Top 5 Ways to Optimize Facebook Ads for Better Results
Want to discover the scientific approach firms use to optimize their Facebook Ads? Unsure whether your ads are converting as well as they should be? Or whether you are paying exorbitantly? Well, don’t worry anymore. This article will outline 7 scientific methods you can use to optimize your Facebook Ads; just like industry pros.
Know Your Goal Right from the Start
Prior to launching your campaign, determine your objective and the right metrics to measure progress. Facebook is kind enough to request you to choose what your goal is prior to choosing a campaign on the ‘Create ad page.’ If you are a small business, it’s recommended using website conversion as your main objective. This allows you to see the cost of a new customer or lead. If you are able to pay lower for Facebook Ad than a new customer or lead is worth, then your campaign is running at a profit.
Segment Your Campaign
A huge trick in optimizing your Facebooks Ads is targeting the right audience. To achieve this, I normally break up my total range of prospects into small segments. I will then simultaneously run ads for each target Audience to see which converts the best. To be successful in segmentation, you need to ensure that your target audience does not overlap; otherwise, you will be displaying the same ads to the same audience multiple times. This will make you appear spammy and it will skew your results. I suggest segmenting your audience into groups of between 40,000 – 100000 people. You can then use Facebook Audience Definition Box on the right-hand side of Facebook Ad creator to see how large your audience is, and the effect each targeting option is having.
Monitor the Correct Performance Metrics
As I already outlined in Section1, the main metric you should keep an eye on is average value per client less cost per customer. You can monitor CPC, CTR and CPM to ensure they are not out of whack, but at the end of the day you should only make tweaks and changes to your Facebook campaigns based on the main metric not any other. However, if your campaign is meant for reasons such as, say, acquire more likes, then the metric you should keep an eye on is Cost Per Like. This number will be displayed by default on the Facebook Ad Campaign dashboard.
Utilize Lookalike and Custom Audience targeting
Seeking ways to enhance your click-through rates? Want a simple way to generate new sales? Lookalike and Custom Audience are your answers.
• Custom Audience Targeting: This approach allows you to display ads to certain people on Facebook on the basis of their Phone number or email address. Simply upload your list of phone number or email addresses and Facebook will search and match them to their users IDs on Facebook, making sure only the right prospects sees your ads.
• Look a Like Audience Targeting: Lookalike audience is just what it sounds like, a target audience generated by Facebook that matches the features of your generated phone number or email list. Facebook looks at demographics such as gender, location, age as well as precise and broad categories of your custom audience list, and then uses an algorithm to match demographics details with existing Facebook users and figure out the match for your next ad.
Lastly, Does Lookalike and Customer Audience targeting Work?
To grasp this, look at the following statistics from TechCrunch:
• An Ecommerce website that targeted their email list realized a 43% conversion rate increase in signups and 30% reduction in cost per lead.
• SocialCode realized that a campaign with a custom audience gave a 15% lower cost per like.
• OpenSky, in a lookalike campaign that targeted clients who had either never purchased from them or had not purchased in the last 30 days, realized 30% increase in conversion rate.
Apply these tips to optimize your ads. Also, feel free to tweet, share or comment on this post. We love sharing with our audience.