All You Need to Know About Facebook Asset Formats

Know the difference between groups, pages, profiles & events

Have you been wondering which format is the best to use for promoting your business news on Facebook? This article will briefly explain the difference between the main Facebook formats and what to use each of them for. You will find out how to create them, as well as, handy info to stay relevant and entertaining for your customers.

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Profiles

Profiles -  A profile is a place on Facebook where you can share information about yourself, such as your hobbies, pictures, videos, current city, hometown and daily events. It is principally for personal usage. 

 

Once you have a profile, you can create any other format by picking the suitable one from the dropdown menu, as shown in the screenshot. But which of them is the best for you?

Facebook Interface
Facebook Interface

Remember: Despite the fact that Facebook prefers communication between users and therefore, it oppresses business pages, groups and events, you should not use personal pages to promote your business. That might be confusing for your customers and it is not professional.

Pages

You need a profile to create a Page. Pages allow individuals or groups of them, entrepreneurs, public figures, businesses, brands or NGO's to connect with their friends, fans and customers. When someone likes or follows a Page on Facebook, they can then see updates from that Page in their News Feed. Bear in mind what kind of page you manage. A page that is not related to any business e.g. community page or a page that aggregates all family members can be filled up with everyday life pictures e.g. your honeymoon sunset collection, kids with chocolate (or glue) all over their body or some organizational information about the upcoming costume party in your neighborhood. The business page should always be about your business. You can post any promotion, funny story, new opening hours, or whatever you find relevant there.

That basically means the page is a profile of the company, and it needs to remain relevant. Your posts should be entertaining, educating, engaging and last, but not least, valuable.

Business Page Categories
Business Page Categories


Groups

Same as for pages - You must have a profile to create a group or help manage one and you can link the group to your business page. Why would you run a group? Because people love to chat about what they find interesting with other people. In Groups, people communicate about shared interests with other interested people. A group can be created for anything — for marketing tips for small business owners or real estate agents (those are groups I personally manage :), for husky puppy lovers, for people from a specific neighborhood (so they can all share their impressions about the new French bistro on the corner)  — and customize the group's privacy settings depending on who you want to be able to join and see the group. The people will see the updates after joining the group in their News Feed. Groups can be public or closed - potential users need to send a request to join. Groups can also be private. You can close it with a feature that hides the group in searches.

How to Create a Facebook Group


Events

Any person with a profile can create an event, but only a page can create recurring events. To share your business related event, you should add your Facebook event under your business Facebook page. Your event is strongly recommended to be visible and talked about on your Facebook page, because your audience is right THERE. From the page, you can help encourage the interested people to visit the event page. The specific information will be seen in the event itself, so only those who are interested will see it and your business page remains relevant for others. Remember, Facebook events have an event venue and an event date, and after that event date expires, the Facebook event expires, as well. 

 

Having said this, it is not efficient to invest too much time into building up your Facebook event. What you want to do is grow an audience under your Facebook page because you can engage with them at any time.

Create a Facebook Event
How to Create a Facebook Event

Remember: Never use a personal profile for business. Don’t have a business page yet? Follow Facebook’s easy guide to setting up a business page. Having a business page requires it to be linked to a personal Facebook profile. Don't worry - the information, posts, comments, photos, updates, etc. will not appear on your business page and vice versa. No one will be able to detect what personal profile your Facebook business page is assigned to.

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How Much Does Facebook Advertising Cost?

Well, that’s a tricky question – there are so many variables at play. Depending on your situation, the cost of your Facebook ads could be as much as $10 per click, or as little as 40 cents.

The most important factor is efficiency and performance. Your ads might be super cheap, but if they do not bring any results, it's a waste of money. Define the purpose (the goal) of the ad and what is your cost limit to label the ad as efficient. Many businesses measure success by the number of sold products, leads generated, or potential customers engaged.

There is no rule or benchmark for this, each business is different with different needs and circumstances. Someone might be satisfied with a new lead for $45 and another might not go over $10. One person might consider a $3 cost per click as successful and another would not want to pay more than $2. Calculate the revenue you can get from the lead and think about how much you want to spend per action, this way you can always check whether your ads perform well or not. 

Before you spend a lot of money, try to set up your daily budget for $5 a day. (We will talk about how to set your budget later). Monitor your results. If the ad performance meets your ideas and you have money to raise the daily budget, do it. And do it again, if the ad is bringing you results.

Remember: If your ad is comical, visually appealing, engaging, or all of these combined, people will like, comment or share it more often than they would with some boring copy with a blurry image. If you really want the most from your paid ads, they have to be great to make the people share them and so the ads will be also spread organically. Deciding how much to spend is a good place to start, but always make sure each dollar goes as far as it possibly can. The key is the visual, the text, as well as targeting. Regarding your content creation, read my article about buyer personas, because you should tailor-make it for your ideal customers and you can also find more helpful info in this article about tools for creating visual content.

