Facebook marketing is not a silver bullet to increase sales. Products that are not achieving significant sales will not do well on Facebook because Facebook simply reflects what is happening in the market place. However, if you are achieving reasonable sales already, then Facebook will add another string to your bow. Done correctly, Facebook will bring you many new customers.
Success in marketing comes from having products that people want, rather than products they need. Before you begin thinking about a marketing budget start by exploring the market first, to see if your product or service will be welcomed by consumers. A good test is to see if it is easy to give away. If consumers are reluctant to accept your product or service for free, then it will be difficult to find those willing to pay for it. Instead of offering me a free diet, offer me healthy food that I would love to eat. Offer smokers a nicotine-free cigarette.
If you have a product or service that has been slow to sell, then start by doing serious market research in what people really want in that field. Don’t ask your friends because they try to be encouraging. Search the internet for other solutions to the need that you are trying to satisfy. Look at what your competitors are doing and what they are offering. In-depth research always comes before marketing spend.
The two key elements of Facebook marketing are having a good website and being able to give away free product. Facebook advertisers who run competitions for free product gain a sizeable following. People know that companies are giving away their product in exchange for email addresses, therefore your giveaway must be of sufficient worth to entice people to send their contact info. In today’s market, you really need to be thinking in terms of at least $300 to $500 value. This range is needed to motivate people enough to take the time to complete your entry form.
The money spent in gaining a list of prospects is well worth it because you will create a list of followers to whom you can market a special offer, every month. Ask yourself, what is one client worth to you in a year. The answer to this question will prove the worth of the money spent on free offers.
It’s as simple as that: run competitions – make special offers. Businesses who are doing this well are doubling their turnover.