Facebook is the social media Juggernaut! Facebook is by far the largest social media channel and the prowess of it ads to target hyper-specific audiences is staggering to the mind. Facebook is the leading social platform, reaching 60.6 percent of internet users, and an astonishing 2.45 billion monthly active users. It also has 1.62 billion users that are visiting the social networking site on a daily basis. Advertising on Facebook is a perfect match for crowdfunding! If you aren’t running Facebook ads for your crowdfunding campaign, you’re leaving money in the form of backers on the table. Here are some of the tactics that we use with Facebook to build our email list.
Create a Custom Audience
Getting to know who your customers are is a crucial step for a successful Facebook Ads for your crowdfunding campaign. Facebook has over 1 billion+ daily active users, which is astronomical on its own, but your target backer is on Facebook, so how do you find them and create sales copy to excite and engage them? It’s absolutely critical that you target only those who are potentially interested in your product and also those that are familiar with crowdfunding and how it works. Remember that any audiences that are not likely to convert for you is a waste of your advertising dollar. Creating a custom audience will go a long way when running advertisements for your campaign, and will have the greatest ROI for your ad spend.
Facebook Audience Types
To understand the wide range of targeting options that come with Facebook ads, let’s start from the basics.Each of these audience types gives you plenty of additional options for creating the perfect target audience for your Facebook campaigns. Facebook has three primary audience types:
- Saved Audiences
- Custom Audiences
- Lookalike Audiences
Facebook has the ability to unleash some of the most powerful targeting tools on the market that targets billions of people globally. One campaign I ran for a board game we targeted only countries where cricket is played and very popular. We were able to create a custom audience that funded the board game project without targeting any people from the US. This is a real life example of the power of Facebook ads to target an extremely specific global audience. Facebook allows you to target by:
Facebook Custom Audiences
Facebook Custom Audiences are probably your most high-value target audiences as they allow you to retarget past website visitors and people who have engaged with your content. There are multiple ways to create a Custom Audience and the power of these custom audiences is simply staggering. Creating a custom audience from your email lists make the most sense these people are already engaging with your content and have a strong enough relationship to have traded their email address to you. Website traffic-based Facebook audiences allow you to create remarketing campaigns for people who have engaged with your website. These are high-value audiences as the users seeing your ads have already shown some interest in it. The latest addition to these immensely powerful tools is the ability to target anyone that has engaged with your Facebook Page with a page like, viewed a video, or liked a page post.
Facebook Lookalike Audiences
Facebook Lookalike Audiences allow you reach the people who are similar to your existing customer database – making them highly likely to convert as well. To create a Lookalike Audience, you first need to create a Custom Audience to tell Facebook what type of users you want to reach. Next, select the “Lookalike Audience” from the audience creation menu and select a target country and a percentage (1%-10%) of the targeted country’s Facebook users. The percentage signifies the people most similar to your selected Custom Audience.
Facebook must be a vital component of your crowdfunding marketing strategy and knowing how to use this immensely powerful tool is a must. We will continue with this series of blog posts that teach us how to use the powerful Facebook targeting tools to target your best audience and get the highest ROI for your ad dollar. If you want to learn more about how to run a successful crowdfunding campaign and grab your FREE eBook “The Crowdfunding Essentials” please visit ProjectCrowd.co!