1. Make sure your product is ready. Do you know what your minimum viable product is? Have you talked extensively with the people you want it to connect with in order to validate this? If not, consider taking a couple of steps back and making this a top priority. You only get one chance to make a first impression and Facebook ads can be very expensive if you don't already know this information.
2. Align with your business model. It's super important you know exactly what you want to achieve with your Facebook ads. How many signups or purchases? What's your breakeven point with "X" number? Does your cost of customer acquisition include a budget for what you want to spend on these Facebook ads? Any marketing dollars you spend have great potential to be a net loss and costly mistake for you if you don't know these answers.
3. Setup your landing page. This is the first thing a visitor is going to see, and it needs to be awesome. Fortunately, you don't need to reinvent the wheel putting this together. Unbounce and LeadPages are two excellent options with distilled solutions for exactly what you need to be doing. And make sure you have a very specific call to action included on this page, like signing up for an email newsletter.
4. Call Facebook. This is perhaps one of the most overlooked steps that people take when running Facebook ads. Facebook has tiers of versatile experts that are there for one reason - make your campaign a success so that you return as a customer to spend more money. When you speak with a Facebook employee, be completely honest and detailed about what you want to achieve. Be blunt about your bottom line and what needs to happen to make this campaign work to deliver a return on your investment. Facebook will help you put together the right plays on their platform.
5. Test, measure and optimize. This is paramount to your campaign's success. Your goal here is to get click-throughs and conversions. For click-throughs, you need to put several different types of ads out there to determine what is going to drive the most traffic to your site. Click-throughs are achieved by efficiently targeting the demographic your ads will be shown to with the most optimal copy that will incentivize them to click. Conversions are achieved by expanding on this copy through the use of your landing page in order to ensure the site visitor takes the desired action you want to see. Facebook's Power Editor is an excellent tool for testing, measuring and optimizing your click-throughs, and Optimizely is great when it comes to testing, measuring and optimizing your conversions.
Garland William Binns III is a former product manager at Cisco with other past experience working in and around globally distributed teams at Accenture and other technology firms. He has founded and exited multiple startups and is currently working with high technology surrounding the use of Bitcoin and other digital currencies. You can follow him on Twitter.