Good question. Whilst I’d actively encourage brands and businesses to jump onboard and use Facebook ads to grow their business, there are some base requirements which will give you far more opportunity for success.
Have a read and tick them off. If you have a full house then bob’s your uncle.
A website. Kind of goes without saying given that it’s a digital medium, although many offline businesses can benefit from ads in driving footfall. Your website should be a good one (subjective I know), by which I mean that it loads quickly and is mobile optimized (that’s where most traffic will be coming from both organically and via paid ads).
Your site should have a degree of traction already, with other sources of traffic coming to the site and converting into new business. This means that you have a proven sales process, meaning you can be confident that any new (targeted) traffic stands a decent chance of becoming a sale or lead via your already decent checkout process or lead collection methodology.
If the above is in the bag then it’s likely that you’ll have decent creative assets that can be used for Facebook ads; images, video, logos and more would be hugely useful! Great video can be an excellent creative for ads, allowing you to tell brand and product stories quickly and efficiently, effective as part of an awareness part of an ad strategy. You can then retarget people who have viewed that video – knowing that they already understand you and your brand. Images are clearly important too, they need to be professional and able to make ads appeal to your target audience. Nirvana is all of the above and what we might term, ‘an established brand’.
Another positive starting point would be existing customer data. Using such information will allow you to utilize advanced audience techniques and target ads to the right people at the right time in the right placement.
To use Facebook ads it goes without saying that you need a marketing budget. Whilst it can be relatively low cost to get going you are going to need to spend. You need to be spending on other forms of marketing too, allowing Facebook ads to fit into a well oiled marketing strategy.
It’s also worth noting that you need to understand that Facebook ads aren’t going to just suddenly open the floodgates to success. You’re going to need to test, learn and spend to get to the promised land. Ads should be used to build on your previous success, not be a golden ticket!