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Tag: Facebook Marketing

  • How to Create a Facebook Ad Strategy That Actually Works

    How to Create a Facebook Ad Strategy That Actually Works

    Opinions expressed by Entrepreneur contributors are their own.

    Every business owner, entrepreneur and social influencer understands the importance of branding and marketing for profitability. If you don’t have eyeballs on your business, you aren’t getting traffic and converting consumers into clients.

    Still, it isn’t only about getting people to look at your ads or website; you must also find the right audience and connect with the correct message on the most appropriate platform. While traditional and modern media provide various outlets for marketing efforts, few compare to the power and prevalence of the humble Facebook Ad — when done correctly.

    Related: Facebook Ads: The Complete, Always-Updated Guide

    Facebook: the social empire

    Facebook, despite frequent controversies, is the most popular social media platform. As one of the few founding platforms to survive countless reiterations, profitability challenges, and privacy battles, Facebook developed from a typical friend-sharing site to a marketing powerhouse.

    The platform delivers metrics, capabilities and audience numbers far exceeding any other. To capitalize on the advantages of the social media juggernaut, you must learn the art of creating appealing Facebook ads and campaigns.

    It is not enough to produce an enticing image and bold messaging. To stand out from the crowd — the competition in the Facebook arena is undeniable — and leverage the social media empire, you must create compelling media that speaks to your target consumer.

    Related: Improve the Power of Your Facebook Ads With These Small Tweaks

    Ad leakage: understanding and correcting marketing loss

    Every ad campaign costs a percentage of profits. The costs should account for an acceptable loss. Unfortunately, because many business owners and entrepreneurs are unfamiliar with optimization strategies, Facebook Ads can quickly envelop profits and marketing budgets.

    Correcting marketing losses is about identifying a campaign’s leaks or weak points. The only way to identify ineffective ads is to compare advertisements. Still, it is only possible to identify and correct potential errors if you know the right design, implementation, and measurement strategies.

    Social media strategy: building a better foundation for advertising success

    As easy as it is to create social media ads, rushing the design process is a mistake. By approaching Facebook ads strategically, you can develop a measurable and changeable foundation, allowing you to weigh the cause and effect of various decisions.

    – The importance of research

    Many professionals underestimate the significance of market research. They assume, as the creators of a product or service, they automatically understand the mindset of their target consumer. Realistically, consumers buy products or invest in services for many reasons. While a professional’s motivation for creating the business might be valid, it might not be the most profitable.

    Before developing ads, consider your audience, motivations, and needs. Do not allow bias to motivate your marketing decisions. Hire a research team to survey the market, or invest in market research on your own.

    – The significance of building blocks

    When talking to marketing experts, you will hear them talk about five aspects of ad design: image, headline, text, call to action, and value proposition. While important, the fundamentals of ad design are only one element of the building blocks of marketing. The other blocks include target audience, testing, and optimization.

    Even a tiny Facebook advertisement requires planning. You must know which ad type is best for your target demographic and where the ad should appear for the most success. With no clear foundation, the ads will probably fail.

    – The value of clear objectives

    One critical but oft-forgotten element of advertisement prep is creating and identifying clear and measurable objectives. Every advertisement must have a purpose. For example, do you need a Facebook campaign to increase brand awareness or improve sales of a specific product or service?

    Knowing what you expect from an ad campaign will help you identify its performance. Clear expectations will also limit the risk of spending more than you want for a particular campaign effort.

    Budget and costs: creating enticements and measuring success

    The success of every Facebook or marketing effort comes down to original budgets and costs. After the campaign, you want to make more money than you spent, hopefully, a lot more. Your profits will stem from your ability to create ads with appealing offers, measurable performance, and a genuine understanding of a customer’s lifetime value.

    – Making appealing offers

    An effective ad makes an appealing offer without selling. The best-performing Facebook ad offers are those that appeal to people’s psyches. You need to use the power of influence and navigate the sales process with a lighter approach. For example, if your consumer is charitable, consider donating a portion of every purchase to a specific and related charity and specifying that in the ad.

