MLM Tips

Why Business Should Spend at Least $1 per Day on Facebook Ads

By Steve

With Facebook ads, we have a totally unique opportunity.

Facebook LogoThere are several things about them never before seen together:
They can reach as many people or more people as radio or TV, and in whatever country.
They have sophisticated targeting like AdWords, albeit on different criteria.
The minimum spend is just $1 per day.

They are the lowest cost per 1,000 impressions ad in history. They average around $0.25 per 1,000, which is only 1% of the cost of TV. Are you kidding me? Nope, it’s for real.

In other words, Facebook ads are mega-awareness raising, have good targeting, require very little commitment, and are unbelievably affordable.
You can’t sell to someone who doesn’t know you exist, and you can’t sell a product or service the consumer has never heard of.

fb ads stats

If you just spend $1 per day on Facebook ads, you will get in front of 4,000 people that wouldn’t have seen you otherwise. If you are doing that and your competitors aren’t, you win the awareness game in your niche.

If you can’t spare $30 a month, you shouldn’t be in business

Facebook Ads for awareness and ROI

There are enough case studies of companies getting positive ROI from Facebook advertising to know that it’s feasible. But there are a lot of companies doing Facebook poorly or without sufficient analytics. One stat said that 41% of B2B companies didn’t have the tracking in place to know what Facebook was doing for them either way. In fact, as of a 2013 HubSpot survey, 34% of businesses either cannot or do not calculate their inbound ROI at all.

There’s Facebook conversion tracking code you can use, and you can create ads that automatically optimize for conversions. Here’s how to use it:

    1. Go to the Facebook Ad Manager.
    2. Look on the left for Conversion Tracking, and click on it.
    3. Click on the green box “Create Conversion Pixel.”
    4. Give it a name you’ll recognize, and choose what kind of conversion it is (e.g. a check, lead, or add to cart).
    5. Copy the JavaScript code and give it to your website person, or place it yourself. They actually recommend placing it in the <head> section.

fb ads stats3Facebook Advertising targeting options

If you’re not super-familiar, here are some of your targeting options (use one, a combination, or all):

  1. Geography
  2. Language
  3. Age
  4. Gender
  5. Workplace
  6. College
  7. Interests (including job titles)
  8. Categories
  9. Your own email lists
  10. Relationship status
  11. Education level
  12. College major
  13. School

Facebook also has retargeting options like AdWords does if you want to diversify your owned media beyond email and fans.

Do at least $1 per day!

Altogether, Facebook advertising is a powerful platform with a lot of options, and given its power, your company should have someone testing our Facebook ads for it, even if it’s just at $1 per day!

This post was originally in YouMoz, and if want to read the full blog post, go here.