Author: Shalom Page 1 of 3

What is insurance? Types of insurance, and why do you need one?

What is insurance? Types of insurance, and why do you need one?

Image by jcomp on Freepik 

With a good Insurance policy, the insurance company promises to pay for certain losses, damages, sickness, or deaths in exchange. Insurance is a contract, usually shown by a policy, in which the user agrees to pay a certain fee to an insurance company or the state. It’s a way to protect your finances and handle risks. It protects you from unpredictable losses, damages, or injuries, empowering you to manage risks and control your financial future.

The company responsible for providing insurance is known as an insurance company or, for short, an Insurer. The one seeking to be insured is called a policyholder, which is the person who buys the insurance policy. The policy covers the organisation, person, or product, referred to as the Insured, the entity protected by the insurance policy.

In exchange for this payment, the insurer promises to pay the insured if a loss covered by the policy happens. Even though this loss is not only a financial one, it must be measurable in money. Also, the insurance deal usually involves something in which the covered has an insurable stake, shown by ownership, possession, or a relationship already in place. 

This differentiates insurance from gambling; whatever is being insured must have a direct link with the policyholder. For example, you cannot insure your neighbour’s house or cars because, in the case of damage, you do not have anything to lose in that accident. This financial security is a crucial benefit of insurance, providing reassurance about your financial stability.

Is Trust Wallet a safe place for my Tokens?

Header Picture for trust wallet

A Brief History of Trust Wallet

Trust Wallet was the brainchild of the visionary Viktor Radchenko, an ingenious Ukrainian investor and founder. His journey began in Ukraine and took a significant turn when he moved to the US in 2011, driven by his ambitious goal of making a global impact. It was in the US that he continued his adventure and eventually founded Trust Wallet. 

After its launch in 2017, it swiftly climbed the ranks to become a top contender in the cryptocurrency utility list. Its initial users were drawn to its unique ability to identify and reveal any ERC-20 token associated with their address. 

As 2018 approached, the founders of this popular cryptocurrency wallet stepped up their game, enhancing its features and addressing the growing concerns of its user base. 

On July 31, 2018, the famous exchange company Binance acquired Trust Wallet, adding another layer of security to Binance’s services. Even though Binance had acquired the cryptocurrency wallet, Viktor stayed through and continued to steer the wallet toward advancement. It is no wonder Trust Wallet made it to the list of the top ten most downloaded cryptocurrency wallets in 2023. 

Related: Your Ultimate Guide to Cryptocurrency Wallets

What is Unique about Trust Wallet? 

Trust Wallet is a software-based cryptocurrency wallet that is user-friendly and easy to use on desktop computers and mobile phones. It’s a cheap option for new and experienced crypto users, with only fees for sending assets and a 1% fee for buying crypto in the app. 

It works with 61 cryptocurrencies and lets users add their coins to track digital assets. Additionally, it works with Bitcoin and Ethereum, making it compatible with major players in the cryptocurrency world.

There are several ways to get help with the wallet’s customer service, such as a help page that caters for frequently asked questions and a direct email to the customer centre.

Stock Market: The Basics, Rules, and Success Tools

Introduction to the Stock Market: Bull Run

Image Source: WangXiNa

What Is the Stock Market?

Stocks can also be called equities and represent securities in which an individual or a body has a percentage interest in a public company. If you hold all the shares of a company, you have voting power over its management.

The stocks listed for trading on the different stock exchanges make up what is often known as the stock market. Shares of publicly traded organisations are traded on several exchanges.

The stock market, governed by well-defined regulations, ensures that all transactions proceed in an orderly manner. This knowledge empowers you, as an investor, to navigate the market with confidence. Trading stocks can be done through formula exchanges or over-the-counter marketplaces, giving you the freedom to choose the method that suits your strategy.

Here is a list of renowned stock exchanges in the US:

Why do companies sell stocks? 

Through an initial public offering (IPO), a private firm takes a significant step towards growth and expansion. The company, now publicly owned and traded, gains a new level of visibility and access to funds for expansion and resource acquisition. This transition opens up a world of possibilities, boosting the company’s capability and potentially leading to significant growth. 

