You did it. Following the strategy we set out last week, you managed to release $7 from your white-knuckled hands, now fully acknowledging the uncomfortable fact that you have paid money into what has hitherto been a free service to you (Facebook).
But it wasn’t really so bad, was it? So what do we do now?
First lets see what Facebook says. I promoted the post promoting my post about promoting posts. According to Facebook 31% of the views were regular views. These are views people would have seen anyways without paying to promote it. Inversely 69% of the views are paid views, meaning people who would not have seen it had you or I not paid to promote it. Thus they boast a grand total of a 3.2x improvement.
Now here is a dirty little secret: They are using percentages because the numbers are low. When I promote a post for a client that gets 10,001 extra views, you’d better believe Facebook is saying “Hey look, you got 10,001 extra views!” Saying they more than doubled my exposure sounds better than saying “Hey, ten extra people saw your post.”
I wish they did though, because if the potential revenue from each of those ten people were $1,000 and my post turned over one conversion, I would be pretty happy to pay the $7! That’s why I said in my previous post you need to put a value on conversions (people that turn into customers). We could look at the exact same numbers but what may be inadequate for me may be excellent for you depending on your market.
Since Facebook won’t actually tell me, that is why we use services like Bit.ly or Google Analytics. In this case I used the latter, clicking on Traffic Sources/Social Media, to see that in the previous day I got x number of visits from Facebook. It’s crude, but I can safely assume that 60% of those clicks were the result of the money I paid.
There is a lot of other things we can do to measure success. For instance if you linked to your business page you can look at the page insignts, and it will show you how many new “likes” were the result of what you paid. You could even do fancy things like set up goals in Google Analytics to track if Facebook resulted in actual sales (if that is your goal).
Later we’re going to run an actual ad and an offer on Facebook, and that will provide you with massive amounts of information. Post promotion is a simple creature. It’s up to you to decide if it’s is worthwhile, but regardless $7 is a very tame amount of investment to experiment with. It’s then up to each of us to decide if it’s worth it.
If you have any specific questions on how to apply this to your own situation, feel free to comment. I’ll do my best to answer.