“Yesterday we worked on building the pipelines and today it’s time to turn on the taps”, with this Marcus Ho started off the second and final day of his workshop with the 4th batch of Grameenphone Accelerator.
The 5 startups in this batch have their workspace at the GP house along with seed funding and logistical support provided by Grameenphone and Startup Dhaka. The constant guidance of in house, national and international mentors make this boot camp an amazing learning experience for the teams which will be of great use in their startup journey.
This week’s workshops were conducted by social media marketing expert Marcus Ho who has received international recognition for his efforts and dedication in training new startups for their success in this marketing space. He is the author of National Bestseller- Social Payofff & Secrets to Facebook Marketing and also the co-founders of SocialMetric. Marcus has worked with previous batches of Accelerator in the past as well.
The focus of the first day of workshop was to learn about targeting the right market and giving them the right offers in order to turn them into loyal consumers. Today they learned about taking those offers to the customers with the right advertising strategies so that at the end of the day all five teams are ready to run their own ad campaigns on Facebook.
According to Marcus the key element of running ads on Facebook and other social platforms is to acquire customers and not just gaining likes. Although Facebook provides a lot of insights about number of shares, likes and comments on an advertisement post, these are just mere information that can be ignored and are not of much use. The main goal of any ad campaign should be to assess how much money a business is making for the money they are spending on an Ad Campaign.It is always a better idea to create ads instead boosting a page or a post from the page as ads are far more useful since they are more predictable and measurable. There’s little possibility that an ad campaign will be successful on the first go but as soon as a campaign starts to project a good number of profitable consumers the company should realize that it is the right time to expand their investment.The main reason why Facebook is the most profitable advertising platform is because of its heavy usage. We have it our phone it we use it wherever we go. Facebook tracks their user’s information, location, behavior, likes and interests. In a way Facebook knows us more than we know ourselves. Another leverage of using Facebook is that it creates a level ground among businesses regardless of their budget as success is mostly determined by strategies and not investment.
Before creating a campaign, a business should ask themselves the following questions:
* How many signups do we need for our Minimum Viable Offer?
* How many clicks do we need to achieve our target number of inquiries?
As clicks lead to inquiries and ultimately signups, so it is always a good idea to use the CPC (Cost Per Click) payment method rather than CPM (Cost Per Impression). It also involves less risk as you do not get charged as long as anyone clicks on your ad.Another good reason to rely on Facebook to run ad campaigns is that it Facebook itself is running a business of advertisements so in order to ensure their profit they will make sure that the campaigns are successful.
The demonstration followed by hands on exercise helped the team to conduct a proper research of their audience before creating a campaign. With this tool you can target audiences based on their location, age, interests and brands and organizations they are connected with. From there you can also divide your audiences into different segments and niche.This targeting method is not always a sure hit but it definitely filters out unnecessary targets and makes your target more effective and efficient.
The next focus of the workshop was to design the right campaign for the right people. The teams observed and received hand on experience of understanding the basic structure of ad campaigns. Advertisements look different on mobile and desktops. The basic structure of an ad starts with the copy (writing above the image), then the image followed by headline and the description. Marcus showed how to select audience, set campaign names, place the ad and finally sett the budget and payment method. The best format of ad campaign is to use a single image or a single video as it’s proven to be the most effective. Using stock images provided by Facebook is good idea but you also need to keep in mind to use images that are relevant to the target audience. It is essential to choose the right “Call to Action” based on the kind of business you are running.
This tool enables the advertiser to extend the copy of the campaign. It’s a good idea to have a longer copy as it drives more sales. It also lets you choose from different popular ad templates. Based on business types ads can vary from Introduction Ads, Warning Ads and Interesting Ads. It is up to the startups to determine which Ad type suits their business the best.
By the end of this session, teams were ready to launch their own ad campaigns. Marcus Ho has announced to be back very soon to take more sessions and help out the startups of Bangladesh. The diversity of batch 4 of Grameenphone Accelerator has convinced that the startup scene in Bangladesh is here to stay and will only grow from here on.