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February 12, 2022

Facebook Ads: How To Make Money With Them

Running Facebook ads is one of the best ways to get your product or service in front of customers.

With Facebook ads, you can very easily target your ads to specific people based on their age, location, interests, and many other factors. The downside of Facebook ads is that they can be costly if you don't know what you are doing, so having an effective plan is key.

In this article, you will learn how to up your Facebook ads campaign in a way that will allow you to get more clicks on your ads at a lower cost, thereby increasing sales while making more money.

Whether you are trying to use Facebook ads for eCommerce or drive traffic to your website to sell more services, the following information will help you make money through Facebook ads. Let's get started.

Image Credit: http://gosalesandmarketing.com

How To Make Money With Facebook Ads

Did you know that 59% of the world's social networking population can be found on Facebook? With millions of active users, Facebook presents the perfect opportunity to reach your target audience. However, with so many marketers taking advantage of this, making your campaign stand out isn't easy.

Making money through Facebook ads is not easy, but it is possible. It takes time and patience to run successful campaigns, but following the proper steps can help you achieve your business goals.

In addition to making money, there are other benefits to consider. You can build better customer relationships, improve your brand awareness and get top-of-mind with potential customers.

To put it simply, Facebook ads allow you to target the right customers for your business. If executed correctly, you can harness its full potential and reap considerable rewards.

Picking The Right Target Audience

The main objective of a Facebook ad campaign is to get the attention of your target audience. When creating an ad, you can choose who will see your ad based on their age, location, and interests.

Choose the correct options under the 'Create Audience' section in your Facebook Business Manager to choose this information. This will bring up the relevant options to choose from.

For example, if your target audience is parents aged 25-35 who live in Australia, you can use this information to narrow down the audience that sees your ad.

You can also consider other factors when choosing your audience. These include relationship status, workplace, and educational background.

Moreover, you can also define your ad audience based on their interests. To do this, choose the 'Interests' option. You can then type any topic of interest to show your ad to people with that particular interest.

Image Credit: http://socialmediaexaminer.com

If you are looking for more specific audience targeting, Facebook also offers Custom Audiences. This allows you to upload a list of customers' email addresses, names, phone numbers, gender,  dates of birth, and more. With enough data, Facebook will match these contacts with their respective accounts.

You can also decide to let the Facebook advertising algorithm create a lookalike audience. This works by looking at what similar users to the ones you define are interested in and coming up with an ideal audience. The assumption is that if you manage to find people with the same interests, buying habits, demographics, and other data points as your ideal customers, this new set of people will also be interested in your product.

This is an excellent way to increase sales by expanding your target market further.

Vital Considerations When Setting Up Your Facebook ads

The following are a few tips to bear in mind when setting up your Facebook ads campaign:

Determining Your Business Goals

The Facebook Ad Manager allows you to keep track of your ad performance, giving you the option to set campaign objectives. These include website conversions, app installs, and video views.

Knowing what your business goals are is imperative to running a successful campaign. If your goal is to drive traffic to your website, you need to pick the right audience and create an ad that caters to this.

On the other hand, if you want users to install your game app, choosing an objective like 'App installs' will allow Facebook to optimize your ad for this.

Determine Your Ad Budget

When you manage ads, you are putting your money on the line. With this in mind, it is essential to be disciplined and remain within your budget at all times, even if you start seeing good results.

Your business manager will give you a clear idea of how much you have spent so far, also allowing you to set aside a separate budget for each objective. This is vital in keeping track of your performance.

Another vital tip is to set a maximum daily budget for each ad campaign you run. This will prevent Facebook from spending more than you can afford, even if you post ads and they are performing well.

Image Credit: http://business2community.com

When managing ads, knowing the minimum, average, and maximum cost per click (CPC) can help you understand your campaign better. This information is available next to the campaign objective, ad set, and ad type.

It's important to consider how many ads you run will be determined by your budget. The more money you are willing to spend on Facebook ads, the more ads you can run simultaneously.

The Importance Of A/B Testing In This Process

If you want to make money online while managing ads, be sure to split test your ad campaigns religiously. This is the only way to know which ads perform better than others.