The disadvantage of going public is that it strips the founder or founding team of all control over the business and limits management. 

Individual and corporate investors who believe the company will succeed will purchase such stock offerings, becoming company shareholders. Any dividends and profits from the shares are distributed to the shareholders. Being a shareholder is like bearing the company’s fruit or pain. Hence, If the firm runs out of money, it can also see its investment decline in value or perish totally.

Investment banks are essential to the initial public offering (IPO) process because they contribute to the share selection and underwriting processes. They decide on the price of the shares and the amount to be issued at the IPO. The initial public offering (IPO) procedure may lead to substantial agreements between investment banks and issuing firms worth hundreds of millions of dollars or perhaps one billion dollars or more.

How is the Stock Market regulated?

The Stock Market is regulated mainly by a local financial/monetary regulatory body/institute. The Securities and Exchange Commission (SEC) is a US federal facility that regulates the US stock market. 

To ensure that all market participants are similarly informed, the SEC imposes specific rules, such as enforcing the timely submission of financial reports every quarter and rapid notification of pertinent business changes. For instance, if a company fails to submit its financial report within the specified time, the SEC can suspend its trading activities until the report is submitted.

Failure to follow the rules might result in the suspension of trade and other sanctions.

New York Stock Exchange

Image by: vector_corp

Who is a Stockbroker?

A stockbroker is a middleman between the stock exchanges and those willing to invest(Investor). They assist investors by providing advice on potential investments, executing trades, and managing their portfolios. They also keep investors updated on market trends and changes that may affect their investments. Most people ready to invest in the stock market need more patience to learn the skills of the market; they naturally prefer to rely on the expertise of someone skilled in stock buying and selling. 

Significance of a Stock-Simulator 

A stock market simulator is a valuable tool that allows you to enter the market without the risk of losing your hard-earned money. It provides a safe learning environment where you can experience the ups and downs of trading stocks without the fear of financial loss. This sense of security can help you build confidence and develop your trading skills without the pressure of real-world consequences.

Are Online Banks Trustworthy?

Are Online Banks Trust worthy

Online banks are financial firms that provide banking services mainly or totally through the Internet. Their services range from account opening to bill payments and CD investments. 

Online banks operate 24/7 and offer lower fees, fewer time limits, higher savings and CD rates, and cashback rewards.

The main drawback of Online banks is their exclusive virtual operation: Customers will be unable to deposit or withdraw cash due to this. Some online banks offer ATM services, like Capital One 360, blending physical and virtual operations, widely recognised as online. However, these developments still do not entirely remove the doubt many still have about online banks. 

In this blog post, you will get a very definite understanding of how online banks handle security and if you can trust an online bank to keep your earnings.

FDIC’s role in bank security

In 1933, Congress inaugurated the Federal Deposit Insurance Corporation (FDIC) to keep the country’s banking system stable and the public’s trust in it. This was an urgent and highly needed move because, in the 1920s, spanning into the early 30s, a national bank failure resulted in a severe loss of many American savings. 

The FDIC has been saddled with the responsibility of Insuring financial institutions, bringing accountability, and increasing customer protection. Part of the duties is to make significant economic issues easily resolvable. Since its inception, the FDIC has proven its capacity over the years by changing the US banking security trajectory. 

Aside from federal government funding, the FDIC collects premiums from its members to cover expenses and compensate depositors at failing banks. The bank deposits the money into a Deposit Insurance Fund (DIF), with banks paying based on insured deposit balances and risk levels.

Related blog post: What are online banks? Features, Drawbacks & Reputable Banks.

What are online banks? Features, Drawbacks & Reputable Banks.

What are online banks

What are online banks?

Online banks are also known as e-banks, web banks, electronic banks, or, in the US, direct banks. These institutions primarily or solely operate online, utilizing websites, mobile apps, and digital channels instead of physical branches.

Financial institutions provide digital experiences via mobile apps for seamless online account access and transaction execution. Online banks differ from these in that they do not have physical branches. 

