Facebook recently announced that they have 2 billion monthly users, so it’s safe to say that Facebook is the most powerful social network in the world. With this many monthly users, businesses are put into a position to effectively take advantage of this, using Facebook Advertising. But prior to even considering this, it’s important to know your ideal customer, so you can ensure you see return on investment through the Facebook platform. It’s vital that your advertising message resonates with the audience you are targeting, as this will help your advertisements get the highest amount of reach, at the most efficient spend. With many different options available, here are four different targeting parameters you may not have known about.
- Interest Based Targeting
The most common form of targeting, interest targeting allows businesses to build the perfect audience by advertising to those who have expressed an interest in specific topics on Facebook. These interests can be identified from content that a user has added to their Timeline, content that they’ve engaged with, or even pages they’ve expressed an interest in. For example, if your business was a local pizzeria, you can target users with food based interests, within a specific location.
- Targeting by Exclusion
An often overlooked method of targeting, Exclusion Targeting allows businesses to exclude audiences who they know will not be suitable in the product or service they are selling. This could mean excluding a certain location from seeing your advertisement, or those who have expressed an interest in a certain topic. Targeting by exclusion can reduce the cost of your Facebook advertising if done effectively.
- Behaviour Targeting
Facebook has partnerships with data brokers around the world, some of which include Datalogix and Acxiom. These companies access trillions of data transactions each year, making them data powerhouses. In the past, Advertisers on Facebook could only target users based on specific actions they’ve taken on the Facebook platform, but new behavioural targeting functions are being added to the platform constantly, some of which including individuals who are getting married soon, expectant parents, and even by different salary brackets or household composition.
- Custom Audiences
Custom audiences allow businesses to connect with their existing contacts on Facebook, and is often used as a brand affirmation, loyalty or retention tool. But did you know an existing database can be utilised to create audiences with similar demographics to their customers? This tells Facebook who your customers are now and asks them to find you more people with similar likes and behaviours. Another great use for custom audiences is retargeting those who are interested in your Facebook content. Did your business just post an awesome video on Facebook with high engagement? You can create your own custom audience out of those who engaged with your video and retarget them with advertisements for your products, services or for awareness reasons.
Although Facebook Advertising is a powerful medium for building your customer base, and retaining existing clients, it’s vital that you understand the audience you are speaking to avoid wasting money. Not understanding who to target on Facebook will lead to high advertising costs, with minimal returns. Understanding how your customer ticks is important to the long-term health of your business, and this is something we can help with. Create your perfect target audience now – simply book your no obligation chat now to find out how we can help with the creation of your ideal client and Facebook advertising.