According to a research facebook has almost 2.38 billion active users per month and which is why it has become one of the best ads platform. Facebook has different ads objective and targeting levels and if you’ve never tried facebook ads or have failed to optimize your facebook campaigns so this article will help you to run campaigns effectively.
Why optimization is necessary?
We all know that optimization is the process to get maximum results while utilizing the minimum possible resources and similarly in facebook you need to achieve maximum results at lower possible budgets. Ads optimization is necessary to control your cost while beating the competition.
The first story is to setup your facebook ads campaigns however, to improve your campaigns you need to optimize it which is an ongoing process and has to be done after analyzing the campaign’s reports.
Let’s get started:
1- A/B Testing
The best strategy to optimize your campaign is to run A/B test also called split testing. In A/B test you can test multiple variable such as headlines, titles, images, audiences, CTAs, demographics, ad copy and more however, it is recommended to test minimum 1 or maximum 2 variable in a single campaign. Once a test is run and campaign is completed to so you’ll have results and will get an idea that which variable has performed well so in the future you can use that results to setup the campaign.
2- Cost by placement
There are different placement available for facebook ads and each placement have different ad type/formats. If you’ve opted for automatic placement while creating the campaign so facebook will ensure you to serve your ads at maximum available placements such as: FB/IG News Feed, Audience Network, Stories, Right Column & more. Advertiser needs to understand the effect of each placement on cost and conversions. There must be some placement where your cpc and cpm will be higher with having a low ctr. If some placements are not performing and having lower conversion ratio with respect to the cost so you need to excluded those placement from the campaign/adset.
3- Budget and Biddings
Bidding Strategies and Budgets play an important role in ad optimization. Firstly, you should be clear about your budgets and cost per acquisition and have to setup the campaign accordingly. There’re two method to set your budget the first one is on campaign level which is called Campaign Budget Optimization (CBO) otherwise, you can set the budget on adset level. Advertisers can also allocate the lifetime budget for a campaign or can set a daily budget.
Bid helps you to identify how much you’re willing to pay for each conversion and it is one of the most important metric in optimizing the campaign which ultimately helps you to control the cost. The bid strategies depends upon the objective and goal of your campaigns moreover, it is necessary to test different bid strategies and continue with the lowest cost per action.
Digital marketing is not about assumption however, it is based on actual stats and analytics. We need to dig our reports deeper as possible to minimize the cost of objective. When we talk about campaign optimization techniques then Ad Scheduling or Timing is one of the most important factor by which we can optimize our cost per action and save budget from exhausting openly. We need to check the analytics and dig reports to know at what time we’re getting less clicks/conversions and what time our cost per action is high and optimize the campaign accordingly. Let’s suppose if you’re an online restaurant business and your operational hours are from 4:00 PM till 12:00 AM so it wouldn’t be effective to run your conversion campaigns all the day however, you will be getting traffic on website but you’ll not find any conversion due to non-operational hours.
5- Optimization by Device
Make sure a website including all pages should be mobile friendly. In last few years, we have notice that majority of the traffic is coming from mobile devices.
Don’t set and forget your campaigns, in digital marketing and analytics we can keep a track of each parameter. If you’re setting up a campaign then make sure from which devices you’re getting the lowest cost per action and exclude the other devices from which you’re not getting conversion. For an example, if you’re running a website traffic campaign and you’ve opted for all 3 devices i.e. mobile, desktop and tablet but eventually you’re observing the cost per action is high on tablet as compared to other devices so you need to exclude it from the campaign or set bids manually for each platforms.
Optimizing your paid campaigns have never been easier however, these are the few steps by which you can improve and optimize your campaigns. Nevertheless, there are so many other ways & practices by which the performance of the campaign can be improved but it surely depends how and when you use the right technique in campaign.
No matter what is the nature of your business but never afraid to test different strategies. In paid campaigns, marketers have the power to set automate the rule and spend the budget wisely. Keep an eye on analytics and each metrics regularly then take decisions based on your reports and optimize the campaigns methodically.
Want to learn more about marketing techniques? Read our new article about ‘Growth hacking & how it works’?