Capital One 360 runs a hybrid structure with a handful of physical offices and an imposing digital structure. It is, in a real sense, regarded as an online bank. This hybrid structure gives a great impression to those who want the low transaction rates that come with online banking and the confident assurance that comes with traditional brick-and-mortar banks

A brief history of online banks

On October 1, 1989, First Direct began offering 24-hour telephone banking in the United Kingdom. That decision paved the way for the introduction of online banking, which started in the early 1990s with the commercialisation of the Internet when computers became more prominent.

The first online (direct) Bank in the US was Security First Network Bank (SFNB), established in 1995 and pioneered the insurance of direct banks by the Federal Deposit Insurance Corporation (FDIC). This Bank proved that online banking was a move in the right direction despite its inability to close its initial year in profit.   

As internet banking grew, so did the willingness of customers to use the Internet for banking. The FDIC’s banking report shows that at least 60% of bank users do at least one or more forms of banking activity online. This statistic is also responsible for the fast-rising growth of exclusive online banks.  

Notable features of Online banks

Like traditional banks, online banks cater to all the services most bank users need. These include account opening, savings, fund transfers, and bill payments. Some online banks can offer savings even in the absence of physical offices because of ATM networks where customers can deposit and withdraw money with no or very minimal charges. 

The complete digital structure adopted by most online banks is responsible for lower operational costs because they do not have to pay rent, buy many buildings, or worry about high maintenance costs. 

Below are a few notable features of online banks:

  • 24/7 Access

Traditional banks have designated working hours before and after which they do not attend to more customers. The case is different with online banks, which offer a 24-hour service accessible anywhere as long as access to a broadband network exists.

  • Attractive Interest Rates

Are you looking for the best CD rates? Then, an online bank is one of your best options. Online banks are likelier to give the highest annual percentage yield (APY).

A certificate of deposit (CD) allows customers to save for a set amount of time and earn interest. CDs differ from savings accounts because you can only touch the money at the end of the term, or you’ll have to pay fees or lose interest.

  • A small deposit is required to open an account

Most internet banks don’t make you keep a minimum balance like most traditional banks do. You usually only need a small amount of money to open an account with them, or nothing at all. 

  • Competitive incentives

Traditional banks entice customers with attractive interest rates and incentives like referral bonuses and cashback rewards on transactions.

  • Zero charges on ATM withdrawals

Online banks tend to operate fee-free ATM transactions, and even when they do not, they tend to offer a certain number of free transactions during the day. 

  • Better Online Experiences

Because online banks operate exclusively or primarily online, they are prone to investing mainly in this specialisation. A 2018 Bain and Company survey reveals traditional banks’ lag in crucial customer-centric areas compared to online banks.

The Ultimate Financial Literacy Guide: Six Places to Acquire Knowledge.

Financial Literacy: Key  Image

Do you want to acquire an intricate knowledge of finances and get ahead financially? There is always an opportunity to improve financially, ranging from free courses to programs costing thousands of dollars. 

Financial literacy is essential for managing money well, making wise choices, and becoming financially stable in the long run. Proper financial knowledge has a good impact on individual and corporate saving habits. The Financial Industry Regulatory Authority (FINRA) did a study that showed people who know more about money are more likely to save for emergencies and handle their day-to-day finances better.

In this blog post, we will consider six channels through which anyone can acquire financial knowledge.

1. University degree (Finance-related courses) 

Are you looking to get financial education inside the walls of a school (either in person or online)? So, the word “finance” could be used for any course that teaches how to spend and handle money.

If you get a degree in Finance, you will know a lot about corporate Finance, which is business finance. Accounting, Valuation, Risk Management, International Finance, and Economics are all courses connected to Finance and will help you learn a lot about them.

A bachelor’s programme typically lasts three to four years, with some four-year programmes requiring students to intern at local businesses as a condition of graduation. Finance is often taught as part of a Bachelor of Business Administration or Bachelor of Economics. 

Here are a few prominent institutions that offer finance-related courses: 

Another academic option to consider if you want to spend less is going for a short-term financial course. 

2. Short-term Finance courses

A short-term finance course is ideal for those seeking affordable education without the commitment of a multi-year college degree. It’s also great for workers who want to move up in their jobs by getting a certificate in finance from a well-known school.

