You’ve been running ads on Facebook.
Throughout the MCO period the ad cost is lower – and that’s great! But how do you scale up?
After all, it takes more than just hitting the ‘boost’ button on Facebook.
Don’t worry – we got you covered with 3 tips today, for you run your ads like a pro.
First, watch this video tip on optimizing your Facebook ad:
1 – Look at your ad breakdown report.
Running successful Facebook ads is more than choosing your audience’s interest, putting in a creative and hit publish.
Make sure you tie in every ad set with a goal. Some typical conversion goals include:
- Lead conversion.
- Sale conversion.
- Click to message.
- Landing page visit.
- Brochure download
It’s extremely important to set up conversion objectives on your website – as you’ll train Facebook’s AI to what you consider as success metric.
You might notice when you begin running ads, your ad campaign go into a ‘learning phase’. This is when the ads delivery system is learning the best way to deliver your ad set, based on the conversions you want.
As your ads run, you’ll begin to collect data. I usually come back to optimize the ad campaign after getting a few conversions (optimization events, as Facebook calls it).
Here’s how to optimize your ad campaigns.
First, ask relevant marketing questions. For example:
- Which platform (Facebook, Instagram, Audience Network, etc.) did we get our conversions from?
- What time do most of our audience respond to ads?
- Are they male or female?
- Which device did they use?
- Were there any UX issues on those devices?
The Facebook Ads Manager provides you with lots of data, making it easy for you to get lost digging and exploring data.
So figure out what you want to find out, before digging into the reporting dashboard.
Second, look at your campaign reports and make necessary optimization. Here’s how we optimized one of our Facebook ad set. First, go into ads manager, then hit view a breakdown of the ad report by conversion device:
What we wanted to find out which device most of our conversions happened on. Filtering the breakdown shows us this results:
We saw that a majority of our conversion objective (landing page visits) happened on a mobile device – Android smartphone and iPhone.
With this we then optimized the ad set by turning off the delivery of ads into desktop placements and focusing on mobile placements.
This is one of the many optimizations we did for our ads – to lower ad wastage and to get higher return on ad spend (ROAS). Start looking at the breakdown reports and figure out what you can do to optimize your ad sets.
2 – Go for the easy wins.
Familiar with the growth marketing funnel? Here’s an example:
Getting customers to buy from you again is easier compared to finding new customers.
The problem is many businesses forget about their paying customers and focus only on their top of funnel – running awareness ads to attract new ‘cold audience’.
The opportunity here is to increase the AOV (Average Order Value) of your existing customers, by providing more value for them.
- If your business sells computers. You can offer existing customers, computer accessories to improve their experience.
- If you’re a fitness coach. You can offer customers weekly meal plans.
- If you sell softwares. You can provide add-ons.
- Game publishers sells DLC (Downloadable content) that gamers can purchase to add to their gaming experience.
Here’s how to run a retargeting ad. Go to your Facebook Ads Manager, and click on Audiences.
Click on upload customer list and upload a list of your existing customers in .xls or .txt format. It’ll take around 30 minutes + for Facebook to match your customer list with the audience on Facebook.
Then, run your ads targeting your existing customers. What’s important at this point is to create a personalized message that speaks to your customers. The way your business speaks to a stranger and someone who has bought from you is totally different.
Here’s an example of a retargeting ad by Masterclass, speaking to their existing customers:
3 – The law of diminishing returns in your ads.
Paid ads is like printing money. “Spend RM10 and get back RM20”. While the concept is alluring, it’s easier said than done.
When you begin to get a healthy ROAS (Return-on-Ad-Spend), you may be tempted to start scaling your ads by spending more. But, if you have done paid advertising before – you’ll be familiar with the law of diminishing returns.
A general rule of thumb is to hit a 400% ROAS
What happens when you scale your ad budgets – is you begin to exhaust the audience that you’re targeting. It’s usually one of these two things:
- You exhausted your target audience.
- Your target audience get ad fatigue (seeing your ad over and over again).
So what do you do? First, dive into your ad report and check the frequency of your ads:
If you see the frequency of ad going up to high levels (6 and above), it’s time to refresh your ads or switch your target audience. When your audience do not respond to your ad, it probably means you have a weak offer.
So instead of spending blindly on ads, manually approach your customers and see if they find your offer attractive before putting money into ads again.
Otherwise, if you have an audience problem – then it’s time to look at targeting a lookalike audience. A lookalike audience is a way to find audiences that closely relates to your best customers. In short, people who might want what you have to offer.
To start, go into your Ads Manager and click on Audiences. This time, click on Lookalike Audience:
Create a lookalike audience of your best customers. You can select the custom audience list that you uploaded earlier.
Then choose the audience location and select the lookalike audience size.
- Lookalike audiences are great when you’re looking for similar customers in a different region or country.
- The lower the audience size, the more similar your audience is. Choose 1-2% to get more targeted audiences.
- Get more results on Facebook with these Facebook ad hacks by Larry Kim at MobileMonkey.
Scale your revenue today!
Facebook ads may be affordable today – but it can quickly get expensive if you don’t know what you’re doing.
It’s up to you now to try the three tips above and grow your business revenue.
And don’t forget to mention in the comment section below on your ninja Facebook ad scaling tactics we’ve missed.
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