Going into 2018, it was determined that “93% of marketers use Facebook advertising regularly, which translates to about 3 million businesses that use Facebook to market their business.” However, among the millions of businesses that use this form of advertising, success rates vary significantly. While numerous factors contribute to the success (or failure) of a social media ad campaign, there is one extremely important variable that must never be overlooked: your audience.
Selecting the right audiences for your advertising campaigns doesn’t require any added fees, years of study, or a team of experts. If you’re unsure of whether or not you are targeting the right audience on Facebook, read about three of the most common mistakes.
Your target audience is not defined by every person who may purchase your products or services. Instead, it is a narrow group of individuals who are most likely to need or desire those products or services. For example, if you run an online women’s clothing boutique, it is essential to define who the majority of your buyers will be. While the occasional male over 40 may purchase something from your store, these exceptions are not part of your core audience. Be sure to select demographic parameters (e.g. age, gender) that are not too broad. Use buyer data or surveys to help you narrow down your target audience as much as possible.
There is a lot to be said about the use of human intelligence in marketing. Real-world experience in advertising is an excellent way to have an advantage over your competitors. However, there are tools that can help even the most seasoned marketing professionals. One incredibly valuable tool on Facebook is the Audience Insights feature. Audience Insights allows marketers to learn “more about their target audiences, including aggregate information about geography, demographics, purchase behavior and more.” There is no cost to use this feature, and it can help you find the exact people to target for your next campaign.
Before launching your next Facebook ad campaign, be sure that you haven’t forgotten to select important filters that can make the most of your efforts. Launching a real estate campaign? Be sure to filter for those who have been determined by Facebook to be “Likely to Move.” Marketing a product that is intended to be purchased as an anniversary gift? There’s a filter for that, too. While it can take a few extra moments to browse for relevant filters, they can make a significant impact on the success of your campaigns.
To help make the most of your company’s advertising dollars, it is crucial to ensure that you are targeting the correct audience. By using narrow parameters, the Audience Insights tool, and effective audience filters, you can reach new levels of social advertising success.