The great thing about a short-term course is that any novice or professional can enrol and improve their personal or organisational financial life. While some short-term finance courses require experience, many are open to people without a background in finance.

A short-term finance certificate programme teaches you how to make the most of your chances in the financial markets and make smart choices about money and investments. 

How well does YouTube pay?

Youtube can make you rich

How to start a YouTube channel

YouTube is a brand that Google owns; hence, to operate a YouTube account, you will need to use your current Gmail account or create a Gmail account to do that.  

  • Go straight to youtube.com and sign in at the right-hand corner on the top of the page. This will request that you input your gmail account or create one.
How to sign in on YOUTUBE
  • After you have logged in to your gmail account into YouTube, the next step is to create a channel. Do this by clicking the Icon on the top right-hand corner. 
  • The next interphase allows you to create a personal or business channel. 
  • Choose a channel name, follow the relevant processes, save, and you are now a member of the YouTube creator family. 

Why start a YouTube channel?

If you are thinking of starting a YouTube channel in 2024, you are making the right decision and it is not too late for you to get on the ride. YouTube not only lets you show off your talent, but it also lets you get paid for making videos.

Renowned creator MrBeast has made news for himself after he amassed a subscriber number of over one hundred million. This is a big reason his YouTube payment is so high—millions of dollars. You can also get on the YouTube payment plan by meeting the requirements for the YouTube musician partnership. 

Channels of earning from YouTube

The YouTube Partner Programme is a comprehensive partner program that provides creators with income opportunities and assistance. In the past, the primary way YouTubers could earn was through AdSense. 

This has always been a significant discussion among people paid by YouTube. Recently, upon acceptance into the partnership program, creators can earn revenue from YouTube adverts, Super Thanks, Super Stickers, Super Chat, channel subscriptions and by selling goods to their audience. 

Once registered to the Partnership programme, you get an automated copyright flag when someone else reuploads your work and access to Creator Support staff for one-on-one assistance. By continually innovating, YouTube aims to make the Partner Programme continually beneficial and worth it for creators. 

Types of videos creators can create

YouTube was majorly known for long-form- landscape videos until the concept of shorts became popular among creators on social media sensation networks like Snapchat, TikTok, and Instagram. This made YouTube introduce YouTube shorts, and this became significant on YouTube. Today, YouTube has introduced YouTube shorts into what qualifies a creator to be a partnership programme. 

Youtube Shorts Daily Views - Start a Youtube channel

Source: Business Insider

The YouTube Partner Programme provides access to tools such as one-on-one help and the Copyright Match Tool, and it enables content creators who meet specific criteria to participate in various revenue-generating opportunities. 

Creators are developing prosperous firms that have staff members and fully functional operations. They represent a significant portion of the more than $80 billion distributed to inventors, artists, and media firms over the previous three years.YouTube Revenue and Usage Statistics (2024) – Business of Apps

How to become eligible

YouTube isn’t just handing out dollars to people for creating videos; the multibillion-dollar corporation requires that whoever gets into the partnership programme meets specific criteria to benefit from this tremendous opportunity. The requirements are called ‘Monetisation policies.’ such a creator must live in the region where the YouTube partner program is available. 

Now, content creators in the United States, the UK, Taiwan, South Korea and Canada have a faster path to being eligible for the YouTube Partner Programme. Apply to participate in the programme and unlock perks such as financing from fans and select features for YouTube Shopping if you meet the eligibility requirements listed below:

  • To qualify for this payment, creators need to have 500 subscribers, three public uploads in the last ninety days, 3,000 valid public watch hours in the previous twelve months, or 3 million public Shorts views in the previous ninety days.

Creators in other parts of the world can enjoy the benefit of the YouTube partners program when they meet the requirements below: 

  • One thousand subscribers and four thousand valid public viewing times in the preceding 12 months OR 10,000,000 valid public views of Shorts in the preceding 90 days.

Final take

All creators will go through a standard review process upon applying to ensure their channel meets our policies and guidelines. Some features may have additional eligibility criteria. In all, choosing to start a YouTube channel is not a bad decision.

