As of September, 2016, the amount of businesses advertising on Facebook reached over 4 million. While this represents a small percentage of the 60 million businesses who possess active Pages on Facebook, the upward trend is proof that the advertising works. In order to stay competitive within the social media market, those who haven’t yet jumped on the Facebook marketing bandwagon are going to need to climb aboard.
When assessing Facebook’s potential as a phenomenal marketing tool, consider these tidbits:
· 1.8 billion people use Facebook every month;
· One in five minutes spent on mobile devices is on either Facebook or Instagram, and;
· Facebook influences 52% of consumers’ online and off-line purchases.
Google actually reports that 74% of consumers rely on social media to make purchasing decisions . . . and since Facebook is now the most popular social media platform out there, it almost seems foolhardy not to establish a presence there. Facebook also has the highest amount of influence when it comes to affecting Google search ratings in the U.S. And that’s not all: 51% of Facebook users (which includes 95% of Millennials!) are more likely to purchase from a brand that they feel connected to through social media.
So, who benefits the most from Facebook campaigns and promotions?
1. Small Business Boost
Even though Facebook is a great medium for exploring marketing opportunities regardless of the size of your business, it’s especially effective for small businesses and upstarts. According to Statista, 63% of small businesses consider Facebook the most effective platform for their social media marketing—and the numbers support this claim.
· Luxury tanning salon, LUX, used Facebook photo ads to entice high-end clientele, boosting their sales by 27% and their customer base by 25% to the tune of a 6X return on ad spend.
· MM.LaFleur, an online clothing retailer for professional women, created link ads using targeted marketing based on Facebook’s analytics to increase its year-over-year business by six times and its new customer acquisition by 81%.
The creators of Facebook have gone out of their way to make sure that they provide effective—yet exceptionally affordable—strategies for companies who want to market using business pages. Marketing on Facebook allows fledgling companies to get the word out, informs potential customers about brand values and helps spread promotions and daily changes to merchandizing for those who haven’t yet registered for an online account.
2. Big Business Stats
As mentioned above, Facebook promotions are fantastic resources for small businesses, but they get the job done across the board without question. Facebook’s business section offers up case studies that allow potential users to see what they have to look forward to:
· Using Facebook lead ads, Teach for America doubled their online leads at a 61% lower cost per lead than with previous ads.
· The Rock’n’Roll Marathon Series saw a 52% increase in registrations year over year while enjoying a 24X return on ad spend!
· Mobil ticketing company, Gametime, increased its monthly sales by 20% (at a 34% reduction in cost per acquisition) using Facebook’s targeted mobile app ads.
· ASOS, a popular online fashion company, tripled their order intake.
· Ruby Tuesday, a national restaurant chain, was able to increase its guest count by 3.1% and net weekly sales by 2.6% by simply posting about local trends and concerns.
· Stationary bike and streaming cycling retailer, Peloton, saw 20% of online sales directly won through Facebook—that done with costs 60% lower per action than any other marketing campaign. In the same vein, Zepp, a wearable sports technology company, increased their click-through rate by .43% and saw a 3X return on ad spend with a 71% lower cost per action than other campaigns.
Marketing campaigns are trending toward Facebook because of its versatility, ease of use and affordability. It would be enough to say that its tactics increase sales, brand awareness, and loyalty while driving discovery, but when it also accomplishes these feats at a fraction of the cost of its competitors, it’s hard to ignore it as a major player in the world of online promotions and marketing tools.
3. Tips for Success
Even the most well-funded and popular businesses need to make sure they’re doing everything possible to get noticed and meet their full potential through their marketing efforts. Below are a few tips and tricks for making the most of your Facebook campaigns:
Page Insights – Facebook’s own analytics software for evaluating page engagement is a quality resource for anyone hoping to gain insight into their customers’ preferences. Use it to find out what kind of content resonates best with your regular followers or how many people called your business directly from your page, and determine response rate, check-in rate, specifics on page/section views, and demographic information.
Ads Manager – This is an all-in-one app that allows you to create ads, customize them for various devices, analyze their success and decide how they’ll run. Perfect for the do-it-yourselfer, but make sure you hire a quality marketing agency if you’re not going to dedicate a staff member (or members) to manage your social apps full-time. You have other business to worry about and want a team who knows how to put your best foot forward.
SEO – This counts in Facebook pages as well, so take advantage! Use the posts from your Facebook page wisely and include plenty of keywords that reflect what your customers will be searching the most.
Content – Consider the content that attracts the most engagement. Images drive the greatest amount of likes and shares, so get creative—just because you run a gym doesn’t mean you can’t post a picture of a cat wearing a sweatband to push your latest membership promotion. Just make sure your posts align with your brand and strike a balance between professional and personable. Also, establish social media guidelines with employees to maintain propriety and consistency.
Timing – According to the Huffington Post, Thursday and Friday tend to be the best days to post on Facebook (with a 10% engagement spike on Fridays), and the best time of day to post is between 1:00-3:00 p.m. That said, you should always take the time to check your Page Insights to assess the best engagement stats for your unique business and base post times off of that information.
Address – Make sure your page URL is memorable—since the address is easy (facebook.com/[your business name]), your customers will be able to remember it from a business card, especially if it matches your business name or slogan.
Get Social - Facebook is great for creating a feeling of community surrounding your brand. Responding to comments and resolving any complaints keeps the conversation going and gives your customers the sense of exceptional customer service you’re hopefully striving to put forth.
Contests – Who doesn’t love something for nothing? Contests are a failproof way to increase engagement on your page and attract new pairs of eyes to your product line—not only will regular customers be psyched at the chance to score free swag, but newcomers are also more apt to give their usual brands a run for their money if they can do it risk-free. To begin with, you’ll want to check out the Facebook Pages Terms to ensure that your contest doesn’t get pulled for breaking the rules. After that, get creative! Use tried and tested “like and comment to enter” formats; challenge guests to a website “scavenger hunt”; ask for photo submissions; or entice viewers to get involved by posing a fun question or interesting call-to-action. The possibilities are endless!
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