Facebook ads do not inherently add value without a strategy behind them. A successful Facebook ad campaign starts with defining your goals, and thus your audience. Thanks to new Facebook targeting tools, reaching that audience has gotten easier.
Not All Goals Are Created Equal
Companies often cite goals like "increase brand recognition," "increase sales and revenue" and "improve customer engagement." All of these advertising goals are terrific but lack quantifiable measurements. Brand identity is key. You wouldn't try to sell hair widgets using a bald spokesperson. Likewise, you want visuals and messaging to be consistent across platforms. Beyond that, you're going to need to get more specific. Make quantifiable and measurable deadlines — increase sales by 12 percent within the fiscal year, or increase positive customer feedback by 5 percent this quarter.
Monitor, Monitor, Monitor
Using the ads manager tab in Facebook, you can see exactly how well your ad is doing. You can also set up multiple campaigns and evaluate performance from a holistic approach. By evaluating performance metrics, you can determine whether to turn campaigns on or off at any time — this is the real money-saving feature of Facebook ads. You can adapt your strategy based on consumer behavior in real time.