Getting started with Facebook advertising

netwealth customer engagement series

Table of contents

• Introduction • The anatomy of Facebook advertising • Facebook’s audience targeting technology • 6 steps to Facebook advertising

Introduction

“Facebook has the reach of TV but with the targeting capabilities and low-cost entry price that only the internet can offer.” Andrew Braun General Manager Marketing, netwealth

You do not even need a Facebook page to advertise on Facebook. Given that Facebook is so popular amongst so many people, from so many different demographic types, advertising on it has the potential to reach tens of thousands of your target market. It has the reach of TV but with the targeting capabilities and low-cost entry price that only the internet can offer. The beauty with Facebook is that every cent you spend with Facebook can be measured, providing you with the ability to accurately calculate the return on advertising spend. In this guide, we provide you a step-by-step guide, with some real examples, as to how you can implement a Facebook advertising campaign.

The anatomy of Facebook advertising Facebook provides you the ability to display your advertising in a number of places in the Facebook ecosystem. The main places are: 1. A person’s news feed

– on their desktop PC 2. The right hand side column

– on a desktop version 3. A person’s news feed

– on their mobile phone

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Facebook’s audience targeting technology Facebook has very rich targeting capabilities and gives the advertiser a number of options to ensure their advert is displayed to the correct person. There are three main ways to target different people: 1. You can use the Facebook

profiling tool to segment Facebook’s audience by demographics, interests and behaviours.

2. You can create ‘custom audiences’ by uploading your own email database to Facebook and they will find matches.

3. You can create ‘look-alike audiences’ that have a similar profile to your uploaded email database.

6 STEPS TO FACEBOOK ADVERTISING

Measure and

review

Launch and refine

Set up Facebook

Create the advert

Specify campaign

details

Define campaign

goals

1. Define campaign goals that align with business objectives Every digital marketing campaign requires clear goals and business objectives. As part of this, you will need to decide on such things as: • What are you looking to promote? Is it

your brand, a new service feature, an offer, an event or maybe you have just won an award?

• Who would you like this message to be seen by - new prospects or existing clients? And what are profiling the characteristics of these people.

• How will I measure success? Is it the number of people that see the advert, visit your website, download your App, ‘Like’ your Facebook page or watch your video.

• What is success worth to me? Or how much am I willing to spend to achieve success.

POWER TIP#1: Facebook ad objectives and a brand campaign metrics Facebook provides you with the ability to select from a number of advertising objectives to help you achieve your overall objectives. For example, you can promote your Facebook page (Page Like) or promote or a specific URL (e.g. your blog or a landing page). That said, if your campaign objective is to increase brand recognition, there is no clear choice. We suggest you simply use the Clicks to Website option. For brand campaigns, your goal is to get your target audience to “see” your advert a specific number of times. In Facebook terminology, you are trying to “Reach” as many of your target audience with a set “Frequency”. So an important formula to note when looking at the performance of a brand campaign is: Which translates to: No. of

people x No. of times

they see the advert

= No. of times the advert was shown overall

Reach x Frequency = Impressions Frequency capping

You will want to monitor frequency. We try to keep frequency to a maximum of 10 per every 2 weeks.

2. Specify campaign target, message and creative Once your objectives are defined, you can get to the fun part – designing the advert. The elements of a typical Facebook advert are: 1. Your Facebook page name 2. Body text (90 characters max) 3. Image (1200 x 628 pixels) 4. A headline (25 characters max.) 5. News feed link (optional) 6. Call to action button (optional) 7. Destination URL on click through It is worth noting that the different Facebook ads use different elements.

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netwealth pre AFA 2014 conference campaign Campaign objectives: Brand awareness of netwealth to AFA conference attendees Facebook tools: Desktop news feed, right hand side advert; Custom audiences Click through URL: Custom-designed landing page promoting why netwealth is a good choice. See: https://www.pages05.net/netwealth/kickstart/whitepaper

Desktop news feed

Right hand side advert

POWER TIP#2: Facebook advertising and mobile Facebook can be accessed from mobile, tablets and desktops, using a mobile browser or via a downloaded App. The advertising you create renders differently in these environments and thus you need to take be cognisant of this when creating the advert. We have found that mobile advertising works well, but is the most expensive carrying a 70% price premium, according to research by Kenshoo Social in 2014.

3. Build your creative display advert Building the advert does not require someone with specialised skill in graphic design, but it certainly does help if you have a good eye for layout and design. Some of things to consider: • Do not use too much text in the image area.

Our preference is not to use any at all. Remember a picture tells a thousand words. In fact Facebook will not let you upload the image if it has more than 20% text in the image.

• Write and re-write (and then re-write again) the heading and body copy. You only can say a few words, so you need to make them count.

