According to one study, an overwhelming 87.1% of American businesses are expected to use Facebook for marketing in 2020. The reasons behind this are not hard to fathom. Despite its seemingly waning popularity among youth, Facebook is still the largest social network today. The average Facebook user clicks an average of 11 ads a month. The returns from this marketing strategy is thus too lucrative to let go.
But getting Facebook to work for you is not always easy. Here are four tips to improve your ROI from Facebook advertising.
Outsource to a specialist agency
Unlike PPC or display advertising, Facebook advertising requires the marketer to go well beyond basic CPC arithmetic. Copywriting and content production is an important component of this advertising platform and your results are well and truly defined by the content you serve along with how well you target your audience. Outsourcing your campaign to a specialist Facebook advertising agency can thus be highly profitable.
In addition to letting experts do your job for you, outsourcing also saves you a lot of money that goes in training and overheads. More importantly, an agency gives you the predictable outcome that cannot be expected of an individual hired in-house.
Invest in quality content production
As we pointed out in the previous paragraph, investing in quality content can make or break your Facebook advertising campaign. Studies show that users engage better with your content when it is interactive. Viewers tend to remember 95% of a communicated message when it is delivered over a video compared to text. Also, video-focused content tends to get shared up to 1200% more than image and text.
Of course, this comes at a price. There are, however, a number of online tools and services that you can make use to create affordable videos for your ads. The investment you make in such visuals is more than compensated by the higher returns you see from using this on your ads.
Pick the right Facebook ad format
Facebook advertising is not a monolithic format. There are a number of different ad formats to choose from. The right format depends on your marketing goals. Are you looking for engagement on your app? Or are you looking for new installs? Alternately, you may also be looking to create brand awareness for your business or hoping to convert your ad clicks into real store visits.
Pick a format that will help you best with your campaigns. Facebook Lead Ads, for instance, are perfect for B2B businesses seeking leads for their business. ECommerce stores may find Facebook Messenger ads highly profitable since you can deploy a chatbot to nurture a visitor into making an actual purchase. In addition to this, you may also look at building a following or increasing Page Likes if these are the goals you are after.
Optimize ad copy
According to the PSO system developed by business coach Gallant Dill, your ad copy must cater to three specific components – Pain, Solution & Offer. Essentially, understand the pain points of your customers and provide them with a solution. You can then sweeten the deal by enticing them with an offer.
What kinds of offers do you provide? Discounts and bonuses are the most common. You may also offer bundle-up services that typically help improving margins on your offering. In addition to this money-back guarantees, creating a limited time deal and testimonials from existing customers can help dramatically improve the conversion on your ads.
Who you target is as important as the product or ad copy. Here are a few ways you can improve targeting on your Facebook ads.
- You can begin with targeting users based on their recent buying behavior. Facebook has tons of data about every user on their database. This includes the products they are interested in, those that they have expressed interest in, and also what they recently purchased. Target users based on this to maximize conversion rate.
- Depending on what you sell, you can also target people based on their life events. For instance, if you sell jewelry online, you could target people about to celebrate their first anniversary. A baby products company can target pregnant women who have just announced their baby shower.
- Facebook also has layered targeting options – that is making use of multiple levels of targeting to reach a user with high likelihood of conversion. For instance, if you are furniture seller, you could offer a ‘Newly Wed’ discount to an audience that is newly married and is moving to a new city. The chances of such a target converting is very high.
Do you advertise on Facebook? Share other tips and strategies you have learned in the comments.