cfx211 - 8:15 pm on May 5, 2011 (gmt 0)
There are companies just killing it on Facebook. That ability to target on Facebook is unmatched. There is a learning curve though - it aint AdWords or AdSense here. You have to use a much more sophisticated level of targeting beyond simplistic keywords. I know of several companies that are getting significantly higher conversion rates on FB as opposed to G/Bing.
I am game to get more sophisticated. For those who are making FB work for them, what does work for you?
I have failed by geotargeting at the country level and using precise interest targeting grouping together a whole bunch of interests that are common across my demographic and running multiple creatives.
Broad interest targeting will not work for me because it has a western orientation that ignores my target market.
Language targeting would be great for me except that there is no inventory for my target languages. My customers tend to speak their native language and read/write in English.
I can see both age and relationship targeting as being good places to test refinements. Stripping out younger and single users could remove a group that is more likely to use an alternative to my product.
Education and work: Again these are good places to see if I can eliminate less affluent customers.
Male/Female: This just sounds like an A/B test.
So if I were to become a more sophisticated FB advertiser, the first thing I would do is to reactivate my campaigns keeping my targeting the same, but slicing and dicing by age, sex, education groups to see if there is any difference in performance amongst them.
Assuming I get a better response from one vs. the other, I would then take the better performing group and start messing around with my precise interest groupings. It would be nice if interest targeting worked in an A and B manner rather than A, B, or both manner.
I can also look at testing between CPM and CPC buys or bidding down my campaigns.
Those sophisticates amongst you, is this the right approach? Have you found that some targeting parameters are useful and others are red herrings?