2017 Facebook Advertising Benchmarks

2017 Facebook Advertising Benchmarks

Whenever we report Facebook Advertising results, clients usually ask for some context as to whether their results are good or bad.

Since there are a lot of different variables that go into Facebook Advertising performance, it’s difficult to settle on any definitive benchmarks to aim for – even Facebook refuses to give an “official” average CPC, CTR or CPM (the closest you might get a rep to say is what their own personal experience has been).

Luckily, a recent study of 256 U.S.-based Facebook Advertising campaigns, conducted by Wordstream, has provided some benchmarks to shoot for. And considering the amount of advertisers on Facebook as more than doubled over the last year or so, the more data you have the better.

Here are the key findings from Wordstream’s study. 

Average Click-Through-Rate on Facebook

Click-through-rate (or CTR) is defined as the percentage of times people saw your ad and clicked a link. The metric is calculated as clicks divided by impressions.

The average CTR for Facebook Ads across all industries in this study was 0.90%.

2017 Facebook Advertising Benchmarks | Social Media Today

Average Cost Per Click on Facebook

Cost per click (or CPC) is the average cost per link click. It’s calculated as the total amount spent divided by link clicks.

The average CPC for Facebook Ads across all industries in this studs was $1.72. 2017 Facebook Advertising Benchmarks | Social Media Today

Keep in mind, the above benchmarks have a ton of different variables – targeting, creative and budget will all heavily influence how your Facebook ad performs. Your goal should be to execute a cost-effective campaign which drives quality traffic to your website wthat converts.

If that seems like gibberish, here are a few Facebook Advertising tips:

  • Try to keep your graphics bright and feature other people in the creative – Statistically users respond better to ads with images of people opposed to custom graphics.
  • Avoid too much text – You get penalized for using too much text in your graphic, and sometimes your ad may not even get approved.
  • Be picky with your targeting – The more specific your audience, the more efficiently your ad should run. Try to be as focused as possible.
  • Keep your ad copy detailed but concise – Tease the user to click.
  • Target News Feeds – You have many different placement options, but from our experience, the Desktop and Mobile News Feeds provide the most cost effective ad placements.

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The Truth About Facebook Group Marketing

The Truth About Facebook Group Marketing

The Truth About Facebook Group Marketing | Social Media TodayI decided to launch my Facebook group, Millennial Go-Getters, in early December of 2016. I remember being so hesitant and scared to do it – I was sure that no one would join other than my mom – but I finally took the leap of faith and went for it.

Today, three months later, Millennial Go-Getters has nearly 1,000 members. So if you’re someone who’s been on the fence about starting your own group, I’m living proof that you don’t have to be Beyonce to build a thriving, highly engaged online community. You’ve got this.

But before you go ahead and do that, finish reading this first.

I opened Millennial Go-Getters because I wanted to create a community full of like-minded 20-somethings who were killing it in their creative careers (or on the path to doing so). I was determined to build a space for entrepreneurs to support, encourage, inspire, and teach one another. And with the right strategies, it worked. 

What it was NOT intended to be was a place for people join solely to spam the hell out of each other with lifeless posts about their latest freebies and sales offers. Yet somehow, similar to the vast majority of growing Facebook groups today, that is what slowly started happening.

People would join the group, not even introduce themselves, and immediately start link-bombing us. Before I knew it, there were dozens of promo posts that were receiving zero engagement (obviously), and I was just sitting there screaming at my computer, “Uhhh does this group look like a trash bin to you?! Stop ruining my precious community with your garbage, spammers!”

When I would tell them to stop doing it, they wouldn’t listen. It was as if they were desperately dangling from the Facebook group thread, barely keeping their business alive with this icky marketing strategy.

Because ultimately, that’s what it is: a fake, cheap, unsustainable marketing strategy that entrepreneurs need to drop, like, yesterday.

