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This Is How Much to Spend on Facebook Ads

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StrategyDriven Online Marketing and Website Development Article, This Is How Much to Spend on Facebook Ads

Facebook ads! They whisper promises of high revenue and ROI until they cost too much. People spend up to thousands of dollars on Facebook ads hoping for the best results, but there is usually more at play on how much to spend on Facebook ads.

In 2019, Facebook ad spend reached $25.56 billion, which was a 107% increase from 2016. As a business, you obviously want to try out Facebook ads for yourself, but the question is, how much should you spend on them?

One of the best things about Facebook ads is that it doesn’t matter how big or small your budget is, and you can spend as little as $1 a day and still get results. However, this strategy doesn’t work for everyone, so we’ll help you figure out how much to spend on Facebook ads for your business.

How Much Should I Budget for Facebook Ads?

There isn’t an absolute answer to this question because so many things are at play. You have to consider the exact costs of the click-through-rate, cost-per-click, cost-per-1,000 impressions, and cost-per-action.

When showing your ads, Facebook considers two things; positive and relevant experience for customers, and value for you as the advertiser and how your ads reach your target audience. You get to reach the people who are receptive to your ads, and users get to see ads they are interested in.

Essentially, this means advertisers with the highest monetary bids win. It means that the advertisers with the best value come out on top, so what you need more than a high budget is valuable adverts.

Factors That Determine How Much to Spend on Facebook Ads

There are several factors at play here. You need to consider them to come to a decision about how much to spend on Facebook ads.

Consider Your Bid and How Much You Need to Show Your Ad

Once you create a Facebook ad for your business, you’ll be joining a huge pool of advertisers, some of whom are your competitors. You’ll be competing with multiple businesses for the ad spaces available, and your bid amount will determine how interested you are in getting that spot.

The higher your bid is, the higher the chances of getting that ad space and having your ad shown to your target market. You can set your bids manually, or automatically. Manual bids involve setting a maximum amount of money you want to spend on your ads, and you’ll enter bids depending on how much they are worth to you.

The thing about bidding manually is if you bid too low, you may not get the kind of exposure you’re looking for. You still get what you pay for, even on Facebook ads. When you choose automatic bids, Facebook will decide the bid amount for you and use the entire bid budget to maximize your results.

Consider the Ad Quality and How Interested Your Target Audience Will Be

Facebook determines the relevance and quality of an ad, depending on how it performs. It considers both positive and negative feedback. Positive feedback in terms of video views, clicks, or app installs and negative in terms of the number of people that clicked on the “I don’t want to see this ad” option.

They provide a Relevance Score for all ads, and if yours is high, they show your ad more times than those with a low relevance score. Even better, you’ll get to pay less and reach more people in your target market.

Consider Estimated Action Rates

Estimated action rates refer to how likely people are to react to your business ads. Are the people who come across your ad likely to click on it? Facebook makes a determination based on the past actions of your target market and how many times they have clicked on similar ads and purchased products or signed to the services advertised.

Your Target Market

How many people are you targeting? Your target market and the number of people you’re trying to reach will essentially impact how much you spend on Facebook ads.

Your competitors are fighting the same battle and trying to reach the same people, and the more competitors you have vying for the same audience, the higher the cost will be to reach them. Beyond that, the age, location, languages, interests, and behaviors of your target audience may influence your advertising costs.

What Time of the Year Is It?

Certain peak times of the year, more advertisers vie for the same ad spaces, and during such times, the advertising costs rise as well. Some of these times include holidays such as Thanksgiving, Cyber Monday, Black Friday, Christmas, and New Year’s Day.

Where Your Advertisements Appear

The Facebook ecosystem is huge, and placement will also determine how much you pay for your ads. Your ads could appear in Facebook’s desktop News Feed, Facebook’s desktop right column, Messenger, Audience Network, Instagram’s mobile News Feed, or Facebook’s mobile News Feed. So, determine which location your target audience is likely to be while making a choice.

What Your Adverts Are Optimized For

Optimization for ad delivery could determine who gets to see your ads. For instance, if you were to optimize your Facebook ads for lawyers for clicks, Facebook will show them to people who are more likely to click on them. This will profoundly influence how much to spend on Facebook ads because any action taken will affect your Relevance Score.

Additional Extras

Alongside paying for your adverts to be posted, it’s also important to consider the cost of getting adverts made in the first place. Tools like Creatopy banner maker make it incredibly easy to get started with a beautiful advert banner, all without having to pay the price for a graphic designer.

Using options like this is great for businesses that would rather spend time than money. Of course, though, there’s nothing wrong with paying someone to do the work if you are short on time.

How Much to Spend on Facebook Ads: A Guide

As much as you want to consider how much to spend on Facebook ads, you should also consider your ROI, both financial and social. All these factors come into play when determining how much you should spend on Facebook ads and what you want to achieve.

If you like our post and would like to read more informative articles, please check out our blog section.

