Long ago Peter Drucker, the father of business consulting, made a very profound observation about business as whole:
“Because the purpose of business is to create a customer, the business enterprise has two–and only two–basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”
Why is it then, that so many business owners get caught up in other rubbish?
There is no problem in a business that cannot be solved by more customers.
In our modern world where digital marketing is changing quicker than any form of marketing ever has before it is easy to get overwhelmed by it all.
Maybe that’s why so many business owners are sticking their head in the sand when it comes to marketing.
Are you putting you marketing on the long finger?
That said, there is one force dominating modern-day marketing: social media. We all know this because you (like me) likely check your Facebook, Instagram, and Twitter feeds several times a day. Well, guess what? Your customers do the same.
And in this group, there is one platform that stand head and shoulders above the rest. The Big F! Mac Daddy Facebook.
Nobody, and I mean NOBODY can ignore the potential opportunity Facebook has presented to business owners in the last number of years.
I’m sure you’ve heard about it…
There is countless examples of how people have used Facebook to drive ridiculous amounts of customers to their business at a fraction of the cost they would have spent on traditional advertising.
Have you been avoiding getting serious about Facebook advertising?
I’m not talking about just having a Facebook page here. Any 13 year old with a phone and a brain cell can have a Facebook page. I’m talking about the Facebook Ad Platform. Or the single biggest marketing opportunity of the last 10 years as I like to call it.
Seriously. get your shit together or you’ll be left behind. If you don’t, here’s 5 reasons I think your a complete idiot!
1.Your audience is on Facebook:
They are there. Waiting for you…
Facebook has a user base larger than the population of China! With 1.49 billion members worldwide, and 22 billion ad clicks per year, Facebook is providing businesses with the largest advertising opportunity since search.
So yes, your audience is on there somewhere – it’s just a matter of finding them (which I’ll get into in reason #3), but if you have doubts just re-read those stats because they are quite telling, my friend
2. Facebook ads are cheap:
Seriously, they’re practically free! Well, not quite. In fact, the reason you need to advertise is because getting traction from organic activity on your business page won’t yield results.
Just take a look at the graph below, which unfortunately proves that the days of organic reach are long gone; your posts just aren’t showing up in your fans’ Facebook newsfeed:
On the bright side, Facebook ads tend to cost a fraction of what other online marketing channels cost. For instance, WordStream’s Paid Acquisition Coordinator, Brett McHale, ran a Facebook remarketing campaign for his sister’s small business and was able to reach 200 people who visited her site with just $5 per day. Pretty impressive.
If you’re strapped for cash, just ensure that you set reasonable daily Facebook budgets so you don’t exceed what you’re able to spend.
“It’s not a question of how much Facebook costs, but how far your money will go,” says Brett. “If you go into Facebook advertising with a clear focus and follow a simple strategy, the cost-efficiency of the platform will astound you.”
The graph below from Brian Carter’s Moz article really says it all. In terms of cost to reach a thousand people, Facebook is far less expensive than all other channels (online and offline):
“If you spend $1 per day on Facebook ads, you will get in front of 4,000 people that wouldn’t have seen you otherwise,” says Brian. “If you can’t spare $30 per month, you shouldn’t be in business.”
3. The targeting capabilities of Facebook are exceptional!
Along with tons of different ad types, like video ads, the level of granularity you can get with Facebook targeting capabilities is beyond belief to me.
You can literally target President Obama or the Prime Minister of France.
Whether it be by behaviors, interests, demographics, connections, age ranges, languages, or locations, you can dig pretty deep with these targeting capabilities and layer them upon each other to ensure you’re getting rid of any questionable, out-of-market clickers.
4. Facebook is extremely effective at pushing ‘On the fence’ customers into your funnel:
Still nervous? Try out remarketing on Facebook through custom audiences.
This strategy works wonders for marketers because remarketing works by targeting an audience that has already visited your site, and therefore is more likely to be interested in your products or offerings at some level.
Just because they didn’t buy at that very moment doesn’t mean they don’t want to buy.
They could have been distracted, they might now be ready to buy just yet, they could have been late for work. Anything could have happened.
Remarketing allows you to give them a gentle reminder of what they were interested in earlier.
5. Facebook allows you to clone your customers:
Once you’ve found an audience that converts like crazy, you can clone them.
I kid you not!
The feature is called “lookalike audiences” where you can take a custom audience and Facebook will reach NEW people who are similar to that audience and therefore likely to be interested in your business.
Lookalike audiences can also be built with conversion pixels (for instance, the conversion pixels from your paid search ads!), install data from mobile apps, or simply from fans of your Facebook page.
You can also further define the size and targeting options to ensure your lookalike audience is an accurate reflection of your target buyers.
“This approach takes the guesswork out of targeting for user acquisition, leading to increased revenue,” says Content Marketing Manager at Nanigans, Julianna Casale. “Wine ecommerce company Club W saw a 5X increase in revenue when they ‘paired’ their video ads with Lookalike Audience target.”
If you want to keep up and beat your competitors, follow my advice and hop on the Zuckerberg bandwagon/gravy train – it isn’t bad! In fact its great!
If you don’t, I bet your competitors will.
Don’t be an idiot!