Facebook marketing has, in recent years, become one of the most valuable tools for growth-oriented businesses to tap into. You can gain rapid growth for your business and boost ROAS with Facebook ads and see a tremendous increase in engagement and conversions.
The Facebook platform holds 2 billion monthly users that is a huge market to tap into, making it an invaluable resource for gaining audience reach and stimulating conversion. However, optimizing advertising campaigns may appear complicated but it really isn’t, if you know what to look for among the many options available for identifying and interacting with customers and stay on top of social media trends as we do at Social Motto Detroit. To help you see the trees through the forest, here are some of the best ways we have proven to return (ROAS) with your Facebook marketing budget.
Our Experience with Facebook ROAS Optimization (Return on Ads Spent)
If you never have created a Facebook ad before why don’t you read our post on how to create your facebook ad first and then circle back here.
When it comes to Facebook advertising and ad what we have experienced is that its not a cookie cutter approach for all brands and businesses, you need to shift your focus from what other brands are doing and focus on what your target audience is doing and what interests them and motivates them to an action or your business goal. It doesn’t matter if its a follow us, or buy, or contact for consultation its all the same. It’s all about laser focusing your knowledge and understanding of your customers and creating facebook ads that catalyze and action for them. We get it there is so much noise out there “videos are king” “images are the best strategy,” “retarget, retarget, retarget” I hate to burst the social media bubble but sorry a silver bullet approach just doesn’t work to Boost ROAS with Facebook Ads, you need to really understand your customers and that’s it.
What you need to look at is whats available in your toolbox and find the right tool for the job. Facebook is a tool and so is content, so are videos, so are images the superpower you need to have is to understand your customer persona and Hubspot has an amazing tool for creating a very basic and simple customer avatar “Persona” and it is called make my persona.
Before any social media strategy is implemented your customer persona must be complete so we highly recommend doing that first otherwise your just wasting time, money and resources and won’t see a ROAS.
Don’t worry, I’ll help. Here are ten strategies you can use to improve your ROAS with Facebook Ads.
Here's Exactly How Boost ROAS with Facebook Ads
1) Always Target Based on Warm Audiences
When seeking to use resources efficiently, it’s always best to target “warm” audiences. These are audiences that have interacted with your brand or business in some way before. This may be through page engagement, website visitation, or adding an item to the cart. The key here is that they know who you are, and have shown a clear interest in what you provide.
Warm audiences contrast with “cold” audiences, who have had no prior contact with your brand. It’s possible to target these cold audiences with low-cost reach campaigns, but this depends on the effectiveness of your research and guesswork. Once you can identify a demographic receptive to your marketing, try and drive traffic to your site to gain a better idea of who’s willing to purchase.
The biggest issue with warm audience targeting is that sample sizes are limited, which places constraints on the scalability of your advertisements. As soon as you identify a warm audience, create lookalikes from this custom set to reach a broader group of potential customers who have demonstrated similar interests. Additional categories can be defined within lookalike audiences for even more specific results.
A lookalike audience’s accuracy increases based on how large the “seed” is that it was created from, so it can be difficult to extrapolate from a “hot” audience. Hot audiences have already purchased, making them the best representation of the consumer demographic willing to engage with your business. If you have a large enough hot audience sample, creating a lookalike audience based on it can be very effective.
2) Use Facebook Pixel to Gain Information
Before starting any Facebook advertising campaign, it’s key to gain insight into the market you’re trying to reach. Facebook itself offers a tool to do this known as the Facebook Pixel, which is a piece of code that you can implant into your website to identify the users that visit. If you have no coding knowledge, don’t fret – the necessary snippet can be easily copy-pasted into the header of your website. If you use a service like Wix and cannot directly access your HTML, most providers have options for integrating a Facebook Pixel. Make sure you put the Pixel on every page, or else the data you gather won’t be as comprehensive or useful later on.
