Facebook Boosts & Instagram Promoted Posts

Promoting music, conceptually, can be really simple. You expose your music to the public, if they like it, you win. The complexities arise from increasing the odds. You can have a million people looking to buy a car but they’re not all looking to buy the same kind of car. They may be looking for a Minivan, SUV, Sports car, Luxury car, etc. If you only sell one kind of car, you’ll have a harder time getting sales targeting everybody looking to buy a car, unless SUVs are the most popular cars and that’s what everyone is looking for.

If 90% of the people in the market for a car are looking for an SUV, there’s a 90% chance of you reaching someone interested in your product. Worldwide and even nationally, the buying trends aren’t identical. Densely populated areas can drive up the marketshare of a product that isn’t so popular in other areas. For instance, if Convertibles own 90% of the market in California, Texas, Florida, and New York it can look like SUVs are the most popular cars in the US. At the same, the most popular cars in Utah could be minivans, taking 90% of the market in the region.

Let’s say Minivans own 10% of the national car market. Targeting nationally, you’ll have only a 10% chance of reaching someone interested in buying a Minivan. Alternatively, you’ll have a 90% chance of reaching Minivan shoppers targeting Utah specifically.

The objective of advanced advertising is to increase the likelihood of success. Understanding the reasons for why a campaign succeeded can allow you to create a duplicable formula. That formula can be applied to future campaigns and used to improve your marketing performance overall.

With the Facebook Boost and the Instagram Promote button advertising options, your success is subject to what you already know. If you know you sell Minivans and Utah is the best place to go to sell Minivans, you’ll target Utah. If you don’t know that, then you’ll have to target nationally and let the algorithm figure it out.

Example:

Goal: 100 sales.
Facebook cost: $10 per 1,000 times your ad is shown
10% success rate means your ad must be shown 1,000 times to generate 100 sales costing you $10.

Goal: 100 sales.
Facebook cost: $10 per 1,000 times your ad is shown
90% success rate means your ad would only have to be shown 111 times to generate 100 sales costing you only $1.11


In both examples, you get 100 sales but the difference is in the cost and rate of success. What also factors into it is the overall popularity for the type of product you’re trying to sell. If you were pushing a product that owned 90% of the market nationally, targeting nationally, there’d be a 90% of reaching an interested buyer. If you have a good concept of the audience that would have interest in your music and use them as a target group, your ads are likely to perform well even with basic advertising. The problems lies in not knowing.

If you know who to target, Facebook Boost and Instagram Promotions can be effective. Even without knowing, they can work if, say, you target the US and sell a product a high percentage of Americans are looking to buy. Without those two ingredients, your ad will have to run until Facebook identifies the groups with interest. The smaller the percentage of the market your product owns, the greater your cost and the lower your success rates.

Next up: Optimizing basic Facebook and Instagram Promotions 


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