Still on the Facebook advertising strategy theme. I think +Andrij Harasewych
might like the sciencey aspect to part of this long post, which I have replicated here:
Facebook Ads are not just for Marketing, they are also an amazingly powerful Market Research Tool. One could argue a FB Business Page is principally a major Research Tool, which just happens to result in more and more returns on investment along the way.
Because Facebook ads are so cheap.
Because they are infinitely tunable and changeable.
Because they can be targeted like a laser beam at a very specific demographic or used like a blunderbuss.
Because they give you back very rich data in almost real time.
Because you can change one thing at a time, test and measure the outcomes, and make the next change intelligently, based on all you have gleaned so far.
Did I say it is a Market Research Tool? Anyone with an Applied Mathematics background like me will recognize from the above description that a FB Page is actually, in effect, Optimization Software.
Facebook Page = Rapid Computation Engine which allows you to Optimize your Returns.
Here's how it works.
Your Task is to maximize your target numbers (Page Likes from engaged and interested parties, Click Thrus, Video Views or Conversions?) while minimizing your Spend and your Time & Effort.
Your Weapons of Choice are your Content (type of Ad, the Graphic, the Text, etc.), the Ad's Demographics and Keywords.
Input your choice into your Facebook Program and it prints out the Outputs: those numbers which measure the success for that particular choice of Weapons.
Or in other words, give FB your best guess and it will tell you how good your guess was.