CPC or CPM?
One of the initial things you want to consider is whether you should go with the cost per click (CPC) or cost per thousand impressions (CPM) model. This sets the stage for your success and profitability. I usually recommend starting with the CPC model so you get instant traffic. Bid a few cents over the maximum that Facebook recommends so you can test the click through rate of your headline, image, and description quick. CPM ads can be used for brand recognition. Decide on the overall purpose of your advertisement before you start, though.
Make Your Dollar Go Far
With Facebook ads, you really don't need a big budget to advertise on the social network. It helps to have money but don't put a strain on your finances. You need at least $1 / day to promote an ad. The minimum is 1 cent for cost per click and 2 cents for cost per thousand impressions.
Obviously, the lower your ad budget, the less exposure your ad will garner. Don't go cheap because you can. Utilize your money intelligently.
The quickest way to test a Facebook ppc ad is to set your budget to a few hundred dollars / day. This will help you advertisement get shown much more. Then, you'll be able to have a look at the CTR and judge how good the ad is performing faster.
Research Strategies for Isolating Potential Customers
Using the Facebook ads interface, you can target potential customers by age, school, sex, city, country, interests, and other various factors. Really target those with specific interests. The more specific you are, the more it will benefit you in terms of fan page "likes," email opt-ins, and sales.
Use the Facebook Ad Space in an Effective Manner
While you do have a little more space allotted in your ads on Facebook than Google, use it wisely. Don't be careless with what you say. Use the question format for the title. The use a one-sentence call to action in the description. Then, insert a curiosity evoking image. That's it! Don't ramble on.
Use Facebook Insights to Track
When your Facebook ad is up and going, it's only the beginning. You'll need to track your advertisement to measure its effectiveness. Facebook insights gives you the raw data on how many people saw your ad, clicked it, and took action.
You get to view what type of people saw your ad, how old they were, their gender, and what kinds clicked-through. You can also check-out the advertising balance you've went through. Get a few days worth of data before modifying your ads.
There's Much More To Being Successful
As you know, there's much more to knocking it out of the park that using just these Facebook PPC tips. We've only scratched the surface here. Here's another top. Make sure you pay close attention to the ad campaign. 70% of the effectiveness of the ad will be determined by the image and targeting. Work to consistently improve and refine your message.
Keep the ad fresh, and rotate it every week or two. The life-span is typically short on Facebook. Everything that was discussed here will give you a fast-start to making money with Facebook ads today!