In a similar fashion to email opt-ins and remarketing pixels, Facebook Page Likes can most definitely generate revenue. The question isn’t do they, the question is how do they?
Many experienced advertisers would agree that gaining a prospect’s opt-in and adding them to your email list is a valuable action for users to take on your website. Now that you have their email address, you can continually send content to their inbox that ushers them through the buying cycle until they ultimately take the buying action you wanted them to take all along. Acquiring that email address allowed you to create a user experience that fostered the completion of a sale.
The same value exists in remarketing campaigns. Users complete an action, view content, or visit specific pages on your site that demonstrates they are interested in what you have to offer and you follow up that interest with remarketing ads in search results and on display networks. Take these same email and remarketing concepts and you can adapt them for a sound strategy for Facebook Ads. If you want to dive deeper into strategy creation, download our free guide that includes 1060+ taxonomy targeting options for Facebook Ads.
Using Page Likes in Facebook Ads Targeting
The potency of Facebook Likes has been on the decline in the past couple years largely because of decreases in organic post reach. It’s possible your organic posts are reaching less than 2% of the audience who Liked your page! Needless to say, if you hope to turn Likes into revenue, you’re going to want to use advanced connection targeting options in Facebook Ads to do it.
Note that the information box advises you to only use these settings to target people connected to your page, app or event which is exactly how you target users who have Liked your page. You can now use your Facebooks Ads campaign to target these users again with content and promotions that lead to revenue for your business. Facebook provides ad types specifically designed to be shareable by your existing customers and attract new ones. Ads created as Facebook Offers, for example, are a great way for businesses to maximize lifetime customer value and extend a discount redeemable online or in your store. Any ad type you choose is measurable, so you can clearly connect your Facebook Ads campaign built from Likes to the revenue it generates.
Facebook released interesting data last year to show the significance of reaching people on mobile devices and the impact that reach has on cross-device conversions.
Facebook’s data essentially shows that while users will display interest on their mobile device, perhaps in the form of a Like, they are more likely to complete a conversion on a separate device, such as a tablet or desktop. According to Facebook, the number of users who started their buying cycle on mobile and ultimately purchased on desktop was as high as 32%. The data clearly shows that engagement in the form of a Like on mobile can certainly contribute to your revenue in the form of a desktop purchase.
Improving Facebook Ads Performance
Diversifying your Facebook Ads strategy to include ads targeted to users who have Liked your page definitely provides potential to increase revenue. Be sure not to consider your Facebook campaign a success simply because you generated Likes, but run tests to understand the value of those Page Likes to your business:
- Dive into comments from users on your targeted ads.
- Use comments as a source of feedback to determine what offers resonate with your customers and which ones miss the mark.
- Analyze metrics like click-through-rate and conversion rate.
- Determine what types of ad posts generate the most engagement from your audience and use that information to shape future ad content and offers.
You’ll want to regularly check your audience insights to find out who is responding to your ads in the form of a Like. This helps narrow your targeting to the people who are the most likely to complete a revenue generating action for your business. You can also use the information to test new targeting groups based on demographics like age and gender, interests, and purchase behaviors of people who have engaged with your ads.
It stands to benefit your business to use Likes as a resource for optimizing your overall Facebook strategy to maximize cost-effectiveness and revenue generation. Or you can simply use Likes as a list for your remarketing efforts. In either scenario, you give yourself a better chance to generate revenue than if you make the mistake of thinking that Likes have no value.
Want to Learn More?
Ready to craft a solid Facebook Ads strategy? We created a free guide to help you get started. Plus, we’ve put together the 1,060+ targeting options available to you in a comprehensive taxonomy list that exists nowhere else. Get it now to start converting Likes to revenue.