When starting to grow your business or brand's social media presence, it can be hard to determine how much to spend on advertising to strengthen your reach without wasting precious profit. It seems as though these days the question of how much to spend has various answers depending on who you ask. Some who answer have very definite numbers on how much to spend and preach their statistics as Facebook advertisement gospel. The truth is, however, there is no 'one size fits all' answer to how much you should spend and an understanding of your specific strategy and goals are an essential first step in determining how to wisely purchase Facebook ads. Below, we'll take a look at a few basic ideas on what you should spend on advertising on Facebook to get the biggest bang for your buck.
The Dollar A Day Strategy
The minimum amount you spend on advertising with Facebook, a dollar a day, isn't a bad way to start your campaign if you are a small business. This method allows you to focus on experimentation with your ads, find out who's engaging, and who you should be marketing too without spending your whole budget on one ad. This low cost form of advertisement is also a great way for potential clients and customers to see your content and keep you active on social media while retaining profit. To boil this method down to numbers, spending a dollar a day will get your brand or business in front of 4,000 users. If your competition isn't doing this as well, you've already achieved far more awareness.
The Dollar for Every One Hundred Visitors Strategy
This strategy is one that is often repeated throughout the world of Facebook marketing 'experts'. The numbers change. Sometimes its five dollars for every fifty visitors to your website, others it's the standard dollar for every one hundred. Though it may seem subjective at first, there is logic to this type of strategy. Facebook, like many social media platforms, is a re-marketing engine. What this means is that Facebook directly targets ads to those who have shown an interest in the subject matter. So, depending on how well your other marketing tactics, such as Adword and SEO and the like, are doing, Facebook will serve to amplify that. Spending so much for every so many visitors to your web page allows Facebook to re-market your content to those who have been determined to be interested, meaning you are much more likely to draw a profit.
There is no Cookie Cutter Method!
As I mentioned above, the simple fact is, to enhance your Facebook advertising effectively there is no straightforward, one and done, strategy. Though this may be frustrating, it is important to remember just how detrimental to your business advertising with Facebook can be. Even taking the dollar a day strategy into consideration, you are putting your content in front of far more people than you ever could with other media, and if done correctly those who are seeing your ads are already vying for your products. By determining the best way for your business to advertise with Facebook through market study and strategy with a professional you can greatly enhance your profit without the stress of doing it all on your own.
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