    Related: How to Increase Customer Lifetime Value And Boost Profits

    – Letting metrics guide decisions

    While intuition and willpower might have motivated your entrepreneurial ambitions, they should not guide marketing decisions. Facebook offers ad metrics for a reason; use them, but focus on hard data, not vanity. Sales, not clicks or social engagement, are the objective measure of ad success.

    Also, consider customer lifetime value when weighing metrics. Sure, if it costs you $80 to convert a customer for an initial $50 sale, that seems like a significant loss. However, if the customer represents an LTV of $300, the initial loss is worth it.

    Facebook represents a significant marketing opportunity if you know how to construct, implement, and measure ad success. As a business owner, entrepreneur, or social influencer, understanding the tools at your fingertips is the key to future growth and profitability.

    Adam Petrilli

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  • What Is Marketing Compliance and Why Should You Care?

    What Is Marketing Compliance and Why Should You Care?

    Opinions expressed by Entrepreneur contributors are their own.

    Marketing compliance is a term used to describe the actions and practices of a company in order to ensure that it is compliant with marketing regulations. These regulations can vary depending on the industry, geography and other factors. Generally speaking, marketing compliance requires a company to exercise due diligence when creating and executing its marketing campaigns. This includes ensuring that all marketing materials are accurate and conform to local laws and regulations.

    Marketing compliance is an important issue for companies of all sizes, as violating these regulations can lead to significant fines and other penalties. In this article, we will explore the basics of marketing compliance and discuss some key considerations businesses should assess when creating their marketing plans.

    Related: An Entrepreneur’s Guide to Compliance

    What is marketing compliance?

    Marketing compliance is the process of making sure that your marketing, advertising and sales content abides by all rules and regulations designed to safeguard consumers and their information. One modern example of such regulation is the European Union’s General Data Protection Regulation, or GDPR. This regulation requires companies to obtain explicit consent from customers before using their data for marketing purposes and provides consumers with numerous rights related to their personal data.

    The goal of regulatory compliance is to protect consumers from deceptive and unfair practices while promoting fair competition within markets. Companies should always stay up-to-date with the latest regulations, such as GDPR and the California Consumer Privacy Act (CCPA), in order to ensure their marketing activities are compliant.

    Why should I be compliant?

    Marketing compliance is important for any business, regardless of size. It helps ensure that your company is following the rules and regulations set forth by regulators to protect consumers from deceptive or manipulative practices.

    Additionally, marketing compliance helps promote fair competition within markets, allowing companies of all sizes to compete. Furthermore, it can help keep your company out of legal trouble and protect your reputation.

    Finally, staying compliant can be beneficial for your customers because it ensures that they are getting accurate information about the products or services you offer.

    Different types of compliance

    There are several different types of marketing compliance laws, each with its own set of regulations. Below, I’ve highlighted a few of the most common forms of compliance:

    FTC:

    The Federal Trade Commission is a regulatory agency responsible for preventing unfair, deceptive or anticompetitive business practices within the United States. The FTC takes legal action against businesses engaged in such activity; collaborates with other government agencies both domestically and overseas; conducts policy research through hearings, workshops and conferences; and produces educational materials to share best practices with consumers and businesses alike.

    FDA:

    The FDA is an agency that regulates food and drugs in the U.S. It is responsible for ensuring that all food products, dietary supplements and medications are safe, effective and accurately labeled before being sold to consumers. The FDA also regulates the advertising of food and drug products to ensure that it follows its guidelines and does not mislead consumers. Following FDA guidelines is essential for all companies. If a company promotes off-label use, it could face legal penalties from different government entities. Additionally, many businesses still battle to create internal policies and procedures surrounding allowable off-label communications.

    FCC:

    The Federal Communications Commission, or FCC, is responsible for regulating all forms of communication in the U.S., including television, radio and telephone services, as well as internet access. The FCC works to protect consumers from fraud and other deceptive marketing practices by enforcing its rules regarding truth-in-advertising and consumer protection.

