To sell more, you need to go where the people are. That's exactly how marketers are reacting this year in deciding to up their activity and investment in selling on Facebook.
If you haven't already planned to put a decent portion of your marketing budget into Facebook this year, let me give you some reasons to rethink your position.
It's the Party Everybody's Going To
According to recent research, 67% of marketers plan to up their spending on social media this holiday season, and a whopping 92% of them are putting those dollars into Facebook. This shouldn't be surprising since Facebook is still far and away the biggest social network on the web, with an estimated 71% of adult Americans active there.
That's a huge chunk of the population. Better yet, it's a huge chunk of the spending population. It only makes sense that you would want to get your product or service in front of as many eyeballs as possible, since sales is always a numbers game.
It's the Best Deal Going
Exposure is great, but you also have a budget you have to work within. Marketing on Facebook is possibly the greatest bargain available to you considering the engaged reach you get for the money.
Consider that a Google Adwords campaign averages about $2.75 CPM (cost to serve 1000 ad impressions). Facebook ads have an average cost of $.25 CPM, less than 10% of the price of Adwords. Considering the time spent of the site and the engagement level of the users, that's a bargain no matter how you slice it.
When you combine these ads with the mix of your overall social media strategy it becomes even more effective, without having to spend any more. It should be a given that your website, blog, print ads, other social media accounts, and any other form of advertising you do all have a link to your Facebook page or the standard "Like us on Facebook!" call to action. This is particularly important now that Facebook has demolished the "like gate" (you can no longer give incentives for liking your page).
It's Right on Target
Before you begin any campaign, it's important to know who your target audience is, and too many make that determination based on guesses. Start by going through your sales from last year's holiday season to see what the actual demographics were. You want your money to be spent well, not based on assumptions.
Once you know who your target audience is, Facebook ads become extremely effective. That's because the platform is widely considered to be one of the most effective channels available for targeting customers based on age, gender, income, interests, education level, and other demographics.
After all, they know everything you "like", they have your personal profile information, and they can even sharpen that information down more specifically by your posts and comments. Like it or not, Facebook often knows more about their active users than friends and family might. That's targeted advertising.
4 Strategies to Optimize Your Holiday Facebook Campaigns
1. Start NOW - When is the best time for holiday advertising on Facebook? If you said Thanksgiving, Black Friday, Cyber Monday, or Christmas Eve, you missed the boat. According to research, the two week period before Thanksgiving gets more ad clicks than any time between Thanksgiving and Christmas.
Not only that, people start shopping a little earlier every year. Google predicted that 30% of holiday shoppers this year would start before Halloween. Hint: That was a couple of weeks ago.
2. Think Mobile - Mobile advertising is growing at a breakneck pace, and Facebook has bet big on it in recent years. One way to make the most of this information might be to consider your ad as a mobile ad first, and then adapt it for bigger screens if necessary. Just make sure it renders well on mobile devices whatever you do.
3. Hit Jan. 1 Hard - Gift cards have become a staple gift for the holidays, especially for younger people. Guess when they are most likely to spend those cards? Exactly.
4. Don't Target Boomers on Facebook - They're not buying there. Recent research found that 70% of the Baby Boom generation won't use social media channels in their online shopping at all. Those who will overwhelming choose Facebook, but it's still a much smaller percentage game to put money into.
Now you have the information and the motivating factors for a successful Facebook marketing campaign this holiday season. How soon will you get it motion?
Socialty is a full-service social media marketing and social recruiting agency in Chicago. We create content, websites, blog posts, email marketing and strategic marketing plans for small and medium size businesses. Our social recruiting team helps you attract talented candidates via social media outlets. Socialty connects you to your audience and potential employees. We'll keep you social while you carry on with your business. Keep Social and Carry On!