One of the most effective social media marketing methods implemented by forex trading businesses all over the globe is Facebook ads. Countless up-and-coming and startup businesses’ bread and butter is Facebook advertising. However, not all have the capacity to efficiently use this channel to reach more audience much more convert sales.
If you own a brand whose main target audiences are the UK consumers, you’re most likely using Facebook ads. But have you ever thought about how effective it is for your brand? Ask yourself: “Am I targeting the right consumers?” “Am I converting?”
The thing about Facebook ads is that setting up one is fairly straightforward and most times easy—but reaching your goals is another story. If you want your ads to target the right audience and to secure conversions your forex trading brand needs, continue reading.
Setting up a Facebook ad does not automatically ensure your brand better sales and more following; if you don’t plan things carefully, you will end up wasting time, money and effort. To avoid the common Facebook ad traps, by all means, avoid doing the following:
Targeting random audiences.Don’t do the ‘shotgun’ method in which you set your ads to target random people. You may think that doing this method will allow your brand to be discovered by new consumers but instead of making it work for your benefit, you’ll just end up putting your ads money into waste.What you want to do is to target the long-hanging fruits—which are people who know and interested in your brand. Let them know that your brand is alive and well; let them know about your new promotions and offerings; let them know that you are there.
Failing to funnel your audience.You may be on your way to getting the attention of the right segment but all will come to waste if you are using the wrong message. What you should do is to use the funnel method, a method that will let you divide your audience based on their customer journey.To do that, make sure that for your cold audience, let them know that you exist. For your warm audience, your top priority is to build a good customer-brand relationship; let them feel that you care. And for your hot audience, the way to go is to let them know about the products you are selling to engage them into buying.
Not captitalising on the ads that you’ve proven to work.If the video content that you recently published received hundreds of comments, reactions, and shares, might as well take advantage of the fact that your audiences like such content. It is a sin not to capitalise on the things that you know work.Use the data you have to know the pulse of your audience. If they like carousel ads, your safe bet is to create more of those ads. Your mantra should be: give them what they want.
Being too broad.When setting up your ad, don’t target the whole population because you’ll have little leverage in reaching to the right people. Remember this: less is more. Your ads should target a specific segment of the market. As we mentioned earlier, don’t use the ‘shotgun’ method; study your audience for you to know who to target.Use the Detailed Targeting tool as it is your best mate in attracting people of specific age, interests, and behaviour. The tool will allow you to narrow down the market, giving you more leverage in tapping the right people. If you brand sells women clothing, target people who are interested in women’s fashion; if you own a car parts store, target people who have cars.