So, how can you get an idea of how much Facebook advertising costs before diving in?


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How Digital Advertising and Ad Pricing Works

The world around us has become digital. More than half of the people living on Earth are connected to the internet. That's almost 4.5 billion people. The interesting thing is that this all happened in only 28 years. Yes, 1991 was the year, when the World Wide Web, today's internet, was publicly launched.

Digital Around The World (Hootsuite)

But the biggest internet usage increase came with the arrival of social media platforms. 80% of internet users (January 2019, Hootsuite) are also active social media users. The leading platform, with 32% market share is Facebook. Combined with ownership of Instagram and WhatsApp, it makes 66% market share. Globally. In any case, YouTube, with 27% market share can be considered the second largest platform.

Popular Social Media Platforms

Facebook's market capitalization was 632.43B USD as of January 16th, 2020. This number makes Facebook the 5th biggest company in the world by the market cap. Even bigger, is the Alphabet (Google). It took 3rd place with a 1000.7 USD market cap.

You might ask, why are these companies so big, when their products are mostly free to use? The answer is advertising. Google and Facebook are the world's biggest advertising platforms. Companies spent around 170 billion dollars on Facebook and Google Ads in 2019 alone, and this number is still growing.

Major Global Digital Ad Sellers (eMarketer)

The fundamental difference between traditional and digital media is given by data that these platforms are generating. They capture every interaction of its users, so they know every user in detail. It allows targeting ads with many options, such as gender, age, location, relationship, income, home, interests, connections, generation, life events, ethnic affinity and much more.

Online Behaviors

You and your business can take advantage of it and use this platform to advertise your services or products to a very specific audience for a reasonable price. Usually a lower price (compared with traditional “offline” ads media) brings digital advertising closer to small businesses and freelancers.

Unlike traditional media, advertisers only pay for interactions. There are many cost structures digital advertising platforms are using and these are based on marketing objectives and overall campaign goals. 

CPC

Cost Per Click is the most common cost model used by almost all digital advertising platforms. It charges you, as an advertiser, for every single click completed by a user. It means that your ad contains an external link that redirects users to your website. The average CPC on Facebook is 1.72USD, but it varies across industries.

CPV

Cost Per View is a model built for video ads. You, as an advertiser, are charged every time a Facebook user sees your video. Keep in mind that Facebook considers a video as “viewed” after only 3 seconds.

The average CPV price is relatively low, somewhere between 1c to 15c, but it varies across industries. Price per view should always be compared with other metrics, like CTR, to see if it is effective.


CPM

Cost Per Mille is a pricing model, where you are charged per 1,000 impressions. An impression is when an ad is delivered to a user’s feed. If you are looking for an increase in brand awareness, this is how you will be charged.

CPA

Cost Per Action (Acquisition) is similar to CPC. You are not charged per single click, but for a specific action a user completes on your website. It can be form filling, an app install, event registration or for scheduling a meeting.

The average cost per acquisition on Facebook is 18.68 USD.

CPL

Cost Per Like is a cost model used for gaining business page likes. It is good for building brand awareness. It is usually low cost, so this could be a cheap way to promote your business page. Keep in mind, that this is effective only when your page is active and publishing content consistently.


At first glance, it might look complicated and confusing. But at the end of the day, this is what you and your business needs. It is a groundbreaking feature, because you can focus on reaching your target audience and through that, you can make your campaigns more cost-effective.

How is ad cost determined?

I mentioned several times that ad cost varies across industries and platforms. There is no fixed price per click/action, it is the subject of many conditions. Now, I will explain to you how it works, so you can create better and cheaper ads.

Google

Google's advertising platform, Google Ads, is a keyword-based PPC platform. It shows ads in a search based on the keyword the user is searching. It means, that if a user is searching “family car”, Google will show ads related to this keyword. If you're selling family cars, your ad shows up right in front of the user’s eyes. 

Unfortunately, it's not that simple, because you are probably far from being the only one who is selling family cars and advertising it. Google needs to decide whose ad to show. This process is called Ad Ranking. It takes your maximum CPC bid and multiplies it with the quality score.

Ad Rank = CPC bid * Quality Score

CPC bid

A maximum price you are willing to pay per a single click. This setting is completely in your hands.

Quality Score

Google's rating of the quality and relevance of both your keywords and PPC ads. It depends on multiple factors…

  • Click Through Rate – if your ad has a lot of views, but only a few clicks, it is a sign that your ad might be irrelevant
  • Landing Page Quality – if you are advertising “family cars,” but your landing page is focused on a sports car, Google will decrease your Quality Score
  • Relevance of your ad text
  • Relevance of keywords
  • Historical Google Ads performance

The higher the Quality Score is, the better price per click you will get. 