Here are the biggest reasons why Facebook group marketing is a thing of the past. Then, we’ll get into some powerful alternative that you can adopt instead:

1. Facebook groups are run by real people

If you’re someone who joins Facebook groups purely for the reason of self-promotion, did it ever occur to you that this group has real humans in it? Not robots who are going to click on whatever you post – real, legit human beings who have brains and interpret what you’re doing as rude.

Think about it – would you show up to someone’s birthday party without a gift, and only attend so that you can network and promote your own birthday party happening the following weekend? Uhhh no, you would not.

Facebook group owners have eyes and can see you – and if they haven’t already, they’ll start blocking you from their groups soon.

2. Facebook is a really, really busy place

Everyone knows that when you go on Facebook today, there are a million things to engage with – Buzzfeed articles, videos, ‘cash me outside’ memes, whatever. And with so much free, entertaining, low-commitment, bite-sized content to grab, do you really think that someone’s going to click on your sales link?

Unless you’re giving away diamond-covered unicorns for free, other group members have no reason to engage with or trust you. This isn’t to say that whatever you created isn’t good – it just means that Facebook groups probably aren’t the place to be offering it.

3. Everyone is posting the same content

It’s very rare to see an opt-in post that’s original anymore. I know that they think that what they’re posting is an industry-breaking game changer, but it’s probably not.

The reason for this isn’t because what they’re offering isn’t legit, but it’s how they propose it that turns people away.

Everyone in Facebook groups today is so careful to be polite and emulate this generic entrepreneurial persona that it drains all personality out of their content, making everyone sound exactly the same.

Basically, what I’m trying to say is, if I see one more “lady boss” post a Canva-produced graphic written in cursive gold foil with a freebie that reads “FREE Fool-Proof Social Media Calendar”, I’m going to lose it.

4. People pretend to care… and then link bomb

Did you know that there are courses available to purchase that literally teach you how to pretend to care about other people in Facebook groups and then sell to them?

“All you have to do is engage with other people in the group first – comment on their posts, like their stuff – and then post your freebie! Works like a charm!”

Like….what? Do you really think that people don’t notice this? Do you think that we aren’t aware of this “strategy”? We see you, dude, and it’s not cute.

5. It’s not sustainable

A lot of groups still allow promotions, but everyday, more and more groups are setting in rules that ban it.

It’s just not sustainable because the Facebook group management is out of your hands. Find solutions that will work for you in the long-term instead of chasing the remaining promo-friendly groups that are left.

And ultimately, stop trying to build your own community in someone else’s. It’s just tacky.

My top social self-promotion tips

1. Run Facebook Ads

First of all, if you’re looking for 100% organic strategies for growing your brand on Facebook, stop. They just don’t exist anymore.

Even if organic outreach works for you today, Facebook’s algorithm will probably change and screw you over tomorrow. You just can’t depend on it.

So for now, the most powerful move to make is investing in Facebook ads.

If you’re thinking “I can’t afford that”, then it doesn’t sound like you’re that serious about your marketing strategy. If you’re working on a low budget, don’t worry. You can invest $5 a day and start seeing results.

2. Utilize the relationships you already have

Think about the people whose attention you already have on Facebook – they could be your friends, family members, college classmates, professional colleagues, whoever.

Within that pool, think of who would be relevant for what you’re doing. Or if they’re not relevant, maybe they know someone who is.

For example, maybe your college roommate has a sister who owns a clothing store, and you can see that she could use help with her online branding strategy.

Focus on these people first. Why? Because they already trust you, they already give you their attention, and they already want to help you.

Focus on using the real relationships you already have and deepen new ones before you start cold targeting people.

3. Start your own Facebook group

Build a community of people around you who believe in the same ideas and value what you do – that way, you’ll be able to foster new relationships with hundreds of new people who are open to learning from you.

Oh, and set your own group rules so that people don’t spam it.

4. Use Instagram

How come so many Millennials are still using Instagram solely as a place to stalk Kylie Jenner instead of using it as a powerful marketing tool? 

