Social Media Marketing August 24th, 2020
The Facebook Ads platform has become one of the most popular options for those who are new to digital marketing. This is understandable since it’s easy to justify the potential for many businesses to advertise on the world’s largest social media network with 2.41 billion monthly active users. Businesses often use Facebook Ads to help establish brand awareness, promote events, generate leads and much more. When done right, this can be a very cost-efficient way to garner results, but when done wrong, you can potentially drain your marketing budget while struggling to get the results you want to make a good return on investment (ROI).
With so many targeting options and placements, though there seem to be limitless opportunities, it can also become overwhelming very quickly. Here, we will explore a few common challenges that advertisers face with Facebook Ads and touch upon some tips that can help drive more value with the platform.
Probably the #1 most common mistake in digital marketing is targeting an unrealistic and massive audience pool. You may be wondering how reaching a larger audience could actually be a bad thing. Well, when your audience targeting is too broad, you may just be wasting a good chunk of your budget paying for clicks and impressions by people who are not likely to become your customers, thereby resulting in unnecessary higher Cost Per Conversions. At the end of the day, it doesn’t matter how great your ad looks if they are being shown to people who don’t care for it.
Instead, you should make full use of the targeting options made available to you on Facebook Ads to refine your audience. You can layer the targeting by Demographic targeting (i.e. age, gender, location, gender, relationship status), Interest targeting (people with certain interests) and Connections (based on connections to certain pages or apps). It’s normally suggested to begin by building a buyer persona to figure out what demographic and characteristics your ideal customer would be and adjust your ad’s targeting settings accordingly. You can even add in Exclusions to refine the audience even further. Just keep in mind that you must take caution so that your target audience isn’t too narrow because you still want a decent size pool of users to show your ads.
As your ads are competing against thousands of others at the same time, the platform has set up algorithms in place to essentially peg you against your competitors. One major factor is your bid. Yes, it’s just like an auction, but without a gavel and in digital format. Other than the bid price, other known variables considered are Ad Relevance & Quality as well as Estimated Action Rate. Though these other factors are important, they may be a little more complex for the intention of this article, so let’s focus on the bid portion for now.
If you find that your ads are just not generating enough impressions or clicks, then this may be the section where you need to investigate. There are a number of bidding strategies available, each one with its pros and cons. For example, you may want to let Facebook manage the bids for you with a strategy called ‘Lowest Cost,’ to reach all the lowest-cost opportunities while spending your budget. This is the strategy that the majority of advertisers opt to use as it ensures your bid price will never be set too low and under deliver. However, as you’d be taking a hands-off approach with this strategy, your costs can rise as you exhaust the least expensive opportunities.
If you are using automated bidding and not seeing any results, switching over to a manual strategy like ‘Bid Cap’ may be an option. You’ll likely be provided with a suggested bid price; as a result, both minimum and maximum based on the targeting and objectives you have set on the campaign. This strategy would require more time and attention to manage and control costs. Still, it has the potential to increase competitiveness against other advertisers targeting similar audiences while maximizing volume at your specified max bid. If you’re using manual bidding and not seeing results, it’s quite possible that the bid cap you set is too low, preventing you from having a fair chance against competitors and assuring enough placements, so you might want to bid a little bit higher but within the range of your budget. If you’re still not seeing an improvement in your Impressions after increasing the bids, then it’s time to re-explore your custom audience targeting, as it may be too narrow.
“Ad Fatigue” – yes, there’s such a thing. Your frequency tells you how often an average single user is seeing the same ad. When people see the same ads too often, they get bored or even frustrated, which could, in turn, negatively affect your brand’s reputation and decrease Click-Through Rates, therefore increasing costs. Social media is known to constantly evolve and change with the trends. There’s no one-size-fits-all, and what may work one month may not work the next. If you notice that your ads have a high-Frequency count (in general, a frequency of 3 or higher is a red flag), your ads are likely to cause ad fatigue.
The solution is as simple as creating new ads to freshen things up one in a while to deliver new content and new graphics. Just make sure to keep consistent messaging of your brand and aim to provide helpful, informative and interesting content that will resonate with your ideal customer while reassuring that your offer is worth checking out. Social media is a game of visual stimulation, and so you want to make sure your ads are tailored to catching the eyes of your audience. Your headlines should also be short and to the point because you may only have a couple of seconds to appeal to a user while scrolling through their social media feed.
Facebook Ads are undoubtedly a great way to help boost your brand presence and increase traffic to your website. Still, with algorithms frequently changing, your approach to social media marketing needs to also constantly adapt to achieve your goals. Make sure to spend the time to ensure an effective Facebook marketing strategy is in place before launching your ads off and see it chip away at your budget. If you’re still having trouble with your Facebook Ads or the whole thing just seems daunting to even attempt, let us know. TechWyse has a team of experts who can help address some of the deeper issues you may be experiencing and knows the ins and outs of building successful campaigns for your business.