Should I be investing in Facebook Ads right now?

It’s understandable that some companies might not want to invest in advertising right now.

Companies are looking to make cut backs within their marketing budgets to help with their finances, or they are looking ahead at their tighter budgets.

And now, mastered by a few large US brands, there is a Facebook advertising boycott within the month of July as these brands attempt to use their spending power to influence Facebook policy.

But this does give companies that continue to invest in their business and brand through Facebook advertising an advantage. The main way that you can be using Facebook ads right now is to help build your brand awareness.

Get in front of your audience at a cheaper cost

When there are more advertisers trying to advertise to the same pool of users your marketing budget doesn’t stretch that far.

This means that right now you are going to be able to reach the same audience as before, but at a cheaper cost, making your advertising pounds go further as there is currently less noise in the platform.

Keep, or build, your brand awareness

Even if your company or brand aren’t yet able to operate as usual, then you still want to keep your brand in the forefront of your target audience’s mind. That means when you are in the position to ramp up the activity again then you are able to do so to a warmer audience, which means we may be able to achieve a cheaper cost per conversion.

A good way to build brand awareness if through lookalike audiences. These audiences work by finding common attributes between a given source, and finding users that share those common attributes within the platform, through:

• Demographics (their age, gender, and location)
• Interests (the pages and posts that they engage with)
• Behaviours (what actions they make on Facebook)

3 main sources for lookalike audiences

1. Your website visitors – using your Facebook pixel, you can build a profile of what your typical website visitor looks like for the platform to build a lookalike audience from
2. Users who engage with your brand – Facebook allows you to build an audience pool of users who engage with your brand on Facebook, including when a user likes your page or engages through likes, comments, or shares on your organic posts or paid adverts.
3. Email data – If you have opted-in email data (by this, we mean a list of email addresses that have declared that you are able to use their email address for marketing purposes) then you can also upload a list of these emails into Facebook. Facebook will then match those email address to Facebook profiles, and then create the lookalike audiences from there.

How do I know if I am building Brand Awareness?

It’s all well and good reporting on Reach and Impression metrics, but we know that stakeholders will want more tangible metrics.

When you are optimising towards awareness metrics in platform, you are then able to record on the Estimated Ad Recall Lift.

With this metric, you will be able to see both the estimated percentage and number of users who will remember your brand after seeing your advert within the platform and this is an impressive metric to be able to report back to your stakeholders.

You can read about how Facebook measures this estimate here.

Make the most of Facebook advertising expertise

Between the pandemic and the boycott, these are challenging times in the world of social media advertising. We have a team of enthusiastic experts that are ready to help you face these challenges face on.

If you’d like to talk about how to make the most of Facebook advertising right now, get in touch with us today!