September 13, 2017 | By: Kristen Moore

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Are You Wasting Your Money On Facebook Ads?

It seems like everywhere you turn, people are just raving about how great advertising on Facebook is. However, Facebook ads aren’t one size fits all. Just because you throw a few dollars into an advertising campaign on Facebook, doesn’t mean you are guaranteed to get immediate outstanding results. While it may make sense for one business to be spending thousands of dollars on Facebook ads, realistically it may be pointless for the other company.

We’ve created this mini quiz to help you decide if your business is right for Facebook advertising, or if you are just wasting your money on Facebook ads.  Grab your pencil and calculators; you’re going to have a little bit of math to do!

Take The Quiz

  1. How does your typical customer find out about your business?
    1. Google Searches (1pts)
    2. Work of Mouth / References (3pts)
    3. Walk-Ins (2pts)
  2. Do you have an email list of past and current customers, or people who have subscribed to your newsletters?
    1. Yes (2 pts)
    2. No (1 pt)
    3. Yes, my email list contains over 100 emails. (3pts)
  3. Are you willing to spend at least the bare minimum of $160 a month?
    1. No (1pt)
    2. Yes (2 pts)
    3. Yes, I’m even willing to spend more than $500 a month. (3pts)
  4. Is your website optimized for conversions? Do you have a separate “Thank You” page when people make a purchase or fill out a contact form on your website?
    1. No (1pt)
    2. Yes (3pts)
  5. Is your product or service considered B2B or B2C?
    1. B2B (2pts)
    2. B2C (3pts)

Check Your Score

6-7 points:

You might not be the best candidate to be running Facebook ads at this time, but that’s not to say that you should completely ignore the idea forever.

Depending on your circumstances we might have better solutions that would be more effective for your dollar spent. For example, if you are a B2B business, we might suggest spending that budget reaching people in your target industry on LinkedIn.

In the meantime, we highly recommend that you start collecting email addresses. Collecting emails doesn’t mean buying email lists from a variety of random sources but collecting email lists from your previous, current and future customers.

Here are several great ways you can start collecting emails to build your email list in case you need help getting started. Based on your score, your visibility will be limited when using Facebook Ads, so we recommend at least collecting over 100 good emails before starting a Facebook Ad campaign.

In addition, we might suggest using Google Pay Per Click (AdWords) ads which will allow your customers who are actively looking to find your products find you at a cheaper cost based on your circumstances.

Although you may find other social blogs telling you that Facebook Ads typically cost under $0.25 per click, your ads will likely not fall into this category until improvements have been made.

We cannot stress enough with all the social media blogs and misinformation that is out on the web today, that social media is not a one-size-fits-all advertising platform.

8-10 points:

Based on your results, Facebook advertising could be beneficial for your business, but likely will need some minor tweaking first to make it even more effective.

Luckily, at MARION, we have all the right resources from web development, to content creation and everything in-between to help your potential customers find you through Facebook ads.

10-15 points:

Congratulations! Facebook advertising is, in fact, a great choice for your business! Based on your score, you likely have the right assets to make your Facebook campaign super effective while getting the most advertising bang-for-your-buck which is what most businesses strive to achieve.

Your business may rely on disruptive advertising such as Facebook ads to discover you, especially if your customers aren’t actively conducting searches on the internet to find you.

The Takeaway

As more businesses are getting onto Facebook and utilizing Facebook Ads, there is more competition now than ever. For those businesses where it makes sense to invest in Facebook Advertising, it can be extremely beneficial to branding your products or creating awareness for your business.

On the contrary, businesses who are using it as a form of lead generation may need to be optimized before being able to reap the benefits Facebook Ads have to offer.

At MARION we have tons of experience using Facebook ads to create campaigns for almost every type of business imaginable. If you’re looking into starting a Facebook advertising campaign, contact us today to find out how we can apply our resources to make it happen!

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About Kristen Moore

Kristen Moore graduated from Florida International University with a Bachelor's degree in Advertising Communications and a minor in Marketing. She is passionate about staying on top of this ever evolving industry by attending various social media marketing events each year. Kristen is in charge of Social Media Management and Reputation Management for both national and local based clients at MARION.