How to Optimize Facebook Ads for Better ROI
Looking for more effective ways to optimize your Facebook ads and receive a better return on investment? Then, read on because Easy Media will show you how you can get more profitable results through our winning optimization tricks!
Digital ad campaigns allow brands to reach more people without spending too much advertising dollars. However, you need to keep in mind that they are still a long-term investment just like any other type of advertisement.
If the results you want don’t show immediately, there’s no need to be stressed out. All you need to do is optimize your ads continuously.
Optimization Tips for Facebook Ads
Facebook has more than 2.8 billion active monthly users, which makes it as one of the best places to find more potential customers. However, just like other marketing campaigns, how well the Facebook ad campaigns work will depend on whether you have a winning strategy or not.
If you don’t know how to optimize your ads the right way, your marketing budget will just go down the drain. On top of that, your potential leads will just pass by.
Here are some effective optimization tactics that you can use to have highly-targeted campaigns:
1. Learn more about the key metrics
It is important for you to learn more about the key social media metrics, because without them, you won’t be able to assess the performance of your ads correctly. Other than that, you won’t be able to identify if your campaign efforts are working towards your goals, too.
Improve your campaign results through data-driven approach – that’s how you optimize ad campaigns. Here are the data or metrics that serve as benchmarks in tracking your ad performance:
- Frequency. This shows how many times a social media user saw your ad on their timeline. You can measure this by dividing impressions by ad reach. This will help determine how effective your targeting tactics are, and prevent your campaign from showing too often to the same user.
- CPA. Cost per Action allows brands and advertisers to pay for certain actions taken from Facebook ads. For instance, an app brand is more interested in knowing the cost per install of their app rather than its cost per click.
- Conversions. For every conversion, your business earns revenue, which is equivalent to a metric called conversion value. To measure your Return on Ad Spend, you need to get your total conversion value and divide it to your advertising costs. If the result is high, it simply means that your campaigns convert successfully.
- ROAS. When your target audience clicks the CTA on your ad, conversion happens. For instance, if you want people to visit your website, you need to count the conversion where an audience visited the site because of your ads.
- CPC & CTR. Cost per Click will show you the real cost of an average click, which should be kept low as much as possible. Click-through Rate, on the other hand, tells how many audiences clicked your campaign, taking them to the attached landing page or form.
2. Choose the right campaign goal
You should understand the structure of Facebook ads first before digging deeper into your optimization tactics. The first step in ad creation is setting it up and choosing its goal from the standard list.
Always remember that the objective you choose will help identify the optimized delivery of the Facebook ad sets you build within your campaign. So, determine your goals clearly.
Here are the three stages that you will find in the marketing funnel:
- If you’re a business who plans to expand to a new location or a startup, selecting the campaigns under this funnel is the perfect choice for you. This will make your brand familiar to a wider group of audience and help generate interest.
- The objectives in the Consideration funnel work towards encouraging your target audience to connect with you and learn more about your business.
- If you want to drive more conversions, you should choose the objectives in this funnel. It will allow you to select between an application, website, WhatsApp, or Facebook Messenger as the destination to track conversions.
3. Know your target audience
Customize exactly who sees your ads – this is the key to attract the right people, and possibly gain more conversions.
Your ads may have different goals, but you need to specify every audience segment that you want to engage to align your overall communication strategy better. That’s why it’s a great idea to spend time in audience customization for each ad.
When tailoring your audience, you have to include their characteristics and demographics so that they will see your ads often on their timeline.
Adding exclusion parameters are essential, too, if you want to maintain your ad budget to a minimum. To save more, assess the audiences who won’t benefit a lot from your ads, and remove them by customizing another audience list.
4. Set up your ads
Take note that even slight differences in the way to create your Facebook ads can impact their overall performance. So, make sure to set each one of them right. Use relevant keywords, especially on your headlines. This tactic will make your content more relevant while contributing to your SEO initiatives.
Here are some key points for you:
- Select the right and appropriate format for your campaigns
- Include a compelling headline, description, and call to action
- For ads that offer free e-book, template, or other lead magnets, you should include a “Download Now” button
- Strategize your ad placements – you can put your ad on the Facebook feed, Messenger Inbox, or Instagram Stories
- Use A/B Split testing
- Schedule the delivery of your Facebook ad sets and control your budget
5. Monitor and optimize
Track your campaign data to measure the real effect of your optimization efforts. Set KPIs based on your business goals, too, as they will serve as your basis to success. They will help you spot what ads aren’t working, allocate more budget to best-performing campaigns, adjust as schedules, and improve your content.
Optimize Facebook Ads for Better Return on Investment
Optimization of ads is a continuous process of trial and error. It is not a very easy and simple process, but when you learn how it works, you will definitely save a significant amount of ad budget and time in the long run. Drives more leads, sales, and improve your ROI with these optimization tactics.