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Last year, my company spent more than $3.5 million on Facebook ads, for a range of different companies and campaigns. We’ve targeted audiences by demographic, interests, household income and education level. We ran video ads, image carousels, hyper-targeted geographic locations and more.
After experimenting with a variety of sophisticated ad formats and targeting tools, I can tell you that if I had just $100, I’d put it all on Facebook custom audiences.
For new businesses with restricted budgets, it’s better to start by going after the people that you already know are interested, rather than trying to get in front of strangers and seducing them.