Once this bit of code has been added to your site, Facebook will automatically identify and mark users based on the actions they performed. It’s then easy to create custom audiences of people who showed interest by visiting your home page or checkout page. However, this isn’t all you can do. For example, you can make audiences of people who visited your checkout page but not your purchase confirmation or thank you page, meaning that they were just a hair’s breadth away from buying. By honing in on demographics based on the data you obtained from your Facebook Pixel, it becomes much easier to gain a representation of who’s willing to purchase.
3) Always Split Test Different Combinations
When developing advertisements, it’s best to come up with 2 or 3 variations based on the same theme. Then, separately assess the profitability of each sample, and divert resources towards the best-performing material. It might be tempting to pour advertising dollars into whichever ads appear to be generating returns, but without comparison, a greater part of the picture is lost. By testing the waters with these different variations, it becomes much easier to identify the single most effective media for your target audience.
Don’t limit your testing to the advertising material itself – try to assess the responsiveness of different demographics as well. Create custom audiences targeting different genders, ages, and localities to find the most optimal group to target. Consistent split testing is nearly always worth it in the long run, especially if your results end up wildly differing from your expectations.
If you split test a profitable ad set, always duplicate the set rather than change the set itself. Facebook’s algorithms tend to cope poorly with changes, meaning that modifications to already successful advertisements may upset your results.
4) Automate Ad Budgets for Efficient Scaling
Checking the success of all your ad sets and modifying budgets manually can be very time-consuming, especially when you have a lot of them. With Facebook, it’s possible to automate your spending allocation to favor overperforming advertisements and curb underperforming ones. This is possible through rules, which can be created through the ad manager. Try not to scale any one ad set more than 15-25% daily, as increases in the budget do not correlate one-to-one with increases in traffic.
After you’ve selected the sets that you wish to expand on, set a condition for purchase conversion cost based on your needs, and let Facebook do the hard work of resource distribution for you. Different businesses have different cost points for profitable conversion, so determining this will take some experimentation. If so desired, it’s possible to cancel or reduce the budget of ad sets with too high of a cost per purchase. Furthermore, specify a time range of at least 3 days to ensure that results are consistent and accurate.
Remember that the reason that all this comparison is necessary is to ensure effective split testing. This may be the most important rule to produce good returns from Facebook advertising. Split testing allows you to identify effective trends, which can be converted into much more profitable campaigns in the long run.
5) Direct Your Ads to Promotional Campaigns
Although it may seem obvious to link Facebook ads directly to your website, this is not necessarily the best way to get purchases. Rather, create a dedicated landing page for your ad that creates a greater sense of interest and urgency. Several different platforms exist for this purpose, including Clickfunnels and Leadpages. These services require little to no knowledge of coding, making them accessible regardless of technical background.
Try to include a timed promotion on this page with visuals that incentivize the customer to act now. This may be in the form of a countdown or a bold headline stating a limited number of discounts are available. Be creative here, and try to tailor the landing page to suit your brand. Always use colorful and vivid background visuals, preferably with smiling human beings, as these have a natural tendency to capture attention.
The most important thing to do with your page is to capture names, phone numbers, and emails. You should always have a central field on your page for this exact purpose since the information you’re able to capture here can be used in future targeting and outreach. After leads fill out this information, it’s a good idea to redirect them to a thank-you page offering additional incentives if they take immediate action. Driving leads to act “now” is important to prevent the up-front impact of your advertisement from diminishing with time.
The Wrap Up
Succeeding on the Facebook Platform Despite the complexity of the available options, improving advertising returns on Facebook is a very formulaic process. Never invest without having a solid idea of your target audience, and always gather data from Pixel before concluding what this audience is. Adjust your ad sets based on their performance against each other while using automation for efficiency. Make sure that each advertisement acts as a cohesive funnel that brings leads to an effective landing page.
Effectively marketing in the digital age is not as difficult as it may seem. With a solid grasp on these fundamentals, the vast market offered by Facebook becomes available to anyone willing to take initiative.