If you are disappointed by the results of your Facebook campaigns, you are not alone. Around 62 percent of small business owners complain about the same. However, Facebook continues to generate massive revenue of more than $17 billion every year from ads alone. This means that there must be something that Facebook has to offer that encourages businesses to spend on ads. There are some high and lows points of Facebook. It might fit some business models and provide horrible results for others. To make the most of Facebook Ads, you should avoid the following mistakes.
1. Set Vague Goals
One of the biggest mistakes that businesses make when using Facebook Ads is setting vague or broad goals. Many businesses want to conquer the entire market with just one campaign. It is impossible for a single ad to boost brand awareness, sales, and traffic. Although every business has multiple goals, it does not mean that everything should be crammed into a single ad. Instead, Facebook lets you select from a list of goals. Therefore, you should select a single goal and tailor your ad to meet it. Whether you want to increase sales or newsletter sign-ups, create an adjustment for that.
2. Target Too Many People
Another common mistake that might be causing your money to go to waste is targeting too many people. If you want to target two million people and spend only $100, it is an obvious recipe for disaster. With such a tiny budget, it would make no sense to target such a huge audience. It does not mean that you require a massive budget. However, you have to be realistic. Instead, you should be merciless when using targeting parameters. Find the right balance between your targeting parameters and budget to target your ideal customers. Restrict demographic traits, geographic areas, and common interests. Analyze the buyer persona of your customers and add targeting parameters accordingly.
3. Only Target Cold Audiences
In addition to the above mistakes, many businesses only target cold audiences. You might be thinking that what is the point of marketing to people that already know your business. With the current Facebook organic reach being 2.2 percent, people that follow or like your page only view 2.2 percent of your updates. Chances are that the people who had visited your profile might have already forgotten about your business. Instead, you should download Facebook pixels for your site to target people who have not visited your website in a long time. Connect with people already in the business to boost your ROI.
4. Post the Ad & Forget About It
Finally, businesses tend to make the mistake of posting an ad and forget about it soon afterward. Facebook has a bidding system. It means that the performance of your ad is linked to how many other businesses target the same audience. Hence, you need to monitor your ads. You cannot only check the results once the campaign is over. It would be too little too late. Instead, check the ad frequently or at least once a day. Find out which placements perform better and tweak your ads for success.
Now that you know how you might be wasting money on Facebook ads and how you can fix it, it is about time that you made some necessary changes.