Facebook ads are wildly popular for brand building, and there’s no mystery why.
In addition to being where millions of people hang out online at any given moment, Facebook’s advertising algorithms can precisely target ad audiences, so that fewer dollars are spent on ads that show up in front of uninterested parties. That said, there is both art and science to getting Facebook advertising right. Fortunately, tools and analytics are widely available, both on Facebook itself, and from third parties. Here are five strategies you can use to optimize your Facebook ads.
1. Learn How Facebook’s Advertising Algorithm Works
This is not something you can learn once and for all time, because in order to keep up with a changing user base, Facebook’s ad algorithm evolves constantly. When a user visits Facebook, any of thousands of potential posts might show up in their News Feed. The algorithm arranges ads according to how likely the user is to interact with them based on:
Available ad inventory
A score is computed based on these factors that determines what shows up when in a user’s feed. The higher user engagement is with a particular piece of content or ad; the better Facebook is able to determine when and to whom it should be shown. Therefore, your ad content must be relevant, high quality, and presented to the right users at the right time.
2. Do A/B Testing
What you think people will respond to and what they actually respond to may differ, and that’s why A/B testing is critical for success in Facebook advertising. One way to test ads is to present the same ad to multiple Lookalike audiences (which Facebook can create for you). Learn which lookalike audience yields the lowest cost-per-lead to know how to better target your ads. Likewise, you could test two slightly different ads on the same audience to see which one resonates better.
3. Use Automated Audience Optimization
Enabling Facebook’s Automated Audience Optimization increases the likelihood of your ads reaching the right people. As long as your Facebook page has more than 5,000 likes, Audience Optimization is turned on by default and is ready for use. You can still use it if your page has fewer than 5,000 likes by clicking the “Settings” tab in the top, right-hand corner of your Facebook page and looking under the “General” tab for “Audience Optimization for Posts.” Activate it, and then hit “Save Changes” and you’re good to go.
4. Learn to Use the Facebook Pixel for Effective Ad Retargeting
The Facebook Pixel is a snippet of code you place on your website to help you track conversions from your Facebook ads. With it you can also remarket, or show targeted ads to people who have already visited your site outside of Facebook. It’s great for reigniting interest in abandoned shopping carts, and the data collected from using the Pixel helps Facebook build optimum lookalike audiences so you can expand your customer base. In short, the Facebook Pixel helps you improve your overall marketing and target your ads more effectively.
5. Define Target Personas Clearly and in Detail
Buyer personas are semi-fictional versions of your “ideal” customer based on data you have collected and your marketing research. The more you know about your target audience’s...
Household income and size
Online purchasing behavior
Preferred spending methods
...the easier it will be for you to start out targeting ads effectively, and the easier it will be for Facebook to add its own insights to help you target audiences even more effectively. Facebook’s Audience Insights tool is invaluable for helping you define target personas so that your ads are optimized.
Learning how to use Facebook Advertising most effectively does require climbing a learning curve, but the payoff can be tremendous. Learn to optimize your Facebook ads and you can boost ROI for your marketing and branding investment and set the stage for future growth and expansion. Hangar12 is at the forefront of CPG marketing strategy and more. Subscribe to our blog to stay up-to-date with our latest insights.