Facebook had proven its value as a digital billboard with thousands of companies and businesses investing in advertisements on the platform. As Facebook usage continues to grow, its advertisement abilities have become one of the most effective ways for brands to establish themselves and reach a customer base. Businesses that have experience with Facebook advertisements have reported higher conversion rates and sales. The landscape of Facebook advertising continues to change, and potential users should be aware of how to increase the effectiveness of their advertising investments.
1. Campaign Budget Optimization (CBO)
In 2019, Facebook made Campaign Budget Optimization a mandatory aspect for anyone marketing on their platform. Marketers therefore need a strong understanding of how it works and how they can organise their ad campaigns to include it. Some may find the system off putting as the user has a reduced amount of control over their ad campaign. Typically, users would determine the overall campaign but set a budget for each of the ads sets they are creating, organizing each ad set by their target audience and expected reach.
However, with Campaign Budget Optimization, the budget is set at the campaign level and Facebook’s algorithms decide how much to allocate to each ad set. After a period of adjustment and audience testing, CBO tends to give good results for advertising, with the added bonus of not having to micromanage each add set. Having said that, users should focus on learning as much as they can about the process to be able to optimise it for the maximum performance of their specific campaigns. CBO is particularly good for less experienced advertisers or those with smaller budgets as CBO manages the budget and is more efficient with how it is spent. There are plenty of CBO training and instructional resources for users to study to get to grips with the new system and become a CBO master.
2. An Audience of Individuals
There will hopefully be a wide audience that gains access to your advertising campaign. Every single person in that audience will have a varying amount of interest in your service, varying levels of intent to be and a unique impression of your business. That’s why it’s so important to treat people accordingly and make them feel appreciated, listened to and not just a potential cash cow. Audiences can be separated into groups. There will be those that are low interest, whereby showing them a repeat of the original ad campaign might spark their interest. The next category up is the engaged but not committed. It would not do well to plague them with the same marketing content as they may find this annoyingly persistent.
Alternatively, they can be nudged in the right direction with reinforcement marketing like customer testimonials and reviews without being too sales heavy. Your final group, and those most likely to buy, are the high engagers/high interest group. This includes those that have added the item to the cart without purchasing or who have spent a long time looking at a product. Here, a friendly, non-imposing reminder is the perfect tool to achieve results. Additionally, if users from this group show further hesitation, they could be offered a discount or deal to encourage sale completion and nurture a good customer relationship.
3. Broad Targeting
The target audience for an advertising campaign is completely unique to the company and product. This is true for both the demographics and size of the audience. While targeted marketing has its merits, it often narrows the audience for marketing considerably which could have its drawbacks.
For example, a targeted audience may be more likely to interact with your advertisement and service but they are likely to only interact with a limited number of times and then the advertising campaign will be obsolete. Broad targeting reaches many more people and has the potential for a greater response overall. For small companies that operate only in a specific region, targeted marketing is perfect, however, for larger companies, targeted marketing may limit the audience you are being recommended to. Additionally, targeted marketing comes with increased advertising costs and a lot more work.
4. Keep Your Competitors Close
Facebook’s previous issues with privacy issues and advertisement transparency have led to the development and introduction of the Facebook Ads Library where users can search a database of ads currently live on Facebook.
Using this handy tool, advertisers on Facebook can look up the ads that their competitors are running. They can see which ads are live, and how long they have been running and presumably successful. From this information, they can try and identify what makes these advertisements so successful with the target audience and use this information to influence their own advertising campaign.
5. Creative differences
In an ever more aesthetic online environment full of filtered images of landscape paradises, influencers and fashion, it’s vital to focus on a clean and attractive ad campaign for any service or product. Targeting failures can be overcome by brilliant creatives which is why companies should spend the time deciding exactly the impression they want to create of their brand and service product.
Once decided, they should find the creatives to match by hiring creatives that can effectively understand and execute their vision. The creatives include the images, videos, stories, logo and copywriting. All of which must reflect the brand and entice customers. An aesthetic reboot can increase conversion rates dramatically along with the return on investment and a decrease in the cost per action.
6. How to Use Video
Videos can be used by companies both as a marketing device and research tool. They are one of the cheaper options for marketing and don’t require any targeted marketing. Humans’ attention span has been dropping significantly with the availability of information and the onslaught of marketing. In 2000 the average attention span was 12 seconds, whereas in 2019, it had fallen to under 8 seconds.
Therefore, the ideal length of video is 10-15 seconds long. This may seem counter-intuitive, but the strategy is to let your audience divide themselves into groups of interest, so you know who to target with what follow up advert sets. Those that view the video from 90% – completion have shown a high interest and advertising campaigns can be retargeted to them as well as lookalike audiences.
7. Use Instagram Stories
Facebook purchased Instagram in 2012 and it has since become a $100 billion-dollar platform with the highest engagement of all social media. Businesses should of course be set up on Instagram with a specialised account posting images and stories to followers that represent who the business is.
However, marketing campaigns should be built to include Instagram Story ads. It has the lowest cost per impression for ad placements in the Facebook universe but possibly the biggest reach as millions of users scroll through Instagram’s feeds every day. It also has high conversion rates, partly due to the incredibly convenient ‘swipe-up’ feature that allows users to go straight from the ad to the website or page from which they can buy the product.
Advertising on Facebook is a learning curve and users will grow to learn what works best for their product and target audience. Those new to Facebook advertising should first get to grips with Facebook advertising policies so that ad campaigns aren’t created in vain. Overall, Facebook ads remain one of the most cost-effective avenues of advertising for most businesses and with a user base that’s continuing to grow, so is your advertising potential.
Regina Raap is a lover of language and therefore works as a professional content writer at Gumessays where she helps make boring blogs sparkle. She is a writer by day and a reader by night. When Regina is not working at the computer, she can be found curled up with a book or playing with her dogs.