Did you know only about 2 percent of the people on your Facebook page actually see your posts? Crazy, right? Today I share how much to spend on Facebook ads (without breaking the bank) to guarantee your content is being seen and some tips on how to know if your ads are working—so you're not just throwing away your hard-earned money. P.S. - If you haven't already, download my free Facebook Ads Workbook for a complete step-by-step guide to creating your ads. CLICK HERE to snag a copy.
Here's the quick breakdown on what to spend and where...
Boosted posts:
These are posts you share on your Facebook page and then choose to pay to promote by hitting the "boost" button below the post. The reason why you're promoting your posts is to get more eyeballs on your content, since Facebook only shows them to a small portion of your most engaged followers (not everyone who is following you).
Let's talk numbers: If you're just starting I suggest you boost your posts for somewhere between $10-$15, and run them for 3-5 days. If you have a post you're super excited to share and have the cash flow to spend more, go for it, but I typically never spend more than $50 on my boosted posts.
Who do you boost them to? Really, you can share them with whoever you want. If you have a saved audience you've created and that's working well, you can boost it to that group with the goal of driving new traffic to your website or gaining a few new followers. However, in most cases if you have a pretty decent Facebook following you might want to boost your posts to your existing followers, people who have engaged with your Facebook page or visited your website. Why? Because these people are more likely to engage with your posts and take action since they already know who you are and like you (YAY)!
Ad campaigns (in Power Editor or Ads Manager):
These are ads we call "dark posts" meaning they are a posts that will appear in people's news feeds, on Instagram, the right column, etc. that never were posted anywhere on your Facebook page, but are created independently in Power Editor or Ads Manager and show up based on who you choose to target... make sense? These are great because you can split test multiple versions of an ad to see what's working best, plus you have way more options when it comes to your ad objective. The difference between Power Editor and Ads Manager is minimal in my opinion, now that they've made so many updates to both tools, however if you're interested in duplicating ads for testing purposes, Power Editor is much easier to use for split testing and updating multiple ads at once.
Let's talk numbers: Boosting a post literally only takes a minute if you've already saved your audiences and have your billing info active, so it's no big deal to spend 5, 10, 15 dollars here and there to boost your page's engagement. This is not the case when creating an ad campaign from scratch. There are a lot of pieces to take into consideration and you will need to give yourself at least an hour to create your new campaign. If you're building an ad for the first time it will probably take even longer, which is why I encourage you to really think through the purpose of your ad? What you are hoping to achieve? I also like to spend more on these ads because of the time commitment it takes and capabilities.
I've spent as little as $30 on ad campaigns and as much as $5,000. It really depends on if the ad is converting and generating revenue for your business. Obviously if you are closing deals left and right because of an ad, then you will be willing to spend more money. This is where tracking is key! You need to be able to determine ROI (return on investment) so you can measure success and project what you need to spend moving forward.
If you are just getting started and don't know how much you need to spend to generate a new lead or drive 1,000 people to your website, then start with what I call a "benchmark campaign." This is an ad campaign you run for anywhere from two weeks to a month with a budget of $50 - $100 with the goal of gaining insight on how well your targeting is, what your audience is interested in, if your offer is compelling enough? At the end of your ad campaign you should have numbers and data to inform how much you need to spend to get the results you are looking for. At that point you should evaluate if Facebook ads are worth investing in.
Who do you show your ad campaign to? Again, you can share them with whoever you want. If you have a saved audience you've created and that's working well, you can use that targeting group. Or you might consider showing your ads to your existing followers, people who have engaged with your Facebook page or visited your website to convert people who have expressed interest in your biz into active leads you can follow up with offline. If you don't have a lot of website traffic or an active Facebook page yet then first make sure the Facebook pixel is installed and then try out the "lookalike" custom audience option or create, save and test a few audiences based on interests, demographics and location. If you are areal estate professional you might also want to test the targeting option that allows you to reach people who are "likely to move."
One last thing to keep in mind... there is no magic formula when it comes to Facebook ads that works for everyone. If you feel like your ads are bombing and you can't figure out why, I encourage you to put yourself in the shoes of the person you are trying to reach. Would you click on your ad if it popped up randomly in your news feed or would you be annoyed? Is what your providing valuable? Is the destination you're sending people to off Facebook easy to navigate and take action? Are you delivering what you promised? No one knows your customer like you, so get in their head.
If you need help creating irresistible Facebook ads, download my free Facebook Ads Workbook for a complete step-by-step guide to creating your ads. CLICK HERE to snag a copy.
There's a lot of competition for your client's attention on Facebook, so you need to be providing something that's timed perfectly and exactly what they want to see in that moment. It may sound impossible, but it's not. It just requires you are committed to discovering new things about your customer/client, you put in the work and test and track EVERYTHING! Once you find your sweet spot I think you'll find Facebook ads are an insanely affordable way to generate new business and build your community.
Xo
CopyKat