With so many people in one virtual space on the internet, Facebook presents a huge opportunity for businesses and brands to reach out and connect with new audiences. In turn, Facebook could translate browsers into new customers. However, Facebook made the game a little harder to play back in January, as they adjusted their algorithm, which has ultimately changed everything.
Facebook’s platform has made it so that users will see more personal content in their news feeds as opposed to content from the likes of; business and brands pages, alongside alerts from the media. So, given this change, it’s a little more difficult for brands to get spotted without the use of advertising. This is where the functionality of Facebook ads come into play of online marketing.
Paying for ads on platforms such as Facebook is becoming increasingly fundamental in the process of reaching a target audience. None the less, it should be known that spending money on Facebook ads doesn’t automatically guarantee success for the given brand/ business. If you know what you’re doing, then you’ll likely find success, however, many businesses have spent good money running Facebook ads and have failed to achieve the desired results.
This is largely due to a lack of knowledge and know-how in regards to how Facebook ads work. If you want our advice, we’d suggest making sure that you know what you’re doing if you’re going to invest in running Facebook ads. However, there is always the option to hire a professional to do it for you. A great place to start planning ads no matter who is doing the leg work is within the realms of your Facebook ads audience. While most marketers and small business owners know that Facebook ads are a viable business strategy, there may be additional concerns as to how to target the right audience on Facebook.
Poor targeting of a Facebook ads audience is one of the main reasons why an ad will fail to gather any traction on this platform. So, within today’s article, we here at Rework are going to run through and break-down 5 ways to improve the performance of your Facebook ads by simply fixing your targeting:
N0.1: Facebook Ads Audience: Demographics -
When you’re setting up an ad, the first thing Facebook will ask you to do is select the location, age, and gender of your target market. For this, you’re going to need to know how to target the right audience on Facebook that will benefit your business the most. Selecting only these three targeting options is a huge mistake, as it will make your audience reach far too wide, which means the data entered is not specific enough for successful results. However, this does not mean that you should ignore them. It is equally as important to fill out the basic demographics as it is to fill out the more advanced information.
Facebook actually offers free courses on how businesses can use their targeting options. So, if you’re in need of some guidance, check out the link above for further information. If you check out their advertising course options, you will notice that there are several basic courses to help you build a solid foundation when creating Facebook ads. They recommend that you take these courses before you get into the more advanced targeting classes.
If you are a beginner, we would highly recommend that you narrow down all three basic fields for every Facebook ad that you create. Facebook ads audience targeting in particular should be your first port of call. The logic here is that even if everyone from the ages of 18 - 65 could use your product/ service so, you shouldn’t try to speak to everyone with the same ad. Realistically, one advisement will not appeal to everyone, just the same as one product, one service or even one business wouldn’t. So, every time that you create a Facebook ad that is too broad, you will be setting your business up for failure.
N0.2: Facebook Ads Audience: Interests -
Trying to target your ideal customer based on demographics alone just isn’t going to cut it. That is why you will need to be very specific with targeting a specific audience. Naturally, if your target audience is too vast, your click-through-rate will be low, which will unfortunately equate to unsuccessful ads. The best way to narrow down your ideal Facebook ads audience is by defining the interests of your ideal customer.
We would advise that you narrow down your focus as much as possible and the best way to do this is by selecting a specific interest that no one other than an avid follower would have. There are thousands of different interests you can choose to target with Facebook Ads. To find them, simply head into your Facebook ad settings and you will locate the ‘Interests’ section.
Once there, you can type any possible interest into the search box and it will populate suggestions for you. This will then generate a description of the interest and how many people on Facebook currently share it. However, it should be noted that selecting a single interest will result in far too broad of a target group. So, you will need to either select multiple intersecting interests or combine this targeting with at least one of the other methods within this article.
