Facebook Ads · On-demand

Best approach when first using FB Ads?

Anonymous

September 14th, 2015

I am the CEO of an early on startup in the on-demand/sharing economy, how have others approached FB ads? How much should I spend (on average) daily on FB ads to start? What is a reasonable conversion rate for FB?

Tom Oswald CEO at Videscape

September 14th, 2015

I would very strongly suggest you do a lot of research into the validity and accuracy of Facebook adverts until you spend a cent with them. We have been victim to face books fraudulent advertising to the tune of 100k and will never spend another penny with Facebook again. Facebook currently stands as the most expensive and least effective method for advertising on the internet today. There are far better methods of promoting your content and I would strongly advise you to take any of these routes 

Mike Masello

September 14th, 2015

Based on being in a similar position about a year ago our campaigns ran like this:

Aim to spend less than $1 per click, with a CTR of 1-5%, and a budget of $50-75/day… conversion rate varied over time and ad, but we converted at a rate of about 5%.

Gil Allouche Founder @ Metadata

September 14th, 2015

Ryan, What is your target audience? Facebook, like any other channel should be used with the right criteria/custom audience in mind -- so that you don't end up spending marketing and advertising budget on the wrong prospects (clicks that never lead to conversions) Gil | metadata.io

Brandon Lewin Helping Purposeful Businesses Make a Difference | Strategic Marketing Consultant | Marketing Training | Entrepreneur

September 15th, 2015

It depends on your target audience. You are best going the highly targeted route. Create content around the target audience. Get an awesome landing page and use the content to draw them in. Even implementing remarketing will help conversions tremendously. 

Starting off, you could get away with $25/day. Then you see how the results are. You never want to put in a ton of money starting off with online ads. There will be failure in the beginning. It will take about 3 months to 6 months to really find your groove.

Let's connect and we can talk more in detail about your audiences and your business. 

Eric Fransen Strategic, Digital Marketing | Lead Generation | Marketing Automation | Ecommerce | Paid Ads Expert

September 14th, 2015

Ryan - Campaigns are really based on your business, goals, budget, etc. It's tough for me to tell you how much you should be spending not know what your capable of and what the return would be. As far as generated traffic most Facebook campaigns should be able to get into the $.05 - .08 range per click when the segments are done correctly. I've seen them at a penny per click. 

Danny Cox Helping Brands Tell Better Stories

September 14th, 2015

Like Eric says, it really depends on what you're trying to achieve. Facebook has become an effective, affordable and accessible ad platform where there's an actual value exchange between advertisers and users. Depending on your overall budget and how your business model is set up, a small, targeted spend could drive some significant results. It may be worthwhile to work with a consultant/subject matter expert who can help you with a strategic approach to targeting, creative, and measurement. 

Anonymous

September 14th, 2015

My friends here in SD at 22Social are killer at FB marketing.  https://22s.com/app/site

I've sent you a LI request and can facilitate an intro once we're connected.

Anonymous

September 14th, 2015

Rocky I rather connect with you on FounderDating, I'll send you a message. Thanks!  

Bruce Carlisle Leadership, Strategy, BizDev, Marketing, Fundraising

September 14th, 2015

Putting aside the issues raised above: 1. Do not assume that FB is the best or only lead gen source otherwise you will simply optimize within one of the multitude of available silos (including Adwords and inventory on DSPs).    2. Lacking any other going in metrics your approach should be limited and iterative with the caveat being that if you spend too little initially, you might end up "proving" that the channel "doesn't work" - but you won't really know that until you spend enough to try multiple tagets and strategies.

Sajan Nair

September 14th, 2015

In my experience , FB is great for garnering Publicity , Likes, Shares,  and Eye balls....in such activities I have had a success rate of 0.75/per click ( Indian currency)  ...However actual conversion rate with respect to sales ...would largely depend on the kind of product/service you are looking to push ...so I am not sure there is consistent rate of return on FB ! 
However if it's a product that requires a very  precise TG profiling then FB does offer a much better scope than a lot other mediums out there ....