06 Feb Budget Facebook Fan Acquisition
Despite the recent drop in the organic reach of Facebook posts, there is still no debate surrounding the high value of building a network of highly targeted Facebook fans. Developing a relationship with fans, promoting calls-to-action, and using engaging content to reach the “friend of the fan” are all more effective if the base fans are highly relevant to the brand.
Wine Logic manufactures and sells premium, in-cabinet wine racks and partnered with us to ?get likes.? As we explained, all ?likes? are not created equal, and we?d be seeking users in an age group prone to be homeowners and that who been identified by Facebook to have an interest in wine related topics. Of course, this is our best approximation of a probable consumer.
Further qualifying our demographic, we used an incentive that would only be of interest to a high potential customer, an entry in a free wine rack giveaway in exchange for a ?like.? To complete the entry, a user must also enter an email address that will later be used to reach out for conversions on another channel.
For this contest, we created around 30 different ads with varying images, headlines, and copy. We ran extensive split testing to determine which ads would result in the lowest cost per fan, as our provided budget for the campaign was relatively small. According to a Wall Street Journal article (the least salesy study I found), the average fan is acquired for $1.07. Using this strategy, we were able to acquire around 5000 pre-qualified fans for around $.10 per ?like.?
1.) Identify a buyer persona and use Facebook?s Ads Manager or Power Editor to create a targeted audience.
2.) Strategize an incentive that will further identify your fans as potential consumers.
3.) Create at least 20 different ads with a variety of messaging styles to split test and spend efficiently.
4.)Monitor, repeat, and nurture your fans with great content.
If you need help walking through creating ads in more detail, download the eBook found in the right margin, or request a free consultation from a member of the Drive team. Happy Facebooking!