How to expand Facebook ads and how to ensure good ROI
When we run ads, we face a problem: spend $20 to $100 a day on Facebook ads, ROI (or ROAS) stabilizes, and once you increase your ad budget, whether it's your ad group budget or your campaign budget, your ad performance drops immediately. How to increase advertising costs, to ensure that the advertising ROI relatively does not significantly decline?
To successfully transition $50-a-day advertising spending to $500, here are some tips for effectively expanding Facebook's advertising budget and how to do it.
1. Increase the size of your audience
By expanding your ad budget to more than $50 a day, the first step is to rethink the size of the audience you're targeting. From small, tightly selected audiences to larger, broader audiences, your Facebook Pixel will offer more opportunities to find new customers
(1) Expand your lookalike audience.
If you have a precise audience, using lookalike Audiences for Facebook ads to find people similar to existing ones and expand your audience is one of the best ways to find new customers on Facebook.
If we have a customer list and upload a sufficient number of audiences that match successfully (typically require 1000 samples and more), it is based on the customer list1% Lookalike Audienceis a very effective way. However, if your ad takes longer to run, you'll experience audience fatigue: your ad performance slows down, when most audiences have seen your ad and no longer feel fresh.
This indicates that you may have reached an audience saturation point, with signs such as high frequency, increased CPM per 1,000 impressions, and decreased ad click-through CTR.
While 1% of similar audiences include some of your best potential customers, reaching 3% to 5% of your audience will expand your budget without making your audience tired. 3-5% of your lookalike audience typically includes 5 to 10 million people, depending on your geographic location.
If successful among 1% of lookalike audiences, Facebook Pixel accumulates a certain amount of valuable data that Facebook algorithms can use to find larger audiences and more likely customers, from individuals to ensure the follow-up to ad delivery.
(2) Expand your location
In terms of expanding your audience, finding a secondary market is a great way to attract new customers at a low cost. The ability to sell to multiple countries depends on your product and local demand, but if you're selling low-priced items or products that can be sold internationally, you should definitely consider targeting a global audience.
First, the U.S. has the largest group of online shoppers, which is why there is fierce competition to attract consumers in the region. Other countries or regions with large English-speaking populations, including Canada, Europe and South America, are often overlooked.
Once Facebook Pixel has collected enough data about one country's overseas customers, it's easy to use the learning method to find more overseas customers in other countries. Creating a similar audience of 1% in multiple countries outside the United States is an effective way to increase ad reach and take advantage of the lower cost per thousand impressions that exist in these less competitive regions.
Tip: When targeting countries outside the U.S., make sure your ad's text language settings match the language your site uses so your ad audience can have a better experience.
2. Build your channel
In addition to targeting larger, apathetic audiences, especially less active ones, you need to invest more to build segmented Facebook funnels.
Most new advertisers on Facebook set up their first ad campaign to find new customers or reposition their site visitors. When your ad spending shifts from $50 a day to $500 a day, you'll need to build more panels in your Facebook channel.
(1) Optimized for higher funnel targets
A relatively simple way to expand Facebook's advertising channels is to create a "passionate" audience. Enthusiastic audiences include people who have shown a certain level of interest in your brand or product by watching videos on your page, browsing your website, and interacting with your home page.
Cultivating a passionate audience is an important step in expanding Facebook's advertising spending. Repositioning a passionate audience often results in a higher return on investment than apathetic audiences, who have heard of your brand or seen your products.
Another benefit for these audiences is that bidding for these higher funnel targets often reduces costs, such as:
Browse the content
Add to the shopping cart
Focusing some of your ad budget on these higher funnel goals will create a larger enthusiastic audience that you can reposition your purchases.
(2) Segment your passionate audience
Just as you can expand your ads to reach more people, your enthusiastic audience grows naturally. If you have a broad re-targeting audience, anyone who has visited the site where you're running your ads in 30 days, you might want to expand that good audience.
Split this large group of potential customers to find the most rewarding part, rather than increasing the heat flow budget indissodiss.
A good way to segment your enthusiastic audience is to create a separate campaign or ad group like this:
Video views (25%, 50% or 75%)
Web subscriptions (180, 60 or 30 days)
Website visitors (180, 60 or 30 days)
Content views (60, 30 or 7 days)
Add a shopping cart (60, 30 or 7 days)
To determine the audience that works best when repositioning, budget individually for each segment of the audience. When you find the best-performing audiences, you can shift more budgets to those segmented audiences and start running targeted ads in separate ad campaigns.
If you don't segment your repositioned audience, your entire budget may be spent on less-performing groups, such as site visitors, when in fact spending more of your budget pays off best for shopping cart givers.
3 Increase your budget
Obviously, increasing your budget is the most basic way to expand your Facebook advertising business. Whether you're creating a daily, weekly, or monthly budget, expanding your advertising business means putting more money into the platform to get more results.
