How To Grow Your Product Business Through Facebook Ads

Advertising your product business on Facebook can help to target new audiences, increase sales and grow your business. Changes to the Facebook algorithm have resulted in many business’s organic reach declining, meaning advertising on the platform is the best way to get your product in front of your ideal customer.

Many of my coaching clients have utilised Facebook Ads to rapidly grow their business and increase sales. Whilst they come with an upfront cost, ads can be a key step in scaling your business, so view them as an investment!

So how exactly can you best utilise Facebook ads? Read on for my top tips.

Why Advertise On Facebook?

Facebook is the largest social media site in the world, with over 80% of all internet users on the site. This means there is the potential for getting a huge amount of eyes on your product.

Facebook ads allow you to micro target your audience, meaning the money you spend on the ads is more likely to pay off and convert to customers! You can target your audience based on demographics, interests, location, behaviour, age, connections and more. The targeting capabilities on Facebook are more advanced than any other platform.

You can also create ads tailored to your specific objective, such as increasing website clicks, post engagement or page likes. 

Types Of Facebook Ads

Image

Single image ads are the most simple ads you can create on Facebook, however they have been shown to be one of the most effective formats. You can create a single image ad from an existing post on your Facebook page, or you can create a new one in Facebook Ads Manager.

Video

Video ads are a great way to showcase your product and grab the attention of users. Consider creating a video that shows your product in action, emphasises your product’s unique feature, or helps to tell your brand story. Video ads can run in News Feed and Facebook Stories, as well as in stream ads in longer Facebook videos.

Carousel

Carousel ads can consist of up to 10 images or videos in the one ad. Carousel ads can be used to showcase multiple products, highlight different features of a product or explain a process. Each image or video can link to a different URL.

Collection

This ad format allows you to advertise multiple products. A collection ad will open up into an ‘instant experience’, which is a full screen experience that opens up after someone taps on your ad.

Top Tips For Getting The Most Out Of Facebook Ads

Factor the testing phase into your budget

Facebook ads often require some tweaking before they become successful. Factor in the cost of testing into your ads spend budget, and consider running A/B testing to see which ad performs better.

Carry out remarketing

Remarketing campaigns allow you to target users who have already visited your site or interacted with your content. Remember that people often need to be exposed to a brand three to seven times before they buy, so remarketing allows you to build up the ‘like, know, trust factor’. This type of ad usually has a higher conversion rate, so it can be a good use of your marketing budget.

Remember to track and analyse your ads

Once you have your ad up and running, it is important to continually analyse how well it is doing. The cost per click (CPC) is how much it costs you to get a single click through to your website. The average CPC ranges depending on industry, however the average retail CPC is $0.70 USD.

Tracking how many clicks and how many actual sales you are getting from your ads will help tell you if your ad is performing well or not. If your ad is underperforming, try going back to the basics and ensuring the product copy and imagery is of a high standard, and tweak your audience targeting.

Facebook Ads is a complex topic, however I hope this guide will help you with the basics of Facebook Advertising. Outsourcing Facebook Ads by hiring a Facebook Ads Manager can help you make the most of your ad spend and can be a great investment for your business. 

For more advice and support on how to scale your product business, join my signature Mastermind, The Creative Product Institute. For more information, click here.