Business owners are more attracted to Facebook today than ever before. The reason for this is that Facebook has an enormous reach of as many as 1+ billion daily active users. Facebook has an ad platform is relatively simple to use, but it can also seem difficult if you chose the wrong options or targeted audience. In this blog post we will explain Facebook ads and we will walk you through setting up one of National Business Capital’s Facebook campaigns.
Before we jump into how to setup a Facebook ad campaign, it’s important to know that you must own a Facebook business page, which is also called a fanpage. If you don’t have a Facebook business page, you kind find more information from Facebook on how to set one up by clicking here.
The first part of creating you ad is choosing your objective. Click on the Facebook link below to see a list of your objectives. If you scroll over each one, it will give you a brief description. We will use the “Send people to your website” option for this exercise. https://www.facebook.com/ads/create
Once you chose this objective, Facebook will ask you to enter the website URL that you would like to send your prospect to. Add the URL and Facebook will automatically upload a picture that is associated with your website to use in your campaign. Don’t worry, you don’t have to use this picture for your ads. You can upload up to 6 images to have 6 different variations of your ad running through 1 campaign to see which pictures perform the best.
The next step in the process is to create your ad set. This is where you will create your target audience that you want your ad to be shown to. You have 2 different options here.
If you already have a list of leads in in an excel spreadsheet form, you can create a custom audience by uploading them into Facebook. As long as the email address from you lead list matches the email address that your potential customer used when creating their Facebook account, you will be able to target them with your ad.
The second option is to use Facebook’s targeting parameters. You can select the location, age, gender languages, and much more in this section.
Under the demographics tab you can get as specific as income, net worth, education, job title, home ownership status, and much more. Facebook also includes interests and behaviors tabs.
This allows you to zero in on what your potential clients like and what their buying behaviors are. The bar on the right indicates how defined your target audience is and how many potential clients you can reach with your ad campaign. So you can see the power of using Facebook to generate laser targeted leads.
After selecting your targeted audience, you will then be able to set your budget and the schedule of when your ads should be running.
You can set daily budgets or lifetime budgets. A daily budget is just like it sounds. You tell Facebook how much your willing to spend per day to run your ads.
Once the daily budget has been reached, your campaign is shut down for the rest of the day. The lifetime budget is how much your willing to spend over the lifetime of the campaign.
To explain this in more detail, let’s look at the 2 most popular Facebook options called Cost Per Click (CPC) and Cost Per 1,000 Impressions (CPM).
The M in CPM stands for the roman numeral number for 1,000. Cost Per Click is the amount that you would pay for each person that clicks on your ad.
Facebook will provide a cost range for you so you can see what your competitors are bidding for the same targeted audience. Cost Per 1,000 Impressions is the price that Facebook will charge you for showing your ad to 1,000 people that are in your target audience.
In the CPM scenario, Facebook factors in an added cost for the clients that click on the ad as well.
So if you were to set a lifetime budget of $100 and Facebook’s cost for 1,000 impressions is $10, then you campaign would end once your ad was shown to 10,000 (1,000 X $10).
The last step is where you will create your actual ad. We already discussed above that you can upload up to 6 images.
Here Facebook tells you what your image dimensions should be. You will also chose which Facebook business page you will be running your ad from. You can enter a Headline, text, and extra text underneath the actual picture.
You can also add a call to action button such as a shop now or learn more button to your add. Facebook only gives you a limited amount of characters to use in your text so make sure not to go over or else your ad won’t be approved.
Don’t worry if you do go over as Facebook will display a negative number to warn you that your content is too long. You can see an example of one of National Business Capital’s ads below.
You will notice to the right where Facebook shows you a preview of how your ad will look that they give you several options of where your ad can be shown.
The desktop feed is the main feed where your normally see all of your friends posts or other companies advertisements. The right column feed is where you see those smaller ads that pop up on the right hand of your Facebook page. The mobile feed is if you want the ad to show on mobile devices.
Facebook added a new option, the partner feed. This option allows your ad to show up on Facebook’s business partners app pages. So if someone is inside of an app on their smartphone, your ad would pop up if they fit your targeted audience.
After all of these steps are complete, just hit submit and you ad will be submitted to Facebook for review.
If it’s your first time running an ad through Facebook they may take up to 24 hours to approve your ad.
Once you have been running ads for awhile, Facebook can approve them as fast as 5 minutes. Make sure to click on the video below to watch a live example of how we setup one of our campaigns.
National Business Capital & Services is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.
Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.
We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!
Megan Capobianco is the Marketing Manager at National Business Capital & Services. Megan is passionate about helping business owners along their journey - providing them with relevant content they can use in their day-to-day operations.