With 2 Billion daily active users your ideal customers are logging into Facebook everyday just waiting for you to put a message in front of them. Each day that goes past when you’re not effectively targeting them is wasted opportunity.
A lot of people have a misconception that Facebook advertising won’t work for B2B businesses, This is completely untrue. Most of the decision makers in a B2B environment have a Facebook profile. It’s all about using the right targeting and strategy to win both B2B and B2C customers on Facebook.
Firstly, we are going to look at the three most important types of audiences you can create in the Facebook ad platform:
To make sure your campaigns are effective and to help with the optimisation phase, you always want to create 3 ad sets testing each type of audience when creating campaigns.
If you’re new to Facebook Advertising you will have to target people who don’t know you or your business. This is what we call “cold audiences”. These people have no idea who you are and we advertise to these people in a specific way. We also use interest targeting to advertise to cold audiences and I will talk about that later on in this article. When we target cold audiences, we need to treat them in a certain way so they can become part of our other audiences. Typically, our ads to these audiences are either just offering value or we are offering a very low commitment action such as an opt-in for a PDF guide or lead magnet.
With a lookalike audience, we are still dealing with mostly cold traffic but we have given Facebook an “ideal client” to mirror. With lookalike audiences, we upload our current email list and ask Facebook to find other people who have similarities. You can also select the level you want to match on a % scale, 1% being as close to your data as possible and 10% being a much broader audience. The power of a lookalike audience means we can target cold traffic more effectively because you know that people who see your Ad will be closer to your ideal customer.
Lastly, we have custom audiences that you create from your website traffic, email list, engagement on Facebook, video views, or customers who’ve brought from you. Custom audiences are the most valuable audiences you can target on Facebook and can be extremely impactful on your campaigns if used correctly. This is because you can retarget based on website visits, Facebook page visits, saved posts and much more. Ultimately all of our traffic becomes grouped into four main categories and you need to be able to manage and market to all of these separately. Each traffic source needs a different message and angle.
Cold Traffic, Warm Traffic, Hot Traffic and Value Ladder Buyers
When you start to manage your audiences it can get quite messy, so you need to know how to manage them. For our larger clients, we focus more on brand awareness campaigns that cover all types of traffic. For smaller businesses, it’s extremely important to focus on building your audiences precisely. In order to keep track of who is who, we divide our traffic into four core segments: Cold | Warm | Hot | Value Ladder Buyers
Cold traffic will always be your most expensive form of traffic. The best way to “warm up” your cold traffic is to do what we call “audience building” and “lead generation”. This could be a video, an article or a low-barrier lead magnet in exchange for contact details. The purpose of “cold traffic” is to simply introduce yourself to your audience and start building a foundation of trust and a relationship. We tend to use brand awareness campaigns to warm up cold traffic because they get the most reach.
Warm traffic is great and allows you to use the power of your custom audiences to retarget people. All the people that interact with your “Cold Traffic Ads” can be created into a custom audience and retargeted as a warm audience. You can now start to move “warm traffic” through your sales funnel.
Hot traffic is the best kind of traffic. These are your potential buyers who’ve engaged with your brand and are most likely to buy your product or service
Value Ladder Buyers
The final audience you need to manage properly is your customers. It’s very surprising how many businesses are not running any ads to their customers. The secret untapped goldmine is selling more to your EXISTING customers. It’s the untapped gold mine because it’s 100 million times easier to sell to an existing customer than to a cold prospect. They’ve already bought from you and invested levels of trust in you. If you’ve delivered a good product or service they’ll be happy to buy from you over and over again. Why not offer them the chance to take the next step in your value ladder? Show them the opportunity that exists to take them to the next level. I’m sure a lot of Facebook’s users would be shocked if they knew how much Facebook knew about them – yes Facebook really is big brother.
How To Targeting Cold Audiences:
Although the majority of new Facebook advertisers need to start with cold audiences through Facebook’s targeting options, you should always test Facebook targeting in separate ad sets alongside all of your other audiences. Facebook has a vast range of targeting options that are categorised into Demographics, Interests, Behaviours and Third Party Sources. Through these options, Facebook will populate an audience size for you. You ideally want to start off with audiences sizes of 500,000 – 1.5 million if you’re targeting nationally. If you’re targeting geographically you want to add your location and test broad targeting versus specific targeting.
How To Target Custom Audiences:
Custom Audience are extremely important. Have a customer list or a prospect list? Simply upload your data and Facebook will match your data to profiles. You can now run specific ad campaigns only to your data. This is extremely powerful when combined with other marketing platforms. For example, if you’re running an email campaign to your list you can target the same people on Facebook with the same message. That counts as another touch point; remember the business that has the most amount of touch points with a prospect will win. You can also have a specific marketing message that resonates with your custom audience. Once you have the Facebook pixel installed on your web pages, Facebook can create custom audiences of your web traffic ready for you to retarget. This means that someone can go on your website and look at a specific product or service and when they log into Facebook see an ad from your business advertising the product or service they just looked at. This is amazing for capturing people that don’t take any action on your website.
How To Target Lookalike Audiences
Finally Lookalike Audience: Based on your custom audiences you can tell Facebook to go and find more people who are similar to your website traffic or email list. This allows better accuracy versus choosing targeting options as you normally have to do a lot of testing to find the winning audiences.
Within the audiences section in the Ads Manager you select the custom audience you would like to create a lookalike of. Then when it comes to creating an ad you would select your lookalike audience.
Hopefully this article has given you insights into the incredible targeting features the Facebook ads platform has. In order to run successful campaigns you have to run and test all types of audience targeting and segment all of your traffic into their specific category.