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Harold
Posts:2494
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Facebook advertising
Just thought you all might be interested to know that I am experimenting with this. I got a $50 credit from FB to try it out, and I set up a campaign to drive traffic to the page on my site that promotes my book.

You can chose CPC or CPM and it's not cheap, at least for my campaign. I went with CPC and had to bid around $1 to get any impressions.

Too expensive for my purposes. At that price, I'd have to be getting half of those clicking to buy my book, and I know that I can't expect that kind of response rate!

But what's interesting is the targeting. I can choose by country, gender, age, amount of education. So I am targeting US women over 28 with college degrees--because children's book writers are overwhelmingly women, and they don't start writing until they have settled down. But that's not all. I can also target by stated interests--like writing--and whether or not they have "liked" particular pages.

It was also very easy to set up, easier than Adwords, from what I understand, though I've never set up an AdWords campaign.

Pretty impressive, and with FB's popularity, I wouldn't be surprised to learn that they are taking a bite out of Google's income from advertising.
October 08, 2010 05:04AM
GegaBit
Posts:3311
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
>what's interesting is the targeting

Exactly, the amount of private info people give away on FB is scary which makes it unique in its targeting abilities.

I too received that $50 coupon but just ignored it.

FB is dangerous to Google only if it starts eating into the web search market share, which it is not and it's using Bing right now. And dangerous to us if it starts serving AdSense, also not in the stars this far. As for ad spending market share, it is probably another type of animal nonthreatening to Google but in theory yes you are right.
October 08, 2010 07:16AM
Troi
Posts:4431
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
I've recently had a dabble - but no great success. I agree - exceedingly easy to set up - but too costly at the moment for me as well.
October 08, 2010 08:07AM
Pengi
Posts:3345
Senior member
Member since: 2006-12-17
:: Quote ::
Subject: Re: Facebook advertising
Quote:
I can choose by country, gender, age, amount of education. So I am targeting US women over 28 with college degrees--because children's book writers are overwhelmingly women, and they don't start writing until they have settled down. But that's not all. I can also target by stated interests--like writing--and whether or not they have "liked" particular pages.

With that precise targetting, and assuming you per per click, I would expect a well worded Ad to be able get a very high rate of buyers - make clear in the ad what you are selling and for who much - e.g. book title for sale at $xx.
October 08, 2010 08:38AM
GegaBit
Posts:3311
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
FB is notorious for very low CTR and conversion, the huge page impressions per person might be a factor.
October 08, 2010 09:04AM
Ian C. Purdie
Posts:2220
Senior member
Member since: 2008-12-12
:: Quote ::
Subject: Re: Facebook advertising
Well Fwiw, I set up recently the FB "recommend" and "share" thingy's on all my pages.

Then I realised. few of my demographic, would have FB accounts, let really care, let again would recommend etc.

I think at the moment, 0.001% recommend, then again Paris Hilton doesn't feature big on my site.

We will see with the passage of time. Hey! I'm having a go!
October 08, 2010 12:46PM
Pengi
Posts:3345
Senior member
Member since: 2006-12-17
:: Quote ::
Subject: Re: Facebook advertising
If you are an advertiser on Facebook I would expect there to be a tradeoff between CTR and Conversion Rate.

If you target your ad very precisely and word your ad to make it clear what you are selling and at what price, I would expect a very low CTR but a high Conversion Rate.

On the other hand, if you target you ad at too wide an audience and oversell your product, I would expect a much higher CTR and a much lower Conversion rate.

Getting the balance right is how to make money from online advertising.
October 08, 2010 08:58PM
Harold
Posts:2494
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
Pengi, I am not sure it's possible to get a sufficiently high conversion rate -- even with a brilliant ad, I'd need to get about 50% of those who click to go on and buy my book, given what I would earn from a purchase in both royalties and Amazon commissions.... Not gonna happen.

From what I am seeing, many advertisers use FB for exposure, and are probably paying on a CPM basis. And of course there's a lot of advertising of FB content, such as games and Fan pages,
October 09, 2010 04:27AM
Pengi
Posts:3345
Senior member
Member since: 2006-12-17
:: Quote ::
Subject: Re: Facebook advertising
I'm sure you're right in your case Harold - I was trying to illustrate the principle. I.e. that if the filter out all thous who won't buy by either not showing them the ad in the first instance, or manking clear in the ad what the product and price is so they can decide before they click that the product in not for them (hence they shouldn't click) you should be left with people who click providing a high conversion rate - although not necessarily high enough in your instance.
October 09, 2010 10:52AM
Harold
Posts:2494
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
Yes, I understand, Pengi. I would definitely need to narrow the targeting in that case, and the problem I'd then bump into is that many of those who I would WANT to target have not necessarily identified themselves as interested in "writing children's books." And that's why I targeted "writing."

