Author of the article: Marina Kalinkina, targetologist
We asked Marina six questions about targeted advertising with small budgets.
Is it worth a business that does not yet have a website but has social networks to launch targeted advertising? Or is it better to elect other types of advertising at the start?
If a business has several services or a small number of products, you can sell without a website. For that, goals such as Lead Generation, Messages, Engagement, and Traffic will work. In any case, a business needs testing since everything is individual for each niche, and you need to understand whether the advertising budget will pay off your profit.
Without a website, it is significant to consider that a purchase is impossible without interaction with a manager; and communication with a client – by phone or in private messages. Without a website, there will be a very short sales funnel, and it will not be possible to show a large number of product characteristics.
How to maintain social media if the business does not have money for an SMM specialist?
1. First, you need to do a deep analysis of the niche, competitors, target audience.
We should highlight:
- brand positioning in social media (what is your platform about?);
- goal and KPI;
- target audience (clear segmentation, problems, insights);
- one or two social networks that fit your niche and that your audience prefers.
2. Based on this, form an SMM strategy according to which the project will confidently go towards conquering the peaks, that is, towards achieving the set goals.
3. Social networks are about consistency and regularity, so create a content publishing plan (6-12 posts per month). Do not think that you will be able to write something every day, so set aside time for this, and you can schedule posts in special services (for example, Smmplanner).
4. Track comments and remove customer objections on social media.
5. Be sure to post stories and start live broadcasts. They are very effective in influencing audience reach.
6. Be sure to check Facebook Business Help Center or sign up for targeted advertising courses before launching targeted ads.
7. Do not evaluate the effectiveness of social networks in likes and subscriptions; focus on more valuable indicators (purchases, visits to the site, requests to private messages);
8. And, most importantly, be prepared to spend a lot of resources on training and additional work that could be delegated to an SMM specialist.
What is the low advertising budget in your personal opinion? Why?
For me, a small budget is the minimum efficient budget required for a month. It can be determined based on the goals of the target. For example, if a business needs to promote only an Instagram page and reach a new audience, promoting Instagram feed posts is fine for this purpose. In this case, it is worth allocating $ 6-9 per publication for two or three days, that is, $ 3 per day. There can be 6-12 such publications per month. Then for a month, the minimum required is from $ 36 to $ 108.
If there are additional goals (traffic to the site, lead generation, etc.), the minimum efficient budget is $ 5 per day per group, taking into account that it is necessary to receive about 50 conversions per week for the Facebook system to be able to carry out optimization;
Each project should be considered separately, taking into account the tasks, audience, product, etc. There is no minimum budget that suits everyone.
Do you work with small target budgets in an agency? Does it work? What do you focus on, and what do you throw aside?
Yes, I work with small target budgets in an agency.
Small budgets 100% work for:
- High demand goods (seasonality, something new, and everyone wants it right away);
- Emotional merchandise. Emotions are essential on social media. Anything that evokes emotions and WOW effect is selling. And if it is also inexpensive, it sells well. The main thing is for the manager to respond quickly to Direct messages. Ideally, they answer within 15 minutes.
- Hot selling goods. TOP products for which people are asking. That means that the emphasis on them in sales and advertising.
- Trends. Here you can spy on what bloggers are advertising.
In my experience, small budgets are ineffective in B2B and large online stores.
What are your TOP targeting tools for businesses with a small advertising budget?
1. Facebook Ads Library. A free service from Facebook that allows you to view active ads from competitors. Must-have for analyzing the advertising activity of competitors and finding ideas for creatives.
2. Facebook Pixel. Using the Facebook Pixel allows you to set up additional targeting audiences, collect remarketing audiences and find extra audiences, and track website conversions;
Facebook Pixel is easy to install on the site – using Google Tag Manager or directly into the site code and starts working in a few minutes.
3. Dynamic remarketing. It is cheaper than regular Facebook ads because it targets people who have already viewed products.
4. Narrowing audiences. The function is helpful because, with a minimum budget, it is essential to set up the most accurate audience by interests and reach people who fit several criteria at once. This tool will allow you to select those who meet all the conditions at the same time.
5. Excluding audiences. This tool comes in handy to avoid showing ads to audiences who already interacted with ads or users who have already converted. It will allow you to get growth of unique reach and reduce the cost of conversions since you do not have to spend money on clicks that do not convert.
6. Use of geolocations. A helpful tool for local campaigns to reach specific points where your target audience may be.
7. Look-alike or similar audiences. With this tool, you can reach people with similar characteristics to existing customers or users interacting with the page and site.
What free or shareware promotion channels can you recommend for a business with a small budget?
Creation of communities, groups, channels of interest. We should invite the target audience of the business and their friends, which will indirectly affect the fame, the growth in demand for your services and products.
Run contests with prizes – free provision of services or goods as a gift to the winners. Competitions drive the growth of subscribers, engagement, and sales.
Barter with microbloggers. Microbloggers with a small audience are much more attentive to their content than popular channels. Thanks to a personalized approach, they more engage the audience and drive sales.
Smart spam in thematic publics and communities. Attract new potential customers through comments in thematic publics and communities, exchanging links with them on your pages and site.
Attracting an audience from TikTok. One viral video can generate thousands of new subscribers and sales.
Custom non-spam direct mailing to your subscribers. Subscribers are already familiar with your business, which means they are loyal and disposed to buy. You need to correctly and natively remind yourself to stimulate the sale.
Geotags and affiliate content. With their help, you can increase the reach of posts.