Google AdWords
What a stupid thing to say.
Let me rephrase that:
We ran a handful of experiments with Facebook advertising and the results were inconclusive.
Background:
We do a lot of work with Google AdWords, but Facebook really appealed, mainly due to the razor-sharp targeting.
With Facebook, for example, we can target people interested in Software Development in the UK and US between the ages of 25 and 55.
Try doing that with AdWords.
We were also realistic in our expectations, mainly in that we had none.
Facts:
- This was no more than dipping our toes in, so we budgeted $2,500.
- We committed almost no time to learning the system. This was our learning experience.
- We only setup a small number of campaigns and ad variations.
Results:
- 8,384,960 impressions
- 957 clicks
- $2,466.54 total spend
- $2.58 per click
- 1 lead
- 0 conversions
Analysis:
- Toto, I’ve a feeling we’re not in AdWords any more. Those click through rates would be nauseating in AdWords, but this isn’t AdWords.
- Time spent on the website and bounce rates were very good, so the targeting appeared to work.
If we really wanted to establish whether or not Facebook would be a good fit for our company, we’d have to make three commitments:
1 – time to master the system
2 – time to manage the campaigns
3 – a reasonable budget
Conclusion:
I was hoping for a black or white result. Either Facebook advertising works or it doesn’t. But I didn’t get one.
If one person had signed up for our services, and remained with us for only three months, we’d certainly have made a healthy profit. But they didn’t. Not yet at least.
So we’ve established that Facebook might work for our company. Potentially.
The problem with dipping your toes into the water is that it’s sometimes difficult to see whether it’s cool or warm. You can rule out boiling or freezing, but sometimes the only way to really decide whether it’s for you is to jump in.
The only way to decide whether this works for our company would be to make the commitment to try, this time properly. But deciding that Facebook isn’t a good fit might prove to be a costly mistake in the long run.
If only everything was black or white.
I would imagine that one benefit of trying out Facebook like this, is that it’s a way to step into your customers shoes. I’m sure it helps you remember what it was like when you first started to use Adwords.
Back then, how long did it take for you to realize the water was hot?
How long does it take to know Adwords or Facebook will work for you?
And if you’re starting out and learning as you go, would you recommend starting with a low budget as you get your toes wet, then spend more when you know more
Well, i’ve to admit that my investment into Facebook budget has been very limited as I was interested to see more the way how it works rather than expecting conversions.
However, i’ve got positive results too. 3 conversion on 50 euros of budget, so i’m quite surprised to read your results. Perhaps the campaign suffered some conversion glitch?
I think it depends on what you’re selling. It’s possible that Facebook won’t be a good fit for our services. We’re not cheap, and we’re never going to be an impulse buy.
What do you sell?
Dave, I agree with your #3 comment. It’s a customer to customer, business to business decision. What works for one may not work for another, so your “dipping your toe in the water” approach is a good way of testing the waters.
I think it doesn’t just depend on what you’re selling, it almost exclusively depends on what you’re selling. Some products and services can’t be explained in a 15 word ad. They may require additional details and descriptions that a simple ad can offer. So the ad service may not make sense for all, but at least giving it a try and seeing if it can work for your business is a risk most should at least should give a single shot.
Thanks for sharing your stats and analytics!
Dave, I agree with your #3 comment. It’s a customer to customer, business to business decision. What works for one may not work for another, so your “dipping your toe in the water” approach is a good way of testing the waters.
I think it doesn’t just depend on what you’re selling, it almost exclusively depends on what you’re selling. Some products and services can’t be explained in a 15 word ad. They may require additional details and descriptions that a simple ad can offer. So the ad service may not make sense for all, but at least giving it a try and seeing if it can work for your business is a risk most should at least should give a single shot.
Thanks for sharing your stats and analytics!
Hey Dave,
I started this charity project a couple of years back. Some 3 months ago we had a big debate as to how to approach fundraising since without it we cannot get to the next step. Apparently those among us who felt that we should do it the ‘modern’ way won the day and we’ve subsequently wasted; yes..wasted substantial funds on facebook ads. It’s just today morning that we decided FB ads won’t work and basically we have to start seeing people (physically) who are most likely to partner with us; as in donate. We’ll of course also be resulting to good old newspapers ads and flyers.