In terms of the Guardian however – this is a move that the Times or Telegraph online would struggle to compete with, mainly because the GMC is managed by a charitable trust and thus not too tightly bound by the leash of priggish decisions that favour the shareholder and wound the audience. The Guardian’s stance in opening its content demonstrates conviction that the sum is greater than its parts and that the ring-fencing of content makes no sense, because the brand is greater than the content.

I accept that whatever comes out of this new API is unclear – but there is a distinct kind of see-what-happens mentality to the open platform, where the experimental nature that this allows is likely to give developers an area to experiment and create within. That said – roadmaps only really work for shareholders, so the blue-sky option is probably the best way to go because developers are more likely to be hindered than helped by any charted course.

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Step 1 - What are you promoting? – Login to Facebook, then go to the Create Ad page and enter the url you want your traffic to go to. (For our clients, we customize a landing page for each ad in an effort to better convert the traffic).

Step 2 – Select your demographic – I love the functionality here. As you are selecting your audience, and using the auto-suggest for keywords, watch the top of the page. You will see it is construction a paragraph that explains your target audience, and displays the approximate market size for that demographic. I do wish there was a feature so you could choose all BUT high school students.

Step 3 - Create your Ad-Copy. Here are Facebook’s guidelines for ad copy. Keep in mind what you are trying to accomplish. If you just write something crazy in an effort to get traffic, your conversion rates will be low. If you are specific, and enticing, visitors to your site will know why they are there, and will be more like to join your site, or purchase your products. They will even let you upload a photo to attach to the ad. Your logo, or an image of the product works best here.. but mind the size, you don’t want a distorted image.

You can also specify social actions that relate to your ad here. If you are a member of a group, or have an application, Facebook will enhance your ad with associations to the actions of those groups or apps.

Step 4 - How Much Do you Want to Spend – The first choice you have to make is whether you want to pay based on the number of views (cost-per-impression) or on the number of actual clicks your ad receives. The cost per impression (CPM) is a good idea if you are just trying to spread awareness, as it carries an overall lesser cost. Keep in mind though, your ad can receive a lot of impressions on a site like Facebook, and just because it is loading on the page, doesn’t mean that eager eyes waiting to see your ad.

A good portion of Facebook users are going to be blind to advertising. This is why I generally recommend taking the cost-per-click (CPC) route, as you truly “get what you pay for”. Facebook will recomend a CPC price based on what others are suggesting, and as a general rule, put the most you are willing to pay for a click to ensure you get the best positioning.

You have a final option to specify if you want the ad to run continuously starting upon approval (Facebook does check the ads before they go live) or if you would rather the ad run only during a specified time. This is in case you only want to test out the service for weekdays, weekends, holidays, or special events.

Step 5 - Review and Pay – Alright… now just review the ad to make sure everything looks in order, enter your credit card information (if it isn’t already stored), and click Place Order. Facebook will review your ad, and unless you did something bad, like advertise for porn or ignore their guidlines, you’re ad will soon be sending traffic to your site.

You might also be interested in Millennial Marketing and Facebook Ads

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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.

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