1) A/B Testing
The more you split test, the better results you’re going get with your Facebook campaigns. Not only will you get better results, but you’ll also be spending your ad budget a lot more wisely.
But what is A/B testing? Well, its essentially the method a marketer uses to test different campaign elements against each other. Say when you built out your campaign you had 2 images, 2 headlines, and 2 ad texts. When you split test you can run each component against each other to get the optimal combination.
Now you can’t be making informed decisions after only a day or two. This process takes at least 4 days to a week of data. Once you have the optimal combination of creative assets, you’ll see a drastic increase in campaign performance.
Without split testing or A/B testing, you’ll never know why a campaign failed or is underperforming. Often times, simply switching off ads using a certain image or headline can turn a dude of a campaign, into an evergreen, successful campaign that can really scale up your business.
2) Know your numbers/know the right KPIs
You can’t manage what you don’t measure. Educate them on what you should be measuring and what the numbers really mean. The problem with Facebook ads is there are so, so many numbers.
When you export your spreadsheets in Facebook business manager these numbers can overwhelm anybody, especially those who aren’t familiar with marketing KPIs.
We suggest you look at the most important numbers and set benchmarks for digital marketing success.
The first number we show clients is the CTR or “click-through rate.” This is the percentage of people who saw your ad and actually clicked on the ad to learn more about you and your brand. To get this number to divide your clicks by your impressions. For example, if you had 15 unique clicks and 100 ad impressions your CTR would be 15% (which would be amazing!)
Cost Per Aquisition
Next look into your frequency, your CPA, your revenue, your total link clicks as well. Your ad frequency is the average number of times your audience sees your ad. On average once your frequency is at or near 10, it’s time you refreshed your campaign.
CPA or cost per acquisition is the number that shows how much it cost per lead generated. Once you know how much it costs you to generate leads, you can set benchmarks in your advertising.
This way you can tell if you’re spending too much on a lead, then you can change up your campaigns and optimize the best you can to reduce your CPA.
Your revenue is quite self-explanatory. If you have your pixels set up correctly, you can actually track exactly how much revenue your Facebook ads have generated. This way you can tell if your Facebook campaigns are getting you a positive ROI.
Need help setting up proper conversion tracking on our site? Contact our team for a needs assessment today.
We specialize in digital marketing, from setting up and launching campaigns to getting your site up to date with proper conversion tracking pixels so the metrics are clear, understandable, up to date and relevant to your business.
Impressions and Clicks
Last but not least is your total impressions, and your total link clicks number. Now link clicks are exactly what it sounds like, the total number of link clicks your ad has received. When you use this number paired with your CTR, you can see how effective your ads are in terms of garnering attention and interest.
Impressions are the number of times people in your target audience has seen your ad. Not to be confused with frequency, which is how many times on average the audience has seen your ads.
When you are getting a lot of impressions, but no clicks you can narrow down why your campaign isn’t working – the ad is not effective and people are not interested! Pivot and update your ads when this happens.
3) Take that long view
We all want to grow business with Facebook ads. What you need to know is this simply can’t happen overnight after you launch a campaign. You probably won’t get the results you want right away.
Don’t get wrapped up in the analytics you’re seeing in the early days. If you’re seeing revenue, and you’re driving clicks to your website you’re campaign is doing great in the early stages. Don’t be looking so in-depth in the Facebook attribution and start cutting ads.
We get wanting to pivot and change early on and improve campaigns but you have to be patient. Once you start pausing certain ad variations it’s very easy for your campaign to crash and burn.
What smart businesses do with Facebook ads is to set benchmarks. A lot of the time they often just try to break even in a campaign’s infancy. As long as your getting leads in, driving clicks and getting valuable data your ads are working. The sales will come through a proper marketing funnel. Don’t worry too much about the attribution if things are working.
The Marketing Funnel
We really want to make it clear that you have to have realistic expectations and ensure your advertising respects the AIDA marketing funnel. People need to go through a proper buying journey before making a sale. For this reason, you want to plan your funnel before launching a campaign.
Start at the top of the funnel, or the awareness stage. Build out a brand awareness campaign that introduces prospects to who you are and what your business is all about.
Next, pique your target market’s interest. You can do this by giving them some kind of “free” value. Often times we see successful brands give people free checklists, or drive traffic to blog posts that answer common FAQ’s.
Once they have garnered interest, it’s time you build your target market’s desire for your business. In this stage, you have to really have to give them some desire for your brand. We see successful brands often retarget those who downloaded a checklist or viewed certain blog posts with testimonial videos of customers who we’re helped thanks to their product or service.
The final stage is when the prospect takes action. This is the part of the funnel where your prospect really likes what they’ve seen from you. They are interested in your business and have a desire to make a purchase (or convert in another way.)
This is when you can offer the prospect a free trial of your product or service. You can also give them a free demonstration. At this point, your prospect is essentially your customer. Treat them as one! Give them support, give them free how-to videos, access to a product 101 course. If they feel supported, it’s quite likely they will become a paying customer.