Spending more on advertising without guaranteed returns tends to scare away new advertisers. Especially if you're investing money to grow your business, the money spent day in and day out on ads that can't be converted is unsustainable. But by understanding Facebook's own guidelines on how to set a budget, you can spend more wisely.
Note the Machine Learning Phase:
The "machine learning phase" is a term you've seen in Facebook's ad manager. When you launch a new ad department, Facebook starts the learning phase, and you usually see this message next to the ad department until it publishes 50 optimization events.
Facebook has a full help page dedicated to ending the learning phase. All in all, they create this stage to let advertisers know that when you create a new ad department, The Facebook algorithm spends a specific amount of time and budget determining who's best for your ad.
One of the benefits of the learning phase is a reference to how much budget you need to spend on your new advertising department. The usual experience is to multiply the average (or acceptable) cost per purchase (CCP) by 50, and then divide it by the conversion window setup time to get your daily budget.
So if your CPP is $30 and your conversion time is set to 7 days:
30 x 50 s 1,500 / 7 s $214
Based on the example above, setting your daily budget to $214, you set a budget for your ad department that is sufficient to complete the learning phase and optimize it according to Facebook's guidance.
However, Facebook points out that you'll see mixed results in the learning phase, for better or worse. Facebook also noted that during the machine learning phase, advertisers don't make changes to their ad campaigns because small adjustments can cause ads to run again.
Basically, Facebook emphasizes the importance of patience during this time, in order to avoid a momentary impulse to shrink or change. Setting up a budget and time for your ads is an important part of expanding Facebook ads.
Facebook has introduced a new feature to its ad management system that will split up your ad campaign. In the past, each ad department had to set its own budget, which made it difficult to test new audiences.
With the new Split Test feature (Campaign Budget Optimization), you can set hundreds or even thousands of ad budgets for tier one ad campaigns and let your different audiences compete for that budget. Facebook's algorithms will quickly identify the best-performing ad department and shift most of your budget to that ad department.
These split tests reduce budget waste and help you expand your daily budget, freeing you from budget risks for underperforming audiences.
4. Develop new ideas
When expanding your budget and audience, it's important to keep your creatives up to date. Audience fatigue occurs when your ideas start to get old.
If this is the case, you should start rolling out new creatives so that people don't see the same images or videos over and over again in your channel.
Creating different ads for different parts of the channel and running multiple ads at the same time is an effective way to reduce creative fatigue, but pushing Messenger ads to customers at different stages can result in higher click-through rates and ROAS.
For example, a 60-second video that introduces your brand to customers can be effective in attracting apathetic audiences. Making videos at this stage of your channel can help you build a 25 percent, 50 percent, or 75 percent enthusiastic audience for videos you've seen, even if they haven't clicked into your site.
Once you capture video viewers, you can offer this group of potential customers a wide range of forms such as images, turntable ads, or other videos. At this stage of your channel, including customer reviews, social recognition, or answering frequently asked questions within your ads, can help your potential customers get closer to the buying phase.
When advertising to buyers at the bottom of the funnel, such as site visitors or cart givers, try adding coupon codes or highlighting free shipping limits on your site. Simply change your copy at this stage and you'll be able to offer new prices to engage these audiences and bring them back to your site to complete your purchase.
Another overlooked audience is your previous customers. Use catalog sales or dynamic product ads at this stage to show only products that your customers might be interested in buying the next time they buy. If you have a large number of similar products or products that can be re-ordered (such as consumables), promoting these products to existing customers can make a beneficial contribution to your overall return on advertising spend.
Customize your creatives for all locations
After you start introducing new creatives into your Facebook channel, make sure they're optimized for multiple display locations. Because you're targeting customers at different stages of consideration, your ads may follow them from mobile devices to desktops and from Instagram to Facebook.
If your creatives just look good in one of Facebook's display locations, you might miss out on contact with other potential customers. Thankfully, Facebook now allows you to customize your creatives for multiple display locations.
When you create your campaign, you can now select Select where all custom resources are displayed at the ad department level.
In the ad-making step, you can specify the Facebook page and Instagram account from which you want to run your ads. It's important to run your Instagram ads from an active Instagram account so that your ads look more natural on the platform.
The same is true of video ads, where Facebook allows you to customize video resources for multiple display locations, such as uploading a 1:1 version or even uploading a 9:16 version on Instagram for 15 seconds.
By customizing your creatives for all display locations, Facebook can show your ads to potential buyers, regardless of the device or platform users use. Not only does this increase your conversion opportunities, but it also reduces your cost per thousand impressions by keeping your ads in less competitive locations.
Develop a strategy before you increase spending
There is always considerable risk in expanding any part of the business, as is Facebook advertising. The possibility of increasing your daily spending without getting a positive return is scary to think about, especially if you've never expanded paid advertising.
However, potential sales increases, faster inventory turnover, more customers, and so on - meaning that attempts to increase advertising spending are often worth it. The best way to mitigate these risks is to follow a strategy, such as the one outlined in this article, so that you know where the extra ad budget is spent.
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