By Sam Sudakoff Are you really getting the most bang for your buck on your social media advertising? Sometimes it's not only easier to gain big results with less money, but also easier to decipher how effectively your ads are being placed. Make your mark most efficiently and don't get bullied around by those with deeper pockets, especially on Facebook, when your cost per click can vary so greatly. Here's how:
1. It is important to understand the product you are trying to build awareness for. Then, you must determine your target audience. This will help you know where to allocate your resources.
2. Start small, test the waters and analyze results. Only then should you commit to a bigger spend. There is no need to rush into huge spends just because you can. Money is still better rationed and placed appropriately!
3. When you start running new ads, collect data for 2-3 days before you start making decisions about what to pause and what to increase. Facebook ads take about 2-3 days before you really know how your ads are doing.
4. Spending a lot of money quickly yields better results than stretching the same amount over a long period of time. Short bursts seem to be most effective and can generate the most visible response. If you have a lot of money to spend, a huge spend over a long period of time will get the job done as well.
5. Do not place ads around the holidays. Everyone places them during the major gift giving holidays so there is an overwhelming competition for potential responsiveness. Warning, if you are going to spend your money on ads around the holidays, be prepared to spend a lot and have a high cost per click.
The Bottom Line: Regardless of how much money you have to spend, you can still be effective. Most importantly, make sure to find the margin that suits your needs and restrictions.
How big of a splash are you making with your ad placement? How can your brand use limited resources to drive the highest responsiveness? Share your thoughts in the comments!