the strategies he uses in his own online businesses. You can see Suraj's Internet Marketing blog here - Internet Marketing blog
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