Connect with us

Entrepreneurship

How to Create a Facebook Ad Strategy That Actually Works

Published

on

Opinions expressed by Entrepreneur contributors are their own.

Every business owner, entrepreneur and social influencer understands the importance of branding and marketing for profitability. If you don’t have eyeballs on your business, you aren’t getting traffic and converting consumers into clients.

Still, it isn’t only about getting people to look at your ads or website; you must also find the right audience and connect with the correct message on the most appropriate platform. While traditional and modern media provide various outlets for marketing efforts, few compare to the power and prevalence of the humble Facebook Ad — when done correctly.

Related: Facebook Ads: The Complete, Always-Updated Guide

Facebook: the social empire

Facebook, despite frequent controversies, is the most popular social media platform. As one of the few founding platforms to survive countless reiterations, profitability challenges, and privacy battles, Facebook developed from a typical friend-sharing site to a marketing powerhouse.

The platform delivers metrics, capabilities and audience numbers far exceeding any other. To capitalize on the advantages of the social media juggernaut, you must learn the art of creating appealing Facebook ads and campaigns.

It is not enough to produce an enticing image and bold messaging. To stand out from the crowd — the competition in the Facebook arena is undeniable — and leverage the social media empire, you must create compelling media that speaks to your target consumer.

Related: Improve the Power of Your Facebook Ads With These Small Tweaks

Ad leakage: understanding and correcting marketing loss

Every ad campaign costs a percentage of profits. The costs should account for an acceptable loss. Unfortunately, because many business owners and entrepreneurs are unfamiliar with optimization strategies, Facebook Ads can quickly envelop profits and marketing budgets.

Correcting marketing losses is about identifying a campaign’s leaks or weak points. The only way to identify ineffective ads is to compare advertisements. Still, it is only possible to identify and correct potential errors if you know the right design, implementation, and measurement strategies.

Social media strategy: building a better foundation for advertising success

As easy as it is to create social media ads, rushing the design process is a mistake. By approaching Facebook ads strategically, you can develop a measurable and changeable foundation, allowing you to weigh the cause and effect of various decisions.

– The importance of research

Many professionals underestimate the significance of market research. They assume, as the creators of a product or service, they automatically understand the mindset of their target consumer. Realistically, consumers buy products or invest in services for many reasons. While a professional’s motivation for creating the business might be valid, it might not be the most profitable.

Before developing ads, consider your audience, motivations, and needs. Do not allow bias to motivate your marketing decisions. Hire a research team to survey the market, or invest in market research on your own.

– The significance of building blocks

When talking to marketing experts, you will hear them talk about five aspects of ad design: image, headline, text, call to action, and value proposition. While important, the fundamentals of ad design are only one element of the building blocks of marketing. The other blocks include target audience, testing, and optimization.

Even a tiny Facebook advertisement requires planning. You must know which ad type is best for your target demographic and where the ad should appear for the most success. With no clear foundation, the ads will probably fail.

– The value of clear objectives

One critical but oft-forgotten element of advertisement prep is creating and identifying clear and measurable objectives. Every advertisement must have a purpose. For example, do you need a Facebook campaign to increase brand awareness or improve sales of a specific product or service?

Knowing what you expect from an ad campaign will help you identify its performance. Clear expectations will also limit the risk of spending more than you want for a particular campaign effort.

Budget and costs: creating enticements and measuring success

The success of every Facebook or marketing effort comes down to original budgets and costs. After the campaign, you want to make more money than you spent, hopefully, a lot more. Your profits will stem from your ability to create ads with appealing offers, measurable performance, and a genuine understanding of a customer’s lifetime value.

– Making appealing offers

An effective ad makes an appealing offer without selling. The best-performing Facebook ad offers are those that appeal to people’s psyches. You need to use the power of influence and navigate the sales process with a lighter approach. For example, if your consumer is charitable, consider donating a portion of every purchase to a specific and related charity and specifying that in the ad.

