How to Profitably Advertise on Facebook for Startups

The following is a guest post by Ted Chong, who runs Ice Cube Marketing, a digital marketing agency in Singapore that helps local small businesses acquire leads from channels such as Facebook and Google.


 

Startups are mostly touting new products or ways of doing things. Unlike on Google where you target users by intention, Facebook allows you to reach people even if they lack the intention or even awareness to buy your product. That presents a powerful way for startups to introduce their new product to a huge group of people in a short time. What’s more, novelty always work on Facebook. If you have a cool product, you may end up getting lots of shares for free.

Beware of a common trap though. Most startup founders are very proud of their own products (rightfully so) and think that users should feel the same way. Reality strikes when sales of products are not moving as expected, even after spending a significant sum on Facebook. A proper strategy is usually missing. Unless you are a household brand with global recognition, it is recommended that you use a low barrier offer at the heart of your Facebook campaign. For b2b industry, that includes free demo/consultation/ebook/trial while for B2C market, consider using event/workshop/samples/discount/contest. Your aim should be to start a relationship with your target audience.

That doesn’t mean that you should be spending money on Facebook without any expectations of ROI.   It is not uncommon to see people getting obsessed with the number of fans and likes they receive on Facebook. You should instead employ direct response advertising to achieve your business goals. Set your objective on Facebook as website clicks or conversions and Facebook will help you reach out to more people who are likely to convert. Use words and images that will evoke emotions strong enough to make your prospects take action such as to register for an account or to make a low-cost purchase.

If you are unsure what works, you can always spend a small amount to test out a particular combination of offer, ad image, ad copy, etc. Once you identify the winning formula, you can then invest more to scale up your campaign. To speed up the process, make use of tools such as Facebook audience insights to gain a further understanding of your audience.

In my case, I gave away a free SEO checklist to my audience and it attracted around 200 opt-ins from Facebook. Some of them ended up buying my service, and I made 3-4 times my ad spend on Facebook! Not to mention that I get to build my email list at the same time!

At the end of the day, the winners on Facebook will be those who managed to gain an intimate understanding of their audience. It helps in every step along the way, from deciding on your targeting settings to coming up with your offer. Have your customer avatar mapped out and always refer to it while doing Facebook advertising. It will be tremendously useful.

For more examples and explanation on building a profitable Facebook ad campaign, visit https://icecube.asia/facebook-advertising-to-generate-leads-sales-for-small-businesses/.

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