If you’re a small business owner or entrepreneur looking for ways to take your branding and advertising to the next level you may have heard of the Meta Ad Platform and wondered if it could be beneficial for your company. Meta’s Ad Platform is designed to help advertisers reach potential customers with precision. Resulting in better ROI on their campaigns. But just how does the Meta Ad Platform work? Let’s explore what Meta Ad Platform is, how it benefits companies and brands like yours, and whether or not it’s right for you. Ready to get started? Let’s dive in!
Awareness vs. Conversion Goals
When creating campaigns for any platform, it’s important to decide what kind of goal(s) one wants from a particular campaign – building awareness or driving conversions. Awareness refers to making people aware of something, increasing exposure & familiarity. While conversion goals refer exclusively to getting someone to do some specific action, whether signing up for a newsletter or buying a product/service off a website. Both types of campaigns have their advantages & disadvantages but are very strong when utilized in tandem.
You’d be running Awareness, Traffic, and Conversion style ads together in a perfect world.
The cost of running Meta ads can vary greatly depending on the type of campaign you’re running. Generally speaking, you should expect to pay anywhere from $0.10 to $1 per click (CPC), or be charged anywhere from $0.01 – $2 per thousand impressions (CPM). The amount you’ll pay also depends heavily on how competitive the market is that you’re targeting and how relevant your ad is to the audience you’re targeting.
In general, Meta recommends a bi-weekly spend of:
- Conversions: $1,250
- Event Responses: $600
- Lead Gen: $900
- Reach: $300
- Traffic: $200
- Awareness: $300
The Meta Ads Pixel
The primary purpose of the Meta Pixel is to help marketers understand how people take action on their websites after viewing an ad on Meta. By placing code snippets on pages across your website – event data can then be sent back to an advertiser’s dashboard within minutes of engaging with their experiences online which helps them optimize their campaigns in real-time.
This is how we can track events, conversions, and user engagement with your website!
Tracking Meta ads is essential to understanding whether they are truly effective. With Meta’s reporting tools, you can easily track basic metrics such as total reach, clicks, impressions, and engagement rates. Additionally, tracking more granular data such as demographics and geolocation can give you valuable insights into who is engaging with your ad campaigns.
Combining the Meta Pixel and on-platform metrics can be extremely powerful for gaining insight and squeezing the most out of your ad spend.
Targeting the right audience for your campaigns is critical for ensuring maximum ROI from your ad spend. With Meta’s audience-building tools, there are many ways for businesses to drill down on their target audiences and create relevant, personalized content that resonates with each user based on factors such as age, location, and interests.
An example of a Meta audience you may use to retarget:
The last 90 days of traffic that has interacted with a particular page on your website.
Meta Ad Platform Events
Events allow marketers to better understand what users are doing when engaging with their ads or website experiences. For example, if a user goes through all of the steps in a purchase funnel but does not complete the checkout process- using targeted messaging to encourage them back onto a website might be more effective than using display advertising to get new customers onboarded right away.
An example of an event might be reaching a “thank-you” page. This event would then be considered a conversion that you could start to tally and ascribe a conversion cost.
So there you have it!
A crash course on the inside of Meta advertising and its potential usefulness. Hopefully, this was informative and answered any questions you may have had. If not, leave us a comment below or contact us directly. We’d be happy to chat with you further about Meta ads. Thanks for reading!