Facebook was offering up the “Holy Grail” of advertising in 2007. Two years on, what’s changed, better still, what has improved?
It’s no secret that Facebook has never been the “Holy grail” of advertising that is so promised in November 2007. Yes the site had to undergo some radical changes after the failure of Beacon, but the site still offers up some 350 million consumers. Surely advertisers can take advantage of this, but how?
I was there at the IAB Engage conference in 2007 listening to Facebook executives explain how they were launching something revolutionary in the digital marketing landscape. But despite all the fact and figures that pronounce the majority of ad budgets are going to social networking sites, why have the ads not got any better?
Alterian’s “Annual Survey 2009″ — which included 1,068 marketers, 62% North American, 36% European and 2% from the Asia-Pacific region — found that 40% of respondents were shifting more than one-fifth of their traditional direct marketing budgets toward digital and social media channels.
Overall, 66% of marketers plan to invest in social media, while 67% increasingly important or critical to success.
So where are all these ad dollars going then?
Just today, UTalkMarketing reports that Facebook is increasingly falling victim to hackers which could lead to users distrusting advertisements they see on the site. What’s a way around this for advertisers and marketers then?
The key is engagement. And to be honest, it’s probably a drum you’ve heard us bang before.
But with more and more users less likely to leave Facebook and as the number of users goes over and above 350 million worldwide, marketer would be silly to ignore the medium.
However, the key for advertisers now is to find the right way to advertise on the site.
Fifty-seven per cent of marketers plan to use their budgets to improve their websites so that they can open dialogues and increase engagement with consumers.
But how do marketers do this?
Here are some simple steps to get you started:
Step 1
Go the advertising page on the Facebook website. Click on the “Advertising” link at the bottom of the page. Click on the “Create Social Ad” button to get started.
Step 2
Insert your website. This is where users who click on your ad will be directed.
Step 3
Target your ads. On the next page you’ll have the opportunity to choose the demographics you want your ad displayed to. Choose a gender, age group, educational status, relationship status or political views or leave the options blank to create a more inclusive group. In the keywords section, put in keywords relating to the interests you would like your targeted group to have.
Step 4
Create your ad. Move to the next page to input your Facebook ad. Create a short, catchy title and a few sentences of copy to explain your website or product. To insert a photo, click “Upload Photo” from the drop down menu below.
Step 5
Choose whether you want to pay per click or per view. When you pay per click, you’ll only pay Facebook when someone clicks on your ad. When you select pay per view, you’ll pay every time your ad is displayed to a user. Then, click on the appropriate tab.
Step 6
Set a budget. Put in the amount of money you’re willing to pay every day. You may pay less than this, but this is most money you’ll pay for one day of Facebook ads.
Step 7
Bid for ad space. Facebook determines which ads to display by how much you’re willing to pay per click or per 1000 impressions. Choose the maximum amount you want to pay. The amount you actually pay depends on how much other advertisers have bid, so enter the maximum amount you’re willing to pay.
We’re still waiting for the “year of social media” and 2010 could be it. There certainly are a number of tools now available for marketers to track ROI on Facebook, but I’ll save that for another post.