Why You Should Invest in Facebook Advertising
Facebook is a beast. With 936 million active daily users it isn’t a stretch to say that it’s an essential tool to get your name, your product, everything about you out there. But is it worth paying for?
The answer: Yes. Facebook’s target marketing is unlike that of any other social media platform. It completely outstrips the likes of Twitter or Google+. Facebook is fine tuned to target your market demographic because its users have built a comprehensive profile themselves. A Facebook user’s profile includes info like:
- Life events
- If they’re a mobile device user
- Apps they use
- Purchase behaviors
- Where they travel
- And most importantly interests and “Facebook Likes” which show you brand connections
This is what gives Facebook it’s unique marketing value!
Facebook gives access to phenomenal marketing tools.
Facebook’s Custom Audiences tool is unlike any other. A Custom Audience will allow a Loan Officer to choose which targets to include among contacts they already have a relationship with. For example, a Loan Officer could use the e-mail addresses of past clients they think might want to refinance soon to create a Custom Audience on Facebook and then advertise directly to them.
The Lookalike Audiences tool is a great way to pull in new audience members. These new audience members will have similar characteristics to consumers you already have. By using Lookalike Audiences, your customer base can rapidly expand with the added benefit that the users being targeted have a much greater likelihood of being interested in your product!
How to Utilize Facebook Advertising
It’s no secret that Facebook gives access to many advertising tools but what are some ways to get the most bang for your buck?
Know Your Target Market
This is critical when advertising over Social Media. Knowing who uses which platforms lets you know where your audience spends its time. All it takes is a simple Google search to reveal critical information like 71% of online adults use Facebook, or that people over 65 are the least likely to use Social Media. Taking a couple minutes out of your day to find out these types of statistics can save you from wasting your funds.
Saturate Small Markets
This is huge when it comes to making your money count in Facebook Advertising. Rather than spending massive amounts trying to out advertise the big guys you can use Facebook’s built in advertising tools to hit smaller demographics to make yourself known. Facebook’s advertising can become so precise your ad can be sent out only to females ages 32-36 that live in your community. Since these ads are billed by views, tightly targeted marketing costs you less and can get many ad views in front of potential clients. Target small, devote a campaign budget to saturating it, and then move to a new demographic.
In addition to knowing your target market, be sure you know your competition. Find out what other services Loan Officers are offering and then offer it better and cheaper. Use your Social Media platform to highlight the benefits of your company and your service. Show them what makes you better, what you can offer them that others can’t, and do it in a way that makes you stand out. We don’t have that Video Room for nothing!