N0.3: Facebook Ads Audience: Ready To Purchase -
Facebook can literally tell if you’ve been online searching for something recently and are looking to purchase this product/ service. Did you know that 73% of consumers will research a product online before heading to the checkout? Facebook can identify your ideal customers who are already in the looking-to-buy stage and instantly target your ad to this group of people.
So, why is this important? Well, statistics have shown that the purchase consideration window is not very large. For most products, you will have a week or less from the time a customer starts to browse before they make a purchase. Even products worth more than $500 do not have a very large window before the browser becomes a customer. Did you also know that 54% of browsers will make their decision in less than a week even considering a purchase of this caliber?
After two weeks have passed, more than 75% of consumers will have purchased the product/ service which they have been researching. This means that for the consumers who have not heard of your brand before, you will have a small window to capture their interest before they make a purchase elsewhere with one of your competitors. Did you know that most consumers make a purchase decision based on price alone? A targeted Facebook ads audience that stumbles across a discount code could be enough to persuade them to purchase from you and not your competitor(s).
If you’re wondering how to target the right audience on Facebook in order to achieve this, head over to your business’ Facebook ads and you will come across a section called ‘Behaviors’. Once here, you will have the option to type in your own search terms, or you can use the terms that are suggested to you. There are also a are a ton of different purchasing options to choose from. Within folders, there are subfolders and so on so you are able to narrow this down to your own preferences.
If you were a seller of modern, high-end furnishings, we would suggest targeting the purchase behavior for ‘modern sofa’ as an example as opposed to ‘sofa’ or ‘furniture’ due to the broadness of these statements. Then create the ad specifically focused on the modern sofas which are for sale.
N0.4: Facebook Ads Audience: Income -
Logically, if your service or product is targeted to people of a specific income level, then your ads should be targeted the same way. Wouldn’t you agree? See, Facebook ads will allow you to target consumers through 30 different financial behaviors which should ensure that the individuals seeing your ads are the ones who are in the position to make a purchase. To target a specific Facebook ads audience in this way, head to the ‘Demographics section’ when in your business’ Facebook ads.
Once here, you will be able to project ads to users who have been targeted by; income, net worth or liquid assets. If you’re wondering how Facebook interprets a user’s income, the platform uses a host of third-party data, combined with general demographics to determine the suspected income bracket of a user. The information will be an estimate, but the data doesn’t need to be exact.
As a method, targeting by income will be more effective than trying to target everyone on Facebook. If you think about this logically, using engagement rings as a product example, what would be more successful;
1. Creating one Facebook ad which shows a mid-price range ring that you’re hoping will connect with everyone looking to make a purchase?
2. Targeting low-income male users with the most affordable rings, whilst targeting the most affluent male users with the highest-priced diamonds?
With the first technique, you’re likely going to lose both audiences, even though they’re both in the market to buy an engagement ring. So, even though it may seem like the safer option to target everyone, you will actually be selling your business’ sales potential shot, which knowing how to target the right audience on Facebook is super important.
N0.5: Facebook Ads Audience: Where It Works? -
Does your product/ service appeal to people in a particular industry, occupation or lifestyle? In the demographics section, you can narrow down your audience by work categories. See, proper planning, including knowing what your target audience does for a living is by far the best thing you could do to ensure that you are spending your financial resources wisely.
When on the Facebook Ads Manager, you will need to browse the ‘demographics’, and then select ‘work’. You will then be able to search for a specific employer, job title or industry. You will notice that the amount of people in each industry pops up on the side, however, most of these categories are way too large to be effective on their own.
Simply put, there are almost 10 million business and finance professionals on Facebook so, it works out that these groups are way too broad to act as a good target market for your business’ online marketing campaign. If you combine the chosen Facebook ads audience for your business with other variants to improve your target audience reach, or equally narrow it down by choosing specific job titles within the industry, then you should achieve better results. If you’re actively seeking a professional to help your business target the right Facebook ads audience, we’d love to assist you. Drop us an email to get started!