Optimizing Facebook ads for success and better ROI in 2017

According to reports from Facebook, the platform boasts over four million advertisers with 70 percent of Facebook’s advertisers coming from outside the United States.

Every year, the average business spends thousands of dollars on Facebook ads but has little or nothing to show for it. If this is true for your business, what can you do about it?

I am sure we all understand the basic rules for successful Facebook advertising:

  • Use a benefit-driven headline
  • Use only CTAs that resonate with your business
  • Use eye-catching images (try Facebook’s stock images)
  • Remember the Facebook 80/20 rule in ad sets.

But in this article, I want to dig deeper into your campaign to fix possible leakages and faults in unsuccessful or unyielding campaigns. There is no magic wand raining huge conversion numbers, but applying the tips below can strap your campaign for success in 2017 and beyond.

#1: Understand how Facebook Ads compare to other types of PPC

It is a generally accepted fact among marketers that Facebook ads have more potential than Google Adwords.

For Google Adwords, people search, get to SERPs, click and buy if they choose to, but with Facebook, you have the ability to target customers who are not actively searching but will be interested in your offer with custom audiences.

Armed with the above information, advertisers know that cost per click is cheaper on Facebook than for Adwords. Another blow to the difference in both platforms lies in the user base of Facebook and other PPC networks.

Finally, in highlighting the differences between Facebook Ads and other PPC networks, the ability to target certain demographics, choose an audience, lookalike audiences and more trumps other advertising networks.

So when planning to run campaigns, hire an expert on Facebook ads to lead the campaign; this will save you wasting dollars and yield better ROI in the long run.

#2: Beware of low Cost Per Conversion

Be wary when your ad reports, deliver numbers in which conversions and clicks are close. Most times in an expanded view of the report, the number of actual conversions is different from what you see.

Facebook pixels can show an actual figure of your intended conversion metrics in your ad manager, but categorize your report into separate conversions to get a real time figure of your desired conversion rates.

The new Facebook pixel combines the “Custom Audience Pixel and Conversion Pixel” into a single, powerful pixel which can be misleading if you have no idea of what to track.

To give your ads, a boost in results, run split tests to determine the best time to run ads, the right images, text to be used based on your target audience then track only one conversion pixel in your ad.

Tracking more than one pixel per ad can deceive you into thinking your ads are converting cheaper than expected, whereas Facebook combined all conversions into your ad manager. When running ads with multiple conversion pixels, look at every type of conversion and not the entire number of conversions.

#3: Tag your URLs

A/B testing Facebook ads is among the best practices in creating successful ad campaigns. When selecting ads to run with your campaign, tagging your URLs with special characters will aid in identifying which ads are converting the most and which should be terminated.

Data from tagged URLs can show the customer’s journey down to the campaign’s target destination. According to Facebook, you can add tags to your ads’ URLs, but you will need a third-party analytics tool to track the results.

To add tags to your URLs on Facebook, do the following:

  • Create a new ad campaign or edit a draft.
  • Fill in the required information at the “Campaign and Ad Set” levels, cross to the “Ad level” and set your URL tags.
  • In a section, you will find URL Parameters which is where you add your customized tags.

#4: Optimize for the conversion funnel

Before launching an ad campaign, a campaign objective has to be drawn and pursued. For instance, if you are running ads to boost product sales, then metrics to measure success will be; the total number of sales compared to the cost of ad per sale.

To gain ROI and launch successful campaigns, the campaign should be started with the end of the conversion funnel in sight. The campaign should be designed for your custom audience using images, copy that resonates with your target audience, it is advisable that the ad and landing page should look and feel the same.

Finally, each ad should be modified to achieve goals and meet the most important metrics in your ad report. The most important metrics to track in most cases will be:

  1. Number of conversions
  2. Cost of conversions.

 

Eimantas Balciunas is the CEO at Travel Ticker.

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