I’ll be giving you four important tips that will help you to increase your conversions rate, decrease your cost per action, whether it’s clicks, conversions, leads or brand awareness or reach. These tips will help you to decrease your cost per action and overall you will be able to maximize your return on investment and get the most out of your ad campaign budget.

 

CONDUCT A /B TESTING

Facebook has this feature that allows you to split test your campaign and it allows you to test different variables so when it comes to split testing you are able to select target audience as your variable.

You can choose delivery optimization, placement or ad creative as your variable.

How to Optimize Your Facebook Ad Campaigns

The advantage of Facebook split testing is that it allows you to optimize your ad campaign based on data. let’s say you want to figure out your campaign performance and you want to compare your custom audience versus look-alike audience then you can run a Facebook split test and in one ad group you can choose your custom audience and in the second ad group, you can choose your look-alike audience.

Based on which ad group performs better you can then create your next campaign and choose the winning audience so that you get the maximum results. 

In terms of delivery optimization, Facebook provides optimization for Link clicks, landing pages, and conversions. You can create three different ad groups one focusing on link clicks, the other one on conversions and the third one on landing page views.

You can try out three different delivery optimization method and you can find out which delivery optimization method is giving you better results for your marketing campaign.

The placement split testing will allow you to compare different ad placements. Let’s say you want to find out if Facebook newsfeed is working better for you as compared to the Instagram newsfeed.

Ad creative testing will help you to optimize your headlines whether you want to try out video versus image ad or it can be  trying out different descriptions, so ad creative is mostly to find out which ad format and which ad creative type is going to resonate with your audience. 

With Facebook split testing, you can find your best-performing ads, audiences and ad placements.

How to Optimize Your Facebook Ad Campaigns

REFINE YOUR AUDIENCE TARGETING

Refining your target audience allows you to reach a highly relevant audience that matches your business needs and increase the chances of conversions.

Facebook provides a bunch of detailed targeting options. You can include multiple parameters to refine and exclude categories to get the most out of our campaign budget.

MAKE USE OF CUSTOM AND LOOK LIKE AUDIENCE

A custom audience is something that you can create out of your existing customer database.

You can upload your existing CRM database to Facebook and use this audience for your next campaign.

Look-like audience is basically asking Facebook to find out similar people based out of your custom audience.

How to Optimize Your Facebook Ad Campaigns
How to Optimize Your Facebook Ad Campaigns

RETARGETING

Re-targeting is one of the best ways to maximize your return on investment because you are showing your ads to users who are familiar with your brand product or service.

let’s say someone visits your website, they spend some time and then they exit, using Facebook pixel you are able to retarget your website visitors and show them an ad on Facebook.

The reason it works well is that they have already been to your website, so they know what your business is about and when you retarget them, you’re actually retargeting a warm audience. 

Retargeting will help you increase your conversion rate and it helps to increase your brand recall because it targets a warm audience and people will be able to recollect your brand. 

Here are some ways to create retargeing / Facebook custom audiences:

  • CRM Database – Your Current Customers
  • Website Visitors – Using Facebook Pixel 
  • App Activity
  • Offline Activity
  • Engagement – Engagement on Your Facebook or Instagram Content 

INCREASE YOUR RELEVANCE SCORE

Relevance score is Facebook’s measure of quality and engagement level of your ads

It is similar to Google ads Quality Score.

After your ad gets like 500 impressions, Facebook will get a sense of how likely people are going to engage with your ad and if it gets a lot of positive clicks engagement and interaction, Facebook will give a score out of 0 to 10 for your ad.

How to Optimize Your Facebook Ad Campaigns

 

If your relevance score is less than 3 then your ad won’t be reaching more people. You are going to spend more money to reach people and overall your campaign performance is going to go down.

If your relevance code is 7 and above it’s fantastic. It means that your ad creative is great, you’re getting good click-through rates and you are reaching the right audience. This will help you in ad delivery and your cost per action is going to go down.

audience overlap

Many times when you create multiple ad sets and each of those ad set are targeting the same audience, you will end up creating an “audience overlap”.

This will force you to compete among yourself since there are more than one ads from the same advertiser entering the auction.

How to Optimize Your Facebook Ad Campaigns

You can find an audience overlap by logging into your audience manager, select the audience tab, click on actions, then choose audience overall tool. 

Facebook will give you a graph and it will tell you how much percentage of audience B is overlapping with the audience A. You will be able to understand what is the audience overlap percentage and if it’s high, it basically means that you are actually competing with your own ads and that’s gonna drive up your cost.

One of the ways to avoid this situation is to consolidate your overlapping ad sets. The other option is to refine your targeting so that you don’t use the same audience in multiple ad sets.

Download the full powerpoint presentation! Fill out the form below and get instant access.

Let’s Chat

Subscribe and learn!

Transforming Your Digital Marketing Strategy.