Choosing Your First Business Premises as an Entrepreneur: 4 Top Tips

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StrategyDriven Starting Your Business Article | Choosing Your First Business Premises as an Entrepreneur: 4 Top TipsMany entrepreneurs are used to working from home or working remotely, but if you’ve developed your brand and built your business substantially enough to move into the property market, you’ll want to find the perfect premises that work for you.

Finding your first physical building or office space to contain your business can be a daunting (and costly) step, but it should also be an exciting time that allows you to concentrate on moving your business forward.

Here are four tips for finding the right premises.

1. Choose to Buy or Lease

This is going to be an important first step, as it’s going to impact you financially. There are pros and cons to both options, and a lot of it is going to depend on your initial budget. As an entrepreneur, it might be that you simply don’t have an upfront deposit to buy a property, however much you would like to. Renting can be a much more flexible option for entrepreneurs, as you don’t need as much money upfront and you have the flexibility to leave the contract and find alternative premises when your business grows or changes in the future.

Of course, buying can be a great investment if you’re looking to make money from a property, and it also allows you more freedom to make any desired changes to the building.

2. Think Carefully About Your Location

For certain businesses, location is everything. If you are a physical store or if you are going to have consumers or clients visiting your property on a regular basis, being stationed in a location that is easily accessible will be a must. You should think about being close to public transport links, busy towns, and city centers.
If your business doesn’t depend on external visitors, you still need to think about commutability for your employees. If your property is quite remote and some of your employees do not drive, it is going to be difficult for them.

3. Consider Any Renovation Work

You may find the perfect property, but it may take a little extra to make it the most suitable for your budget. Renovation work can be factored in, if you have the means and budget for it.

With buying, you have more freedom for renovation, but renting may also be flexible if the landlord is happy for you to take care of the renovations yourself. Always remember to get professional guidance on large jobs, such as reroofing from Lidoran.

4. Stick to Your Requirements

Know in advance what you require from a building and stick to it. Don’t compromise on requirements, as the daily workings of your business will suffer in the long run. You need to think about:

  • General office space
  • Warehousing space, if necessary
  • Parking facilities
  • Other facilities, such as a cafeteria
  • A reception or lobby

Conclusion

Finding a property is all about preparation and budgeting in advance. Knowing what you need ahead of time will ensure that you can then price-match your requirements with what you have, and make a more informed decision regarding affordable properties and whether you buy or lease them.

Finding Talent In All The Right Places

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StrategyDriven Talent Management Article | Finding Talent In All The Right Places

A business is only as good as the people who run it. This can seem like a vast oversimplification, because systems, protocols and automated tasks can also help a business run. But sooner or later, even these will fail without maintenance from specialized personnel. Furthermore, not only does our business rely on the talent we hire, but the talent of other firms, too. You trust that your hired electricians will ensure the office lights stay on, and you trust that your accountant is adequately calculating your books.

Yet of course, we can only exercise the talent decisions we have proper control over. So – where to start? This is a worthwhile question to ask, because it can both increase the talent we acquire as well as helping you find further avenues in making that a possibility.

So – where do we begin here? After all, why some personnel may last longer within your firm and some may only be here for a short duration, ensuring competence is rife throughout your firm can aid you in more ways than one.

Outsourcing

Outsourcing is an essential task when it comes to replenishing your talent for certain tasks. With Snupit you can find essential talent for certain jobs, in a temporary fashion. Furthermore, this can help you with remote working possibilities that create a sense of immediacy, which is essential in today’s intensive, quite opportunistic world. There’s also no hard and fast rule suggesting you cannot make full-time relationships with outsourced staff, allowing a business to path the holes of their talent shielding from now into the future. It all depends on your particular requirements, so be sure to stay honest about your needs.

Talent Acquisition

It can be worthwhile to head on recruitment drives from time to time, or to use headhunting services to ensure high-level executives are interested in your more prominent positions. Talent acquisition practices and services like this will help you avoid wading through resumes that have little value for the complexities of your job, and will give you the means to stay direct in your approach. However, talent acquisition programs can also mean giving someone a chance, such as working with local prisons to ensure their work outreach programmes bring some good to society.

University Visitations

Of course, finding a talented individual you can mold as one of your employees can be a great pursuit, because they’re unlikely to hold the bad habits other seasoned professionals can struggle with, or may find hard to adapt alongside your particular method of working. University visitations can be a worthwhile place to start as far as this is concerned, as recent graduates are all-too-happy to gain offers of employment, while you are gaining someone fresh and inquisitive and motivated to better themselves. Who knows? With an attractive package, they may stay at your firm for decades.

With this advice, we hope you can more easily find talent in all the right places.

Which Countries Love their Beer the Most?

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StrategyDriven Entrepreneurship Article |Beer|Which Countries Love their Beer the MostWe all love our beer. Regardless of country of origin, beer enthusiasts exist all the world over. Whether you’re enjoying a pint in the pub with a friend, sharing beers with a group while watching some sports, or kicking back after a long work week with your favorite IPA, beer is one of those things that everyone loves (and has a strong opinion about).

