Have you ever been asked to market anything that had a national appeal, but the asset value didn’t allow a national advertising campaign? It happens to my clients on a regular basis. My advice for that situation has recently changed, as a burgeoning technology helps solves part of that problem.
Facebook advertising is billed in terms of cost per click (CPC), but that price isn’t uniform. CPC is determined by algorithms and invisible auctions. Ads compete for eyeballs, as Facebook allows only a certain number of ads during a user’s time on the service. Facebook wants ads to be appeal to its users, so that they aren’t annoyed off the platform. Because of this, the world’s largest platform wants paid content to match user interests as much as possible
There’s a sneaking suspicion in many auction marketers—and definitely in their sellers. We wonder if there was a stone unturned, a motivated bidder that wasn’t reached by our advertising. Did we cast a big enough or tight enough net? What people weren’t in our mailing list broker’s database? Who didn’t read the newspaper during the
As a vendor, I’ve learned the advantages and disadvantages of the five different ways you can outsource your Facebook marketing. I’ve assembled a brief overview of each here, in case you’re wondering which option is right for your business.
I’m not telling you how or where to spend your money. I’m just letting you know that neither you nor I can trust our assumptions.
With each new technological capability, auctioneers have needed to fit more tools into their marketing tool boxes, but they’ve also gained more and better ways to find motivated buyers and sellers. Is your advertising updating itself after you cut it loose? Is it adapting to buyer interests? If not, how much of a head start are you willing to give your competition while their marketing is?
While there are groups or lists of people you can’t find on Facebook, there are a lot of specific audiences readily available to make your auction advertising more effective and efficient. Not all buyers are on Facebook; but there are more buyers there on any given day than in newsprint, magazines, or any TV channel. The specificity to which you can market on Facebook is unprecedented and unparalleled.