How to get the best return on investment from Facebook…
Think value over brand
Strategy is vitally important when it comes to Facebook advertising. More than a third of Facebook users regularly interact with at least one of Facebook’s 60 million business pages – so there’s a potentially massive captive audience to target.
But it is crucial to determine what your consumer will get from your advertising, what value does it have for them? Know your target audience and keep in mind what they will get from your advertising. The idea is not to go too far in self-promotion, but rather to emphasize value, whether in the form of educational content, answering a question or helping to solving a problem.
It’s important when it comes to advertising on Facebook that you offer something in exchange for the consumer’s contact information. It could be an instant valuation tool like ValPal that gives consumers an estimate of the value of their home, or it could be downloading a free guide on a crucial topic in the selling or renting industry.
A/B split testing
Used to experiment with different line items, A/B split testing on Facebook is a great way for marketers to set up multivariate tests to see which ad variant is most effective. This tactic can be used to find out what ad titles, body copy, images, call-to-actions, or a combination of what works best for your target audience.
Additionally, you can experiment with multiple Facebook audiences and ad placements to determine who your ideal audience is and with which placements they can be reached. Getting the most leads isn’t always about what you like, it’s about what works.
speed to steer
Most people now have a short attention span, especially when browsing social platforms, so it would be advisable to get on the phone as quickly as possible with your potential client to convert leads.
In order not to rely on your customer’s memory and what he clicked on the day before, acting quickly to capture a lead will be the most effective strategy. Opening the door to a conversation by asking them why they got an appraisal is a good start, as these leads won’t be as hot as clients coming directly to you to sell their property.
Feed your leads
Don’t be discouraged when you realize your potential customer may not be ready right away. In fact, most leads from an instant valuation tool tend to hit the market 3-8 months after the initial valuation request. Lead nurturing is about engaging and building relationships with potential customers to nudge them in the direction you want. Often they need more detailed information about your offer, or they just need more time to make a decision.
It will also help you generate more brand authority. By regularly sending your prospects relevant content, they will learn to trust your business, which often results in greater customer loyalty.
It would also be a good practice to call back your old prospects as well, and the key to this will be to strike when the time is right, as they may not be ready immediately. It will be essential that you check out these leads further down the line and convert them when they are ready. If you’re spending money on marketing, you’re making an investment, so calling them once and not following up is wasting your money.
Evaluate your ROI over a 3 month, 6 month, and 12 month period rather than a monthly basis, especially if you are new to Facebook Ads. While the platform often produces immediate results in terms of lead generation, converting them can take longer, which means it’s crucial that you don’t limit your ROI view to a month when those leads could convert. for you in three or six months.
One of our member agents gave us statistics to prove it. They’ve spent £13,000 on Facebook ads, and in sales made and under-delivered, they have an income of £60,000, making a profit of £46,000 in just over a year. Additionally, they made £17,000 in extra sales when they created a lead from a datamine from old ValPal leads from before MovePal.
The bottom line
These guidelines mentioned above will give your campaigns a better chance of battling in the sea of cyberspace.
While there’s no magic formula to winning customers, Facebook ads actually work – it’s been proven time and time again. You just need to optimize them appropriately to get the best ROI.
It takes time, work, and even a little luck and good weather to get the most out of Facebook ads, but the tips above should increase your chances of getting a good ROI.
Here at the ValPal Network, we can help you achieve that goal and more. For more information on the services we provide, please contact us at [email protected] or call us on 020 8663 4930.
For more information on how we can help you grow your online business and generate leads effectively, you can check out our social media marketing department.
*The ValPal network is owned by Angels Media, which also owns the Today sites