Implement these 5 tips to help you boost your return on Adspend (ROAS)
The organic reach of a businesses Facebook page in 2018 is significantly declining, this is because facebook is trying to reestablish the platforms roots, which is a platform that gives users a way of connecting with friends, family and their community. A business Facebook page will no longer have the same organic reach as it used to, therefore if you are not leveraging the benefits of facebook ads your limiting the visibility of your business to potential clients. So how do you reach your reach more people or potential clients, specifically your target audience?
Facebook having the largest number of active users of any social media site as well as being the owner of Instagram and WhatsApp is essentially only rivalled by google in its ability to use its vast amounts of big data to understand consumer behaviour. Thus facebook also offers some of the most effective advertising options using sophisticated marketing tools to allow any business to find their target audience and actively market to them.
1. Identify your target audience
Many business owners make the mistake of assuming that the wider the reach, the more conversion they could get. This assumption is wrong. Facebook has over two billion users, but your target audience is a very small fraction of that number. By using a very generic targeting scheme, you will be reaching very few people who might be interested in what you’re offering. Of that small amount, not one person might be willing to buy from you.
To understand who you should be targeting, you must first consider the products and services your business offers. Use your target buyer profile to develop your target audience profile. Facebook offers targeting tools to downsize your audience pool using location, demographics, and interest. If done right, your final audience pool will only consist of people who are potentially interested in your brand, making it easier for your ads to convert.
2. Use high-quality visuals
The average social media user has a very short attention span, as they are consuming so much content in such little time. No one really stops scrolling unless they see something that interests them. It’s not enough to fund your campaign with hundreds of dollars and expect returns. Facebook will do the job of putting your ads out there, but it’s up to you to encourage users to engage.
Your visuals must be of top-quality. This includes graphic materials, pictures, and videos. They must be eye-catching enough to encourage users to stop and find out what you’re about.
For the best visual quality, consider the following tips:
• Include a high-quality product image if you’re promoting one.
• Use clean layouts. Avoid clutters that might hide the main purpose of the ad.
• Use legible text fonts and sizes. Your aesthetics shouldn’t disrupt the message. There’s an end game to these ads, and users should be able to see your Call to Actions (CTAs) clearly.
• To be safe, use dark backgrounds with light texts, and light backgrounds with dark texts.
• Use icons and graphics to bring your content to life.
• If you’re going to use videos, ensure the camera used is of high quality and the video is shot with good lighting.
3. Outline your budget
As a business owner or marketer, you should have a budget for marketing and advertising. Within this budget, outline how much your business can afford to invest in Facebook advertising. This will be determined by campaign length, as the longer your ads run, the more money you will spend. For the best results, don’t invest all of your budgets at once. Spread it out so you have enough time to monitor performance and make adjustments when necessary.
4. Study analytics reports
Facebook advertising is very extensive. Because they understand that you are paying for a service, over time new features have been introduced to make it easier to track ad progress.
Facebook’s analytics tools allow you to monitor impression; the total number of times users saw your ad, and clicks; the total number of times users clicked on your ad.
With this information, you can measure the conversion rate of your ads, and the actual cost and returns of running those ads. You can also tell which ads appeal to your audience, pull more interest, and aren’t making any impact. Using this information, you can create begin to run split tests.
5. Don’t stop testing
Your ad might be performing well, but it can always get better. With advertising, every business owner should be focused on getting the most returns from their investment. This is why marketers prioritize split testing, also known as A/B testing. It is a controlled experiment where you aim to achieve the same result using different efforts, to see which works best. In advertising, this translates to different graphics, offers, text, etc. With Facebook, you can push your testing further by changing placement, target audience, and delivery optimisation.
Split tests are not randomised, they should be tailored to find your target audience, but with a few different features to improve on results. To get reliable data, run your split tests for 3-14 days, enough to give your users time to engage with the ads. Once you receive the results, review them to see which ads performed better, and go ahead to apply the needed changes. You can always keep running tests to be sure that you get the most value for your money.
Facebook currently offers a full suite of advertising tools that every business can leverage to promote growth and recognition. To reach more people, keep experimenting to find what works best for both you and your audience.