The Complete Guide to Advertising on Facebook: Strategies That Convert [in 2021]
Why Advertise on Facebook?
Facebook ads are the most popular form of online advertising of our time.
Reports by Forrester Research and eMarketer show that 25% of total online spending in 2018 will go toward social media.
And, 90% of social media users are on Facebook –– which is significantly higher than the other platforms.
But beyond the famed success of Facebook Advertising for online businesses, Facebook is continually expanding its offering.
In total, you have:
- Facebook Shop: Where your Facebook fans can shop on your fan page and from which your dynamic product ads pull, as well as your Instagram Shopping catalog.
- Facebook Marketplace: Where you can engage in Etsy-like peer-to-peer selling without the fees. In addition, Facebook’s recent Marketplace update bring in Instagram-like recommendation features to expand your store’s reach.
- Facebook Dynamic Retargeting Ads: Where you can retarget users who landed on your site with similar products to what they viewed, and in which Facebook uses an algorithm to pull the products from your feed that have the highest engagement (must be using Facebook Shop for this to work).
- Shopping on Instagram: Where followers can shop tagged items in your Instagram post (must be using Facebook Shop for this to work)
- Shopping on Stories: Where followers can shop tagged items in your Instagram stories (same thing, must be using Facebook Shop for this to work).
Indeed, the Facebook ecosystem has built an ad network with substantial reach power for brands of all sizes.
There’s only one question that remains:
How do I set my own brand up for success within Facebook’s ad ecosystem?
The answer to that question depends on your budget, goals and experience. You’ll need to be able to answer additional questions, including:
- What kind of budget should you allocate to Facebook?
- How do you accurately measure your ad performance?
- What ad types should you use?
- What’s an effective way to create an audience?
And that’s what this guide is for. We are here to help you navigate the Facebook Advertising waters to ROAS (return on ad spend) success.
How to Advertise on Facebook:
- Set up your Facebook business account.
- Determine the campaign type you want to run, either cold traffic campaigns or re-marketing campaigns.
- Determine the customer awareness stage you are targeting, either awareness, consideration or conversion as outlined by Facebook’s ad manager.
- Determine your ad format, either single image, video ad, carousel, or collection.
- Choose your targeting based on Facebook’s options, including interest and brands, life event, age and gender, specific location, specific language or lookalike audiences.
- If running a lookalike campaign, download a list of your best customers from BigCommerce and upload it into Custom Audiences for a highly targeted lookalike campaign.
- Build out your Facebook ad creative.
- Determine overall budget and your return on ad spend KPI.
- Track and measure results using the Facebook pixel and a custom conversion.
- Monitor the campaign and optimize to hit your desired ROAS. You may need to update ad creative or targeting criteria.
If you are already familiar with the Facebook advertising basics, use the outline below to hop around chapters and find the information most relevant for you:
- The Basics of Facebook Ad Campaigns: How They Work and How to Make Them Effective: Discover how easy it is to start advertising on Facebook and the campaign types you should separate your marketing efforts by.
- How to Master Your Facebook Ad Targeting Strategy: Learn effective techniques to use in each campaign type, see some real examples, and how to approach measuring your results.
- Facebook Advertising Cost: Understand how to create a Facebook marketing budget by reviewing some baseline metrics and gaining insight from industry experts.
- The 8 Best Facebook Advertising Tools and Services for Ecommerce Brands: Improve your ability to integrate your products with Facebook, monitor, and report on your campaigns using these effective tools.
Think of this guide as a maturity model for Facebook advertising.
The first chapter of our Facebook ads guide will walk you through how to set everything up, and each subsequent chapter will increase in complexity until you are making more on each spend than you are paying Facebook itself.
After all, that’s the goal. It makes no sense to throw money at the wall within the Facebook ecosystem and just hope you can return back.
No, to scale your operations, you need to be able to measure effectively and forecast revenue. Facebook advertising can help –– but only if you are well prepared and set up for success.
Grab some coffee and prepare to dig in.
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