Millennial Marketing and Facebook Ads
What do you do if you want to show your ads to single females between the ages of 22 and 26, who are interested in Jack Johnson, traveling, and enjoy the hit TV series “Lost”. – Answer – Facebook Advertising
You can only narrow your targeted advertising down so far when using some of the traditional online advertising strategies. Google Adwords allows you to target specific keywords (a proven method), and they will use IP addresses to geo-target your ads to people in specific areas. You can roughly determine the demographics of a particular website for your CPM (cost-per-impression) advertising based on content..e.g. the most frequent visitors of dating sites are single males between 30 and 45 years of age, and they are interested in … 🙂
Like many advertising services, Facebook offers you the option to pay on a CPC (cost-per-click) basis, which means exactly that. You only pay when someone clicks on the ad. You can also choose the CPM method, which can save you money and offer more overall exposure for your $. They launched the program in November, and have received both positive and negative criticisms.
The real (and almost only) benefits at this point are the advanced targeting which can narrow down a demographic well enough that you are almost ensured a great conversion rate from the advertising. Obviously, the more advanced your targeting, the less amount of impressions, but if your conversion rate is up.. who cares? There are also some creative marketing techniques to using Facebook as a market research tool, and tapping into the opinions of the Millennial Generation.
To get a feel for what kind of information Facebook has in relation to a particular demographic, login, go to your network page, and click network stats. Here you can view the stats for Raleigh/Durham (one of my networks)
On Monday, I’ll post the simple walkthrough for creating facebook ads.
It has been an exciting experience watching the reaction of Facebook users as they integrated the advertising into the site. I’m really curious to see how the recent decision to make SocialAds (another feature they had launched) opt-out.
A couple of great links for more reading on this topic:
Red Orbit – A 101 Course on Facebook, just in case you’re still trying to figure out “what the Facebook fuss is all about”.
Facebook Business – This page sums up quite well all of the solutions that facebook offers for businesses looking to gain exposure to their rapidly growing user base.
Read Write Web – This is an opposing view to Facebook advertising. Though I agree with Alex at RWW on a couple of points relating to Facebook needing to spruce the algorithm to better consider contextual placement, I tend to feel that he has grossly underestimated the potential, and failed to recognize the possibility that the advertisers he mentioned may have chosen a broad and even unrelated demographic for the sake of additional exposure.
We have a really interesting article coming up soon relating to Facebook, as we announce an application we have been developing for a client. If you need help with your marketing efforts, we would be glad to assist you.Tags: advertising, facebook, Marketing, millennial