Related: How to Increase Customer Lifetime Value And Boost Profits

– Letting metrics guide decisions

While intuition and willpower might have motivated your entrepreneurial ambitions, they should not guide marketing decisions. Facebook offers ad metrics for a reason; use them, but focus on hard data, not vanity. Sales, not clicks or social engagement, are the objective measure of ad success.

Also, consider customer lifetime value when weighing metrics. Sure, if it costs you $80 to convert a customer for an initial $50 sale, that seems like a significant loss. However, if the customer represents an LTV of $300, the initial loss is worth it.

Facebook represents a significant marketing opportunity if you know how to construct, implement, and measure ad success. As a business owner, entrepreneur, or social influencer, understanding the tools at your fingertips is the key to future growth and profitability.

Source link

Entrepreneurship

3 Ways to Boost Confidence

Published

on

“As a business owner, you’re going to face all sorts of challenges,” says business development consultant and Entrepreneur magazine writer Terry Rice. “But a lack of confidence will tank your chances of success faster than any real obstacle.”

So how do you shake off imposter syndrome when you’re attempting something new? Here are three ways to boost your confidence.

1. Realize confidence comes from past experiences, not pep talks. You don’t need motivational posters to remind yourself about what you can do. Jot down ten challenges that you’ve already won. Keep this list handy to remind yourself of what you’ve already accomplished and why you can take on new challenges.

2. Stop worrying about other people’s opinions. Most people are either rooting for you or ignoring you, so just focus on getting 1% better every day.

3. Learn to see failure as data. Think of every project, pitch, or sales call as an experiment. You’re testing something out, and if it works, great. If not, you’ve learned something and can improve your approach going forward.

Related: 60-Second Tip on Getting More Productive

window.addEventListener(‘load’, function() {
!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,
document,’script’,’

fbq(‘init’, ‘1098588566942656’);
fbq(‘set’,’agent’,’tmgoogletagmanager’, ‘1098588566942656’);
fbq(‘track’, “PageView”);
});

Source link

Continue Reading

Entrepreneurship

Layoffs Abound, But These Major Companies Are Still Hiring

Published

on

This year started off with massive layoffs — from Big Tech to real estate and beyond.

But it’s not all bad news.

Though many industries continue to brace for more job cuts, some of the most well-known companies are still hiring, per Insider.

Related: These Are the 2 Reasons Apple Has Avoided Mass Layoffs So Far

Economists remain optimistic about the 2023 job market, CNBC reported, noting that blue-collar workers may have more job security than white-collar employees. ZipRecruiter chief economist Julia Pollak told CNBC that despite headlines about mass layoffs, many companies “are starved for talent and leaving money on the table because they can’t run at full capacity.”

Related: Layoffs Affecting 1,600 Tech Workers a Day on Average in 2023

See Insider’s full list of hiring companies and the number of jobs they’re looking to fill below.

Chipotle: 15,000 jobs

Boeing: 10,000 jobs

United Airlines: 2,500 jobs

Airbus: 13,000 jobs

Alaska Airlines: 3,500 jobs

Bloomberg: 1,000 jobs

Moderna: 2,000 jobs

Palantir Technologies: A few hundred jobs

Binance: 15%-30% workforce increase

Hudson Tunnel Project: 72,000 jobs

window.addEventListener(‘load’, function() {
!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,
document,’script’,’

fbq(‘init’, ‘1098588566942656’);
fbq(‘set’,’agent’,’tmgoogletagmanager’, ‘1098588566942656’);
fbq(‘track’, “PageView”);
});

Source link

Continue Reading

Entrepreneurship

6 Ways to Celebrate Black History Month beyond February

Published

on

Opinions expressed by Entrepreneur contributors are their own.

Celebrating Black History Month is a great way to honor the significant contributions African Americans have made throughout history. However, to create a truly equitable workplace and ensure that our employees feel seen, heard and valued daily, it’s essential to recognize Black history as an integral part of American history throughout the year.

