How To Make Money Off Of FacebookAt an estimated value of 20 Billion dollars, Facebook has dominated the Social Media Industry. Starting off quiet and delicate, Facebook now reaps a tremendous profit from its 500 million users it possesses world-wide. Due to its vast nature, Facebook should be considered in a world of its own, though commonly, people mistake it for “internet advertising”. Internet advertising is something you buy from The Ad Hound, Facebook is not internet advertising, it is Facebook advertising.Internet advertising is like fishing; you lay out your keywords and ads, and then wait for someone to bite. Whereas Facebook, there is a stealth nature where you need to coax your users into doing what you want. As soon as you recognize that concept, your business will be able to grow. You can’t get on Facebook, blast off a few marketing rounds, and expect sales to go up; instead you will scare everyone away. Think of Facebook as a room full of potential buyers, a really, really, really big room. If you are the sales rep, people are hesitant to listen, but if you can get some of the people in the room to promote you, the trust and interest will skyrocket. This is what you want to achieve.Once you do master the art of Facebook communication, you become extremely desirable, even to other businesses. Not only will the traffic to your website increase, but you can charge others to advertise on your fan page. For a reasonable fee, all you need to do is mention a different company the same way you promote yours, and let your fans chatter about it.Most companies have parted from a very pretty penny to get online, taking great pride in their company’s website. The same pride and attention should also go the same for a Facebook page. If you haven’t made a custom page, you are falling behind. Fortunately, custom Facebook pages cost far less than a website;The Ad Hound’s largest package is only $625, and the package is more than enough for the average company (source: http://www.theadhound.com ).Just remember that Facebook is about quality, and time. The longer you stay at it, your fan base will grow, and your value will increase. Everything you do needs to be comfortable to your users, as well as appealing.
Facebook 101For those of you who are new to Facebook ads, we thought it might be helpful to give an overview of how exactly Facebook ads work.Maybe the easiest way to do this is to answer some basic questions.What’s the Difference between FB Ads and Google AdWords?We’ve covered this question in detail before but here is the short answer: Generally speaking, people use Google to solve a problem, and they use Facebook to browse pages and hang out with their friends.This means that instead of researching ‘keywords’ as with AdWords, you’re going to be focusing on descriptive terms that people are using to describe themselves, their interests, and their hobbies.And, because there is less competition for advertisers on Facebook, generally the cost per click is lower than using AdWords.Facebook Ads = Lower CPC + Higher Quality TrafficWhat Types of Ads I Can Run on Facebook?Standard ads or sponsored stories.Standard AdsThese are the regular ads you see in the right sidebar of Facebook. The main components of the standard ad are:Headline
LinkAs an advertiser, you decide exactly what you want the ad to look like and to say.Sponsored StoriesSponsored stories turn users’ actions into paid ads in the right sidebar.When someone interacts with your business on Facebook, you, as an advertiser, can turn this social action into a paid ad. This is a great way to leverage the power of social media and online word or mouth marketing.Who Will See My Facebook Ad?This is perhaps the BEST aspect of Facebook ads. The answer is: Pretty much anyone you want!Facebook allows you to target your ideal client or customer and advertise directly to them. You can target to users based on:Age (and even birthday)
Interests and hobbies
Education leveland much more.Once you select which targeting options you’d like, Facebook will deliver your ads directly to users meeting your criteria.What are My Payment Options for Facebook Advertising?As with many other online advertising options, you can choose between CPC (cost per click) or CPM (cost per thousand impressions).If you are mainly interested in users actually clicking through to your site or page, you’ll probably want to go with CPC. This option allows you to indicate the maximum amount you’ll pay for each click- through you get.However if you’re more interested in getting your brand out there and just having your ad seen by as many eyes as possible, CPM can be a good choice. This option allows you to indicate how much you’re willing to pay for 1000 people viewing your ad.*Note: This is one of the most important decisions you’ll make when it comes to Facebook advertising.I hope this has helped answer a few questions you may have about how Facebook ads work.