If you own a small to medium-sized business and are looking to scale, or if you are going through a quiet period, you may want to consider running Facebook ads. If set up properly, they can be a significant revenue generating investment for your business.

Facebook ads are like your business's friendly sidekick. They help you target your ideal customers, get the word out about your brand, drive website traffic and ultimately boost sales and growth.

With that said, here are 5 tips you should keep in mind when setting up Facebook ads for your business! 👊

1. Know your target audience

Before making the ads themselves you need to identify your target audience. A fast and easy way to do this is to write out your ICP (Ideal Customer Profile). This should include things such as age, gender, location, income, what interests they may have, where they get their information from etc. Knowing your audience will come to be very useful when creating your ad copy or image/video as you will know better what language to use to grab their attention.

2. Use high quality images/video

It's important when creating your ads that you should use high quality images or videos. They are the first thing users will look at. If they are blurry or of bad quality users may disregard it and continue scrolling. A good quality image or video will capture attention, convey professionalism and create a positive impression.

Another reason why this is so important is because it will help build trust and credibility with potential customers, which means your ads are more likely to be successful.

3. What ads are competitors running?

One thing you should be doing before creating your ads is to scout out your competitors to see what kind of ads they are running, if any. Its good to know what kinds of offers/discounts they are putting in their ads as this will allow you to ensure that you aren't doing the exact same thing as them. You want to be unique and stand out from the crowd. How can you differentiate yourself from all the other brands out there?

You can check ads being ran by other business's by going to the Facebook ads library (https://www.facebook.com/ads/library). Simply select your country, your ad category and enter what you are searching for. For example, if you are a kitchen and bathroom company, search for "kitchens and bathrooms" or search for them separately.

4. Set a marketing budget for the month

By establishing a marketing budget, you can maintain control over advertising costs. This will help to prevent overspending and allows you to allocate resources based on what your business can afford.

You will also be able to conduct an ROI analysis. This is essentially comparing the amount you spent on your ads with the amount of revenue generated from them. By doing this you are assessing the efficiency and profitability of your ad campaign which will allow you to make more informed decisions, since they will be based on data.

5. Check performance of your ads

After you have set up and launched your ads it is vital to monitor them and analyse their performance. You can do this by looking at the Key Performance Indicators(KPI). The most important indicators are click-through rate(CTR), conversion rate, cost per click(CPC), cost per conversion(CRA), return on ad spend(ROAS) and impressions. There are others that you can track but these are the main ones. These can be seen in the ads manager within the Meta business suite.

If you are looking to scale your business or are struggling to find customers, Facebook ads are definitely worth a shot and these 5 things will keep you on track for success. However, if you have the budget for it then it's best to pay someone (who specialises in running and optimising Facebook ad campaigns) to run them for you, which could save you a lot of time and money in the long run.

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