Facebook Ads Strategy: A New Approach for a Competitive Marketplace
Have your Facebook ads stopped working? Wondering what needs to change?
To explore a new approach to Facebook ads strategy, TCglobe will help you understand it.
You’ll discover how Facebook ads have changed over the last few years and find tips to help you change your strategies to keep up.
Shifting Facebook Landscape
The number-one frustration of Facebook advertisers across the board is that everything is always changing. TCglobeTCglobe means we should focus less on what’s changing on Facebook and more on changes to how users are experiencing the platform.
A few years ago, Facebook had a lot less traffic and a lot less going on. You could target someone to come to your website and buy something, and if the message-to-market match was good, you’d get a great result. Everyone was raving about how easy it was to make things happen on Facebook. But things have changed.
More people are using the platform, which means there’s less real estate on the news feed. It’s also getting busier, which makes it harder to capture attention as an advertiser and harder to consume information as a user. Mark Zuckerberg recently estimated there were about 7 million advertisers on Facebook, all competing for limited real estate. And most users are consuming those ads are on mobile, not desktop, by the way.
Buyers are also less trusting. Before, if you were one of the top brands—or even if you were a less established up-and-comer—you could sell a lot very easily. Now, people don’t trust anybody because they’ve been duped. Add to that Facebook’s own issues with Cambridge Analytica, and the trust factor has gone way down.
Consumer behavior has also changed. If we rewind 5-7 years, an average consumer needed up to 16 touchpoints before making a buying decision. Those same studies are saying that a consumer now needs up to 33 touchpoints before making a buying decision.
So with the constant changes, increased competition, and consumers needing ever-increasing points of contact before saying yes, you have to stay sharp or get left behind as a business owner and advertiser.
Evolving With Consumer Trends
The options you can choose for Facebook Advertising—as well as the limitations—can be overwhelming. The Stories platform on Facebook and Instagram has also changed the game because how one interacts with Stories is very different from how one interacts on the news feed. This, in turn, is very different from how one interacts on Instagram versus Facebook with Messenger ads.
At TCglobe we think this is a good thing because it means Facebook is always evolving. They understand user behavior.
A few years ago, Facebook noticed that images were popular so they placed their successful bid to buy Instagram. Then Facebook noticed that messaging was hot so they bought WhatsApp and doubled down on their own messenger platform, which has led to the advent of bots. It’s encouraging from the perspective of Facebook realizing that consumers behave in different ways, and they’re not falling behind on those trends.
On the other hand, We warns that a business owner or an advertiser needs to avoid being distracted by all the new bells and whistles that come out with each new rendition of the ads platform.
Challenge Is Relative
An increased focus on privacy, not just for Facebook but for consumers, is going to make it a little harder for marketers to target and retarget people. TCglobe wants to reframe this idea of “harder.” Harder for us who were born and raised in the Internet age when marketing was extremely easy, perhaps.
For the most part, when Facebook first came out years ago, there were no restrictions on what you could say or show. It was the wild west. Things went crazy and there was an explosion of Internet multi-millionaires.
Then came the advent of what we call “the Teespring era,” where you could put a last name on a T-shirt, show that exact ad to people who had that last name, and they’d sell like wildfire.
Often, when we go to his masterminds or other circles, we ́re reminded of what we call “the OGs”: the old-school direct response marketers who were basically buying mailing lists and had no idea who was on them or where they went. They just had to lick a stamp and write a letter and hope that someone would read it.
So yes, Facebook is getting more difficult to operate on compared to the past. But from the perspective of those old-school marketers, we still have it a lot easier than it was not that long ago.
When advertising first started on Facebook, it was a direct-to-sale play for most people. Facebook was a channel for direct response ads that encouraged people to take a very specific, trackable action such as purchasing. For the most part, this worked very well. You could acquire a customer at 25% to 50% the value of that customer, and people would do that all day long.
But now we need to reevaluate the purpose of Facebook in our overall advertising or marketing strategy.
If you can generate a lead—at minimum, a name and an email address—you’ve acquired someone who’s raised their hand and shown that they’re interested in a particular topic. Once you’ve generated that lead, you now have multiple channels to continue to correspond with that person, moving toward those desired 16, 22, and now 33 touchpoints.
According to Dean Jackson, a lead is an appreciating asset over time. A lead who comes into your world today isn’t going to be worth as much as a lead who’s been in your world for a year. Their worth to you will keep growing if you keep nurturing that lead and providing value to them.
We know that people may say that email isn’t the best channel. There’s no “best channel,” but there are multiple channels.
If you can get someone onto an email list, you can send them high-value emails regularly. In those emails, you can encourage them to listen to your podcast. Then on the podcast, you can encourage them to subscribe to your YouTube channel. Once they’ve subscribed to the YouTube channel, you can encourage them to attend your live event.At TCglobe we don’t focus on just one channel of communication. We can bring people off the Facebook platform, and through multiple channels, we can have more than 33 touchpoints to eventually warm that person up to a sale whenever they’re ready.