You, as an SMB owner, have a bunch of daily sales and marketing tasks you are probably facing every day, right? With these tips we will help you save some time.
You have several approaches on how to create content. You can hire a content specialist, but it is probably very expensive for you. Another option is to outsource creating content to a digital agency, but it would probably be time-consuming and a little pricey for SMB needs. The most cost-effective option is to go with some tools like Canva and use ready-made templates that align with your branding. Creating content this way will save you hours of time.
Finding out which kind of content is high-performing can be difficult. It usually means you have to analyze data from different sources, spend time doing research, A/B test your channels… or just use BuzzSumo. With this tool, you can easily discover well performing content that's ready to share with your target audience.
Do you ever do media research to see who has mentioned you? How much time does this take from your day? No matter if it is minutes or hours, you should set up an automatic keyword tracking. With Alerts, a free tool from Google, you will be notified when a certain keyword is mentioned.
A lot can be said about analytics and reporting, and at the end of the day, they can't be avoided. One could easily get lost in all those numbers and charts. Those numbers probably don't make sense, because they're missing context and are divided among many tools. You can grab Supermetrics and connect all data sources to one place and build complex reporting. But, for many small businesses it is not necessary. You have to focus on just a few basic metrics that are based on your goals. The best way to do that is to pick the right tools which have easy-to-read analytics. You can use Mailchimp for emails, groost for social media ads, HubSpot for sales, and Buffer for scheduling content. It is that easy.
Handling all your social media profiles usually takes a lot of time. But it shouldn't. There are more important tasks within your business. Learn about tools for scheduling and publishing content on social media profiles automatically. With these plugins for Wordpress you can also set up automated promoting for your new blog posts on social media. It will save you hours of time.
There are many reasons to connect with people on Linkedin. You can stay in touch with people, even if you finish your business. Any time you post a status or update your profile, your actions are displayed on a newsfeed for people in your network to view. It could bring you recommendations and new clients. Of course, it is a waste of time to do it manually. Install the Linkedin Sales Navigator extension for Chrome and connect with people with a single click.
Stop wasting your time playing email tag just to find time for a meeting. Connect Calendly or a similar software to your calendar and just share a simple link with your availability. Other people can just choose a time that works best for them. And you can leave your email inbox alone to get real work done. Ready to upgrade your communication system?
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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?
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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'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
A maximum price you are willing to pay per a single click. This setting is completely in your hands.
Google's rating of the quality and relevance of both your keywords and PPC ads. It depends on multiple factors…
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
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:
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.
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.
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.
If your goal is to convert Facebook users to customers, then these types of objectives are for you.
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.
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.
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.
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.
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.
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.
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.
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!
Facebook is the biggest social media platform in the world with over 2.4 billion monthly active users and still increasing every year. As more and more people and companies adopt online advertising it is easy to see why social media has become a key tool to help different businesses grow and reach new potential clients. It is impossible for up and coming businesses to ignore the importance of Facebook in this day and age. With a variety of different types of ads at your disposal from pictures to videos and many more which will help you reach new people and increase your online presence. The fact is being on Facebook can make your life much easier when it comes to online advertising. You just need to setup the right marketing plan and with the help of Facebook start growing your business.
So, if you are interested in advertising your business online. Follow these 3 steps to start advertising on Facebook.
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.
To someone who’s already run a local business for some time or someone who doesn’t need the know-how of online marketing yet, it might seem it’s not important to get involved with internet advertising, but that’s not entirely true anymore. Approximately 6 out of 10 people search for local businesses online at least once per week. Search engines have a vast database and almost every business is promoted online. There isn’t a simple answer to the question of what’s the best way to promote a local business online. It largely depends on the kind of business. Not every online channel will help every business thrive.
It’s important to focus on the ideal customer. Who is your business targeting? Is your product valuable for women, men or both? Are teenagers more likely to visit your facility than elderly people? Knowing your customers is the first step to choosing the best online channels to utilize for your business’s promotion.
We’re all used to connecting the term ‘brand' with relationships to companies and products. However, that’s not what we’re going to talk about right now. A personal brand is kind of like a stamp that defines your persona and how people see it. In the past, personal branding used to be only about business cards, logos and websites. Today, it’s much more diverse. (Although websites are still useful for anyone building their brand and if you'd like to know more, you can read about this topic here.) Anyone who has access to the internet and social media can showcase themselves as an expert, build an audience, and attract clients that might be interested in their business. It’s a connection between how you see yourself, how you communicate with others and how they see you. Now, where do you start and how do you build a brand for yourself?