You have a Facebook Page with a lot of content, but nobody is engaging with it. You run advertisements, but cannot seem to land sizeable leads. Your ad cost is so high, you’re losing money for every customer you get.
If you are saying Yes and nodding repeatedly right now, you are not alone. Too many businesses are finding it difficult to get a sustainable foothold on Social Media. And it doesn’t help that there isn’t a Philip Kotler of Social Media Marketing we can all rely on.
Social Media is so new and moving so fast, that by the time a book of a theory comes out it would be obsolete. So every industry leader in this field is doing well by experimentation.
Which comes to the key to our topic. Today we will address the common mistakes made on Facebook Marketing. And how a more scientific approach can help change things around.
No Post Engagement
You’ve tried all kinds of ideas. From changing the posting times and days, to creating more videos. Still nothing.
You even have a dedicated marketing team that learns how other brands do it, and churn out content like a factory. But you’re still not getting much engagement on posts.
1. Do you know your audience?
Before you say “I’ve been doing this for so many decades, I know my customers,” let’s take a step back and reassess every element.
You may know who your audiences are, but perhaps not too accurate when it comes to how they behave online and what they like.
Performing an Audience Insight review will help shed some light. Audience Insights is a great way to know how Facebook users are behaving online. Based on a set of common interests, you can see what else those people are paying attention to. From there, you can draw clearer conclusions on how to better target your audience.
From your Ads Manager, hover over ‘All Tools’ on the top left side, and click on ‘Audience Insights.’ Then select ‘Everyone on Facebook’. Make the necessary filtrations on the left tab of the following page, which includes choosing the country, age groups, and interests.
This information will help your marketing team figure out how to draft narratives, and captivating visuals and captions.
2. Creating the Right Content
There’s a saying that insanity is when you keep doing the same thing over and over again, and expecting a different result. There is a chance that the kinds of content you are creating simply isn’t speaking to your audience. Or maybe it’s just that something that used to work before isn’t working anymore.
Always have a fresh perspective on new angles and stories to tell. Start by keeping a close eye on your competitors or brands that are successful on social media, and emulate some of their tactics.
Then, test your new content angle against your traditional method concurrently to see which works better. Eliminating all other variables, the better performing one is proven to work with your audience.
Alternatively, you can also ask your audience what kind of content they want to see. Facebook Stories and Feeds are good ways of getting polls and feedback.
It will be more difficult in the beginning, since at the moment your audience isn’t engaging with you. Put a little bit of money to boost Posts and Stories to increase the visibility of your content. As engagement snowballs, ease in on the spending and allow organic momentum to take place.
High Engagement, Low Conversion
There are also times when you get a lot of buzz happening on your Facebook Page, but not the conversion you are looking for. Many things could be happening here which can usually be attributed to a problematic Funnel.
1. Content and Product Relevance
The good news is, having content with high engagement is half the battle won. The struggle now is keeping the content within the scope of your business.
There’s always a balance we need to strike between giving your audience what they want to see, and keeping the content relevant to your business model. While trying to create entertaining content, always keep one foot planted on the reality that you are a business.
2. Check the Lower Funnel Strategy
You are obviously performing very well on the Upper Funnel (Awareness and Engagement). But something isn’t right with your Lower Funnel, where the Intention and Sales reside.
Maybe your Call-to-Actions (CTA) are not solid, or maybe the external landing page needs more information. Try taking another look at your links. Always maintain only one CTA per post in order to motivate people to take just one action.
Also consider restructuring your landing page to see if conversion improves. As a good start, always build sales landing pages in the same manner as the Sales Funnel.
By answering common questions one at a time along the downward flow, you increase the chance of someone buying your product. And always, always, include a form or Buy button at the end.
Perhaps you are not utilising Facebook’s Remarketing Tool? Users need to be reminded of something they’re interested in a few times before they take a purchase action. The Remarketing Tool pools users who’ve expressed interest, but haven’t actually bought anything.
Sometimes they would go into your landing page, had a look at the information, but decided to hold back. Or maybe they were busy at the time and then forgot to get back to your product.
Remarket to them by running ads that remind them to make that purchase. A good way is to nudge them with a limited discount promo code.
High Ads Cost
The most important pointer to making ads worth your while is the Acquisition Cost (CPA). This measures how much it will cost you to obtain a Customer, which could be a Lead or Sale depending on how far down the Funnel you are tracking.
Your Acquisition Cost should always be lower than the profit you’re making from each sale. For example, if you are spending RM 10 to acquire one customer from Facebook and making RM 8 from them, you are losing RM 2 per customer.
So essentially a bubble gum retailer cannot spend more than a few cents to acquire a customer, because their profit margin is very minimal. A real estate agent however, can spend up to thousands acquiring a customer.
If, however, your intention is to use that product as a Loss Leader, it would make sense to spend more than you make from it. But your goal will have to be ensuring your customers buy the supplementary products that will recoup the cost.
One classic example of Loss Leaders is the printer industry. Printer are sometimes sold at a loss because they know every printer needs toners and ink, which is where profits come from.
Conversely, keeping your ad cost too low will not generate profits either. If a real estate ad cannot go above RM 1,000 to compete with others at RM 5,000, you will essentially just be wasting your money.
1. Check Your Ad
One contributor to off-the-charts ad cost could be your Targeting. Look at your audience, timing of ad, and most importantly the Relevance of your Ad.
Ad Relevance tells you if the ad is catching the attention of your audience. A score of 7 and above is ideal, while anything below 4 is bad.
One reason for bad scoring is captions and visuals. If they do not appeal to your audience, the ads will not have the impact you desire.
Another scenario is an ad that used to have good Relevance score, but that is starting to decline. This could mean that people are getting bored of your ad or product, and it needs a change.
Staying on Top of Data
There is no way to know if an ad is working unless it’s being tested against a control. Every company, brand and product is different from another. So having some patience to run learning ads will go a long way towards the right direction.
While spending too much money is a problem, not spending enough is also a problem. In the latter’s case, you will just be wasting your money away without results.
It is also important to keep a close eye on your Sales Funnel. Advertising is just one of the many parts of getting sales through the door. Most businesses fall on the final mile, which is usually offline.