Zuck Sleeps On A Pile Of Money
The last time I checked, the point of having a business was to make money for yourself (and investors, shareholders, etc), not to find every opportunity to give it away to someone else.
And yet, I constantly see people throwing away money on Facebook ads. Now, don’t get me wrong – Facebook ads are a good thing. If done properly, they give you exposure to large numbers of people in your target demographic. But if done poorly, there is no easier way to flush thousands of dollars down the toilet.
Balancing Content VS Likes
Before you spend any money getting Likes, you must have some content on your page – and it has to be good content. Yes, kittens rule the internet, and yes, they can help get people to Like your page, BUT – you also need good content about your business and the services that you offer. If you haven’t posted about what you do, how can you expect any of the 500 Likes you bought to translate into any value?
I never, ever, advocate buying traffic to your website. It is so much better to have 200 unique visitors every month who actually care about what you offer than it is to have 20,000 who live overseas, can’t buy your product, and have no need for your product. Sites such as fiverr.com allow you to buy ‘traffic’ and Likes for pennies, but what’s the point? Similarly, setting a Facebook ad spend to $200 a day will get you tons of Likes, but there’s a catch. Facebook users are smart. Every day they get a few items in their streams from ads or friends that ask them to Like a page. And they do. But then they go to their settings page and hover over the Liked button and deselect ‘Show In News Feed’. Congratulations, you’ve just blown your ad spend. You’ve got a new Like, but you don’t have a new prospect.
Here’s the scoop – about 16% of the people who have ‘Liked’ your page will see any given Facebook post – assuming that you’re doing zero advertising. Once you start to spend with Facebook, they tweak their algorithm to let more and more people see those pages. How many more? Only a select few within Facebook know the answer to that. I think it’s safe to assume that the more Likes you have, the more you need to spend to move the needle.
If you are using Facebook as part of your marketing mix, and I think most businesses should be, you need to be smart about it. Remember that the goal is never to get more Likes on social media – its to get more money in your bank account. It is much better to spend less over a longer period of time than to spend it all at once. Your traffic will be more stable and more likely to convert to sales. If you keep the content on the page fresh, those people will be more likely to stay tuned in for the long haul. And, if you keep that content interesting, those people may share it with their friends.
THAT is where there real power of social media takes over – word of mouth, and referrals from friends. If you are planning a significant ad spend (significant in terms of your overall marketing budget, not in terms of actual dollars), you should talk to a social media professional. We do this all the time, and can use the lessons that we’ve learned to save you money.