Facebook Ads and Audience Targeting
On the topic of digital marketing and advertising, a classmate asked me the other day about some of the content in a presentation our team created for Professor Haruvy’s Marketing Management MKT 6301 class. It hit me that our AAF site would be a great place to open up discussion with other members about relevant topics and technology in marketing and advertising.
Certainly the line between direct marketing and advertising has blurred. I think a good example of this is Facebook® Advertising. I recently took on a side project promoting a local musician. The focus was to increase her visibility in the local music community, grow her total number of Facebook page “likes” and ultimately drive music sales on iTunes.
We decided to develop an ad campaign on Facebook, run it for a couple months, and see how it performed. Facebook gives advertisers the opportunity to precisely target an audience in a number of unique ways. As Professor Haruvy noted this semester in lecture regarding segmentation and targeting, “Why make assumptions when you don’t have to.” Once you’ve decided to create an ad, you’re immediately given the option to use broad targeting based on category or the more precise advanced interest targeting. For instance, for our Marketing Management class project, our research indicated that approximately 10,000 people currently meet the following criteria:
- Have indicated that they “Like” UT Dallas
- Live within a 50 mile radius of Richardson, TX
- Are between the ages of 18 and 25
- Of this group, about 3000 also indicated that they are “in college”
Check out this Screencast video walking through the campaign referenced above…
Regarding my campaign for musician Sidney Thompson, Facebook advertising is also advantageous in that we are able to establish a fixed budget for our campaigns, run several campaigns simultaneously, measure results in real time, and use the campaigns that are most effective for us. The dashboard allows me to view, in real time, click through rate, target audience reach, social reach, cost per click and more. If one version of the campaign is performing better than others, I can focus on improvements there.
Suggested CPC (Cost per click) for the musician campaign referenced above turned out to be about .85 cents. We planned to use $50 per day from Oct 13-Dec 31st and analyze our results. We’ve currently increased page likes from 231 to 1100+ and we continue to improve performance. Well, that’s about it for now! I welcome any comments or additional info anyone else may have on the subject.