STRATEGIC FRAMEWORK FOR ADVERTISING ON FACEBOOK BUSINESS MANAGER : Building an effective strategy for utilization of Facebook Ads

Abstract

As social media usage increases every year, business try to take advantage of social media marketing as the most affordable and effective channel. Facebook is the most popular social network leading in amount of daily active users, and offering a wide range of advertising options. The purpose of this research is to help businesses to build an effective strategy for utilizing Facebook Ads, including developing a strategy, deciding what processes to include, and establishing a conceptual framework. The thesis is based on the prior research in the area of strategic management and advertising, social media marketing, and Facebook Meta advertising process. The empirical part of the study applies qualitative approach by analyzing best practices of Facebook advertising professionals which are actively using Facebook Ads. Initially the framework is build based on the results of theoretical review and insight from online sources, and the reviewed after interview results were in. Even though social media advertising is constantly changing and evolving, the existing academic knowledge can still provide a strong base for Facebook advertising strategy and is still used by advertising professionals today. The main steps in Facebook advertising strategy are internal/external analyses, setting SMART goals, designing a customer-driven marketing strategy, creating Facebook ad and analyzing its results to improve the existing strategy. The changes to the framework after the interviews were minimal, and showed that the main challenge is to stay current with the changes and new tools offered by Facebook advertising platform. It also important that Facebook advertising is not used on its own, but integrated into the overall business strategy.