Step-up Your B2B Marketing With Facebook
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One of the greatest advantages of Facebook is that any type of business can leverage it for their online marketing. We often hear the, “Facebook is not for B2B”, and love the opportunity to disprove this hearsay. There is no exception to that rule so long as you use Facebook’s features in the most effective way.
So if you’re still unsure how Facebook can be good for your SaaS marketing efforts, you have to test some of the latest features Facebook has released that are perfect for B2B marketers.
Audiences on Facebook
The Facebook audience is HUGE. With 1.44 billion active monthly Facebook users in the first quarter of 2015, no startup can afford to leave Facebook out of their online advertising.
Some SaaS products may not seem the most exciting offering on the market. However, no matter how ‘boring’ or mundane you may believe your product is, Facebook’s News Feed is the perfect arena to lure people with an advert, video or customer success story.
1. Custom Audiences
Facebook uses ‘Custom Audiences’ as a general name to describe a very strong set of capabilities to target specific audiences, whether they are already your customers, similar to your customers or potential customers.
The ‘Custom Audiences’ feature on Facebook is what allows advertisers to reach highly specific segments of their audience. It allows you to upload a customer database – say for example, subscribers to your company’s blog, and match their details to their Facebook profiles. You can then target them accordingly – cool right?
Remarketing is essential for SaaS lead generation.Convincing potential customers to leave their details usually takes more than just one (marketing) touch. By segmenting audiences and ads, Facebook allows you to retarget your potential customers according to their interest in different features of your startup. More importantly, you can target existing customers and show them a different feature of your software that may be of interest to them. For example, you can target users who were looking at your integrations list and left. You can then inform them of new integrations and hopefully entice them to schedule a demo with you.
Alternatively, you can show someone who has visited your pricing page and left a special time limited discount to encourage them to enter their credit card details or complete their details.
2. Lookalike Campaigns
This is by far the big prize with customer audiences. Since Facebook knows so much about us, it can actually find you new potential audiences to target, based on your existing clients! This is plainly called, Lookalike Campaigns. Facebook Lookalike Campaigns pretty much work exactly like it sounds. Having uploaded a customer database or defined a remarketing audience, creating a lookalike campaign allows you to use the ‘Ask Facebook’ to find potential customers and businesses with similar features to those in your database and advertise to them. It’s basically a great way of find companies who might be interested in your SaaS product and reaching out to them.
Want a real life Marketing Envy example?
In 2014, we ran a Facebook campaign aimed at targeting Wordpress developers. We started by targeting people who had stated that they are Wordpress developers on Facebook and other similar interests. The conversion cost was 20% lower than when we asked Facebook to bring us an audience that was similar to our existing clients. The reason is very interesting - Lookalikes is not just based on Facebook users’ interests and demography, it is also based on their activities online. In this case, Facebook targeted users who are more likely to convert on our client’s website which increased the conversion rate significantly!
TIP: Lookalikes can be created from the following audiences, so make sure you test each of them for optimal results:
- Visitors who did anything on your website (visited pages, submitted forms, etc…)
- People who have converted into your customers
- Any list you have of email addresses, phone numbers, user IDs from an application you have or phone IDs
- People who like your page
3. Carousel Advertising
Last year, Facebook introduced the carousel format to Facebook ads which allows advertisers to showcase multiple images and links in one ad. This feature has been quite successful since these ads drive 30-50% lower cost-per-conversion and 20-30% lower cost per click than single image ads.
Its success recently encouraged Facebook to incorporate it into mobile a few weeks ago which is great news as more and more Facebook users use Facebook mostly on their mobile phone. Also known as ‘multi-product ads’, this feature lets you run 3-5 images in a single ad’ unit, each with different click-through links and titles.
Originally meant for ecommerce businesses to showcase several products in one ad’, this is fantastic for advertising your SaaS product as it allows you to tell narrative and showcase a variety of features and pricing models in one ad’. Facebook will also automatically choose which feature to show first based on your target audience's preference!
4. Linking Videos
Videos are fantastic for SaaS products because it allows you to show your News feed how your product works in simple terms that is more exciting than just a blog post or company overview. People who have watched a video on your product are also more likely to convert into sales.
Your video could explain
- How you SaaS product works
- How it will benefit users
- Where it can be purchased
But it doesn’t even have to be that specific. Any video can work - a presentation, company event or meetup coverage are all great way to show off your business.
Up until recently, Facebook only allowed companies to advertise videos in order to encourage views on those videos, but this format did not help conversion at all. Facebook updated the ‘Page-Post-Link’ ad format to allow clickable ads with video. A user can watch a video and then click to be taken to the website and convert. For SaaS companies, which usually have more complicated products, showing a video before encouraging user to convert on your website could significantly increase conversion rates as users will land on your website with a clearer understanding of your product.
With an expectation of earning 14.27 billion dollars in advertising revenue in 2015, Facebook is far more than just a social media site. Facebook is constantly updating and we suggest all tech startups keep their eyes peeled for these changes. In the meantime, these are great techniques for you to implement. So why wait? Get started!