Elevate Your Productivity with These AI-Based Chrome Extensions


In today’s fast-paced digital world, productivity is important for both people and companies. AI-Based Chrome extensions can improve efficiency by automating chores, providing insights, and streamlining workflows. They do this by using the power of artificial intelligence (AI).

In this interesting blog post, we’ll talk about ten AI-powered Chrome apps that will blow your mind. Prepare to be amazed by the wonders of technology as we introduce a new age of productivity where efficiency meets innovation and work becomes a harmonious symphony of smooth accomplishment.

1. Grammarly

Chrome Based Extensions - Grammarly

The AI-powered writing assistant can help you improve your online writing. This amazing extension does more than just check your grammar and spelling. It also improves your sentence structure by adding ideas that give your emails, social media posts, and content more life.

2. Evernote Web Clipper:

 

With Evernote Web Clipper, you’ll find an oasis of order. This amazing extension allows you to save interesting web articles, useful research, and other online material straight to your Evernote account.

3. Momentum

Chrome Based Extensions - Momentum

This app changes your new tab page into a place where you can get things done. The joy of peaceful backgrounds, updates, task-oriented to-do lists, and inspiring motivational quotes that get you excited about what you want to do.  Say goodbye to things that will only keep you from working for a short time.

4. RescueTime

 Rescue Time Extension

RescueTime keeps track of what you do online and tells you how you spend your time. It helps you figure out what’s getting in the way and set goals.

5. Boomerang for Gmail

Chrome Based Extensions - Boomerang

Boomerang lets you send emails later, set notes, and track how people respond. It helps you keep up with your email. It organizes your inbox in a way that makes sense, keeps you in good contact with your peers, and doesn’t care about time.

6. Toby

Toby Extension

It is a tab manager that organises your open tabs into groups. It helps you keep your browser neat and lets you move quickly between jobs. Watch as chaos turns into order, and moving from one job to another becomes a dance of effortless precision.

7. Loom:

Loom is a screen recorder that uses AI to copy your videos in a way that makes you look like a pro. It also lets you record your screen and automatically transcribes the movies you record. You can record lessons or demos and save time on transcription by not having to write them down.

8. Feedly

Chrome Based Extensions - Feedly

Feedly is a news reader that shows you stories based on what you’re interested in. It helps you find new things to read without getting too much.

9. Zoho Notebook

Chrome Based Extensions - Zoho Notebook

Zoho Notebook is an add-on that helps you organize your notes and web clippings. It makes it easy to find information on busy workdays.

10. Workona

Chrome Based Extensions - Workona

Workona, the transcendental extension that organises your tabs into different workspaces, is the key to being productive in many places at once. You can switch between projects, tasks, and studies without much trouble, going beyond the limits of traditional browsing. 

Conclusion:

AI-based Chrome extensions are game-changers when it comes to improving work and efficiency. Use these AI-driven tools to be more productive and make the most of your online time.
 

Record Label offer? Know this before signing a deal!

What is A Record Label

Are you interested in using your love for good music to make a fortune while working with a record label? This is the right blog post you need to help you take your vision to the next level without getting into any problems with your record label. 

Who is a recording artist and performer?

Recording artists are professional musicians who make a living by recording music, most of which is that of others but can also be their own, selling it, and performing at live events. This can be an individual, a band or group of friends, or a large orchestra.

In the past, it was pretty difficult to venture into the business of song recording because of the limitations of technology. New technology like multitrack recordings and stereophonic recordings makes it easier for record labels to sign more deals with people to produce their recordings. With the very vast softwares available for recording, even a teenager can start a career in music and begin to rake in several thousand dollars after a while. 

Recording Artist in a Record Label

Image by prostooleh, Freepik

There are two ways to take your song recording and performance to a professional level: either sign with a record label or work as an independent artist. Each has its own pros and cons. 

What is a Record Label

A record label is a company that manages brands and trademarks and coordinates the production, distribution, marketing, promotion, and intellectual property rights compliance for musical recordings and music videos. Record labels also recruit and grow new musicians and maintain agreements with recording artists and respective managers.

