Facebook advertising is becoming an increasingly common way for entrepreneurs to reach large numbers of targeted customers.
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With lots of options to choose from, Facebook ads are more flexible and affordable than other advertising mediums.
Facebook makes the process of setting up a social media ad as simple and straightforward as possible. However, that doesn't mean it's foolproof. To get the most impact from your Facebook advertising you'll need more than a streamlined startup process – you'll need insights from the people and businesses who've already found advertising success on Facebook.
Launching an effective Facebook advertising campaign isn't difficult, but there are some common Facebook advertising mistakes you'll want to avoid, including the following:
- CPC vs. CPM. One of the more frequent Facebook advertising mistakes involves the confusion between cost per click (CPC) and cost per thousand impressions (CPC) ad plans. CPC ads are only billed when a user clicks through to your website and are designed for advertisers who want users to take an additional step. CPM ads are billed per thousand impressions (or views) and do not necessarily require an online response.
- Low bid/low money. Facebook gives advertisers an opportunity to bid on the amount of money they will pay per click or per thousand impressions. The Facebook ad mechanism offers a suggested bid amount that will make sure your ad is seen by as many targeted users as possible. If you bid too low, your ad will never be seen. Likewise, if you don't dedicate enough funds to the ad campaign, the results will be limited.
- Poor targeting. If you don't have any idea who your customers are, don't bother with Facebook advertising. Part of the beauty of Facebook is that it lets you target your advertising efforts by personal demographics, individual interests, and geographic location. But targeting options will only help if you clearly understand who you are trying to reach.
- Doing too much. Without a doubt, the number one mistake most Facebook advertisers make is overreaching with a Facebook ad. For starters, you have to be conscious of the fact that you have a very limited space in which to promote your product. A short, concise message is all you'll get. Keep in mind that the most effective online advertisements are the ones that market in stages. It's always better to provide little sound bites in the form of sales, discounts, or features than it is to try and sell everything at once.