Building Your Facebook Ad Audiences

Facebook is a powerful way to reach your audience. However, you have to know how to find your audience. Join us in our Mastermind Group as we share some of the audiences that we use and the goals we have for testing our new audiences.

If we're all being honest, as TpTers running Facebook ads can be a little frustrating because we are limited in what we can do. We can't run conversion ads and we can't see all the data that we'd like to see. However, there are still plenty of ways that we can be successful with Facebook ads. The key is creating the right audiences.

We aren't claiming to be Facebook experts here, but we're going to share with you what we have found has worked the best for us along with what we look for when creating new audiences for our Facebook marketing efforts.
A few terms to know
Before we jump into our tips we want to address a few terms we're going to use.  This might be stuff that you already know but  I want to clear up a few key terms we are going to talk about just in case anyone is unfamiliar with them.

Cold audience = People that don't know who you are and have never heard your name.
Warm audience = People that have heard of you and maybe even interacted with your store or social media accounts.
Look-alike audience = An audience you create to match a warm or hot audience that you already have. The advantage of this is it creates a cold audience that has a better chance of being interested in what you have to offer.

What to do before focusing on ads
Before focusing on getting people to come to your store make sure your store is ready for an audience. Make sure you have really good descriptions along with quality photos.
How much should we be spending on ads?
Before we jump into the actual dollar amounts of what to spend on an ad I want to address the way you think about this budget. When your budget is tight it can be hard to think about spending $20 on a Facebook ad. But, instead of thinking this as just an expense you need to think about it as an investment. If you spend $20 but end up making $40 then you're not losing any money. You might not get that money back until the following money, but running ads is an effective way to increase your reach and grow your business.

When I first started running ads, I was doing it for small resources and I would set the budget for the same price as the resource. That way as long as I could sell one product I had made back the money I spent on the ad. Doing this allowed me to start testing out different ad components and audiences to see what worked and what didn't. Over time, I started to increase my budget a little at a time as I became more confident that I'll get more sales from the ads and audiences.

You also want to remember that it's not just about getting people to your store to buy that one resource you're advertising. Your ads are helping introduce you to a new audience. That means even if they don't buy the resource the first time, or if you only break even on your ad, that new audience could continue to come to your store, sign up for your email list, or continue interacting with you in other ways. They may keep buying more resources in the future because they were able to find you from that one ad.
By the numbers
When it comes to cost-per-click the number I try to stick to really depends on the audience that I'm targeting. Overall, for a cold audience both April and I try to stay to no more than 15 cents per click. However, if I'm targeting the people that are on my email list, I'm willing to spend a little more because I know they are a warm audience.

Now, it's also important to know that the amount per click can depend on the day of the week also. For example, on Saturday the price might go up to 25 cents per click but then drop again during the weekdays.
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