How To Advertise On Facebook Without Going Broke

Chances are you’ve heard how horrible it is to advertise on Facebook. Most people say it’s a rip-off. Others say they’ve had a little bit of success with it, but would rather continue marketing via other venues. The truth is that they really don’t know what the heck they’re doing, and neither do you if you are paying (on average) a dollar per “Like” on this social platform.

Some people will tell you to put off marketing. Let’s talk about that later. For now, if your product is at least almost finished, this should be your main focus. I’d personally tell you to smack marketing right at the top of your priority list. Facebook advertising should be somewhere in your marketing plan. You shouldn’t feel afraid or intimidated of this system. Right now, put R&D and all your other worries aside. Screw them. Let’s talk about how you’re going to get some Facebook fans onboard, because people who put this off are usually very efficient at turning their startups into tiny little ghost towns that sit in the vast chasm of the Internet’s cemetery.

My point is: Don’t listen to big companies that say they’re frustrated with Facebook advertising. They’re paying loads per fan because they can’t even dial their mothers’ numbers properly without an advisor telling them what to do. I’m your advisor today, and I’ll tell you how to spend much less with a very simple advertising method:

  • Know who you’re going to appeal to, then appeal to them. When creating a Facebook “creative” ad, you can choose an age group, a gender, interests, etc.Check the trends of people currently using your product. If your product isn’t out yet, you should really start rolling out a private beta and find people interested in trying it out. You should do that when you’re almost finished. Otherwise, you’ll never know whether the product stinks like old underwear. So, once you find out what kind of crowd you’re drawing in, fill the form in as completely as you can. The narrower your target, the more money you’ll save when paying per click. Your click-through rate (CTR) will also increase dramatically. Keep this in mind with every single “creative.” Ugh, I hate using that word.
  • Advertise your page on Facebook, not some other destination. Facebook tends to get a bit hostile to ad creatives that don’t advertise Facebook pages. Just stick to advertising for your page and that’s it. You need the social interaction on your page, anyway. It’s all win-win, because you’ll be linking to your site in new updates that you make on your page. You’re better off that way, and Facebook keeps its users fenced in.
  • Don’t bid too low. Technically, Facebook allows you to bid as low as you want. Do you think this will be convenient for them? They want some moolah also, and they can certainly get a lot more from their advertising partners than they can from you. If you bid too low, Facebook is going to sweep the floor with your ads. It’s going to put them in the deepest, darkest corners of the site where no one looks. Don’t get stingy with your bid. Place your bid somewhere around their recommended amount. This recommended amount tends to fall shortly after you follow the first piece of advice I mentioned earlier.
  • Go with an advertising agency. If you’re going to get serious about Facebook advertising, and have at least a couple of grand to throw into it, look into advertising agencies like Webtrends. They usually follow these patterns to save you a load of cash as long as you dump a little bit of it their way.

Facebook advertising is a very misunderstood and underestimated source of potential clientele. You might not like working with the big brother of Big Brother, but this is probably your only hope to attaining a very feasible followership that will add meaning to what you provide. A lot can be achieved through the interaction you have with your fans on your Facebook page.

Through the methods I’ve described above, many pages have saved significantly on the amount they’ve paid per click, effectively reducing the amount of money they had to pay per fan. If you’re paying 30 cents per click and you get a fan every two clicks, you’ve actually paid 60 cents for that fan. Isn’t that better than a dollar? Many pages using Webtrends have reduced the amount of payment per fan to as little as 30 cents. It all boils down to how much a good followership is worth to you. With $1,000, 30 cents per fan will give you more than 3,000 fans. Most companies get 1,000 fans with that money.