Deep Breath! A Noob Begins FB (mis) Adventures (7)

1. Are these news feed ads? If so the CTR is quite low. Would you mind showing us some of your ads?

2. On a CPC basis you pay per action, and not 100% will be likes, so yes this is quite expensive - if you pay say $0.50 per fan then you're unlikely to make money with a fan page unless you have a very high average revenue per fan, e.g. if your page is for a product/service where you a very good at engaging your fan base and driving them to make purchases.

3. Yes, sliding scale, but on the high side most likely. If it's a legal firm for example this might be fine. If it's an online store selling $10 iPhone cases, probably not so great.

Most clients would not want to pay close to $2 per page like. That's a very expensive audience building exercise since the act of liking a page has little value in itself and gives no indication of user intent to purchase or engage with the brand - people like things on a whim. You'll need to work on ads at the creative level and targeting/demographic selection to really bring this down. If I was getting paid $2 per page like I would probably be able to make a lot of money no matter the page...

Could you elaborate on your specific targeting and some of your ads? You'll likely get some very useful suggestions.

P.S. have moved this to follow-alongs to add some pressure!

If you have any clients wanting to pay $2 per FB like, send them to me!

I'll even kick back $1 per like to you

I'm both the client unwillingly paying close to $2 and the inept marketer; rolled up in one ;-)

Wow, I'm so appreciative you replied! I was beginning to think I had the world's lamest post. As I replied to cmdeal --> I'm both the client unwillingly paying close to $2 and the inept marketer; rolled up in one ;-)

Zeno, I hope it's ok to put my comments in between yours. So, here goes!

ZENO WROTE: 1. Are these news feed ads? If so the CTR is quite low. Would you mind showing us some of your ads?

Yes and Yes. (For the 2nd, nothing personal. I would love to get the feedback, but have reasons not to disclose.)

ZENO WROTE: 2. On a CPC basis you pay per action, and not 100% will be likes, so yes this is quite expensive - if you pay say $0.50 per fan then you're unlikely to make money with a fan page unless you have a very high average revenue per fan, e.g. if your page is for a product/service where you a very good at engaging your fan base and driving them to make purchases.

First, without knowing details of my particular campaign it must be hard for you to give a more granular response, so thank you all for ANY feedback.

I'm trying to target a small subset of people within the groups FB calls Established Elite, Urban Tenants with discretionary $$$ to spend on 3-to low 4-figure luxury goods. These typically tend to be 45 and up, urban, men and women, educated.

GOAL FOR ME, AS CLIENT:

My business fan page has NEVER made any $$ or driven traffic to my website or brought me in new customers. Currently, most posts "reach" organically 4-5 people. (Especially since FB killed organic.) Pretty awful, I know. Right now about 250 page likes. Competitor, well-funded with 3K.

As my own "client" I am trying to see if there is "Life on other Planets" -- IOW, my current core customer base is growing older, does NOT have much leg or interest or skill in Social; is a very small pool of people; and IMHO, would NOT have any value in organically growing my biz by marketing to them via FB or Social. Plus, I can't saturate them any more than I already do through old school traditional channels.

I'm looking for new people, new faces, possibly younger faces.

Not in love with page likes, but Viper Chill Glen and others I've read suggested/infer that you need a critical qty of likes for "social proof." I believe Glen said if you had a great pake like campaign going you could mid-stream it to a more productive CTA campaign.


SUMMARY. I'm acting as both "client" and amateur SM Guru to me, the client, for 2 GOALS. 1. is a repeat or elaboration of the above stated goal:

1. To fail as many times at my own business as SM guru wannabee until I learn and succeed how to market my own business. Again, the purpose = new audience, new leads, diversify customer base, future-proof against current aging customer base.

I sell luxury goods to a slim pool of people being offered a unique item. Each potentially something they don't even KNOW they want to buy until a tremendous amount of $$ and effort is gone into explaining to them what it is and marketed to them. (Think trying to sell someone a "whatthehellisthatthing?" of which you research intensely, write a 20 page e-book, market it, possibly sell your "whatthehellisthatthing?" (or not) and then REPEAT to do that with EACH and EVERY one of your items in inventory, 365, 24/7.)


2. Once I've proven to myself that I can market my own business, I want to try to be a FB AM, (soaking up what knowledge I can from STM, wherever, whatever) and target other spaces, like mine, BUT are non-compete with my current biz. I will look for parallels where I can apply strategies and knowledge I will be learning.