There’s so much ignored potential here – with the right organic strategies, Instagram can skyrocket your online community, your revenue, and your email list. Win win win.

If you read this whole article and still aren’t getting the point, here it is: Posting in Facebook groups has a slim to none chance of actually helping you in your business today. Instead, be a part of Facebook groups for the original purpose of having them: to build relationships, connect with like-minded people, learn something new, and support one another.

This is the future of Facebook groups – you can take it or leave it.

Main image via geralt/Pixabay

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4 Demographic Metrics that can Make or Break Your Facebook Marketing

4 Demographic Metrics that can Make or Break Your Facebook Marketing

4 Demographic Metrics that can Make or Break Your Facebook Marketing | Social Media TodayOver the last decade, Facebook has grown to become one of the best digital advertising platforms, with a range of expansive data targeting options fuelled by their ever-increasing user base.

But even with all those options, many businesses still fail to see significant results from their Facebook ad efforts. Many are still focused on reach, which remains a key metric, but it’s equally important to ensure that you’re connecting with the right audience, not just the biggest.

This means that you must have to get your demographic targeting right.

Demographic targeting is crucial for any advertising campaign, and it’s even more important on Facebook because the CPMs are so high. Facebook charges high advertising costs, because its advertisers can narrowly target their audience. If you don’t take advantage of these targeting options, then you’re throwing money out the window.

I assume that you are already targeting users by interests, age and gender. These are obvious demographic targeting options that you need to include in every campaign. However, they’re not enough.

Here are some other very important demographic targeting options that you should consider.

1. Income

Income is one of the most overlooked targeting options, which is surprising. Personally, I rate it as the single most important.

Why? If you sell premier products and you’re advertising to people who can’t afford your services, then they won’t provide any value to your business. On the other hand, if you sell more economically priced products, you could generate more response by pitching to lower income households.

When you analyze your buyer profile, it’s important to estimate their income.

2. Buyer Behavior

Buyer behavior is one of the three broad advertising targeting options available on Facebook. Social marketing consultant Kandice Linwright says that it tends to be one of the most expensive, because it has such a strong impact on conversions.

There are multiple ways that you can target users by their behavior:

  • Automotive purchases
  • Charitable donations
  • Activities online
  • Financial decisions
  • Residential profiles

Within each of these categories, there are multiple targeting options.

For example, the “Financial” category enables you to target users according to their investing decisions and level of frugality.

If you sell luxury products, you would probably want to target users that make impulse purchases and aren’t as concerned about saving their pennies. On the other hand, brands selling economically priced necessities would probably have better luck targeting frugal Facebook users.

3. Life Events

Major life events obviously have a tremendous influence on people’s buying decisions.

Social expert Margot da Cunha writes that it’s actually her favorite targeting feature.

“Life Events has to be my favorite targeting option within Facebook because it’s the perfect medium for this. From personal experience, I’ve found that my friends like to share major life events on Facebook, whether it being getting engaged, graduating from grad school, or having a child.”

Life event targeting is frequently used by wedding planners and companies selling baby products, however it can also be a powerful targeting option for many other companies. Real estate agents can target people that just got engaged, because they may be more likely to purchase a new home if they’re anticipating new additions to their family in the near future.

4. Residential Profiles

Residential profiles are another overlooked targeting option that can have a tremendous effect on your campaigns.

Here are some questions that you should ask:

  • Are your target customers homeowners or renters?
  • Are your target customers living in rural or suburban areas?
  • What type of home do they live in?

These targeting options tell you a lot about their lifestyle and personality – it can be a roundabout way to target users based on their financial status without paying high CPMs.

Look Beyond Obvious Targeting Options

Virtually every Facebook advertiser targets users by their age, interests and gender. These targeting options are necessary, but you can go into a lot more detail to focus your campaigns onto the exact right users.

Try to expand your horizons by testing other targeting options – you’ll likely be able to increase your conversion rates if you have a more granular understanding of your audience. 

Main image via Pixabay

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