How to Improve ROI from Facebook Ads?
As a business owner, you might have come across numerous articles on the benefits of Facebook ads or marketing for your business. We are not going to elaborate on that. However, despite your efforts, you might not be getting a satisfactory return from your ads. You may wonder the possible reason behind that. You can either consult a boutique social media marketing agency in this regard. Otherwise, you may join a Facebook advertising course Singapore to learn about the mistakes you might be making. Identifying these mistakes will help you make necessary changes in your ads to improve ROI. Today, we are going to share some useful tips to improve your ROI from Facebook ads.
Add the Facebook Pixel
One of the useful tips to improve the ROI of your Facebook ads is installing the Facebook pixel on your website. It helps to track the action that your audience takes on your website. As a result, you can learn more about your audience who engages with your business. It would further help you develop your ad campaigns to reach the right audience for your business.
Align your Campaign objectives with your Business goals
Every business breaks its ultimate goal of earning sales and profit into various short-term goals. Once you determine the action that you want your audience to take for your business, you need to develop campaigns to meet those objectives. Your Facebook ads can aim to improve web traffic, brand awareness, or even signing up for newsletters. Joining Facebook courses for beginners in Singapore would give you an in-depth knowledge of the ways to develop campaigns to meet your goals.
Identify Target audience
With more than 2 billion monthly active users, while Facebook is a preferred platform for business marketing, it can be difficult to target a specific market. With the help of Custom Audiences, you can not only target your existing customers but also the prospects that might have engaged with your business before.
However, if you are unsure of the audience to target, you can use various tools. For instance, Audience Insights provide you information regarding the audience that engages with your business. On the other hand, you can create a Lookalike Audience to widen your reach. Since this type of audience is similar to your best existing customers, they are likelier to be interested in your business.
While creating a Lookalike Audience, you need to select a source audience. It can be your custom audience based on the information obtained from the followers of your page or others who have engaged with your business. Facebook would then identify the common characteristic they share such as their demographics or interests. Based on this information they would position your ads to those who appear similar to them. You can even select the size of your lookalike audiences while creating them. Pursuing a Facebook training course will help you discover more such features to make your Facebook Ads successful.
Optimize your ads for Conversion
To ensure the success of your Facebook ads, you must select a delivery option that syncs with your business goals. For instance, if you optimize your ads for link clicks, it would imply that you want to reach people that are likelier to click on your ads. This type of optimization would not help you in improving your sales, sign-ups, or in-store visit.
Be Flexible with ad placements
Facebook offers a lot of options in terms of ad placements. When you select ‘Automatic Placements’, you are allowing Facebook to deliver your ads at places where you are likelier to achieve the best results. This type of flexibility helps your ads to perform best, reach potential customers, and drive optimum results. To put it simply, the more flexible you are with Facebook ad placements, the higher is the chance of your ads providing better ROI. Facebook courses for beginners in Singapore can help you learn better ways to place your Facebook Ads.
A/B Testing
The process of A/B testing involves comparing results between two versions to determine which one offers better results. In terms of Facebook Ads, there are many variables on which you can run A/B testing such as ad design, targeting, etc. For instance, in terms of ad designs, you can run tests for images, textual content, headline, landing page, and also your ad placement. Additionally, for targeting the audience, you can compare them based on demographics, interests, purchasing behaviors, etc. Other areas of A/B testing are bidding, types of ads, etc. Join a Facebook training course today to learn more about A/B testing to make the most of your Facebook ads.
Tracking the right Metrics
To measure the success of your Facebook ads you need to track the right metrics. For instance, if you notice conversions in terms of an increase in followers, reach, web traffic, etc., you might feel excited. However, if your campaign’s focus was to gain sales, then these results do not count. In terms of sales, ideally, you should focus on three factors — CPA, CTR, and frequency.
Cost Per Acquisition or CPA would help you to keep your ad expenses low. On the other hand, Click Through Rate or CTR means that more audience is clicking on your ads to view them
Frequency means the number of times an audience is viewing your ads. The more a person watches your ad, the less likely they are to click on your ads. As a result, it would negatively impact ROI. Therefore, from time to time you need to modify your ads by adding a new image or changing the ad copy. Attending a Facebook advertising course Singapore can help you learn about the ways to develop better Facebook Ads for your business.
Therefore, following these tips can help you ROI from your Facebook Ads. In this regard, you must note that there is no fixed rule when it comes to the ‘right’ type of Facebook ads. One campaign that performs best for a brand might not provide the same results for others. As a brand, you need to keep on checking and monitory your campaigns to find out what works best for you. Hence, A/B testing is an important part of Facebook ads that you cannot overlook.