Some great tools to use to DIY design a Facebook advert: • www.istockphoto.com – royalty free images (per image

fee) • http://deathtothestockphoto.com/ – 10 photos to your

inbox every month (free) • www.canva.com – blank canvas with tools for creating

adverts (free) • www.bannersnack.com – like canva.com but also has

low-cost pre-made adverts

www.istockphoto.com

www.bannersnack.com

POWER TIP#3: Create multiple versions of your advert If you have multiple target audiences there is no reason that the messages and creative cannot be different. We actually suggest it. Further, there is no reason you cannot create multiple versions of the advert with slight variations to the message and the imagery, to determine which one works better. Facebook allows you to run as many variations as you like.

netwealth adviser support ‘brand’ campaign

Campaign objectives: To assist advisers “sell” netwealth, a series of adverts were created to improve our brand recognition amongst certain target groups, who we believed were more likely to visit a financial adviser. Facebook tools: Desktop news feed, right hand side advert; Facebook profiling

• Male • Aged 55+ • Interested in financial

products

• Male • Aged 30-40 • Single • Professional • Interested in financial

products

• Female • Aged 25-35 • Single • Professional • Interested in financial

products

Some inspiration A good place to find inspiration is by going to Facebook itself. If you visit the Facebook business success page, https://www.facebook.com/business/success, you will have access to numerous case studies which you can review. It also allows you to sort them by business size, campaign objective, industry, product and region.

https://www.facebook.com/business/success

4. Set-up Facebook and launch your campaign Now that you have defined the type of conversion you are looking for, identified your audience and your advert, it is time to upload it all to Facebook. This step also involves setting your budget. The steps are relatively straight forward, but to start, login to Facebook and click Create Ads in the top right corner drop down. We suggest reading the following Facebook guide before you start: https://www.facebook.com/help/633662000000451/

Facebook Create Ad tool

Create Ads

POWER TIP#4: Creating custom and “look-alike” audiences from your own email databases One of Facebook’s most exciting tools allows you to upload your own email database into Facebook where it will then match it against their huge database and find “matches”, i.e. actually identify an individual person. To create a custom audience, you will need to follow these steps: 1. Create an CSV spreadsheet with a list of email address in a single column with no headers. Facebook

recommends a minimum of 1000 records, but we have found enough “matches” with less addresses. 2. Go to Facebook Ads Manager. 3. Select Audiences from the left side, then click Custom Audiences from the Create Audience dropdown. 4. Choose to upload your Custom Audience from a data file. 5. Follow the required steps to upload your Custom Audience. To create a “look-alike” audience 1. Select Lookalike Audience from the Create Audience dropdown. 2. Select the Custom Audience in which you wish to base the look-alike from and follow the remaining steps

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Facebook Manage Ad tool - Audiences

5. Monitor and refine your Facebook campaign Fans, leads, visitors. Yeah! But don’t forgot your ROI. Many businesses spend money on Facebook and are excited by the fact that receive more leads, more page likes or more app downloads. But at what cost? If you start with a small budget and monitor your results every few days (or at least weekly) it easy to monitor and understand the ROI of your campaign. To do this simply login to Facebook and use the Manage Ad tool in Facebook. Here you will be able to analyse the quantum of leads, likes, downloads, etc. you are receiving and at what price.

For further information, visit: Step by step guide to Creating custom audiences, https://blog.kissmetrics.com/create-custom-audiences-facebook/

ROI for website click objective

No. of people who saw advert on their mobile

No. of times they saw it

Facebook Manage Ad tool - Reports

6. Post campaign review. What did we do well & how can we improve?

White Hat

Red Hat

Black Hat

Analogy Like a computer Like emotional barometer

Like gloom

Type of thinking Neutral & objective

Emotional Pessimistic

Focus Facts & figures Expression of feelings

Problems/ difficulties

Approach Questioning No justification Logical but negative assessment

Yellow Hat

Green Hat

Blue Hat

Analogy Like sunshine Like growth Like the sky

Type of thinking Optimistic Creative Detached overview

Focus Benefits New ideas Co-ordination/ control

Approach Constructive and positive assessment

Look for alternatives & innovations

Monitor, summarise, conclude

Given the time-poor nature of people and businesses today we often forget to take time to assess the overall campaign performance at its conclusion. This allows us to critically examine the campaign in its entirety. Were objectives met? Was the creative impactful? Did we run the campaign long enough? What was the ROI? We suggest that a post-campaign review be conducted: 1. with all people who were

involved in the campaign; 2. within a week of the campaign

concluded, so that participants remember the good, the bad and the ugly; and

3. with as much campaign data on-hand as a reference.

Adopted from Debono’s Six Thinking Hats, source: http://blog.readytomanage.com/decision-making-diagram/

Debono’s Six Thinking Hats Many people use Debono’s Six Thinking Hats as a tool for conducting post campaign meetings. All participants spend 10 minutes talking about the project with reference to each Hat. The benefit of the approach is that the project is critically analysed from different viewpoints.

Disclaimer

This information has been prepared and issued by Netwealth Investments Limited (netwealth), ABN 85 090 569 109, AFSL 230975. It contains factual information and general financial product advice only and has been prepared without taking into account the objectives, financial situation or needs of any individual. The information provided is not intended to be a substitute for professional financial product advice and you should determine its appropriateness having regard to you or your client’s particular circumstances. The relevant disclosure document should be obtained from netwealth and considered before deciding whether to acquire, dispose of, or to continue to hold, an investment in any netwealth product. While all care has been taken in the preparation of this document (using sources believed to be reliable and accurate), no person, including netwealth, or any other member of the netwealth group of companies, accepts responsibility for any loss suffered by any person arising from reliance on this information.