Back in 2007 when I made my Facebook profile and Facebook first hit the mainstream (beyond the walls of Harvard), not many of us knew how much of an influence this social network would have and what an integral part of our daily lives it would become. Now there are two billion people on Facebook – the world has changed and become more connected one GIF, meme and viral video at a time.
So if all this awesome stuff and people are on Facebook, why isn’t your business? The short answer is: it should be. Household brands like Nike, McDonald’s, Apple, and so many more are all taking advantage of Facebook/Instagram ads and creating dynamic stories to lift their brand and reach their marketing/sales goals. But startups can also benefit, in some ways even more than bigger brands.
Look familiar? You’ve probably seen these floating around in your Newsfeed. Here are some examples of Facebook ads:
Check out this ad we did for startup, Wully Outerwear:
We ran this campaign recently for The Body Shop Canada:
While The Body Shop is a large company, for startups specifically, it becomes difficult to raise awareness about your brand and sell a product/service nobody has heard of. Facebook can allow startups to have an ongoing presence online and target the right people to consistently drive awareness. This can help startups scale quickly. Here are 3 reasons Facebook ads can be a game changer for your startup:
1. Test your messaging, value proposition and offers
Facebook allows startups to test their messaging. How do you want people to perceive your product/service? Is the way you’re presenting it resonating with your ideal customer?
You can quickly see if a campaign is working and if certain aspects aren’t, then you can test new creative, targeting, formats, offers or a combination of these factors to get the results you want.
Traditional media doesn’t allow you to change aspects of your campaign quickly. But with Facebook you have the luxury of experimenting like a mad scientist! And by using an always on media buying approach, you can reduce ad spend waste and ensure your messaging works.
Facebook gives you this instant feedback loop where you can track the ROI. This quick turnaround time lets you achieve your marketing/sales goals faster.
2. Hit target market/niche audience and gain insights on your consumers
Imagine laser targeted ad campaigns. With Facebook the targeting capabilities are unmatched. Through targeting categories like interests, demographics, behaviours and location you are able to reach your ideal audience/customer.
Facebook ads also help with lead generation. You can capture information like email addresses (very important) from people who already display interest in your product/service. Also, through retargeting tactics you can show ads to people who have already engaged with a page on your site and shown an interest.
At Abacus we believe you should choose one metric that is most important to you then optimize for that specific conversion. Usually, this conversion is a business objective (lower CPA) rather than a social objective (likes, impressions, etc.). By targeting the right audience and focusing on one metric you are able to reduce ad spend waste.
Optimize for conversions closer to the end of the funnel so that you can tie back spend to real business results.
Designed by Abacus
3. Developing creative for Facebook ads is less expensive than other types of media
Facebook ads require creative, but typically it’s less costly to create compelling images, video, and cinemagraphs than for other media formats.
There are so many resources to create stellar creative without having to hire an in house graphic design and motion animation team. For startups this can help save money and time for your in house team. Maybe you have a larger suite of creative needs though, and that’s where hiring a team like Eighty-Eight could be a fit to help with your Facebook creative, as well as other design assets.
If your startup isn’t on Facebook then you’re missing out on a huge opportunity to bring awareness to what your company does.
If you need help creating more effective Facebook ads for your startup consider working with an agency that specializes in Facebook ads like Abacus. We’re a partner of Eighty-Eight’s and we already help their clients drive traffic and sales through Facebook – so let’s chat!
Amanda Desouza is the Community Manager at Abacus, a Facebook performance agency based in Toronto. Abacus is one of Eighty-Eight’s partner agencies, and they used to share office space until one of the teams got too cool. We won’t name names.