How 2 Create Facebook Advertising Campaigns
The following post is from Sara Wu ’17, a Butler Venture Accelerator team member.
Last fall, the Blank Center hosted a How 2 Tuesday with Andrew Krebs-Smith MBA’13, Founder and CEO of Social Fulcrum. During the session we How to Create Facebook Advertising Campaigns.
About Andrew Krebs-Smith MBA’13
After building digital departments within traditional agencies, Andrew founded Social Fulcrum in 2011. Andrew loves teaching and is an instructor for General Assembly and Startup Institute. Previously, he studied marketing and advertising at Loyola University and received his MBA at Babson College.
Andrew’s company is now based in San Francisco, it has 21 employees and 3 Million run rate in September 2016. Andrew explains that his success comes from bringing in differentiated expertise to a fast-growing market.
Why are Facebook Ads important?
Despite the fact that Facebook Ads work on a targeted audience reach and is interest based, it distinguishes itself by demonstrating good data. Facebook’s data collection is based on people. It is extremely accurate compared to other platforms due to data scale-up, caused by its massive audience size and their attributes to their profiles. It challenges the traditional way of going through multiple agencies to obtain data, rather it replaces all those agencies and takes up all the margin.
What is the process of creating an advertisement?
When creating an Ad on Facebook, these are the key steps to success.
- Set up technical infrastructure (Use GTM, or Facebook SDK)
- Pixel (placing a pixel on your website to discover who buys what on your website. It’s important because it draws correlation between different behaviors and through data, rather than singling data that does not have a meaning by its own. After this, you will find who your best customer is.
- Naming Convention: Make sure your data is described in an accurate way. Make note of key variable that describe how you target your audience: describe image, text and image, Because then when you run pivot tables, Facebook will give you lot better data based on your specification
- Good resource: https://www.facebook.com/business/news/product-ads
If you have a start-up and have the intention to run only one ad because of tight budget, you can still obtain information from OCPM (Optimized CPM), because by detect each pixel hitting, Facebook will detect what kind of people and gets more people like that.
2. Text Set-up
The key lies on the mixture of image and text by singling them out first. The image itself doesn’t sell you the product. You need to choose the best option mixture and test wide range of IMAGES, see what is best and stay with that image, after this process, the selected image becomes the constant, and you can start testing TEXTS, and find out which text attracts more people. At that end, you mix them up together in order to achieve higher retention rate.
3. Fix Set-up
Prioritized list of what different audience cost you and budget around the audience.
4. Ad Testing
- Be specific with your ad strategy. Maximize the utility of each component in your ad by singling them out.
- Run separate tests on Facebook.
- Draw connections between sets of data, rather than analyzing data sets separately. It helps you better understand your customer and attracted audience.
- List of priorities of what different audiences cost you and budget around your audience.
See you for #How2Tuesday in February 2017!
What are #How2Tuesdays?:
Want to learn something really practical to get your startup moving in the right direction? #How2Tuesdays are short, workshop style sessions meant to bring you very specific, user friendly instruction on some of the most important things you need to know how to do for your venture. Every Tuesday at 5pm in the Blank Center!