Thanks to A/B testing, you can quickly determine which ad sets are successful and which ones are not. This makes it easier to focus your efforts on an ad set that is performing well while completely stopping others that aren’t quite working out.

The difference between success and failure often comes from stopping what doesn't work and doubling down on what does, and A/B split testing can help you find answers a lot faster.

Set Up Effective Facebook Ads

Facebook's ad platform is very flexible, allowing you to create unique ads for different marketing campaigns.

With so many ads types to work with, you can easily create one that matches your business goals. Let's look at some of these various types of ads you can go for.

Image Ads

Being the most well-known type of ad, this is also the easiest one to create. It's like an old-school banner ad that allows you to describe what your business does in a static image.

This type of ad can get messages across quickly, but it doesn't offer much versatility compared to other ads. However, if you need something straightforward, it will be the perfect choice for you.

Video Ads

If you have some video content or footage from a presentation related to your business, uploading it in the form of a Facebook ad is a great idea. People love watching videos on their News Feeds, so getting them interested in your product should be easy.

People use video ads because they are an excellent way of attracting attention. Videos are very versatile when compared with image ads. They can be used to show off your products or services and even promote blog posts through a screencast.

Poll Ads

This type of ad allows you to ask people questions or conduct market research, as it presents them with several options and prompts them to choose one. Facebook users often respond well to these ads because they want their opinions heard and taken into account.

While this type of ad doesn't do much in terms of selling something and driving traffic, polls can provide valuable data that can help you improve your business processes. This includes helping you understand what features customers want most from your product or service.

If you want to get responses from Facebook users, poll ads are a great choice.

Carousel Ads

An upgrade from the standard image ad allows you to include up to 10 images and links in one post. This is basically like creating a multi-page link ad that people can scroll through.

Image Credit: http://medium.com

This type of ad is very versatile, and it helps you attract more attention than regular image ads. However, carousel ads don't work as well as video or even poll ads when it comes to asking questions or helping you collect data.

Collection Ads

With collection ads, you can show multiple images or items in your product catalog, compared with the standard image ad, which only focuses on one at a time. Since these ads allow you to show off different products and services, they are trendy among retailers who want their entire inventory featured.

Lead Ads

This type of ad allows you to collect people's contact information in exchange for something useful, like a free ebook or similar.

This is an effective way of generating leads without spending too much on Facebook ads. Since you can quickly set up lead ads if you already have something to offer, the process of having them up and running is relatively straightforward.

Messenger Ads

Messenger ads are probably the most personal Facebook ad types you can use. They allow businesses to place ads inside people's Messenger apps, so they only have to click once before being taken to a webpage, landing page, or even an offer.

This is great because you don't have to bother people with advertisements that take them away from their News Feeds. Instead, you send them a message that requires their attention in a place that usually is reserved for friends and family.

With this in mind, Messenger ads are great for eCommerce websites and subscription services that want highly targeted leads.

Stories Ads

This type of ad requires you to have an Instagram account before publishing one. With Instagram stories being where most people spend a lot of social media time, this is quite a unique way of advertising a product or service.

Remember that stories are only relevant to the people who have followed your Instagram account. This means it won't be possible for you to attract new users with this type of ad unless they come across your profile.

Ways To Make Money Posting Ads On Facebook

Let's now consider the various ways you can make money with Facebook ads.

Work As A Freelance Digital Marketer

Small companies don't have the time or experience to create a successful advertising campaign. This means that they will always depend on digital marketers and advertising experts to do this for them.

Since all of the information you need to promote a business is available on the client's social media accounts, you will just have to log into their Facebook Business Manager and start working.

The truth is that if you know your way around Facebook ads, there are plenty of companies out there who will be willing to pay for your help. Some marketing agencies even prefer hiring freelancers instead of full-time employees since they appreciate the freedom this offers them.

As a digital marketer, generating profits from Facebook ads is essential. All you have to do is set up a business page and promote it through your social media accounts - you can even use Facebook ads to do this.

