Facebook Ads For Financial Pros: The Three Most Important ThingsArticle added by Jonathan Musgrave on November 28, 2016
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This year, we’ll spend more than $250,000 advertising on
Facebook. It’s been the primary reason our business has doubled (2 years in a
row), and people are starting to call us “the best online marketers in financial services.” But as we dial up winning ad campaigns on a daily basis,
many others are frustrated with their results. After spending a few hundred dollars
without results, advisors write it off as a failed venture – Facebook doesn’t
work in our business…
Related: [Facebook] Business overview
I’m here to tell you that it does work, but just like any
tool you must know how to use it correctly. In this brief article, I want to
share with you the three reasons people aren’t getting results with Facebook (I’ll
even throw in a couple juicy nuggets that will put you on the path to success).
1: Boosted posts suck
There’s not really a nice way of saying it other than that
boosted posts aren’t worth the 5 or 10 dollars Facebook tells you to spend on
them. The reasons are a little complicated, but I’ll explain this in simple
Related: ACA exchange pays 50 cents per 1,000 Facebook views
Ultimately it all comes down to campaign objectives. When
you select your campaign’s objective, Facebook is automatically going to select
people within your audience it believes will be most likely to take that
action. For example, if your campaign objective is “Clicks To Website” Facebook
will select people within your audience they feel are most likely to take that
desired action – clicking your ad. When you boost your post, Facebook has very
loose definition of an objective – essentially to get that post in front of people.
In digital marketing speak these are impressions (the number of people who will
see your boosted post).
Boosted posts will get you impressions, but in reality any
conversions you get are pure dumb luck because you aren’t utilizing the most
valuable aspect of Facebook advertising – predictive analytics. Our highest
converting Facebook ad campaigns all use the campaign objective of “Increase
Conversions on Your Website,” simply referred to as a conversion campaign. In
conversion campaigns Facebook optimizes your ad to be delivered to people who are
most likely to convert based on their past behavior. Imagine being able to send
direct mail only to people who have responded to mail offers in the past… That’s
exactly what conversion campaigns do.
2: Likes don’t matter
Perhaps the most iconic aspect of Facebook’s social network
is the blue thumbs-up “like” button. In the past there was massive value to be
had for those who could get lots of people to like their page, but those days
are all but gone.
Why? It’s very simple. As soon as Facebook went public,
their millions of shareholders demanded they do something they hadn’t done
before – generate revenue. Facebook did this is fantastic fashion by pouring jet
fuel on their advertising platform. What this means to people still hoping for
likes to generate leads is that Facebook is no longer delivering your posts organically to fans (people who like your
page) like it once did. In total organic reach is down 52% in 2016 alone and is
estimated to be around 2.6% across the platform.
What does this mean for you? It means that even if you
invest the time and money to build a following, less than 3% of your
hard-earned followers will even see your posts. Instead Facebook will now
charge you to send your content to their users whether they are followers of
yours or not.
3: Conversions are king
Did you know that social media sites account for more than
43% of all clicks to websites today? Yes Google is still the #1 search engine,
but Facebook isn’t a search engine. To us as advertisers Facebook is a display
What’s the difference? Google knows what someone is looking for. Facebook knows who these people are. Think about that for a second... The massive
amount of data that Facebook has on their users has essentially turned it into
the world’s largest consumer database allowing us to send messages to only our
But all the data in the world is useless unless you know how
to drive traffic that converts. Conversions are (and always will be) the most
prized possession in all of marketing: Getting a yes.
There are many things that are required for a high
converting ad campaign, and it doesn’t matter if we’re talking about online
marketing or direct mail. The market we are targeting, the message we are
sending, the magnet that attracts people all have to coordinate. They all have
to match. When you do a fantastic job of dialing in the message, market, magnet
match – you’re just a few clicks away from massive conversions.
Digital marketing is taking over the entire marketing
landscape. It doesn’t matter if you sell mattresses or life insurance. The
longer we cling to the outdated forms of marketing we’ve relied on for decades,
the faster we will be crushed by the massive digital revolution. In our
business, we consistently fill seminars, generate leads, and even schedule
pre-qualified appointments 100% online by leveraging the powerful technology at
our fingertips. Facebook is one tool we’ve found to be highly productive for
our clients across the country.
Before you’re lured in to spending $25 or even $2,500 on “cheap”
Facebook traffic, ensure that you consider the items above – the three things
you MUST know before advertising on Facebook.
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