Signing with a record label can be a huge step forward for any recording artist or anyone looking to make a career out of music. In fact, artists flaunt their record deals and celebrate when they get a deal with a record label. 

While some artists will never get a record deal with a record label and hit it big, Getting a deal with a record label can make a difference in an artist’s music career. In most cases, artists think that landing a record deal is the key to success, and while it can be a major part of one, it is not the only step to a successful career, and the journey could get demanding after some time. 

There are two major types of record labels:

  • Major labels: The music business is dominated by three well-known record labels known as ‘The Big 3’: Sony, Universal, and Warner. These labels are usually associated with well-known musicians. 

Major labels are well-funded and have a wide range of divisions that cover every aspect of music production. Furthermore, they manage a number of smaller independent labels that specialise in specific genres and specialisations.

  • Independent labels (indie labels): Independent (indie) record labels and music publishers are those that are not under the ownership or control of the big three. The term “indie label” may refer to those who fit specified criteria for organisation and scale, or it may refer to any non-mainstream music releaser, regardless of structure.

Indie labels are frequently more artist-friendly. Despite lower sales, they frequently give higher artist royalties, which is usual in 50/50 arrangements. These labels are usually artist-owned, with the goal of controlling output quality. 

Despite the fact that independent labels lack the “big three” resources and market shares, indie artists might earn more because of cheaper production costs. Smaller revenues might sometimes help them repay their original investments.

What is a Recording Contracts 

A recording contract is a legally binding agreement that dictates the terms of the professional engagement between a recording artist and a record label. Usually, the label has a contractual responsibility to support and collaborate with the artist, and the artist accepts the label’s offer to record music.

The specifics and commitments in a recording contract are not really standardised. To interpret the contract, the artist must be prepared to speak with a legal expert who is very familiar with music and copyright laws

The artist will agree to produce songs for the record label for the number of years stated in the contract. This contract can be extended based on mutual agreement between the artist and the label. However, the label is most likely to terminate the contract if the artist is not profitable for the label. 

Signing a Record Label Deal

Image by pch.vector, Freepik

According to the IFPI standard, the typical investment a major record label makes in new artists is between $500,000 and $2,000,000. This money covers many things, most of which is spent on advance, production (sound and video), promotion, and tours. This investment is usually pivotal to the huge success of many artists signed by major labels, as it provides sufficient budget to take an artist from obscurity to fame. 

In a case where the recording artist has a track record of success as an independent artist, the artist will have more bargaining rights than an artist with no track record. In fact, during negotiation, you must present your best foot before the record label and prove that you have what it takes to be a successful artist. 

Termination of contract

Typically, contracts include provisions for cancellation, with artists agreeing to pay back any advances in order to exit the contract. The label maintains ownership of the music recordings and could also force the artist to give over every track they produce until the advance fund is repaid.

Related Blogpost: 5 Reasons to Start Your Career as an Independent Artist

Pros and Cons of signing a record deal

Pros.

  • Exposure: Signing with a major label makes it simple to get more exposure because they have a good reputation, a bigger budget, and a global presence. 
  • Paid for and prepaid: After signing with a record label, an artist has access to financial support for studio time, production, marketing, promotion, tours, and other expenses, making it easier for them to complete the process without worrying about money.

Cons. 

  • Reduced creative freedom: Most record labels are all about the business, which results in a situation where the creativity of the artist is highly prioritised. Record firms, especially large labels, focus on nurturing musicians into “sellable” products. Artists interested in financial gain may find this deal beneficial.
  • Profit is distributed on a percentage basis: labels typically give artists 20% of their earnings from large record deals, with the remaining 80% going to the label. However, these arrangements frequently include the previously stated advance payments as well as a lot of exposure, so it’s not all terrible and may change with a subsequent review of the contract. 

Earning money as a signed recording artist

If an artist lands a record deal, he or she must be intimately acquainted with a few things. This is because a record deal might not be the end of an artist’s personal financial problems; it can even be the reason why the artist goes broke later in life. Just like in any other field, a sound knowledge of how the business of that realm works will be the difference between a successful and unsuccessful artist.

