Spending only $2,500, tech startup Veeroll was able to sell 122 subscriptions in two weeks using targeted Facebook ads. Depending on the size of your company, that is either pocket change, or your entire social ad budget. Deciding the best strategy to help grow your business can be tricky. Luckily, Veeroll was kind enough to share exactly what they did to achieve these results in a recent article on digitalmarketer.com. Ironically, Veeroll is a company that helps its customers generate video ads automatically. Nevertheless, here are some of the key takeaways from their experience.
The first lesson is to avoid doing all of this on your own. Most entrepreneurs are people that want to turn a great idea in the viable business. That doesn't mean they are experts in digital marketing. Join a community group and seek advice from people who do this for a living. Advertising on Facebook can be risky, so it helps to have an expert on your side to help you optimize your CPC and other metrics.
The second lesson can be abbreviated as ABO - Always be optimizing. Use the Facebook Ads manager reporting system to see who is responding and who is not. This will help you see trends and give you the insight needed to find out if your message is resonating with your intended audience and leading to actionable results.
The third, and potentially biggest takeaway, is that video creates a higher engagement rate than image or text. Period. According to data from Simply Measured, videos are typically shared 1200% more times than links and text combined. This is probably part of the reason why Facebook and other social media companies are investing in video at their current rate.
The fourth lesson is to know your audience. Veeroll ran their Facebook campaign in two different phases. The first phase was a website click campaign aimed at people on the network who expressed interest in Veeroll's niche market. They also tried to find look-a-like profiles to their current mailing list. The second phase of the campaign was sent to a another segment of the same "cold" audience, along with a set of "warm" leads who had previously visited the website and blog. Veeroll also found if beneficial to be creative with the ads that were sent. Give your audience something fun to do or watch as a way of standing out from the crowd.
The fifth lesson was that the ads were much more successful when there was a focus on "giving over getting". You can't always know which stage of the buying process your target may be in, but you are going to greatly increase the likelihood of your ad being effective if you consistently provide something of value. Veeroll noticed a significantly higher relevance score when the ad recipients perceived value from the ad.
The final lesson is the be organized, but don't wait forever to pull the trigger. Before you start your campaign have a specific goal and strategy in mind. Revisit your plan often to ensure your ads are working. At the same time, you won't score on the shots that you don't take. While this of advertising may seem intimidating, you aren't going to reap any rewards if you refuse to take a risk.
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