It will come as a surprise to no-one that the UK and the United States are two of the world’s largest consumers and manufacturers of beer. But which one gets the top prize? Let’s take a look at the countries where beer is most popular.

You might be very surprised to learn that when it comes to top countries for beer consumption per capita, that neither the United States nor the UK are even in the Top 10. Shocking, right? As it turns out, beer consumption per capita is highest for Equatorial Guinea, closely followed by Seychelles, Gabon, proving that African Nations certainly love their brews. Rounding out the top five are Czech Republic and Lithuania, proving that Eastern European nations love theirs as well.

While these numbers are a little surprising, they shouldn’t be. Beer is a great unifier, a beverage that has been around for centuries and is beloved all over the world. It is especially popular in countries where sport is a huge cultural factor, and each of these countries fits the bill.

Of course, the UK and the United States, as well as other western countries such as New Zealand, Australia and Germany love their beer too, especially if the sheer number of breweries and microbreweries that have cropped up in industry in recent years are any indication. Both the UK and the United States have seen a huge boom in the percentage of these microbreweries in recent years, with “craft beer” and custom IPAs, gose, lagers and stouts growing more and more in popularity on the daily.

These innovative microbreweries have taken the industry by storm, relying on recent trends and ever-changing tastes to bring unique flavor and technique to the art of brewing beer. These days, you can easily buy a hazelnut-chocolate stout at your favorite pub, or pick out a six pack of prickly pear pale ale at your local grocery store, just as easily as grabbing that old standby of Budweiser or Guinness. These breweries release new flavors and ideas with the seasons, in order to keep up with trends and popular demand.

Latin American beers or Cervezas can be counted out, either, as these are growing in popularity among beer enthusiasts around the world, as more and more microbreweries crop up in Central and South America.

One thing is sure: beer is just as popular as it ever was. While tastes and varieties might change, and enterprising young brewers unleash their creations onto the market, the one that will always stay the same is a love for the brew itself, regardless of culture or country.

Valuable Natural Materials: Three Things to Keep in Mind About Limestone Extraction

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StrategyDriven Tactical Execution Article |Limestone Extraction|Valuable Natural Materials: Three Things to Keep in Mind About Limestone ExtractionLimestone is a great building material for exteriors and interiors of buildings. Limestone is also an ingredient in concrete and other products. Limestone has been a popular building material for centuries because it is relatively common and easy to extract and make into building materials. A limestone quarry is a kind of open-pit mine where blocks of stone are cut and moved to a location where they can be made into slabs that are then polished and cut into tiles, countertops, and building facing material.

What is Limestone?

Limestone is a natural stone consisting of carbonate sediments containing skeletal fragments of long-dead sea creatures such as coral, mollusks, and foraminifera. The minerals in limestone are aragonite and calcite. This stone is formed over millions of years of sedimentation. During the formation process, it is soluble to water and weak acid solutions. Because of this, cave systems and karst landscapes are formed.

Limestone contains impurities such as sand, clay, iron oxide, organic remains, and other materials that give it its pattern and color. For this reason, limestone will have unique colors and patterns at each extraction site. Limestone is a popular building material because it is fairly common and easy to work with. Limestone can be cut into building blocks or thin plates used as a building facade.

Quarrying Limestone

Limestone is a natural product of the earth and must be extracted by different methods. Limestone Quarry methods determine the quality and beauty of the limestone. Quarries or open mines are used to extract limestone and many other types of rocks used in the building and other industries. Methods of extracting rocks in the quarrying process include digging, heating, wedging, and blasting. The blasting process includes drilling holes with machines and filling them with explosive powders and tamping materials such as ash, clay, fuses and wiring. Then, an electric power supply is used to fire the fuses and explosives. The explosions help to remove sections of limestone from their natural bed.

There are different methods of running quarries and of safely extracting limestone. The best manufacturers use quarrying methods that result in the best slabs of limestone with the least damage to the area surrounding the quarry. When all the limestone has been extracted from a site a large hole is left which can fill with water forming a lake.

Before a quarry is started there will be an analysis of the resource to determine if there is enough good-quality limestone to make the quarry economically viable. This often involves a geological study. The quarry must be licensed and meet local environmental requirements.

Three Considerations For Limestone Extraction.

Three considerations for choosing and using limestone include:

  1. Is limestone suited to the building project? There are other natural stone products to consider. Some are harder than limestone and some have different textures and colorations. Consider the pros and cons of each material. For instance, limestone is susceptible to acids so using it on the exterior of a building where there is acid rain might present maintenance problems over time.
  2. How was this limestone quarried? Some limestone extraction companies use quarrying methods that are bad for the environment. Architects and builders should use suppliers of limestone building materials that use environmentally friendly methods of extraction and manufacture.
  3. Is the chosen stone within the budget and is there sufficient quantities of matching material? This is a natural material and if the job runs short, it is not possible to make more to match.

When the right limestone material is chosen for a building project, the results can be very durable and attractive. Limestone is fairly common and therefore budget-friendly. It is a durable attractive choice for building projects.