How to Promote Your Business on Facebook to Maximize Your Marketing ROI
“How do I advertise on Facebook?”
“How much do Facebook ads cost?”
These are the questions that come out of most people’s mouths before posting an ad on Facebook; they will most likely not convert if they are not doing research.
Many marketers promote their business to the whole world, without targeting the right people.
Or they won’t put a daily spending limit on their business to know when to stop advertising (so they bled out)
Worse yet, if you don’t have guidance on how to promote your business on Facebook, then you don’t know how much money you can spend per lead they get to make a profit!
The truth is, posting ads on Facebook can quickly deplete your bank balance if you don’t know what you’re doing.
The same applies if you go to Las Vegas! The bottom line is that you can’t just spend money on advertising and expect to get traffic / leads. You need a clearly defined goal, as well as who you want to see your ad (and who you don’t want to target).
It’s either a blowout or a bankruptcy in this industry, as you’ve probably guessed. However, if you’ve wasted money on ads, don’t despair, all is not lost … here’s more.
So what really matters when considering how to promote your business on Facebook?
You have to get the right message to the right people, at the right time. Most vendors are very good at selling world class steak to vegetarians.
A great exercise you can do is sit back and map out exactly who your ideal buyer is. Ask yourself questions like the following:
What hobbies are they interested in?
How old are they?
Where they live?
What is your income or budget?
How long have you been looking for a solution to your problem?
Not all of these questions will be relevant to your market, so it just depends on who you are marketing to. Obviously, if you offer things like insurance, age, location, and budget will be relevant.
By really thinking about who you are targeting, you will be able to target the people most likely to buy your offering. If you already have customers, see if this data is relevant to who already bought what you are selling.
There is no denying that without a new flood of interested prospects every day, you are out of business and unable to scale anything.
The right advertising will forever solve this problem and fill your portfolio with hungry buyers who already want what you have to offer.
The only way you can master advertising is by running, tracking, and testing many different ads. A good starting amount is $ 500 (or £ 300 if you’re in the UK) per month if you want to try out a lot more impulse ads.
Platforms like Facebook have a great way to track your results, but the only way you’ll be able to improve is by testing new offers to see what ‘sticks’ in the market. We hope these tips help you figure out how to promote your business on Facebook.