How royalties work for record labels 

In general, the earnings of a recording artist under a record label come from the label. The record label releases the track or album through distributors. The earnings from the product are paid to the distributor, which then pays the label. The label pays the artist in the form of royalties. 

An artist also gets a performance royalty every time his or her recording is played on the radio or performed by others at a live event, even if it’s the artist’s own event, as long as the set list is submitted to the performing rights organisation.  

However, this is dependent on the kind of contract the artist has with the record label. This type of contract will determine whether a portion of the performance royalty will go to the record label or not. 

Record Label Advances 

On signing a record deal, a record label usually pays the artist a sum of money to help the artist-run their day-to-day activities during the whole production process, just before the royalties begin to flow in. This is called an advance. This is to help the artist focus on creating the best that they can because they have undisturbed time to explore their creativity. An advance is not usually considered a loan; however, this money is usually recouped immediately when the record label begins to make money from the releases. In the case where the record deal yields no profit, the record label is not obligated to demand any repayment from the artist. A typical advance amount will usually range from anything between $50,000 and $350,000, depending on the size of the record label and the track record of the artist. 

How much, on average, can a record label artist make?

Royalties from music streams can be so small for every individual stream that you almost think no artist can make a fortune from royalties. However, when you consider that over one million times in a year someone streams a song released in the United States, you will realise that streaming royalties can amount to a fortune for the several parties involved in the whole production of the sound and video. Billboard estimates that in the year 2021, Dua Lipa raked in a whopping sum of over four million dollars on a single track, which happened to be the most streamed song in 2021. Being a record label signee has many advantages. The most important thing, however, is to make sure that you read the contract’s terms and that you consult with a professional in the area of legal issues to help you fully investigate all of the terms of the contract before signing any agreement. 

5 Essential Tips to Know Before Launching Your Facebook Ad Campaign

Facebook Ad Campaign - Facebook is the King of Advert for all social media platforms.

Introduction to Facebook Ad Campaign

Social media is a tool that transforms the world into a global village. Within seconds of posting a piece of information, it has the potential to go viral, giving the entire world access to it. Currently, there are 4.65 billion social media users on the planet, accounting for 58.7% of the global population, with a significant portion having a Facebook account. Recent reports also indicate that Facebook has 2.99 billion monthly active users as of 2023.

Mark Zuckerberg founded Facebook in 2004 with the intention of connecting people together and fostering genuine relationships. Facebook has now transitioned into Meta, encompassing Facebook, Instagram, WhatsApp, and Threads. 

Would you love to create Facebook Ad campaigns that convert maximum results? Here are five things you need to know before you can successfully run a Facebook Ad campaign. 

ABC of Facebook Advertisement

Facebook Ad Campaign - Tips to Know before Starting one

Facebook, which falls under the Meta umbrella, allows users with accounts on the platform to pay a fee to help promote their information, Products or Services for a selected time frame and purpose. Facebook then disseminates these ads, comprising images, videos, carousels, and stories, across various platforms’ main feeds and user stories on Facebook and Instagram.

This form of advertising empowers businesses to reach a wide audience and target specific demographics based on user data collected by Facebook. Given the popularity of social media platforms like Facebook, advertising on these platforms has become an essential marketing strategy for countless companies.

Facebook primarily serves five main campaign purposes: Conversions, Impressions, Reach, Link Clicks, and Lead Generation.

These objectives enable advertisers to tailor their campaigns to specific goals and target audiences. In 2022, Facebook meta-advertising revealedthat advertising revenues accounted for a staggering 97.5% of Facebook’s total revenues, reaching $113.64 billion”. This was a slight slowdown compared to the $115.65 billion in revenues for 2021. 

As KB Marketing Agency aptly stated, “Ignoring online marketing is like opening a business but not telling anyone.” Business owners aiming to boost sales and build connections with customers and prospects have embraced social media marketing, with Facebook Paid advertising, you gain access to vast audiences, precise demographic targeting, age and gender preferences, interests, and other features. For example, individuals seeking to purchase a product are likely to research online or click paid advertisements. Meta  presents your products to audiences who are most likely to inquire and eventually make a purchase this is commonly referred to as “Brand Awareness.”

