Facebook has come a long way in the last one year especially when it comes to advertising. It has evolved into one big marketing platform for brands all over the world. As Facebook’s COO Sheryl Sandberg says, “Facebook enables brands to find their voices… and to have genuine, personal relationships with their customers,” And certainly it does.
With more than 1 billion users now, you simply cannot avoid the power of Facebook and what wonders it can do for you and your brand. All you need is the right kind of ads for your brands to reach and connect with your target user base.
See Also: Social Media Guide For Small Businesses
Let’s take a look at different types of Ads on Facebook:
1) Promoted Posts:
Promoted Posts is a new feature launched by Facebook earlier this year that allows you to promote specific posts of your pages. This feature is only available for pages with at least 400 likes or profiles with less than 5,000 friends or subscribers. You can promote a post only within three days of its posting.
How To Promote a Post:
The promote feature is available at the bottom of every post you’ve posted recently. Click on it, set your budget, choose the payment method and you’re done. It will also show you the estimated reach of the post at that amount.
You can target the promoted posts by location or language by clicking on the public button when creating the post and adjusting the options accordingly.
Posts promotions can always be paused and restarted and you can even adjust your budget by clicking the “Promoted for $Y” at the bottom of your post & then clicking on the gear menu in the bottom-left-hand corner. You can also stop the promotion anytime by visiting the Ad Manager section on Facebook.
Why Promoted Posts is Useful:
Facebook uses an algorithm – Edgerank to rank posts in the Facebook News feed. Due to this, a regular post of your brand page reaches only 6-16 per cent of your fans. So, promoted posts can help you reach your entire fans base. Not only that, you can also gain new fans using “Promoted Posts” feature.
The promoted posts will appear in the news feed of the people who “liked” your page, and also in the news feed of the friends of all users who liked or interacted with your post on the Facebook page.
What Type of Content Should you promote?
– Photos and Videos that are most likely to go viral.
– Exclusive offers, news or events.
2) Sponsored Stories:
Sponsored stories are the stories about people liking a page or any specific post to their friends in the News Feed. So, basically these are the posts from advertisers that appear in your News feed when your friends engage with a Page, application or event that a business has paid to highlight so there is a better chance people see them.
Sponsored Stories and Promoted posts are the only ads that appear in the News Feed of Facebook’s mobile apps users, where more than 60% of Facebook users are.
Types of Sponsored Stories:
a) Page Like Story: Stories about people liking your page to their friends in the news feed. Make sure your profile picture is good enough to attract user attention and generate more likes and engagement.
b) Page Post Like Story: Stories about people liking your post to their friends in the news feed. Make sure the content of the post is good enough to generate likes and shares from users.
3) Facebook Standard Ads:
Facebook Standard Ads are those ads which are shown in the right hand column of Facebook.
Types of Facebook Standard Ads:
a) External URL(Website) Ad: You can create ads with destination URL of your website. These type of ads are used to bring traffic to your website. But Facebook charges higher rates when you direct users to an external URL.
b) Facebook Pages Ads: These type of ads are used when you want users to direct to your Facebook page.
c) Sponsored Post Ad: You can also show specific posts of your page as ads in the right hand column of Facebook.
d) Application Ad: You can direct users to your application using Facebook ads.
e) Event Ad: You can spread the word about your upcoming event using Facebook ads.
4) Facebook Exchange:
Facebook Exchange (FBX) is a new way of purchasing Facebook ads through real-time bidding using information about users collected from their visits to other sites. Using Facebook Exchange, you can serve more relevant ads to users via approved Demand-Side Platforms (DSPs) based on intent (cookie-based) data about users visiting other sites.
This feature is still in the early stages but various reports has shown that the results are off the charts and very effective.
Here’s the data from 3 companies in the Facebook Exchange(FBX) program:
- AdRoll saw 16X ROI in Facebook Exchange ads for its clients.
- TellApart clients noted a CTR of 6.65% on FBX ads, compared to 6.41% on Google’s Adwords.
- Triggit’s FBX Ads noted 4X higher return on assets (or profit), 2.2X higher post-click conversion rates, and 6.5X less cost per click-through order than on traditional ad exchanges.
5) Log out Ads:
Log-out ads are the ads that users will see after logging out of Facebook. It is a premium promotional tool and will be shown only on the log out screen. The log out ad can include anything such as photos, events, videos, etc. The user doesn’t have to be connected to that page in any way to see log out promotions.
The log out ads could cost you anywhere between Rs. 30-40 Lakhs and can only be purchased through Facebook’s Internal Sales team.
How To Improve ROI on Facebook Ads?
– Take advantage of unparalleled targeting parameters of Facebook while creating ads such as demographics, interests, connections, etc. Your ad will perform better if it is targeted to users who are interested in your product or service. For better targeting and functionality of ads, use Facebook Power Editor (facebook.com/ads/manage/powereditor/).
– Promoted posts and Sponsored stories are the most effective ads (both results in higher CTR) whether you want to increase your likes or engagement.
– Do not use only one type of ad for your brand. Try different types of ads, measure the effectiveness and focus on the one with best results.
– Try a new ad copy 1-3 times per week. Use close-up pictures of people in your ad copy or readable text with vibrant colors to increase CTR.
– Use effective call-to-action words such as ‘Grab this deal”, “Don’t miss this opportunity”, etc.
So, are you using Facebook ads? Which of these ads has proved to be most effective for your brand?