If you’re interested in becoming a freelance digital marketer, a typical day in this role includes tasks such as:

  • Setting up ad systems for businesses
  • Testing ads to see which ones generate the highest returns
  • Creating ads that appeal to people's emotions and make them click on them
  • Researching new audiences that might be interested in the client's product
  • Send emails to potential customers who might want to purchase through Facebook ads

This way, you will only ever work on projects that interest you. You can also choose what type of company you want to represent, making this job perfect for knowledgeable entrepreneurs.

Run Ads For Your Business

If you have a Facebook page for your business and want to make money from Facebook ads, your best bet is to promote it.

This ensures that those interested in what you’re offering get an update whenever you release a product or launch a promotion.

In addition, running retargeting ads will also encourage people who saw your ad and didn't visit your website or business page to complete the desired action.

Depending on how much you want to invest in the campaign, you might decide to target all of your followers or only a specific subset. For example, you might want to send an ad only to people who live in the same city as your business because this will make it easy for them to visit your physical store.

You can also use Facebook ads to generate leads, so many companies love this strategy. It doesn't matter whether your audience consists of potential clients, current customers, or other individuals who might be interested in your products - there’s an audience for every objective.

What you’d do here is create a lead magnet to promote through Facebook ads to generate brand awareness. This way, people will first know about your business and its offerings before purchasing. If they have gotten something valuable from what you shared on Facebook, chances are they will be more open to checking out your website and buying from you.

Be sure to keep your Facebook pages updated and interactive, so people will be more likely to click on your ads.

Work As A Virtual Assistant

Many Facebook groups allow you to offer your services as a virtual assistant and work from home.

While this is great, these Facebook groups are typically overcrowded with others offering the same types of services.

Image Credit: http://uschamber.com

If you want to take a shortcut and get more business, Facebook ads might be for you.

With Facebook ads, you can send paid traffic to your website’s landing page, which sells your virtual assistant services. You might have a form that collects people's names and email, so you can stay in touch with them as needed.

This way, people will see you as the authority when it comes to the service being offered and understand there is demand for what you offer. 

This strategy also allows you to choose which demographic you want to target when getting clientele.

What Do Virtual Assistants Really Do?

Virtual assistants offer their services to business owners and entrepreneurs who need help completing tasks. 

Usually, these people either don't have time or don't know how to do such tasks. 

These tasks can include anything from managing social media accounts to researching bookkeeping.

Since most virtual assistants offer their services remotely, business owners can often save money by hiring them instead of an in-house employee. This also allows the business owner to employ multiple specialized assistants as needed instead of committing to a full-time employee.

Virtual assistants typically charge by the hour, so it's essential to make sure that you're clear on what the business owner wants to be completed before starting the project. You can also negotiate a rate if you feel that your skills are worth more than they offer.

Use Facebook Ads To Blow Up Your Blog Traffic

Facebook can be a huge source of blog traffic if used correctly. You can use Facebook ads to drive paid traffic to your blog posts, increasing website visits and leads.

To get started, create a landing page for your blog post that offers readers something valuable in exchange for their contact information. This could be a free ebook, cheatsheet, or video course. Once the landing page is created, start running Facebook ads to it.

Make sure to target your ad to the correct audience and use images and videos that will capture people's attention. You should also test different headlines to see which one generates the most clicks.

If you sell products and services on your website, sending people to a landing page before asking for the sale lets you turn more Facebook viewers into customers.

Since most people won't immediately buy from you, offering a lead magnet to collect their contact information first is a great way to build trust and relationships with them.

Once they have received valuable information from your ad or blog post, they will be more likely to return to your website and make a purchase.

You can also use Facebook ads for affiliate marketing by sending paid traffic to an affiliate product offered on your blog. If you do so, be sure to use a landing page on your website (rather than sending traffic directly to the offer), as Facebook doesn't like sending people directly to promotional offers.

Conclusion

Facebook ads can be a great way to generate more business for your company. Whether by selling new products or marketing existing ones, Facebook ads can increase profits and bring you closer to financial freedom.

The benefits that Facebook ads provide are numerous. By applying the above information, you'll be on your way to joining the ranks of successful businesses that got their start with Facebook ads.

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Mike Vestil

About the Author

Mike Vestil is an author, investor, and speaker known for building a business from zero to $1.5 million in 12 months while traveling the world.

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