Facebook Ads changes every day. We can't deny how powerful the advertising platform is, and there are tons of recommendations out there that might steer you in the right direction for your next campaign. Others are just distractions and are not worth implementing. Here are some of the most common Facebook Ads assumptions, but don't worry because we'll give you the truth.
Myth #1: Facebook Ads do not work for B2B brands.
Truth: Facebook is a powerful platform for B2B advertising.
People might run into LinkedIn when it comes to advertising to businesses because it is a known network for fostering professional relationships. Facebook has always been seen as a strictly direct-to-consumer (DTC) advertising platform. What people don’t know is that Facebook is designed to be a business networking application, but it wasn’t a top consideration for B2B lead generation. Experts say that people are always open to business-related content, even if they’re just mindlessly scrolling through their Facebook and Instagram feeds after a long day at the office. B2Bs should not hesitate to give Facebook a try because you might be surprised by the results.
Myth # 2: You need a lot of money to get started.
Truth: You only need at least $1 a day to compete with big brands.
Other advertising channels might have a high budget to compete against, but you don’t need to do that with Facebook Ads. Brands can reach Facebook users for as little as $1 a day. While this amount will limit the ad inventory you have access to, you will be on an even playing field with everyone else. You can invest a good amount of money if you have the budget because it will give you enough conversions and learnings to optimize your campaigns, but it’s not a requirement. A small daily budget will start bringing you leads and customers. A little can go a long way.
Myth # 3: You should create small, targeted audiences.
Truth: Build your target audience but make sure to leave some wiggle room.
Creating exclusions during the audience creation process makes sense of the time. However, when your targeting gets too narrow, you can miss out on opportunities to reach audiences who would convert on your ad. That’s why you should not restrict Facebook too much by layering dozens of filters such as age, device, placement, and gender. Give Facebook the freedom to go find those people as you’ll end up with more scale and at a cheaper cost. You need to let the algorithm do its job. Define the key characteristics of your target audience and leave some room for the ad to reach those you may not have considered.
Myth # 4: You should retarget all your website visitors.
Truth: Not everyone should be retargeted.
The Facebook pixel allows you to track user behavior on your website and retarget those same users on Facebook to guide them. However, not every person who visits your website should be retargeted on Facebook Ads. You should still segment which website visitors to focus on, and not focus on everyone who visits your site.
Focus on visitors who exhibit high-intent behaviors and will be more likely to convert. These are visitors who add products to their shopping carts, visits the pricing page, or reads testimonials. By being selective, it will not only help you manage your budget better, but it can also help you yield better results. Ultimately, it is all about finding what works for your brand.