Research shows that workplace diversity positively impacts employee engagement and productivity. In other words, creating an environment of inclusivity for all employees isn’t just the right thing to do, but it also makes good business sense. An authentic celebration of Black heritage throughout the year can help companies foster understanding and empathy among coworkers from different backgrounds. Such a celebration also allows employees to learn more about their colleagues’ experiences, promoting a deeper sense of community and understanding.

Related: It’s Black History Month. Here’s How to Show Black Employees You Care.

By recognizing Black history all year long, companies can show their employees they care while demonstrating a commitment to creating an environment where everyone feels seen, heard, valued and respected. Celebrating Black culture is one way to ensure all employees feel included in the workplace, no matter what month it is.

Here are six ways to be a better ally and celebrate Black History Month beyond February:

1. Celebrate authentic Black history and culture

Make sure that all employees have access to accurate and current information about the African-American experience and contributions throughout history. Encourage employees to learn more about the accomplishments of African Americans in a variety of fields — from science and engineering to art, music and literature.

How to implement it: Provide employees with a list of books, movies and articles by African Americans that tell the stories of African Americans throughout history. As opposed to non-African Americans telling the stories about African Americans (which has been the norm for too long).

Related: Be Intentional About Diversity

2. Plan authentic events

Celebrate Black History Month by planning events that make meaningful connections to the African-American experience. Invite guest speakers to share their unique perspectives on Black success stories and create opportunities for employees to engage in dialogue about important topics such as race, identity and inclusion.

How to implement it: Engage in an open dialogue with employees about the types of events they would like to participate in, such as movie screenings, group discussions and panel talks. Use their input to plan engaging activities focusing on Black culture and history.

Related: Here’s the No. 1 Question White Leaders Ask Me About Black History Month

3. Show authentic support

Show employees that their contributions are seen and valued by celebrating their success throughout the year. From recognition awards to career advancement opportunities, ensure you’re actively engaging with all of your employees so they know their work is appreciated.

How to implement it: Highlight employee achievements in company newsletters and recognize them at team meetings. These small gestures can go a long way in making your workplace more inclusive for everyone!

4. Host educational events

Consider hosting educational events such as lectures, workshops and brown bag lunches that focus on learning more about the roots of Black history in America. Provide professional development resources and opportunities for employees to engage in meaningful conversations around race, culture, and inclusion.

How to implement it: Invite experts in the fields of African American studies or Civil Rights to speak to employees about the history and legacy of Black people in America.

5. Incorporate inclusive resources into training

Include inclusive language, images, historical facts, etc., into all existing workplace diversity curriculums and training materials. Such a universal approach will help employees become more aware of the impact that race, gender and ethnicity have on daily workplace interactions.

How to implement it: Incorporate examples from Black history into existing diversity training materials such as videos, readings, and case studies. Ask employees for feedback about which resources would be most useful for learning more about Black history and culture.

6. Develop authentic mentorship programs

Invest in mentorship programs focusing on developing collaborations between African American employees and their colleagues of other ethnic backgrounds. Establish safe spaces where everyone can share their experiences openly and without judgment.

How to implement it: Create an inclusive environment through team-building exercises, cross-cultural conversations and networking events. Facilitate dialogue among employees of different backgrounds and encourage them to share their insights and ideas.

Celebrating Black History Month is an important way to remind everyone of the contributions African Americans have made to our society over the last several hundred years. Yet it’s also important that we recognize these achievements throughout the year in the workplace. By incorporating authentic resources into the workplace, employers can create a more inclusive atmosphere for all employees — no matter what month it is.

window.addEventListener(‘load’, function() {
!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,
document,’script’,’

fbq(‘init’, ‘1098588566942656’);
fbq(‘set’,’agent’,’tmgoogletagmanager’, ‘1098588566942656’);
fbq(‘track’, “PageView”);
});

Source link

Continue Reading

Trending

%d bloggers like this: