A while back, Facebook announced it would launch video ads this summer for the whopping price of $1 million. If you can afford that now, then wow, good for you, and hurry to secure your spot. If not, don’t worry, you’re like the rest of us, but here are our expert tips on how to prepare for that lower price tag.
Based on how current Facebook ads work, the video ads will likely be a bidding system that will allow you to upload your ad, select your target, and bid on how much you’d like to spend. If Facebook keeps the same method for their video ads, then you must prepare the following.
Facebook ads can be very successful, but you must know how much you want to spend on video ads. Don’t forget to include web video production costs in the mix, as you must produce your short video first. Then knowing how much you’d like to spend on the Facebook platform itself will ensure no surprises in the end.
The way Facebook ads currently work is that you choose different targets and test out which ones click the ad. This means you should absolutely know your target perfectly. Are they in a certain age group? Are they in a specific location? Do they like Pinterest? Do they like DIY projects? All of these questions should be answered before you even consider Facebook ads, because you might lose money testing out your video ads if this remains unanswered.
The nice thing about Facebook ads is that you can test different ads on different markets. Perhaps Facebook video ads will allow that as well, but perhaps they will not. If you are 100% going to try video ads, then make two different ads and test them on an internal team or even friends and family. Once Facebook unleashes video ads to the public, you’ll have your successful ad ready to post.
Until Facebook lowers their enormous price tag, smaller businesses can wait. However, it never hurts to be prepared for when that time comes!