7 Highly Effective Facebook Advertising Strategy Notes
Fred Lam | Zen Notes
- Use the conversions to website objective.
- Install pixel events and check they work with the Chrome extension "Facebook Pixel Helper".
- Limit an ad set to one country and one keyword.
- For new products keep the audience in the range of 250,000 to 500,000 and never over 1 million.
- Use the 1-day conversion window for products under $30.
- Start with a $5 daily budget. Let it run for 24 hours. If the results are good let it run another day.
While the data is good double the budget every 48 hours and continue to monitor the results.
If the results get worse then you've found your sweet spot.
- Use custom conversions and custom audiences when creating lookalike audiences.
- Let data tell you the story.
CPA, cost per click link, click through rate link and CPM - cost per 1000 impressions.
7 Highly Effective Facebook Advertising Strategies
These 7 highly effective advertising strategies do not only apply to Facebook, they also apply to ecommerce, digital publishing, local businesses or any service you run. These strategies ensure you stay up-to-date and get a return on your investment.
1 Choose The Right Objective
As an advertiser on Facebook you need to select the best objective. This typically means conversions to website clicks that convert into a sale.
To utilize this objective to your best advantage you will need your pixel in place and use standard events. Standard events are parameters on top of the pixel that tell Facebook if someone viewed your page, became a lead, added an item to the cart, if they checked out or completed a sale.
You need to install your standard conversion pixel correctly otherwise it will sabotage your campaign. There is a Google Chrome extension called the Facebook Pixel Helper that will tell you if your pixel is installed correctly.
2 Correct Location Targeting
A lot of people just use the default location settings which include people travelling through a country that most likely are not interested in buying products. You should choose people that live in your target country.
People also target anyone that speaks English in the US, Canada, UK, Australia and New Zealand. If you do this you're sabotaging your campaign because your budget is not large enough for Facebook to adequately test for the most responsive audience.
The best way is to have five different ad sets targeting one country each, then you'll get precise data results otherwise one country will chew up most of the budget.
3 Targeting Keywords
You should never add a lot of different keywords in your ad set but rather 1 keyword at a time. When you start advertising a new product make sure your audience is in the range of 250,000 to 500,000 and never more than 1 million.
If you target multiple keywords and have a potential reach of more than 1 million people you won't really know who your audience is. It's like you're going after your audience with a blindfold on not knowing who is buying your product.
Target just 1 keyword per ad set.
4 Conversion Window
Facebook optimise ads based on a seven day window assuming people will click on your ad then several days later buy your product. When you use a 7-day window you're not utilizing the Facebook algorithms instantly.
Most of the time people will buy your product direct from your ad on the same day. If you change the conversion window from 7-days to 1-day Facebook will rapidly optimise the advertising daily.
If you're selling a service, a car, a cleaning service or something over $500 then you can consider a 7-day window because people need that time to make an informed decision. When you're advertising a product under $30 you want to use the 1-day conversion window.
5 Starting Budget
Some people start advertising with a $200 budget which Facebook will happily chew through it in no time and you may not get the conversions you're looking for. Always start with a $5 daily budget and no more than $20.
Don't treat advertising like the stock market and risk your money. This is the process to follow when you find a campaign that works.
- Run an ad set at $5 per day.
- Let it run for 24 hours.
- If the data looks good then let it run for another day so you have 48 hours of data to analyse.
- If the data looks good then double the budget to $10 per day. The time you update it is important.
Update at midnight or very early in the morning like 7am.
If you update the budget before 24 hours have passed then Facebook will deplete the remaining budget instantly.
- If the data looks good after 48 hours at $10 per day then double it again to $20 per day.
Continue to double it, or at least increase it by 25%, every 48 hours while the data proves it's working.
Some people have complained that their sales flopped when they increased their budget from $10 to $20.
The reason for this is related to the user rating that goes from 1 to 10. When you increase your budget you're targeting a more competitive category of people that have a higher user rating.
With a $5 budget you're going after people with a rating of 1 to 2, basically people that don't use Facebook all the time. When you increase the budget you target a higher user rating as well.
You should be paying attention to what daily budget will drive the most profit. That's the sweet spot you're looking for.
6 Custom Conversions And Lookalike Audiences
You want to use custom conversion events based on your product so you can tell Facebook to specifically look for people that want to buy your product.
If you're pouring every purchase into one pixel then you won't know who is buying a water bottle from those buying a calculator. People that buy a calculator are different to people that buy water bottles.
Without separating the buyers your lookalike campaign will not be optimised.
To segment those buyers you need custom conversions and custom audiences so the lookalike audience is completely tailored to the product. You're telling Facebook to target specific people interested in buying a specific product.
When you get a lookalike audiences to work then you start to embrace six figures.
7 Let data tell you the story
A lot of people think their campaign or funnel should work so they implement it. When it doesn't work they feel defeated and they start trying to optimise the campaign or funnel to make it work. If the data tells you something isn't working then accept it because there's no point beating a dead horse.
When you optimize your campaign pay attention to the following:
- Cost per click link
- Click through rate link
- CPM - what you pay for 1 thousand views.
These are the strategies Fred uses in his business to ensure he invests wisely and gets a good ROI.
Brought to you by Michael McDonald, founder and editor of Zen Notes.