Episode 1: Audiences and Targeting
On this episode, I about going to be talking about the pillars of a rock solid Facebook advertising Strategy.
Audiences and Targeting
Bidding and Budgeting in the auction
Creative
Before I start that I want to talk about how important it is to have a validated product.
If you have a product people want, you are using Facebook to find more people at scale that want your product.
Most other elements in Facebook advertising, support the above.
MJ DeMarco
author (Millionaire Fastlane/Unscripted
If your business stops when you stop advertising, you have a product problem #profound
Aim for a "productocracy" which is a product that PULLS vs PUSHES:
1 new customer = 2 thru word of mouth.
A productocracy survives and grows without advertising.
If your business stops when you stop advertising, you have a product problem.
An ad-dependent business = PUSH.
Audiences
So let us talk Audiences
When you hear about the advantages of marketing on Facebook, be it organic or Facebook advertising,
you always hear about the number of monthly active users.
Facebook has about 2.2 billion active users.
As an ecommerce brand, you are going to have to initially figure out segments within this 2.2 billion base that will make ideal potential customers.
This is where targeting comes in.
On Facebook, you have the following targeting options:
Cold audience targeting
Custom Audience Targeting
Then as your custom audience targeting matures, you can eventually use what I term the power of Facebook audience targeting: Lookalike Audiences
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