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5 Strategies to Boost Your Startup’s Growth with Facebook Ads
Social media has become a vital marketing model for a business to maintain a solid digital web presence. Small businesses and start-ups aim to reach their target audience in their limited budget, and social media platforms like Facebook, Twitter and Instagram (to name a few) help such businesses to boost…
Social media has become a vital marketing model for a business to maintain a solid digital web presence. Small businesses and start-ups aim to reach their target audience in their limited budget, and social media platforms like Facebook, Twitter and Instagram (to name a few) help such businesses to boost their social presence through their ads.
Facebook has become one of the best social media platforms for small companies and startups to spread awareness of their brand. It has 2 Million users at present and the most social media website to access worldwide. However, it can be difficult sometimes for the small business owners to know how to use Facebook ads and reach the masses effectively.
Therefore, here are the five strategies to boost your startup's growth with Facebook Ads, so that the marketers can start promoting their products and services to a wider audience.
Facebook Ads to Boost Your Startup's Growth
#1. Tap into Recent Purchasing Behavior among Facebook users
Earlier, Facebook was criticised by advertising analysts as a network with little commercial intent or potential customer insight. It was a place to socialise, not to promote products. But in 2013, Facebook collaborated with data brokers like Epsilon, Acxiom, and Datalogix which have access to trillions of data transactions each year. In fact, Acxiom has started their database which contains information about 500 million active consumers worldwide.
Suddenly, Facebook can keep track of each and every activity of their users on the web. Getting married soon? Love reading murder mysteries? Facebook probably knows! This consumer information gave advertisers the power to reach out beyond their CRM databases. Now, startups can use this data to reach their target audience segment by analysing the thousands of different consumer behaviours on the web.
Individual user database can be tracked, like their purchasing behaviour which includes buyer's profile, food, clothing, health & beauty and more. Facebook helps to give that database and categorise every individual's interest according to which the start-up can structure their product's advertisement accordingly.
#2. Life Events Targeting
Some campaigns are designed and products are advertised based on some significant life events of the users. For example, wedding photographers target the individuals who are recently engaged by showing them some of their most appealing couple images. Likewise, Moving services ads flash in front of you if you've purchased a new house.
Facebook has the data of almost every conceivable life event which the users tend to post on their timelines. These life events set the parameter in a unique way, so that businesses can choose their target audience at that interval of time to advertise their brand on Facebook.
For example, during Diwali festival season, there are lined-up Facebook ads for ethnic clothes, electronic sales and jewellery, so that they can target audience members who are interested in Diwali shopping online.
#3. Nurture Leads & Build Loyalty
Marketers can nurture their leads and build customer loyalty with the help of Facebook Custom Audience. It is an advanced feature that enables you to connect with your existing contacts on Facebook. Customers access your content on the web, and when they look at your Facebook ad, it reinforces your brand and gives your business an opportunity to increase customer value and loyalty.
You can also increase the efficiency of your valuable targeted customer list and avoid inappropriate clicks by listing your qualitative customer.
Custom Audience is created by uploading your user's purchaser/subscriber email list to Facebook. You can also create a Custom Audience based on your site visitors or specific actions taken within your app.
You could target the audience that has visited your website earlier by offering them a discount or a demo of your product. The user is already aware of your brand and was interested in your product, but it didn't get converted. So Facebook ads with the help of Custom Audience list could reach to the people listed on that list and convert these potential customers into leads.
#4. Create Lookalike Audiences
Building a lookalike audience is the next step once you create a custom audience on Facebook. You can mirror your Facebook fan base even if you don't have the email list and contacts of your customers. It allows you to expand beyond your reach and target the people with highly accurate profiles by creating audiences that look like your targets.
Once you have made a decision about the audience, you’d want to replicate; you can expand your business to appeal to a larger audience or something more specific and similar to your original audience. Therefore, with the help of a lookalike audience, you can run ads that are targeting people who are similar to your real customers.
#5. Layer Targeting
You can layer your target customers one upon another by making it more and more precise with the combinations of demographics, behaviour and geolocation to specify your audience. You can build up a creative ad and offer it to your preferred audience by using the combination of such data.
For example, a paying guest company that’s promoting a special discount has an offer for students who have recently moved to the new city, within the age range of 18-25 and their service area location. So the target audience for the paying guest company is the students within the age of 18-25, who are new to the city and looking for a cost efficient place to live.
To display such ads, you need to understand the intent, likelihood and needs of the audience segment. You can use the layer targeting option and get in front of them to spread awareness about your product to that segmented audience.
These are the best 5 Facebook strategies to implement in order to boost your start-up’s growth and generate leads.