The introduction of Facebook’s Offline Events is a complete game changer when it comes to advertising on social media. In the past, when a business made the decision to invest marketing dollars in a TV, Radio, or Billboard advertisement the question always is… How is this TV, Radio, or Billboard ad contributing to my sales? You could include a survey whenever somebody makes a purchase or ask each person how they heard of your company, but often times that is simply not realistic.
Think of a bigger purchase item like a zero-turn lawnmower. The odds of somebody purchasing a zero-turn mower simply from Facebook Ads are not very high. So in the past, it was not possible to calculate a true ROI on larger ticket items like a zero-turn lawnmower.
Enter Facebook’s Offline Events. It is now possible to calculate a true Return on Investment for anything you try to sell on Facebook and Instagram by using your sales data and uploading it into the system. This process will match people who viewed one of your ads and include the sales price of their purchase. It is at this point where you can see exactly what your sales were for the cost of marketing your product or service.
Can TV, Radio, Billboard or other forms of traditional marketing do that? There is still an advantage of having a comprehensive advertising strategy but it is helpful to consider how much you should be spending on your social media advertising strategy.
Questions about how this process really works? Feel free to reach out!