How To Target Your Audience And How To Build Your Email List
One of the biggest advantages of Facebook Ads is the ability to target your ads specifically at particular audiences. This means that you can ensure only people who are likely to want to buy from you see your ads and that you aren’t wasting any of yuor budget on clicks that don’t end up converting.
Facebook, like many other social networks and advertising platforms, allows you to target your ads based on all the usual domographics such as age and sex. Where Facebook goes above and beyond though, is in providing you eith advanced tools to target people by a range of different factors.
Consider some of these impressive options and build them into your own campaign….
Using Facebook Ads is a great way to sell a product and if you set this up correctly, then you can ensure that you will pay less for each click than you earn from each visitor on average. That means that your advertising campaign will make you direct ROI and you can keep investing more into your daily budget and getting more out of it in kind.
But that’s only one way to use Facebook Ads, which actually have a plethora of different applications. Ahother example is to use them to build a mailing list and this can work incredibly well when it comes to selling big ticket items.
More Specific Targeting
Firstly, Facebook Ads allows you to target your audience on a lot more metrics than just those main two. You can also target based on location for instance, by selecting a location on a map and then deciding how far outside that loction you want your marketing to spread.
Better yet, you also target your audience based on their hobbies and interests – so that you could sell a weights bench only to fitness fanatics for instance. You can also look at your audience based on things like their likelihood of owning property, thereby ascertaining whether or not they’re likely to have the space for your weights bench.
Being able to choose these specifics stats and show ads accordingly would be impressive enough on its own. however, Facebook goes aboce and beyond by allowing you to filter your audience by looking for specific combinations of those elements and even by excluding people om certain groups!
Like Google AdWords, Facebook Ads also offers the handly ability to remarket. This means that you showing people ads after they have already been to your website and shown an interest in what you’re selling. If someone lingers on the checkout button and changes their mind for instance, you can later shown them you advert at a time when they may be filling a little more impulsive.
Even more handy is the ability to create your own custom audience. You can do this by using emails collected for a mailing list for example and Facebook will then attempt to assign each for those emails to a relevant Facbook contact. They can even find you more people to advertise to who fall into similar categoris based on you list.
Work Out Your CLV
The first thing to do, is to work out your CLV. This is your Customer Lifetime Value and it basically tells you how much each lead that engages with your brand is going to be worth to you. The idea is that someone who subscribes to your mailing list is lekely to be a fan and therefore is likely to buy a product from you. Moreover, they’re likely to buy multiple products from you. If you have a subscriber who buys 10 products from you over the course of a year, then they’re worth a lot more than they might appear on papre.
In order to calculate how much your subscribers are worth to you then, you need to work out what the average amount each subscriber has earned you so far is. Add up the total and divide it by the number of subsrivers. This is your CLV.
Now comes the next acronym: CPA or Cost Per Action. This basically means that you’re paying for a particular action to be carried out, other than a click. You can choose from a variety of actions but the one we’re interested in of course is people subscribing to your mailing list. Using CPA in this way, you now only pay for subscribers, rather than paying for people who click and then may or may not subscribe to your list.
If you have previously calculated your CLV then this becomes a very simple formula for profiting from your mailing list. All you need to do is ensure you pay less for each subscriber than their CLV and that way, you’ll keep increasing your profits over time without any drawbacks!
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