Six ways companies cash in on Facebook ads

We have all seen them, but how many of us have made good use of Facebook ads? The major selling point on a network site of users that surpasses the size of most countries is this: the ads only display on the Facebook pages of the exact people you want to reach.

Here are six ways to make Facebook ads your new Facebook friend:

1. Know your target audience

The social networking giant allows you choose the users who will view your ads. It’s up to you to enter the game knowing your guidelines and designing an ad campaign based on variables like age, gender, workplace, relationship status, location, and even keywords. Remember that adverts are all about conversation. The greater the relevance of your add, the better your conversation and the more customers you naturally attract.

2. Link ads to other Facebook locations

Ensure your ads send people directly to your company’s Facebook page, group, or event. Many entrepreneurs naturally want to get users onto their site as paying customers, but consider the added variable: the option of multiplying the marketing effect of your add. Each time someone becomes a fan, likes, RSVPs on your page, group, or event, or simply posts a comment — it shows up on that person’s news feed. This means that countless others who may never have heard of you are willing to try out your company’s service or product. Facebook is version two of word of mouth.

3. Simplicity works

When it comes to the net, it seems our attention spans are shrinking. Add to that the practical fact that headlines can only have twenty-five characters. So you have a very limited space in which to make a big statement that attracts attention. Take time to choose your words carefully – and choose them for impact. Facebook offers every ad user the option of adding a photo. The short, non-negotiable response is “do it!” A photograph can be the most important feature of your Facebook ad.

4. Variety matters

Create multiple versions of the same ad. Test each version and keep records of your response. This may sound time-consuming but it is well worth the effort, as veteran blogger Miranda Surgey explains. When you think about it, it is your money and energy that you are spending. Make the most of it by ensuring your ad’s effectiveness.

5. Facebook Insights tool

Facebook Insights provides Facebook page owners and Facebook platform developers with metrics around their content. By understanding and analysing trends within user growth and demographics, consumption of content, and creation of content, page owners and platform developers are better equipped to improve their business with Facebook.

6. Show legitimacy

While Facebook does discourage “get rich quick” schemes in its advertising, and so they should, they do not care about quality score for legitimate sites. They only care that your site is a true representation of advertisement. Once an ad is approved, pausing and restarting an ad in your Facebook advertiser account is instant.

With more than 500 million users and growing daily, Facebook surpassed Google in 2010 as the most popular site on the internet. Americans spent an average of 23% of their time online on social networking sites in 2010, compared to 16% in 2009. As usage of these social networks increased, businesses quickly realised how profitable Facebook Ads can be and begun incorporating them into their online marketing strategies.

One year from now, Facebook Ads are predicted to have doubled from $665 million to $1.28 billion, and are forecasted to continue the steep upward trajectory into 2011.