PERSONAL NOTE

Like IM is I imagine for many, my own biz is very volatile; very feast or famine. I am not adverse to risk or hard work or failing. Knowledge is power and the only thing I detest is people who use their education and knowledge as a weapon to belittle or condescend those who do not know what they are fortunate to know.


ZENO WROTE: 3. Yes, sliding scale, but on the high side most likely. If it's a legal firm for example this might be fine. If it's an online store selling $10 iPhone cases, probably not so great.

Most clients would not want to pay close to $2 per page like. That's a very expensive audience building exercise since the act of liking a page has little value in itself and gives no indication of user intent to purchase or engage with the brand - people like things on a whim. You'll need to work on ads at the creative level and targeting/demographic selection to really bring this down. If I was getting paid $2 per page like I would probably be able to make a lot of money no matter the page...

Right $2/like to me as a "client" has NO value other than to "validate" my business. I thinking I'm paying a huge amount just for "social proof" but targeting Nigeria, Romania, etc. etc for "cheap likes" according to the YouTube video I saw seems like a road to hell, i.e. you get what you pay for.

ZENO WROTE: Could you elaborate on your specific targeting and some of your ads? You'll likely get some very useful suggestions.

Again, I really appreciate the feedback. I wear many many hats in my own biz and the design, marketing and advertising side of it O/L aspect has ALWAYS fascinated me. Thanks.



ZENO WROTE: P.S. have moved this to follow-alongs to add some pressure![/QUOTE]

Right, on the same page now.

Not revealing your ads, targeting, page etc. is all fine - I understand discretion.

You seem to understand the audience very well and thus Facebook is an excellent traffic source to focus on due to the sheer breadth of targeting options - both those relating to user attributes as well as their interests and behaviours gleaned from first and third-party data.

In this case I would focus less on likes and more on acquisition, i.e. getting users to take the first step and begin corresponding with your brand via an email optin.

I don't believe the number of likes your page has is going to have much influence on the success of an acquisition campaign at all. If your ad truly engages a user, they aren't likely to check the page and leave if it doesn't have some arbitrary number or likes. Most users don't care about this kind of thing - it's kind of like seeing a nice restaurant, walking in and asking how many stores they have nationwide and leaving if they have less than 10.

If this is largely US-based I would highly suggest you explore the various partner behaviours available - purchase behaviours, buyer profiles, etc. You could segment your prospective user base into dozens of 'high value' targeting brackets and then split-test these.

You can for example target people who have, according to third party data from Acxiom, Datalogix, Epsilon, etc., recently purchased luxury goods, are homeowners, and have a net worth of over $500k.

Your audiences may get very small and the ads may be relatively costly, but it sounds like you are in a position where your customers may have a very high value if converted.

Also, I would recommend using a Facebook conversion pixel (or custom website audience code) to start logging converted users into a list asap. This way you will be able to let Facebook generate a lookalike audience based on user attributes and these can be very effective for scaling.

Originally Posted by zeno

Right, on the same page now.

Not revealing your ads, targeting, page etc. is all fine - I understand discretion.

You seem to understand the audience very well and thus Facebook is an excellent traffic source to focus on due to the sheer breadth of targeting options - both those relating to user attributes as well as their interests and behaviours gleaned from first and third-party data.

In this case I would focus less on likes and more on acquisition, i.e. getting users to take the first step and begin corresponding with your brand via an email optin.

I don't believe the number of likes your page has is going to have much influence on the success of an acquisition campaign at all. If your ad truly engages a user, they aren't likely to check the page and leave if it doesn't have some arbitrary number or likes. Most users don't care about this kind of thing - it's kind of like seeing a nice restaurant, walking in and asking how many stores they have nationwide and leaving if they have less than 10.

If this is largely US-based I would highly suggest you explore the various partner behaviours available - purchase behaviours, buyer profiles, etc. You could segment your prospective user base into dozens of 'high value' targeting brackets and then split-test these.

You can for example target people who have, according to third party data from Acxiom, Datalogix, Epsilon, etc., recently purchased luxury goods, are homeowners, and have a net worth of over $500k.

Your audiences may get very small and the ads may be relatively costly, but it sounds like you are in a position where your customers may have a very high value if converted.

Also, I would recommend using a Facebook conversion pixel (or custom website audience code) to start logging converted users into a list asap. This way you will be able to let Facebook generate a lookalike audience based on user attributes and these can be very effective for scaling.

My follow up reply was too lame. Thus I am deleting it ; - (