CPC = (Ad Rank of ad below you / Quality Score) + 0.01USD

CPC Calculation

Facebook

Facebook and Instagram ads, unlike Google's Search ads, aren't based on keywords, as these social media platforms work on slightly different principles.

Factors, that influence the cost of Facebook Ads are:

  • Ad objective
  • Bidding 
  • Audience
  • Ad quality
  • Industry

Ad objective

An ad objective is a clear and specific aim of an ad. It determines who Facebook shows your ad to. This can have an extreme affect on its cost. There are 3 main objective types that are divided into specific actions.

Awareness

Ads with the Awareness objective lead to increasing brand and local awareness, as well as gaining a higher reach and interest in your product or service.

Consideration

If your goal is to get people thinking about your product, drive more traffic to your web or generate leads, you should focus on this category.

Conversions

If your goal is to convert Facebook users to customers, then these types of objectives are for you.


Campaign Objectives

Bidding

The next factor that influences ad price is the maximum amount of money you are willing to pay. It's called bidding. You set a maximum price manually (or automatically, where Facebook calculates the best price for you) and then it competes with other advertisers in an auction. Take note that a higher price doesn't guarantee that your ad shows up. Facebook considers ad quality and user experience.

Audience

An audience, or target audience, is a group of people you aim your ad at. There are over 350 audience attributes to choose from, so you can be very specific.

Ad quality

Facebook is a visual platform and is considered to be a personal space for its users, where they are looking for creative and interesting content. So your ads should be, of course, creative and interesting. They should also be visually appealing, able to evoke emotions and they should match users' interests. This is what Facebook considers when scoring your ad.

Industry

As I mentioned at the beginning of this article, ad pricing varies across industries. Here is a table that you can use as a benchmark and with which you can compare your results.

The Cost of a Click

How can you lower your Facebook price?

Optimizing an ad price isn't an easy process. There are thousands and thousands of combinations and it can take years to find the right formula. You basically have 3 options to optimize your costs.

Become an online advertising specialist

That's perfect advice, right? I know, this is probably not the best way to go for most people, because it takes a lot of time and energy to become a specialist. Being a social media specialist is a regular full time job, so if you are not ready to quit your current job, then this is probably not the way you want to go. 

Hire someone, who is already an advertising specialist

Hiring a freelance specialist or agency can be a way to effectively advertise. This option is usually more expensive, especially if you are a one-man-show and your marketing budget is tight.

Use marketing automation tools that make it easy for you!

There are dozens of marketing automation tools on the market. These tools simplify the whole campaign creation process for people, who have no time to learn everything necessary and don't have a sufficient budget. That's why we created  app. It helps small businesses run their campaigns without extra knowledge needed. Try it here, it's free!

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How to Define The Optimal Budget for Your Marketing Campaign

All small businesses need a good marketing plan to help it reach its targets and aspirations. With every marketing plan comes a marketing budget. You can say they go hand in hand. Creating the optimal marketing budget will ensure you spend the right amount of money in the right places to achieve your marketing goals. Creating a marketing budget used to involve a lot of trial and error which can lead to unnecessary expenses and ineffectiveness. But nowadays with everything becoming easier thanks to the amount of information available on the internet, so is creating the optimal marketing budget, everyone can do it.

Small business owners are finding new ways and techniques to plan out their strategies and design successful marketing budgets. It all comes down to how much are you willing to spend to acquire new customers and increase your brand awareness.

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How to Publish Articles (Natively) on LinkedIn Like Pro

If you're wondering where you can get your articles published, so that it reaches a broader audience, we have great news for you: LinkedIn allows you to create and publish articles natively on their platform. Not only can you leverage the wide user base that LinkedIn has, but you can also use their analytics to see how your posts perform.


Like Facebook did with Instant articles, LinkedIn has switched from being a solely networking-based platform, focused on professionals, to a content-based platform that allows its user to educate themselves while spending time on their platform. That's also what both LinkedIn and Facebook (amongst other platforms) desire – to keep you, me and other users on their platform for as long as they can.


Does this feature represent the potential for you to share your knowledge among other people? You bet it does - if “done well”. Let's jump right into how you can publish articles natively on LinkedIn like a pro.


To get started, click the “Write an article” button. Can’t find it? It's right there, have a look:

Write an article — LinkedIn


Isn't this one of the features that has been in front of your eyes the whole time, but remained undiscovered? 


Once you hit the button, magic happens. You are redirected to an interface where you can create your native LinkedIn article. Having said that, you can now configure the content: add a headline, background image, write the article, add engaging or educating infographics or other visuals and finally, publish!


