Facebook has over 1 billion active users. The Facebook ad platform provides a way of advertising to these highly engaged users. It offers various targeting and associative options. An advertiser can select their target audience on the basis of:
- Geo targeting: Users from a particular country, city and a radius around a city can be targeted
- Interests, interest groups: Facebook users specify their interests on their profiles. Facebook also figures out their interests by the pages subscribed to by a Facebook user.
- Membership of fan pages: If you are the admin of a Fan page, you can run ads which target only members of your Fan page or only those Facebook users who are not subscribed to your fan page.
Apart from filtering the audience, there are quite a few other things which need to be looked at to get the lowest possible cost of fan acquisition.
- Ad images and ad copy – Use of eye-catching images ensure a high CTR. Ads then enjoy a CTR led boost. Every ad impression is a revenue opportunity for Facebook. Ads with higher CTR are helping Facebook, because of which such ads tend to show more for lower CPC/CPMs.
- Use of the fan page or creation of a specific landing page – The current timeline format of fan pages are somewhat less suitable for retaining new fans. A user could click on an ad to visit the fan page, interact with the various images and comments without 'liking' the page. What is the best way of avoiding this?
- How to maximize use of the 'Like' button which appears below an ad?
- Selecting between CPC and CPM ads – which format to select because Facebook has a different ad serving behaviour in each of these billing models
- Day parting and conversion rates by hour
- Number of ad copies and landing pages
- Testing, testing and more testing for steps 1 to 6.
Each one of the factors above has an impact on the cost of a fan being created.
Recently, envigo was selected as the social media advertising partner for various social media campaigns associated with the launch of ITC Grand Chola.
The Facebook advertising services started with a high fan cost. However, over the course of the campaign, the fan cost was reduced by over 75%. envigo's social media and paid advertising teams worked in close coordination to accomplish these results. From the above mentioned steps, number 7 was used the most.