    ADA compliance:

    The Americans with Disabilities Act, or ADA, is a federal civil rights law that prohibits discrimination against individuals with disabilities. Companies must comply with the ADA when creating their marketing content by making sure it’s accessible to all users. This includes ensuring that images are descriptive and text can be read using assistive technologies such as screen readers.

    HIPAA:

    HIPAA marketing compliance means doing two key things at once. The first is protecting your patients’ protected health information, or PHI, whether it’s stored on paper or electronically. The second is understanding and carrying out your responsibilities under HIPAA. By doing so, you can be sure that your patients’ PHI is kept private and secure.

    In addition to HIPAA compliance, some states have additional laws that require companies to take extra measures when processing patient information. For example, California has a law known as the California Confidentiality of Medical Information Act (CMIA), which requires businesses to take additional steps to protect patient data.

    Related: Protect Your Business From Regulatory Pitfalls, With ‘Practical Compliance’

    Risks of being non-compliant

    The risks of being non-compliant with marketing regulations are high, and businesses stand to lose a lot if they fail to comply. Below, I have outlined a few marketing compliance risks businesses could face:

    Fines and penalties

    Strict adherence to laws and regulations is essential, as the repercussions of non-compliance can be detrimental. These range from financial penalties imposed by government entities. The following are some of the legal fines that have been enforced in recent years:

    • Fair Labor Standards Act: This act makes it mandatory for an employer to pay the federal minimum wage and overtime compensation when certain criteria are met. Moreover, any violations of this law may result in back pay and penalties (which can reach up to $10,000).

    • GDPR: The GDPR imposes administrative fines of up to €20 million or 4% of the company’s global annual revenue, whichever is higher.

    Loss of trust and brand reputation

    When customers discover that companies are not compliant with marketing regulations, they can lose trust in the brand and move their business elsewhere. This is especially true if businesses fail to comply with GDPR, as customers may hesitate to share their data with companies they don’t fully trust.

    Downtime

    Non-compliance can result in long periods of downtime. If companies fail to maintain compliance, they may be forced to take down their sites or services while they work to fix the issue. This could lead to significant losses in terms of revenue and customer loyalty.

    How to avoid marketing compliance violations

    Here is a brief marketing compliance checklist you can use to ensure you stay compliant:

    Terms of service

    It is critical for companies to be transparent about their terms and conditions in order to maintain customer satisfaction. In particular, SaaS businesses need to be clear about how their services work and what will happen with important factors.

    In the European Union, businesses cannot legally enforce unfair contract terms against consumers. When companies don’t fulfill their consumer rights obligations, they could lose customers and profit. For these reasons, it’s vital that marketing departments work with other areas of their business to make sure that their terms of service are always clear, up-to-date and fair.

    Product specifications and prices

    Businesses face a number of guidelines, both domestically and internationally, that they must follow when sharing product specifications in marketing materials. In the United States, for example, the Federal Trade Commission enforces laws related to truth-in-advertising, which demand businesses share accurate information that is backed up by evidence.

    There are also strict rules and regulations that businesses must follow when it comes to advertising on digital platforms, such as Amazon, Facebook and Google.

    Companies can face hefty fines or other penalties if these rules are not followed. This is where a strong marketing compliance strategy comes in handy.

    Data management

    Marketing compliance is also concerned with how businesses use and manage customer data. In the European Union, GDPR places a responsibility on companies to protect their customers’ personal data. This requires companies to store and securely process customer data and not share it with unauthorized third parties. Companies must also ensure that they are taking steps to comply with the “right to be forgotten” and other GDPR rights granted to customers.

    Marketing channels to monitor for violation

    Monitoring for marketing compliance violations is a crucial part of any successful risk management program.

    Businesses should keep an eye on platforms such as Amazon, Google Ads and Facebook Ads since these popular channels can be used to quickly reach large audiences. Aside from these, email marketing compliance should also be monitored closely, as companies must adhere to the CAN-SPAM Act when sending out promotional emails. Companies should also monitor their own website or app for compliance issues.