We won't leave you without any tips and tricks to get started (just keep reading), but we recommend you play around with this feature to get a better idea of what all you can do.

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5 Tips for Good Community Management

A strong community becomes a place where customers interact not only with the brand, but also with each other. This is a great source of positive and authentic reviews and it is also an opportunity to build a relationship with your audience. The best brands have killer community management strategies and this article explains the top 5 tips to help you better manage your community across all channels.

  1. Plan, plan, please, plan

People plan their meetings, their gym sessions, their tasks in general, why not just plan the content, then? Planning weeks or even months in advance gives you the ability to readjust your posts if needed. Set up your content calendar and approval flows. If you are doing the content alone, make sure there are no errors. Stay consistent and relevant. Planning your content ahead will help you to see the overall impression. Try it! It’s satisfying.

Scheduled Posts on Facebook
Scheduled Posts on Facebook

2. Represent your brand identity

Are you a real estate agent, owner of a flower shop or a barber? Representing your brand or business does not mean you should be boring. Be entertaining, so your audience feels good as part of your e-company. Give them valuable information, call them to action so they engage with you. Be consistent and you will become memorable. If it is not in your brand identity to behave cheeky, as for example, Netflix does, find another way to communicate in a friendly and engaging way. :)

Netflix Tweet
Outstanding Netflix Tweet

3. Track important metrics

As mentioned above, the realtor, the barber and the flower shop owner have something in common — they should not be boring. But they can have different social media goals. The realtor might be looking for new leads, because they don’t want to be dependent on one channel like e. g. Zillow. The barber needs more customers and the florist needs to be in the minds of all the guys who live near the shop, so once their special lady has a birthday, they know where to buy the best flowers! It can be difficult to determine how your efforts have contributed to sales and leads directly. Instead, it’s better to determine how you define your own success, depending on your goals.

Think about these points below:

Traffic: Is your community on your website? Do you see growth over time? Where is the traffic coming from?

Engagement: How many people are coming to your page versus those actually engaging? Which topics are they engaging in most often? This may determine your future questions, content and discussion starters.

Members or customers: How many new members do you get every week and how many do you lose? Is this consistent? If there was a drop or growth, find what caused it!

4. Use the data you collected

Analyse your posts, interactions and the feedback you get from your audience. Then OPTIMISE! You are the one who knows the data and your customers best. The value of data cannot be understated — you’ll end up with happier, more loyal customers, as well as more easily converted leads. Use the advantage!

5. UGC!

People trust other users experience more than the companies themselves. Did you know that reviewed a product’s chances to be sold are 80% higher than one without any review? Positively reviewed, obviously. Social media is all about interaction, sometimes the best content will come from your audience.

This is User-Generated Content, or UGC. It is amazing because it is authentic, and reflects what your customers think about your brand and… it’s free. It will show your customers’ experiences, and it drives the conversation forward in ways that you won’t be able to do by yourself. It is the gate to engage with people and get closer to them, making your brand feel more personal and approachable. UGC can be anything e.g. posts or tweets mentioning your brand or reviews.

Two examples of UGC campaigns:

  1. Calvin Klein asked its fans to fill in the campaign line “I_____in #MyCalvins.” Thousands of their followers took photos and posted their briefs, making the campaign go viral. In just a few months, over 500,000 photos were tagged on Instagram. Brand awareness: overloaded. Very clever :)
  2. TVNZ teamed up with World Vision to increase awareness around the 40 Hour Famine challenge and show support, while raising funds for the people of South Sudan, who were affected by extreme drought. Using the hashtag #40hfnz and sharing photos (with their hands outstretched) on social media, participants voiced solidarity. A nice project, isn’t it?

Calvin Klein
Instagram Post (Calvin Klein)

Instagram Post (40 Hour Famine challenge)
Instagram Post (40 Hour Famine challenge)

Remember: Everybody wants the response. And everybody wants the answers quickly or even instantly. Do care about your response rate and response time. It might seem that people take it for granted, but it really makes the user experience unique and enjoyable.

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One Channel Dependency Might Kill My Business!?

Is all your revenue coming from one source? That's a huge risk! Using a single sales and/ or marketing channel to market your business might be a fatal mistake for you. Single-source dependency means over-reliance on one thing and that could ruin your business. It's like having no backup. As much as you diversify your effort into various marketing channels and revenue sources, it’s unavoidable that you find a disparity in results. But that’s not to say you should stop doing it. You never know when a small revenue driver can become your main income and vice versa. 


Some businesses are dependent on one revenue source so they make themselves unduly exposed to forces outside their control. What if that source is over?


For lots of businesses this source is Google, when sales are primarily driven through Google Ads. And they take huge hits when a new competitor outbids them. 


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