Now that you know how to gain more insight into your audience (Part 1 of series), you're ready for the next step - something that we have experienced to be key in expanding a client's customer base.
Use Targeted Ads to reach more customers
Using Facebook Ads can be an extremely cost-effective way to expand your brand. You might be wondering why on Earth you would spend money on an advertising channel that you can use for free, and that's understandable; however, some sort of advertising for your business is essential and using Facebook can deliver greater results with a significantly reduced cost to you. Additionally, you can reach way more potential customers faster than other kinds of marketing which means more bang for your buck.
Let us explain.
Newspaper advertisements can run between $50 - $100 for a small black and white space of information only, while half page or full page colors ads can run in the thousands of dollars (more if you live in a big city). Billboards can also have a hefty price tag, costing an average of about $970 in the Springfield area (https://www.timesoohmedia.com/billboard-costs/mo/springfield.php). That might not seem like that much money because, hey, those strategies have been around for years, right? So they must work. Yes, but also, maybe not as effectively as a digital platform. Print ads and billboards certainly still have their place in the marketing world, but here's one significant limitation - your audience is limited to people who either subscribe to that particular newspaper or happen to drive by whatever area your billboard is in. This means that you could be spending thousands of dollars for a fairly limited audience, because you can't make the paper boy deliver a newspaper to a person who doesn't have a subscription. So they'll never see your ad.
Enter Facebook Ads. Have you ever wondered how your personal Facebook feed became filled with things that you like? You don't even have to go look for it - it's just right there in front of you. This is the beauty of ads. People don't even have to like your Facebook Page yet to see ads from you (Ads are different than boosted posts, so stay tuned for a post on that later!). Facebook business pages allow you to target ads to specific populations based on all kinds of interests and demographic information. Since you already know how to pull data from your existing customer base, you have a good starting point to expand. Facebook lets you get crazy specific on who you want to target to, and will let you know the estimated reach per day for the amount of money you want to spend.
Here's a quick breakdown of the stats for an ad we ran for a customer:
- Length of time ad was run: 6 days
- Amount spent: $24.99
- Number of people reached: 3,021
- Number of pages likes resulting from ad: 210
That's .008 cents per view. That's so cheap.
Sure - you might not see results like that at first, but you can afford some trial and error with the low cost. We encourage you to give it a try and, as always, reach out to us for help or a consultation!