How To Use Data to Target Local Consumers on Facebook
Your franchise has been collecting data on your customers for years. Now, where and how can you leverage it to grow your business? You can start with Facebook.
After franchises collect relevant data and extract actionable insights from it, they can use what they've learned to adapt to customer trends and to deliver personalized messaging on Facebook. Facebook allows you to use what you know about your current customers to expand your reach and target potential customers.
Facebook's data trove
Everyone knows that Facebook owns a wealth of data. The Cambridge Analytica breakdown notwithstanding, Facebook's database makes it a fantastic option for advertisers. Facebook goes well beyond traditional demographics such as gender and age and collects information on interests and behaviors. Data are compiled from topics that Facebook users have shared about or shown interest in, so the database is reliable. And, since Facebook data can be leveraged for effective and unique hypertargeting, you can get your company's message in front of precisely the people you want.
Additionally, Facebook allows advertisers to build "lookalike" audiences. Using a list of your customers, you can ask Facebook to create a lookalike audience composed of users who have similar demographic, behavioral, and interest profiles so you can reach others who have a lot in common with your current customers - and, therefore, people who are strong potential customers.
Benefits of Facebook targeting
Facebook advertising offers several additional targeting advantages to franchise advertisers:
- You can communicate with your customers and potential customers where they already are spending their time - in their newsfeed. Because Facebook allows user access at no charge, it boasts 2.27 billion monthly active users, making it the most popular social network in the world. Facebook also owns Instagram, which this year surpassed 1 billion users. And many Instagram users are Millennials, a very desirable advertising demographic for many franchise brands.
- Facebook advertising is affordable for both large franchisors and small franchisees. Facebook allows you to scale your campaigns based on your budget. Because of the number of targeting options, you can choose whether to run a very broad campaign to reach a large audience or a very narrow campaign to reach a hypertargeted group.
- Facebook continually "learns" about your audience and collects additional data that allows ads to perform better. That means Facebook is taking steps to optimize your campaign for you so your money will go further.
- Facebook analytics show not only what you have spent and how many people you reached, but also can help predict what types of campaigns will perform better in the future with your target audience.
Cash in on your data
Mining your franchise's customer data can help you pinpoint who your ideal customers are, and you can use that knowledge to target potential customers on Facebook. The platform's affordable ads, huge audience, and especially its immense supply of reliable data can help you extend your reach and grow your business.
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