Facebook ads have become one of the best ways to advertise for businesses in recent years, as the platform is so widely used that an ad can reach a huge audience in a short amount of time. It can also be a great way to get your brand name out there so that more people can potentially convert into customers.
The bottom line of why people use Facebook ads is to make money, right? Well, it can be a little confusing how this happens if you’re not familiar with online business and marketing for them. We’re going to take a closer look at how you can make money from Facebook ads today, so keep reading to learn everything you need to know now.
What Are Facebook Ads?
One of the most popular methods of generating traffic for online businesses is the use of Facebook ads. Recent studies have shown that ads on Facebook are responsible for around a fifth of the total digital ad spending in the US. Add this to ads generated by Google and we get over half of the total market share for digital ad spending.
A key strength of Facebook ads is the wide variety of available advertisement options, which are constantly changing and adapting to include new and improved features. These types of ads are extremely versatile, allowing you to target exactly who you want to target. You can tailor your ads to fit demographics by location, interests, and preferences, and do this through videos, text, slideshows, carousels, or plain images. The widely used Facebook Stories feature has also been recently adapted for ads, allowing you to create your very own tailored ad stories to capture the attention of consumers. And these adds can be placed into newsfeeds, the Messenger app, or the audience network.
Remember that with all the options available to you, it can be hard to find which kind of Facebook ad works best for your business. This process can take a lot of trial and error, which is why it’s important to keep track of metrics to see what the best option is. You should also keep up to date with recent ad innovations developed for Facebook and best practices to maximize the traffic you can generate through such ads.
Why Should You Use Facebook Ads?
Some business owners may think all they need to make money is a good physical customer base or local promotions around where their business is located. However, the amount of people who visit your company’s Facebook page can have a direct correlation on how much money you can make. The more people who are visiting your profile and seeing your ads, looking at your products or services, and becoming familiar with your company as a whole, the more money they will end up spending on those services and products.
This process can be seen as a funnel of sorts, where potential customers are funneled into key stages of commitment to your business and its products or services. The top of the funnel is merely getting people to visit your website through the use of Facebook ads, which is often the easiest part. The middle stage is to build upon existing leads, which is basically making sure those who do visit your website are engaged in a meaningful way. The very bottom stage is to get them to choose your business out of all the competitors.
As you can probably imagine, if this process is followed all the way through by a potential customer, chances are they’ll be spending money on your business’s services and products. But the problem is starting the process of funneling, which can be a bit tricky. A good way to get the ball rolling is by using Facebook Ads to get your brand name out there on social media. The more people who see what your business is about and become familiar with it, the more conversion that will happen and the more you’ll sell.
Ways to Make Money with Facebook Ads
1 Domain Ads
A relatively simple way to make money with Facebook Ads is to use domain ads. This can also be a great way to get your brand out there. But what are they? Domain ads are advertisements that are computer-supported and will show up on the right side of your Facebook page.
With domain ads, you can include a displayed title, a URL, and a brief description of your website or business. This is a simple and cheap way to help funnel some traffic toward your business’s website.
2 Page Post Links
Page post links, better known as Newsfeed ads, are advertisements that come up on your newsfeed based on your particular profile and interests. These ads are a popular choice because they include a bit more space, allowing for a larger photo and business description. Many of these ads show a video instead of a photo too.
These can be an amazing way to generate traffic and make money by using Facebook ads, increasing audience engagement, and getting more attention for your profile. Also make sure to check the comments left by other users to boost your business’s engagement.
3 Page Likes
These ads show up all over a user’s Facebook profile and display a panel of a photo and short description of your business. There’s the option to immediately like your page linked directly on the ad, which can help get your page more likes and followers.
This type of Facebook ad is mobile compatible too, making it more accessible for users. With an immediate call to action button included, you’ll see a boost to your business’s likes in no time. The more likes your page has, the more users will see it, which will in turn get your brand or business more attention and generate more revenue.
4 Photo and Video Posts
Everyone loves a good picture or video, especially when they’re scrolling through their newsfeed. An eye-catching video or photo will make people stop scrolling to check out what it’s about.
Posting a good photo or video with a text description and link to your page or website can be a great way to get more engagement. Facebook has a reported 8 billion video views per day, so take advantage of that! With all those views, you’ll be able to get a lot more exposure for your brand or business.
5 Events & Offers
Event and Offer ads are a good way to let your brand’s audience know about special offers and promotions you may be holding for various products and services. You can highlight a sale and make sure everyone knows about it, which will help you make more money on said sale!
You can also use these to let people know about events that may be taking place at your business or on your website. Holding events can be a great way to find new customers and make more money on your business’s products and services.
Additionally, if a user clicks on your offer ad and redeems the offer, they’ll receive a follow up email detailing everything you want them to know about the offer and your business.
6 Multi-Product Carousels
These types of Facebook Ads are essentially a slideshow showing off various products all together. Similar to the page post link type of ad in that it will show up for users in their feeds.
The multi-product carousel ad is different, though, because with it, you can show off a wide selection of products instead of just a single photo. This can offer online shoppers the feeling of taking a look at an online shopping site, which can increase engagement and boost sales.
7 Lead Ads
Lead ads are among some of the most effective Facebook ads available for use right now. These ads will present an advertisement on a user’s newsfeed with a call to action for them to sign up for something. This could be a monthly subscription, or a limited time offer of some sort.
Better yet, instead of forcing a user to leave Facebook to sign up, this kind of ad will allow them to keep their place in the feed while still accessing your lead. This is great for the user, as they’ll be more likely to engage with this type of ad than others that may require them to leave Facebook.
There are many ways to make money with online advertisements nowadays, but Facebook Ads are one of the best. With a wide array of options to choose from, you can tailor your ad to fit the exact target demographic that you want to target while delivering the information you want the user to know.
Remember to follow the tips we’ve outlined in this article, and you’ll be a pro at Facebook ads in no time. You might even see a huge increase in the traffic and engagement of your online business!