Facebook advertising can be very beneficial, if used correctly. Many businesses find it a tempting as well as a challenging tool. If used wrongly, one can endup blowing a fortune for absolutely nothing. Here is a tried and tested checklist for digital marketing professionals who want to reap best results from FB ads for their clients.
- Define Your GoalClearly define your goal before starting off with your campaign. For instance, if you are want to increase online sales, it’s best to focus on conversions rather that opting for page likes. On the other hand, if you majorly aim at building online reputation, it’s best to choose page likes.
- Target Audience – ThicknessMake sure your target audience is not too broad. It should ideally be between 100,000 to 300,000 people.
- Lookalike Audience FeatureMake use of the lookalike audience feature when defining your target audience. Apart from this, specify the names of your competitors and fan pages that have similar target group as you.
- Role of Google Adwords
You can take help from Google Adwords. It’ll give you better data. Feed the URL of your landing page on Keyword Planner. Under Get Ad Group Ideas, go to Individual Targeting Ideas and select Placements. Here, you will get a list of websites and apps that have a similar target group. Plug the best ones in the Interests section when defining your target audience on FB ads.
- Split Audience Feature
Test your target audience using the split audience feature. It just allows you to change the age range and gender, but it can make a big difference.
- Customize Your Report
There are multiple columns that are flattering indeed, but you do not need them. They’ll only distract you from the real results. Lesser the columns, easier the assessment. Define your KPIs and let only those dimensions flash in your reports.
- Cost Per Conversion
Pay attention to cost per conversion. It should always be lower than your net profit per conversion. You can calculate your net profit by deducting the total cost of production (of the goods sold) from the total revenue generated. Divide the result by number of conversions made. If your CPC tends to exceed this amount, it’s better to restructure your entire campaign.
- Ad Score
Ad score should be above 7 at least. This will help you lower your costs and bag better visibility at the same time. Even if it means that you have to make changes in your landing page or your ad creative, it’s all worth it.
- Reduce Your CPM
Aim at reducing your CPM. In case you are testing different sets of audiences, choose the one with lower CPM (cost per 1000 impressions). Usually, the audiences with higher CPMs will have higher CPC (cost per conversion).
- Pay Attention to Bounce Rate
High bounce rate means that you are missing out on potential target group and so you need to shift your focus. It’s advisable to retarget your campaigns in case your bounce rate is higher than 35%.