Facebook is one of the most popular social medial platforms. As the biggest online advertising platform, it has millions of active users all around the globe including small businesses and brands. This platform has the potential to take a brand to next level with online ads. These Facebook ads are not expensive, and brands post content to promote their services or products to drive traffic towards the website and boost conversion rates.
You don’t need to be a Billionaire Company to successfully advertise on Facebook. Without an expert team, it’s difficult for all small brands to meet their ad potential. For example, a common mistake many brands do is boosting a post instead of creating an ad. Boosting is a swift way to get maximum reach on your Facebook post. However, most small businesses are not aware of how to optimize Facebook ads.
Facebook algorithm is designed for ad success. You invest time and money in generating effective Facebook ads and want to get an advantage from the ad budget. You can optimize Facebook ads by:
- Understanding the key metrics
- Choosing the ad objective
- Defining the target audience
- Designing and testing Facebook ads
- Tracking and optimizing campaigns
Understand the Key Metrics
To optimize Facebook ads, a data-driven strategy is followed by improving the campaign results. You should be an expert in ad performance assessing and define your advertising strategies to meet business goals. The following key metrics assist as a benchmark in considering the campaign performance:
In conversion, the target audience interacts with your ad and clicks through call-to-action. If you want to visit the website, you will count the conversion when a user visited your site directly from the ad. So, conversion rate optimization is a key for all elements of your website including ads.
Frequency stands for the estimated number of times a user sees your ads. It is calculated by dividing the number of impressions by ad reach. It helps to know how effective the targeting approach is and how to avoid showing an ad to the same user again and again.
CPC and CTR
Click through rate (CTR) is the percentage of users who click ads, leading them to the form or landing page linked to it. When it is low, it means more people are not interested in your ads. Whereas, cost per click (CPR) tells the actual cost of an average click.
Return on Ad Spend (ROAS)
Conversion value is equal to the revenue that a business earns from conversion. ROAS is the total conversion value distributed by your advertising cost. The more ads lead to the conversion, the more ROAS of your brand will get.
Choosing the Ad Objective
Before getting into details, it’s imperative to know the Facebook ad structure. The first step of ad creation is setting up the campaign and select the objectives to form an available list. The essential factors to consider while selecting the ad objective are:
Campaigns under the awareness objective are usually for fresh brands or businesses growing to a new location. You will choose brand awareness as an objective if you make the brand known to more audiences.
These objectives are targeted keywords that entice the audience to engage with the brand. For instance, the lead generation objectives help you to build unique Facebook ads with built-in lead-capture form.
When your target audience is in your lead pool, you can convert them into a potential customer. The conversion objective enables you to choose between a website or application to track the conversion on your ad.
Define Target Audience
All campaigns have an objective, but you need to identify that every audience segment should according to your strategy. It’s a great idea to invest time customizing your audience for every single campaign. Here are the multiple ways to define your Facebook ads target audience.
You can set up various parameters such as audience location, age, and gender following the Facebook policies. Facebook offers a panel to check estimated results and making changes as per demographics.
Facebook gathers the users’ interests and behavior due to its unique algorithm. For example, Facebook can identify fashion freaks and cricket lovers. Any reputed firm advises targeting the most likely group to access the campaign performance better.
You can target users who have interacted with your brand with a custom audience. Facebook records this via Facebook Pixies- a tracking tool.
Design and Test Facebook Ads
Every element of your ad impacts your ad and its performance. Using relevant keywords in headlines keeps the content engage. SEO optimized ads are tested consistently, and the key points you should focus on are:
Choose the Right Format
You can select from the available ad formats based on what displays your services best. These formats include videos, photos, or stories. Make sure to complete your ad with a persuasive description and title to grab the audience.
Plan Your Content
A ‘download’ button in a Facebook ad offers a free template. When choosing your media, select stock image or Facebook Dynamic Creative Tool that customizes creative variations. It helps to make your content well-planned.
Strategic Ad Placement
Facebook allows you to select your ad placement. The available placement such as Instagram stories, Facebook feed, and Messenger inbox will base on your goals. It can be chosen manually or automatically through tools.
Control Ad Budget and Schedule
It’s essential to control the budget and schedule of your ad. When you set up a budget, you control media budget allocation. You drive improved results by showing your ads during peak Facebook hours or specific hours for integrated results.
Track and Optimize Campaigns
The only possible way to measure the impact of optimization is to consider campaign data. Your expert team needs to specify key performance indicators based on business objectives. These metrics help to know whether the campaign is successful or not.
Your campaign data helps to know how to optimize Facebook ads, get desired results within a specified budget, and show ads at the most appropriate time. For Facebook lead ads, your data might show that the user clicks your link but does not reach the lead-capture form. It can be an indication that your Facebook ads had man form questions. Tracking data in depth enables your brand to optimize Facebook ads and overall performance.
There are numerous benefits of using Facebook ads in your marketing strategy. When used correctly, you can drive high-quality traffic, conversion rate, and profit. But, to generate maximum profit, you need to know how to optimize Facebook ads effectively. For this, all the above-mentioned information can help you to achieve desired outcomes.