The Ultimate Guide To Planning Your Social Media Marketing Plan in 2023
- Matthew K.
- Jan 5, 2023
- 8 min read
As we look forward to 2023, planning your Paid Social Media marketing budget can seem daunting.
Here are 5 quick points to keep in mind as you plan for 2023.
1. Set Clear And Concise Goals Based On Growth Or Profitability
Setting goals is an important first step in planning your Facebook ad campaigns. When it comes to setting goals, it's important to consider whether you want to focus on growth or profitability.
If your goal is to grow your business, you may want to allocate a larger budget toward Facebook ads to reach a wider audience and drive more traffic and leads.
On the other hand, if your goal is to maximize profitability, you may want to focus on targeting a more specific audience and optimizing your ad spend to drive conversions at a lower cost.
By setting clear goals based on your desired focus, you can create an effective ad campaign that helps you achieve your business objectives.
High-Level View On How Facebook Can Help You Achieve Your Campaign Objectives
There are several common objectives to achieve with your Facebook ads.
For example, if you want to drive website traffic, you would choose the traffic campaign objective
Alternatively, you may be more interested in increasing brand awareness, in which case you'll want to create ads that will be seen by as many people as possible. For this, you would choose the awareness campaign.
Another common goal is to generate leads, which means that you'll want to create ads that will encourage people to sign up for your email list or make a purchase. Choose the lead objective.
To achieve any of these campaign objectives, you'll need to create ads that communicate the value of your product or service and make it easy for people to take action.
Regardless of what your goals are, it's important to keep in mind that different types of ads will be more effective for achieving different goals.
For example, if you're focused on driving website traffic or awareness, you may want to consider the ad format you choose. Carousel ads or collection ads are good options, as these types of Facebook ads, are designed to show multiple products and give you a higher chance of increasing your click-through rate.
If you're more interested in driving sales, you may want to consider using single image/video ads as these types of Facebook ads can focus on one product/message to convert your audience.
By setting clear goals and choosing the right Facebook ad format, you can get the most out of your ad budget and achieve the results you're looking for.
2. Know Your Audience On Each Social Media Platform
Knowing your audience is an essential aspect of successful Facebook advertising. By understanding who your target audience is and what they are interested in, you can create more targeted ads and get better results for your budget.
This doesn't mean you need to do an in-depth analysis of each platform.
Just knowing general behavioral actions your potential audience will take can help. To get you started here is generally what you can expect from the major social media platforms. Keep in mind you will want to do your research to understand how your audience behaves on the platform.
Get To Know Your Audience: 5 Social Media Platforms And How Users Behave
Facebook - Consider What Your Followers Are Posting
Facebook is a social networking platform that allows users to connect with friends and family, share photos and updates, and join groups and events. It is typically used for more personal and casual communication, with a focus on connecting with people you already know.
When creating content for Facebook, find what your followers are posting and attempt to have your content match theirs in the Facebook news feed. Not appearing as a Facebook ad can help build a following and engagement.
Instagram - Make Sure Your Content Is Well Produced
Instagram is a photo and video-sharing platform that allows users to share their visual content with their followers. It is often used for sharing personal photos and updates, as well as for promoting brands and businesses.
With Instagram, you will want to have well-shot images and videos to drive conversions.
Tik Tok - Tell A Story And Captivate
TikTok is a social media platform that allows users to create and share short video content. It is particularly popular with younger users and is often used for creating and sharing lip-sync, dance, and comedy videos.
Unlike with Instagram, your Tik Tok videos do not need to be as well shot and choreographed. If you decide to start using Tik Tok be sure to put your story front and center.
Twitter - Keep Your Followers Up To Date With New That Is Related To Your Business
Twitter is a microblogging platform that allows users to share short messages, or "tweets," with their followers. It is often used for news and information sharing, as well as for networking and connecting with others in professional or industry-specific communities.
Use Twitter to share updates on your business and new topics of interest to your followers. Are you a thought leader? Bring up issues that are relevant and important to your target audience.
Pinterest - Drive Brand Awareness & Reach
Pinterest is a visual bookmarking platform that allows users to discover and save ideas for various projects, hobbies, and interests. It is often used as a source of inspiration and as a tool for planning and organizing.
Because it is used to discover and save ideas. Pinterest is an excellent platform for running brand awareness or traffic campaigns well ahead of a coming promotion.
Consider Demographics When Looking At Your Target Audience
Demographics such as age, location, and interests can all play a role in how effective your ads will be.
For example, if you're targeting a younger audience, you may want to use different language and imagery in your ads than you would for an older audience.
Similarly, if you're targeting a specific geographic location, you may want to use language and imagery that resonates with people in that area.
In addition to demographics, it's also important to consider what types of content your audience engages with most. Are they more likely to respond to text-based ads or visual ads?
Do they prefer short, snappy headlines or more detailed, informative copy? By understanding what types of content your audience responds to, you can create ads that are more likely to capture their attention and drive the desired response.
