Hoosier Banker 41 started” guidelines and best practices, rather than a step-by-step “how to.” Choose Your Marketing Goal In any marketing endeavor, no matter what tactic, you should have a clear idea of what you’re trying to accomplish with the tactic. Facebook starts here, too, and gives you a menu of marketing objective options to choose from. Your marketing objective could be brand awareness versus reach. Other considerations include traffic, engagement, app installs, video views and lead generation. Choose Your Audience Who are you creating this ad for? This should be one of your first steps when planning any sort of marketing piece. With Facebook ads, you have several options: • Core audience. You can choose an audience based on a set of demographics such as age, location, interests and behaviors (e.g., what sort of devices they use, what they purchase). • Custom audience. This option lets you upload a list, or use a list you’ve cultivated through retargeting efforts or use of your mobile app. • Lookalike audience. You can use your customer information to find people who are similar to your customers on Facebook. Not sure where to start? Check out your page’s audience insights area to find out more information about who likes your page, and who is interacting with your page. Choose Your Budget Even if you have a small advertising budget, you can still get started. You set your budget limits, so you only spend as much as your budget allows, and no more. The ads work like an auction, and the cost associated with your ad being shown to someone is determined by the auction. How do you determine your budget for Facebook Ads? There are a couple of ways you can do it: (1) daily budget or (2) lifetime budget (along with your budget cap). For most ads, you’ll also have a minimum range that you have to spend per day, otherwise your ad will not get shown. There are many factors that will determine how many people see or click on your ad – your budget, the type of bidding you choose, your audience (broad or narrow), etc. Creating Your First Ad You can create your first ad a couple of different ways. If you simply want to boost a post that already is on your Facebook page, go to your page and click Boost Post. Facebook will also give page administrators notifications that a particular post is performing well, with the option to boost the post. This is a good way for beginners to start experimenting with paid social media posts. Or, you can try out Ad Creation through the Ads Manager. This starts you at the Pick a Marketing Objective wizard and guides you through the ad creation process. You get more options and control this way. As of this writing, you now can run ads on Facebook, Instagram and Audience Network through Ads Manager. Note: It is recommended setting up the Facebook Business Manager to manage your campaigns. This topic will be covered in a separate article. Examples of Ad Formats The current options for choosing the format for your ad are: • Text-only. This is more of an option for a boosted post. If you go to Facebook Ads and click on Ad Formats, the text-only option is not even mentioned. • Photo. A photo post is practically the most basic kind of ad you can run. You can also post this photo ad on Instagram. • Video. Facebook is all about video right now. According to its analysis, over the last year on a global scale, daily watch time for Facebook Live broadcasts has quadrupled, and time spent watching video on Instagram has increased by 80 percent. This growth seems likely to continue: 45 percent of people surveyed in the United States and Canada indicated they expect to consume even more video on their smartphones in the future, and Cisco predicts that by 2020, over 75 percent of the world’s mobile data traffic will be video. • Carousel. Facebook claims that Carousel ads perform better because they’re bigger, they’re interactive, and they’re flexible. You have more space to tell your financial institution’s story, not just one product or promotion. Users can swipe through F C I Floodplain Consultants Inc. "We visit the site!" www.floodplain.com TM PREFERRED SERVICE PROVIDER OF THE IBA. Serving Indiana lenders since 1991 HOW IS YOUR FLOOD ZONE DETERMINATION PROVIDER HANDLING BORDERLINE CASES? Flood Zone Determinations LOMA/LOMR Assistance Flood Insurance Guidance Interfacing with: Encompass 360, Calyx Point, Byte Pro & Fis-Serv We take pride in our industry leading accuracy and customer service. Find our what a true “community bank” minded company we are. Craig Callahan 800-945-0246 ccallahan@ oodplain.com
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