Running an effective Facebook ads campaign that will generate more leads and sales is the goal of any brand. It may sound easy however, without a winning strategy in place it will not get you the results you are looking for.
Facebook is one of the biggest online advertising platforms and has more than three million companies worldwide on its platform. They design Facebook’s algorithms for ad success, but you must set it up and execute correctly.
Key Metrics That are Involved
To optimize Facebook ads, you need to understand the key metrics. They will assess the performance of the ads and determine if you are working towards the goal. Here are several that you need to be aware of and understand.
- Frequency – This is the estimated number of times a single user sees your ad, calculated by dividing the number of impressions by ad reach. You can assess how effective it is with this metric as well as monitor over showing the same person the ad.
- Conversions – A conversion is when your target audience interacts with your ad and click on the call to action. If your desired action is for them to visit a landing page and they do because of the ad then it counts as a conversion.
- Click-Through Rate (CTR) – CTR is the percentage of users who click on your ad, taking them to the landing page or form. If this is a low number, then it tells you your ad is not of interest to your target.
- Cost per Click (CPC) – CPC tells you the actual cost of a click. As an advertiser, the goal is to keep this as low as possible.
- Cost per Action (CPA) – Advertisers can pay only for specific actions from the Facebook ad. If you want them to download an app, this will be the metric you are interested in.
- Return on Ad Spend (ROAS) – The total conversion value divided by your advertising costs.
Choose Your Marketing Objective
When you go to set up your ad on Facebook, you must choose a marketing objective from 3 options.
- Awareness – This objective is for creating brand awareness or reach ads. It is considered the top of the funnel marketing.
- Consideration – This is targeted towards enticing your audience to engage with you and learn more about your brand.
- Conversion – Your desired action is to convert them into a paying customer. It is about getting a commitment to buy.
Define Your Target Audience
Once you have your objective it is time to define who you are targeting. To create a Facebook audience you include your ideal customers’ characteristics and users who fir this profile become part of who sees your ad. Adding exclusion parameters is crucial to keeping your ad spend to a minimum by preventing audience overlap.
The key to saving on your ad budget is assessing all audiences your specific ads will not benefit and exclude them by creating custom audience lists.
The Design of Your Ad
Think about using targeted keywords in your headlines, which will contribute to your search engine optimization (SEO). Make sure that your ad has a compelling headline and description. Always include a CTA button that is aligned with your desired action.
Include photos, videos, or carousels, it needs to be visually engaging as well.
Split Test Your Ads
Split testing lets you fine-tune your ad by comparing different versions and testing them out against each other to see what works best.
Track and Optimize
The only way to measure is to look at the campaign data. The data will allow you to make improvements such as allocating more budget to your performing ads and adjusting the ad schedule. If you are not getting many clicks, then it is time to play with the content.
Closely tracking data allows your brand to optimize your ad components and overall performance.