Marketing has always been a part of successful business, but today social media marketing stands out against all other types. This form of marketing can open your business to thousands of people in one day, and if used correctly can lead to increased conversions, more profit, and greater success. One of the most effective ways to reach these benefits through social media marketing is through understanding and utilizing Facebook Audience Insights.
Facebook is the social media platform with the largest user base, so it’s a great asset to your business. While there is a lot that a Facebook profile can do for your business, one of the most powerful tools for growing your business that Facebook offers is Facebook Audience Insights. Read on for everything you need to know about Facebook Audience Insights and how to use it to help your business grow.
WHAT IS FACEBOOK AUDIENCE INSIGHTS?
Facebook Audience Insights is one of the most useful and powerful tools to help you build and grow a successful business. This tool takes social media marketing via Facebook to the next level.
Facebook Audience Insights is an analysis tool that allows you to know your audience better than ever before. When you use this tool to better understand your audience, you improve your Facebook marketing strategy. The information provided by this tool shows you how to better appeal to your audience, how to release more compelling content, and give you information on your competition.
HOW DOES IT WORK?
Facebook Audience Insights shows you more about your audience through two main sources of data.
- 1Self-reported Facebook data: this information is provided by users when they build their profiles.
- 2Third-party data partners: this information is provided through third-party companies that match data with Facebook users.
WHAT CAN YOU LEARN ABOUT YOUR AUDIENCE?
Through self-reported data and through third-party data partners, you can learn a lot about your Facebook audience. Here’s information that Facebook Audience Insights provides:
Age, gender, job role, relationship status, location, page likes, etc. are provided by the user. Third-parties provide information such as purchasing behavior, household income, and home value.
WHO CAN YOU LEARN ABOUT?
Through Facebook Audience Insights you can see the information covered above about three main groups of people. You can learn this information about everyone on Facebook, people connected to your page or event, and people in custom audiences you create.
Now that we’ve covered what Facebook Audience Insights does, let’s look into the importance of this tool in successful business.
WHY ARE AUDIENCE INSIGHTS IMPORTANT?
Facebook Audience Insights can tell you a lot about your audience, but what’s so important about that? Well, the more you know about your audience the more powerful and cost-effective your marketing strategies are.
Instead of wasting your time, effort, and marketing expenses on reaching out to a general audience, with Facebook Audience Insights you can narrow your target audience down to the people who are most likely to use your business or buy your products. Through Facebook Audience you learn about your audience, and the more you know the better you can target, which leads to more engagement and a higher return on investment.
SHRINKING YOUR AUDIENCE AND EXPENSES AND GROWING YOUR BUSINESS
Demographics, geographics, gender, lifestyle: the more of these data points you use, the smaller your audience becomes. Believe it or not, this is a good thing.
For example, if your business sells yoga mats, instead of spending your time, effort, and money to advertise to everyone who is interested in yoga, which is a huge audience, you can get specific with whom you target. Instead of the general yoga population, you can find those who are really passionate about yoga and take it even further by finding passionate yogis in your area to target.
Through targeting a smaller audience you reduce the cost of your advertising by reaching a smaller audience and avoiding money spent on unqualified engagements. Using Facebook Audience Insights for better targeting doesn’t just save you time and money, it allows you to grow a successful audience. Even after you’ve found an audience that works for your company or business, you can use Facebook Audience Insights to further advance that audience by finding more related interests and topics.
Ready to take your business to the next level with Facebook Audience Insights? Let’s look at how to use this powerful tool.
HOW TO USE AUDIENCE INSIGHTS
Facebook Audience Insights is a powerful tool, but it’s only powerful if you know how to use it. To access this tool, go to your Facebook Ad Manager and look for Facebook Audience Insights on the drop-down menu under “tools.” Then follow these steps to get started:
Choose Your Audience
After you open the tool, the first thing you will be asked to do is to choose your audience. You can choose from everyone on Facebook, people connected to your page, or a custom audience. Keep in mind you can always go back and change this option in the future.
Set Your Parameters
After you select your audience you’ll be taken to the next step, which is setting parameters to refine your audience. Here you can narrow down your audience by targeting things like age range, location, gender, interests, etc.
For example, at this point, you can create an audience of people who live in the United States and enjoy shopping on Amazon.com.
Explore the Data
After you’ve set parameters and got your audience, it’s time to explore the data about that audience. There are six tabs within this tool that provide information you can use to analyze your newly set audience. These tabs are:
Using these tabs you can learn tons of information about your newly set audience.
Through demographics, you can learn what percentage of your audience who enjoys Amazon.com is female, and what percent is male. You can learn the age ranges they fall in. And you can even view what the most likely industries that people who enjoy shopping on Amazon.com fall in.
This tab is split into two sections, one section being the top categories that the people in your audience like and the other section being the top pages in those top categories. This way, you can see what else your audience likes to help build a better picture of their lifestyle and interests. Making it easier to appeal to them with your business.
This tab gives you an idea of where your audience is located. This tab can show you the top countries and cities that your audience is located in and the top languages spoken by this audience.
This tab is especially useful if you have a regional business or a physical business location. Through this tab, you can see how well your page is reaching your audience. This tab can also show you information on how your competitors are reaching their regional audiences.
Through this tab, you can learn about how active your audience is on Facebook. Here you can see how often your users have logged onto Facebook in the last 30 days and some other useful information. You can see an average number of page likes and engagements such as comments, likes, shares, and ad clicks. Seeing how active an audience is on Facebook will give you an idea of whether they are worth targeting via Facebook before you waste any money or effort.
This tab dives deep into your audience and gives you important information on your audiences household income, household size, home ownership status, home market value, and spending methods.
The purchase tab is the last tab, and it provides information on how your audience spends money. It covers retail spending, online purchases, and purchase behavior. This tab can help you understand what products your audience is most likely to purchase.
Save Your Audience
Once you’ve reviewed all the data, the last step is to save your audience. Once you save your audience, it’s always there for you to go back to and use for better targeting strategies.
Once you’ve followed these steps to better understand your audience, you’re ready for effective and successful social media advertisements.
A lot goes into a successful business, but one huge part is social media marketing. And with its huge user base, Facebook is one of the best platforms to use. Using Facebook Audience Insights connects you to vital information so you can learn more about your existing and potential audience.
Using the information you learn through this powerful tool will help you target your advertising campaigns, post enticing content, and help build important connections. Now you’ve got all the information you need to use Facebook Audience Analytics to help your business flourish.