    This includes checking how customer data is collected and stored, as well as verifying that all terms and conditions are up to date. Companies should also review marketing material for any potential legal issues. Finally, businesses must ensure that they are regularly monitoring industry-specific regulations and laws to ensure they stay compliant. This involves staying on top of changes in legislation, such as GDPR and the California Consumer Privacy Act.

    Related: 3 Key Legal Issues Online Marketers Need to Know About

    Marketing and advertising compliance is a complex issue, with many laws and regulations that companies must adhere to in order to protect their customers’ data and ensure fair competition within markets. Companies should consider creating a comprehensive marketing compliance strategy that takes into account all applicable laws and regulations and ensure that their marketing practices are compliant with them.

    If doing things yourself would be too much of a burden, consider hiring compliance professionals or lawyers who are knowledgeable in this area. You could also take advantage of various marketing compliance software in the market. This can ensure that your business not only stays compliant but is also able to grow and expand without fear of legal repercussions.

    Alex Quin

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  • 12 Questions About Facebook That Every Entrepreneur Needs To Know

    12 Questions About Facebook That Every Entrepreneur Needs To Know

    Opinions expressed by Entrepreneur contributors are their own.

    Facebook Ads can be a great way to drive traffic to your website and increase sales conversions, but they can also be expensive and difficult to manage if you’re unfamiliar with the platform. By understanding how Facebook Ads work and what options are available to you, you can create a cost-effective ad campaign that meets your business’s needs.

    In this article, discover the top 12 questions and answers entrepreneurs and small business owners need to know about running Facebook ads for their companies.

    As an online entrepreneur and marketing coach who teaches business owners how to DIY their digital branding and marketing (while saving time, money and energy), Facebook advertising is one of my favorite subjects to consult on. It’s been one of the most cost-effective ways for my companies to reach a large audience of targeted customers while helping my businesses grow brand awareness faster and easier.

    That said, here are 12 common questions I hear from entrepreneurs.

    Related: The Complete Guide to Getting Started With Facebook Ads

    How do I promote my small business on Facebook?

    An effective way to promote your small business on Facebook is through targeted ad campaigns. With targeted campaigns, you can reach the right people with your message and increase the chances of garnering attention for your business. To start, take advantage of Facebook’s Audience Insights feature to gain insight into the demographics of your ideal customers.

    Related: The Complete Guide to Facebook Advertising

    Are Facebook Ads worth it in 2023?

    Facebook Ads can be a great way to promote your business over the next year. While there are all types of online advertising tools (such as Google ads, YouTube ads and more), the bottom line is that Facebook advertising is still one of the most cost-effective advertising methods on the internet.

    Unlike other platforms or systems, Facebook advertising allows you to create specific audiences that help narrow down who you are trying to reach. This information will help you create a targeted ad campaign that is more likely to be successful.

    How much does a Facebook ad cost?

    The cost of the ads varies, depending on how many people you want to see the ad, the period you plan to run it for and even other factors like the location and audience type you want to reach. In addition, since it’s a social network where your ads generate organic engagement (such as shares, likes and comments), it enables your content to go viral faster, expanding your ad’s reach without spending more budget toward impressions. You can get started running ads for a small amount, like just $5 per day, which is a great way to test creative content.

    How do I start a Facebook ad?

    A small business owner can start a Facebook ad campaign on the platform by first creating a business page and ad account. Start by defining the campaign objectives (such as brand awareness, traffic, etc.) and select an audience most likely to convert. After that, create an engaging ad with high-quality visuals and compelling copy. Make sure to include a call to action that encourages viewers to take the desired action.

    Related: Your 7-Step Guide to Getting Started With Facebook Ads

    How do Facebook Ads work?

    Facebook Ads target users based on their behaviors, interests and other demographic information. When a user clicks on an ad or interacts with it in any way (such as liking, commenting or sharing), they are adding to the ad’s reach — and driving more conversions. Once an ad is created, it will be displayed in various sections on Facebook, Instagram and affiliated platforms.

    How do Google Ads compare to Facebook Ads?

