BiZ niche & ReflectionZ

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Week 3 reading on moodle:
I had read this week 3 article and also watched a couple of youtube videos, however, decided to read it one more time so I can have a better understanding of the different ad objectives. Since we are working on our pre-campaign report, I thought I'd read through the article again to give me a better understanding of what we are expected to do.
The article talks about the 3 ad objective categories.
We group ad objectives by the three categories that align with the high-level stages of a marketing funnel: awareness, consideration and conversion.

Facebook Ad Objectives

It explains how to translate business goals into Facebook ad objectives.

It talks about how to assess the various ad campaign objectives and select the most appropriate ones for the goals that we've created.
Map your campaign objective to a business goal
Once you've defined business goals with your client, you can select your campaign objectives in Ads Manager.
It’s important to map each campaign objective to a business goal. This enables our platforms to optimize ad delivery and performance and help you achieve results.
Your campaign objective is what you want people to do when they see your ads. Each campaign has a single objective.
You may, however, use several campaigns to work toward your business goal. For example, your first campaign may focus on awareness and new customer acquisition. Later, you may encourage people to make a purchase or sign up for an event.

Understand ad objective categories
We group ad objectives by the three categories that align with the high-level stages of a marketing funnel: awareness, consideration and conversion.

Awareness

Use these objectives to let people know about your brand.

Brand Awareness: Increase awareness of your business, brand or service.

Reach: Show your ad to as many people as possible in your target audience.

Conversion

Use these objectives to encourage people to take action.

Conversions: Encourage a specific action on your website, such as app downloads, account creation or purchase.

Catalog Sales: Show products from your store catalog to generate sales.

Store Traffic: Promote your brick-and-mortar business locations to people who are nearby.

We have individual presentations coming up soon and the topic that I'll be focussing on is titled - Facebook bid strategies. I've been doing some research on the topic and found an article that summarizes the Facebook strategies. The article explains that
Meta’s bid strategies help you get the measurable business outcomes you care about, such as increasing total sales, getting more customers, or increasing brand reach. Depending on the outcome you want from your campaign, it's important to choose a bid strategy that best matches your primary KPI, or how you'll measure success. Doing so can maximize your campaign's efficiency, increase your advertising ROI and ultimately increase profitability.

To evaluate which strategy can work best for your campaign, you’ll need to first identify your overall Meta objective and your primary KPI.

For example, A pet shop supplier wants to increase online sales, so they decide to use Meta to drive purchases, their primary objective. If they want to focus on keeping marketing costs low, their primary KPI could be the cost per purchase. If they want to focus on maximizing the purchase value of their purchases, their primary KPI could be returned on ad spend. Whichever KPI they decide to focus on determines the bid strategy they should choose.

My plan is to start putting together my presentation by early next week, as we have quite a few things that we need to work towards as well.

https://www.facebook.com/business/m/one-sheeters/facebook-bid-strategy-guide

Meta Bid Strategy Guide Learn how bid strategies impact your campaign costs and bottom line. After reading this guide, you'll know how to use bidding strategies to get the most from Meta Ads.

https://www.linkedin.com/pulse/three-layers-successful-facebook-campaign-dario-di-feliciantonio #:~:text=1)%20Budget%2FBid%3B%202,found%20within%20those%203%20elements.

The Three Layers Of a Successful Facebook Campaign Whatever we may say impressions are no longer a KPI businesses are penchant for taking into consideration when it comes the time to determine the success of a marketing campaign. Truth be told, some branding-focused giants like Coca Cola, McDonald’s or Red Bull still need to secure their inventory...