Business owners use Facebook advertising for several compelling reasons:

Vast User Base: Over 200 million small business owners make use of Facebook around the world, and about 3.7 million businesses run Facebook ad campaigns. This means businesses can reach people of different demographics, interests, and behaviours, increasing their chances of finding potential customers.

Precise Targeting: Facebook offers advanced targeting options that enable businesses to show their ads to specific groups of people based on factors like age, gender, location, interests, and online behaviour. This accuracy makes sure that people who are more likely to be interested in the offered goods or services see the ads. 

Cost-Effective: Compared to Google ads, Facebook advertising has the lowest average cost per click ($0.94). This is really considerate, especially for small businesses, who can set their daily budgets and bid amounts for flexibility and control over the advertising cost.

Measurable Results: Facebook provides comprehensive analytics and insights to help advertisers track ad performance and make data-driven decisions for future campaigns. This can also provide you with firsthand experience of the feedback and help you evaluate what your potential buyers want. 

Customizable Ad Formats: Facebook offers a range of ad formats, including image ads, video ads, carousel ads, and more. Businesses can choose the format that best suits their message and goals, making their ads more engaging and interactive.

Remarketing Opportunities: Facebook enables businesses to retarget users who have interacted with their website or previous ads. This is a powerful way to re-engage potential customers who may not have converted on their first visit, increasing the chances of conversion.

Brand Exposure and Awareness: Facebook advertising not only drives sales but also helps businesses build brand awareness. Consistent exposure to a brand’s message and visuals can lead to increased recognition and trust among potential customers.

Now, let’s delve into the five essential tips for your Facebook ad campaign:

1. Define Your Goals: 

Before you start spending money on ads, it’s crucial to have clear goals in mind. As a business owner who wants to get maximum promotional results, you need to have a goal in mind, which will ensure that every decision, copy, imagery, and caption for the Facebook Ads is well tailored to achieving the goal. This means your ad campaigns must align with your business goals and the needs of your customers.

Ask yourself what you want to achieve with your Facebook ad campaign. Do you want more website traffic, increased sales, brand awareness, or more page likes? Having well-defined objectives will guide your ad creation and help you measure success effectively.

2. Know Your Audience:

Understanding your target audience is paramount. As Seth Godin and Meghan Keaney Anderson emphasize, a brand should align with consumers’ expectations, memories, stories, and relationships. Facebook offers robust targeting options, but your audience knowledge is key to using them effectively. Consider factors like age, gender, location, interests, and online behaviour to tailor your ads effectively.

3. Budget wisely:

You don’t need a big budget to start advertising on Facebook. You can start with a small amount and gradually increase it as you see results. Set a daily or lifetime budget that you’re comfortable with, and keep a close eye on your ad spending. Facebook’s ad manager allows you to control your budget and schedule, making it flexible for businesses of all sizes.

4. Craft Compelling Ad Creatives:

“Don’t push people to where you want to be; meet them where they are.” — Meghan Keaney Anderson, VP Marketing, HubSpot

Your ad creative grabs the attention of potential customers. Since you already know your customers’ minds and interests, create eye-catching visuals and write engaging ad copy that speaks directly to your target audience. Use clear, concise language and include a strong call to action. A/B testing can help you refine your creatives over time to find out what works best.

5. Monitor and optimize:

Master the topic, the message, and the delivery.” — Steve Jobs, Co-Founder, Apple

Launching your ad campaign is just the beginning. Regularly monitor your ad performance to see what’s working and what’s not. Facebook provides detailed insights on metrics like click-through rate (CTR), conversion rate, and cost per click (CPC). Use this data to make informed decisions and optimize your campaign for better results.

Conclusion

Starting a Facebook ad campaign doesn’t have to be daunting. By following these five essential tips—setting clear goals, understanding your audience, budgeting wisely, crafting compelling ad creatives, and monitoring and optimizing—you’ll be well on your way to running successful Facebook ads. Remember that Facebook advertising is an ongoing process, and continuous improvement is key to achieving your business objectives.

Page 1 of 3

Theme by Anders Norén & Customized by Karol K