3. Good: What Is Your Budget? Better: What Is Your Revenue Goal?
Determining your budget for Facebook ads is a crucial step in the planning process and it doesn't need to be complicated.
The only formula you need is:
Visitors X AOV X Conversion Rate = Revenue
How many visitors do you need to get to your site at what conversion rate and having an average order value of X to reach your revenue goal?
If you are using Google Analytics you may even want to break it down further and use the formula for your major traffic drivers, like say Facebook or or other paid media channels. More on this below...
After you have the total number of visitors needed. Dive into your Facebook business manager and open your Facebook Ads Manager.
By stretching out your date range to the entire 2022 year you should be able to see the CPC this is the average cost per click to drive a visitor to your site from Facebook.
Facebook Formula Example
Let's say that you have a CPC of 1.50 and you are thinking of spending 3000 per month on Facebook ads.
This would drive 2000 visitors to your site.
If your AOV is 50
Your CR is a healthy 3%
Then your expected revenue is 2000 X 50 X .03% = $3000
Note: This is the minimum that you should be spending if you want to see meaningful results. You also want to condense your Facebook ad structure into as few campaigns as possible to get the best results. To learn more about setting up your Facebook ad account for success you can read our post.
Use Lifetime Value To Determine Success
Finally, consider the lifetime value of a customer.
This is the total amount of money that a customer is expected to spend on your products or services throughout their relationship with your business.
If a customer has a high lifetime value, it may be worth investing more in ads to acquire them as a customer.
4. Test Different Ad Formats, Ad Placements, Images, And Copy
Test, test, test. What worked today may not work tomorrow and what didn't work may work tomorrow.
Use Different Ad Formats With Different Ad Placements
If ad formats and ad placements sound foreign to you, no worries, we've got you covered.
Facebook ad formats are:
Lead generation ads
Carousel ads
Collection ads
Video Ads
These ad formats can be used to target different ad placements such as the Facebook Feed, Instagram Feeds, Marketplace, Instant Articles, and even the Facebook Audience Network (third-party mobile apps).
Experimenting with different ad formats and targeting options is an important step in maximizing the effectiveness of your Facebook ad campaigns.
By testing different combinations, you can identify the ad format and targeting options that work best for your business and target audience.
Test Facebook Ad Copy
As you move forward with testing consider testing different ad copy.
Ad copy refers to the written content of your ad, including the headline, body copy, and call to action.
Experimenting with different messaging and calls to action can help you determine what resonates most with your audience and drives the desired action.
Test Facebook Ad Creative
Another option is testing different ad creatives in your Facebook ads.
The visual element of your ad is an important factor in catching the attention of your audience and encouraging them to take action. Try using a variety of images to see which ones perform the best.
Keep in mind that it's important to test and optimize your ad campaigns over time.
Facebook's algorithms are constantly evolving, and what works today may not necessarily work tomorrow.
This is why it's important to stay up-to-date with the latest ad formats and targeting options and to continually test and optimize your campaigns to achieve the best results.
5. Track Important Metrics To Measure And Optimize Your Performance
Monitoring and analyzing the results of your Facebook ads is an essential part of the optimization process.
To effectively monitor and analyze the results of your Facebook ads, it's important to use tools like the Facebook Ads Manager.
The Ads Manager provides detailed analytics and insights into the performance of your ad campaigns, including metrics like visitors, conversion rate, and cost per click.
By regularly reviewing this data, you can optimize your ad campaigns and improve their effectiveness over time.
Another way to measure results is through Google Analytics.
Looking at Google analytics we are going to go to our source/medium report and look at the breakdown by channel.
To this go to Acquisition -> All Traffic -> Source/Medium
Keep in mind that your Google Analytics account will show different numbers than your Facebook ad platform.
When looking at your revenue numbers use Google Analytics, this will help avoid double counting your revenue if you are advertising on multiple platforms.
When looking at cost data look at the ad platform, this is where you are being billed and the cost for reach and clicks will be accurate.
Finally, it is also important to track the cost per result.
This metric measures the cost of your ad relative to the number of conversions it generates.
By tracking your cost per result, you can determine the efficiency of your ad spend and compare it to your LTV.
If you are seeing a cost per result higher than your 60, 90, or 120 LTV consider cutting back your spending if you are going for profitability.
Start Planning Today And Scale Your Online Business
Planning your Facebook ad campaigns involves:
Setting clear goals
Understanding your target audience
Determining your budget
Testing your ads
And regularly monitoring and analyzing your results
By following these steps and using tools like the Facebook Ads Manager, you can create effective ad campaigns that drive measurable results for your business.
For those looking for more information on scaling your Facebook ad campaigns, you can read our blog post on scaling your Facebook ad campaigns. In this post, we cover the 3 areas of focus when scaling your Facebook ad campaign as well as the perfect ad structure for your next Facebook ad campaign.
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