    Google and Facebook ads are two different ways to advertise your business online.

    With Google ads, you can target people actively searching on Google for keywords related to your business. By contrast, Facebook ads let you target people based on their interests and other demographic information, so visual ads are served to them while they’re spending time on social media.

    The benefit of Facebook (in comparison to Google) is that it enables you to be more selective about the type of person you are trying to reach with your ad. Whereas, with Google ads, it’s all based on the keywords people are searching for, so you might end up paying for clicks from people who aren’t your ideal customer.

    Do Facebook Ads work for small businesses?

    As an entrepreneur starting a business, you must be mindful of how you spend your financial resources. That’s why testing ads online can be a cost-effective way to see how people engage with your content while driving brand awareness for your startup.

    Tap into the power of targeted Facebook Ads to reach your ideal customers faster and easier. You can tailor your ads with precise segmentation to get the right people with relevant messages, helping them make more impactful connections and increase engagement rates! By paying attention to detail when setting up an ad campaign on Facebook, small businesses can maximize their efforts for maximum success.

    How long should I run a Facebook ad?

    You should run a Facebook ad for as long as it is effective. That means you should track how many people click on it, like it or share it. If it is ineffective, you should stop running the ad and try something else.

    In the social media marketing course I created for Inspiring Brands Academy, within a few short hours, I teach my students (who are small business owners and entrepreneurs) step-by-step strategies to create successful ads that drive results. Analyzing the data on which type of creative content is performing best helps you decide how long to run each ad.

    How do I find my target audience through Facebook ads?

    Using the platform’s powerful targeting capabilities, you can find your target audience through Facebook Ads. With the ability to target users based on their behaviors, interests, demographics, location, and more, small business owners can create highly tailored campaigns that reach the right people (which means you’ll spend less advertising budget to reach the customers who’d naturally be interested in your product or service). This allows for more effective engagement and conversion rates since the audience your ad is being delivered to is already interested in what you are offering.

    For example, if you run a beauty ecommerce business that sells anti-aging skincare, then most likely you’d want to target people over age 40, whose interests include beauty and skincare, and who follow pages like Allure and NewBeauty magazine, retailers (such as Sephora and Ulta) and popular skincare brands.

    How do I measure the success of my Facebook Ads?

    The success of your Facebook Ads depends on a variety of factors, including the quality of the creative content and how well they target your desired audience. However, the best way to measure the success of an ad campaign is by tracking its performance with analytics. Through Facebook’s Ads Manager, you can measure metrics such as impressions, clicks, conversions and more to determine which ads perform best and generate the most ROI.

    What is a good budget for running Facebook Ads?

    There is no one-size-fits-all answer to this question since it largely depends on the size of your business and the goals you want to achieve with your ad campaigns.

    Generally speaking, I recommend that entrepreneurs set aside a budget for testing their ads before allocating more money to successful campaigns generating results. But the good news is that you can start by testing ad content for just $5 per day over seven days to see results. I recommend trying various ad types (video, photos, different copy and CTAs) to see which performs best.

    Related: How to Increase Your Marketing Return On Investment Through Customization and Multiple Personas

    What is the average return on ad spend for a Facebook campaign?

    The average return on ad spend (ROAS) for a Facebook campaign can vary depending on your target audience and how well your ads perform. Generally, you should aim to get a ROAS of at least 1-5x — meaning that you’re earning back the amount you spent to run the campaigns.

    To calculate your ROAS, divide your total profit by the amount you spent on running the ad. For example, if your total profit is $100 and you spent $50 to run the ad, divide 100/50 = 2x ROAS. The higher the ROAS, the better it is for your business.

    As you can see, small business owners and entrepreneurs can benefit from running Facebook ad campaigns because they allow for highly targeted advertising that reaches people who are already interested in what you have to offer. Additionally, through analytics, businesses can measure the success of their ad campaigns and make necessary adjustments to ensure they are getting the most out of their investment. With a good budget and an understanding of targeting your audience, you can see a high return on investment from Facebook ad campaigns.

    Christina-Lauren Pollack

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