With almost half of the world in its user base, Facebook is king when it comes to advertising on social media. When Mark Zuckerberg introduced Facebook Ads in 2007, millions of companies saw a big opportunity to market their products and services. In addition to the advantage of a massive audience, advertising on Facebook is simple. Ads are a breeze to set up, and the tracking results Facebook provides for each campaign are thorough and easy to understand. Plus, Facebook advertising is generally inexpensive when compared to other advertising channels, especially when considering the incredible targeting capabilities that are available within this format. So if you aren’t advertising on Facebook, you’re missing out on the potential to reach millions of people within your target audience at a very low cost.
Are you convinced that Facebook advertising is worth your bank’s efforts and marketing budget? Great! Here’s how to get started today.
Set Clear Goals
Before launching your campaign, you must have a goal in mind. This probably sounds simple, but in fact, it’s a step many people tend to overlook. Setting a goal is necessary to properly measure the results of your campaign.
So what’s your main purpose of running ads on Facebook? Do you want more followers for your page? Do you want more leads? Do you want more engagement with your posts? The type of goal and how its results are measured are key factors in deciding how your campaign will be run. Without a goal, you’ll have no tangible results.
Target Your Audience
Facebook has 2.23 billion users worldwide, and 185 million of those are active daily users from North America. It’s not far from the truth to say that everyone is on Facebook. Your ideal audience, whether it’s a small business owner or a college student, is most likely on this social media platform.
There are three ways to target an audience on Facebook. You could select a pool of users based on Facebook’s data (demographics, interests, location, etc.), choose to advertise only to people interacting with your page, or create your own custom audience by uploading a list. Facebook can also generate a lookalike audience based on the list you provide.
Another source of data is from your competitors on Facebook. The Audience Insights tool helps you can learn the characteristics of the people who are following you or your competitor’s Facebook page, which is great information to have when determining your target audience.
From here, you can create different audience segments and even A/B test which ones perform the best. Just be sure that your target pool is big enough to cover a good amount of people, but as specific as possible to optimize for conversions.
Make a Compelling Offer
Creating a great offer requires two things: knowing what your customer wants and how to deliver the right message. Think about how you can build trust with your audience and entice them to do business with your bank using persuasive ads. Your ad will always fall flat if your offer isn’t attractive enough for people to click through. Consider evaluating your competitors’ offers and then and outsmart them by offering a better deal.
Choose Eye-Catching Images
A good image is just as important as good copy. If you don’t pick a high-quality, aesthetically pleasing image, your ad could go unnoticed. Pick an image that both relates to your audience and is relevant to your offer. And here’s a pro tip: make sure there’s less than 20% text on the image, or Facebook will punish you by showing your ad to fewer people.
Have you ever clicked on an ad, then feel like you see it everywhere after that? You’re seeing that add multiple times because the advertiser has gathered data on you, knows you’re interested in the what they’re selling, and wants to show you the ad again and again until you actually make a purchase or commitment. This is called retargeting, and it’s a very effective way to turn a lead into a successful conversion.
Studies show that for most sites, only 2% of those who visit your website convert at the first visit. Retargeting allows you to reach the remaining 98% that haven’t converted yet. This pool of people are already familiar with your brand and have shown interest in the past, so, the chances of them converting are higher versus people that are unaware.
To set up retargeting on Facebook, simply install a Facebook tracking pixel on your website. This pixel will track conversions and collect data on the people that have interacted with your ads and site.
Now that you know what it takes to have a successful mobile campaign on Facebook, it’s time to give it a try and see how it works for your bank. If you want to let the experts handle it, contact us and we’ll be happy to help you.