Interesting so far. Very low CTR. I checked out the possibility of CPM, and it looks like I'd end up paying around the same, so I stayed with CPC.
October 09, 2010 04:31PM
Pengi
Posts:3345
Senior member
Member since: 2006-12-17
:: Quote ::
Subject: Re: Facebook advertising
To het a high CTR and a high conversion rate you need to be sellin money cheap.
October 10, 2010 10:59AM
GegaBit
Posts:3311
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
Pengi, true all logical rules apply but:

FB as mentioned before has a reputation of being somewhere below even forums in driving conversion, as Harold said it's probably good for branding, people probably go there with the sole mentality of socializing.
October 10, 2010 04:00PM
Harold
Posts:2494
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
GB,

Yes, I see a lot of national brands advertising on FB, and their ad does nothing more than take people to their Fan page. Definitely about branding.
October 11, 2010 02:35PM
GegaBit
Posts:3311
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
it's a real pity
no one, not even Google has that much personal information, history, education, relationship, emotional status, income, age, travel preferences, social status, sexual orientation, even current mood, and all that huge traffic fails to produce converting ads.
what a waste!
October 11, 2010 05:19PM
Harold
Posts:2494
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
Well, I've reached the end of my $50. Approx. 111,000 impressions, 30 clicks, and as far as I can tell, no conversions. FB will not be getting any real money from me.
October 27, 2010 09:56AM
Troi
Posts:4431
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
I too have had poor results and for the moment will not be spending any time on advertising with them. What I will say is that the interface and set up is very well done and very user friendly compared to adwords/yahoo/adcentre.
October 27, 2010 10:32AM
Harold
Posts:2494
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
Yes, I agree. For the right kind of campaign, it's great.
October 28, 2010 03:10AM
GegaBit
Posts:3311
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
There's a lesson here to be learned:
If your product is crap, don't give away samples!
October 28, 2010 01:27PM
DamonHD
Posts:6158
Moderator
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
Now you've been watching *me*!

Rgds

Damon
October 28, 2010 06:28PM
Harold
Posts:2494
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
I don't know, GB. I NEVER would have tried FB advertising if they hadn't given me a credit.

If 5% of the people who try it go on to do a paid campaign, they've done well....
October 30, 2010 04:27AM
Pengi
Posts:3345
Senior member
Member since: 2006-12-17
:: Quote ::
Subject: Re: Facebook advertising
Horses for courses I would guess.
From what I've read here, it appears that FB advertising may be excellent value for deveoloping brand recognition targeted to specific market segments.

It sound as that FB advertising is not particularly good for advertising specific product sales - however, even in this case, I can't help feeling that it may, in fact, be extremely good given the right product (i.e. one that appears to the sort of people who use facebook) combined with a really compelling and focussed Ad.

But clearly there seems to be little to offer general internet publishers.
October 30, 2010 10:43AM
GegaBit
Posts:3311
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
I doubt that Harold
Uneducated guess but it's more likely that less than 5% of those they gave away free samples to are commercially viable entities to start with, of those less than 5% would consider advertising in general, and of those less than 5% would consider facebook as a good option, and of those 5% just might a long term campaign..

so what's 5% of 5% of 5% of 5% ?

0.00000005
October 30, 2010 10:52AM
DamonHD
Posts:6158
Moderator
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
GB: time for a refresher on (mental) arithmetic! B^>

Rgds

Damon
October 30, 2010 11:28AM
GegaBit
Posts:3311
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
you're right, it's 125 times that
still 0.00000625
October 30, 2010 11:55AM
Harold
Posts:2494
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
True. But Facebook is doing pretty well financially, though how much of that is from advertising I don't know.
October 30, 2010 03:42PM
Ian C. Purdie
Posts:2220
Senior member
Member since: 2008-12-12
:: Quote ::
Subject: Re: Facebook advertising
Isn't advertising, whatever form, their sole source of revenue?
October 30, 2010 09:22PM
Harold
Posts:2494
Senior member
Member since: 2006-11-30
:: Quote ::
Subject: Re: Facebook advertising
You may be right. I thought they also made some money on purchases of virtual items for use in FB games, but I may have misunderstood that.
October 31, 2010 03:58AM

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