- \n
- Track the right on-site metrics<\/a><\/li>\n
- Use custom and lookalike audiences<\/a><\/li>\n
- Setup your Facebook sales funnel<\/a><\/li>\n
- Use Video Ads in your campaigns<\/a><\/li>\n
- Use Cost Cap to control your costs<\/a><\/li>\n
- Split your campaigns into countries\/regions<\/a><\/li>\n
- Optimize your Landing Pages<\/a><\/li>\n
- Monitor the right advertising metrics<\/a><\/li>\n
- Use a Facebook Catalog for Products<\/a><\/li>\n<\/ol>\n
1. Track the right on-site metrics<\/h3>\n
The first step to making money with Facebook Ads is to ensure you are tracking the right metrics. Simply put, if you don\u2019t know what is happening on your site, it\u2019s hard to make improvements as needed.<\/p>\n
Here are the important on-site metrics you should be tracking:<\/p>\n
Purchases –<\/strong> This metric measures the total number of purchases that are the direct result of your Facebook Ad campaigns. It is a rather clear indicator of how effective your advertising efforts are.<\/p>\n
Add to carts –<\/strong> This metric measures the number of people who added a product to their shopping cart after visiting your site via a Facebook Ad. You\u2019ll want to compare your total add-to-carts with your total purchases. This will tell you your abandoned cart rate. A high abandoned cart rate is a sign that you may need to make changes to your customer experience.<\/p>\n
Checkouts initiated –<\/strong> This metric measures the number of people who initiated a checkout on your store but did not complete it. Like add-to-carts, you want to compare your checkouts to your total purchases. This will give you an abandoned checkout rate.<\/p>\n
Form submissions –<\/strong> This metric shows how many people completed a form like an email opt-in. It is important to track during ad campaigns as not every visitor is going to convert on their first visit.<\/p>\n
Collecting someone\u2019s email gives you the ability to market to them directly, helping to bring them back to your store.<\/p>\n
\nResources to Learn More About Facebook Ads<\/strong><\/p>\n
- \n
- Facebook Ads Courses <\/strong><\/a>– the 10 best courses to teach yourself Facebook Ads.<\/li>\n
- Facebook Blueprint Certification<\/strong><\/a> – a comprehensive review on how to use Facebook\u2019s learning academy to optimize your Facebook Ad campaigns.<\/li>\n
- How to Learn Social Media Marketing <\/strong><\/a>– a list of resources to expand your skills besides Facebook Ads and learn the ins and outs of social media marketing.<\/li>\n
- How to Become a Facebook Ads Specialist<\/strong><\/a> – the 10 steps to follow to become a Facebook Ads Expert.<\/li>\n<\/ul>\n<\/div>\n
2. Use custom and lookalike audiences<\/h3>\n
One of the best features of the Facebook advertising platform is the ability to create highly targeted audience segments.<\/p>\n
You can filter your targeting by a wide range of criteria, increasing the chances your ads get in front of your target market <\/strong><\/a>i.e. people who are actually interested in your business.<\/p>\n
Two audience targeting options that can go a long way in making money with Facebook Ads are custom audiences and lookalike audiences.<\/p>\n
![\"Facebook](\"https:\/\/www.reliablesoft.net\/wp-content\/uploads\/2021\/01\/facebook-custom-audiences.png\")
Facebook Custom Audiences<\/figcaption><\/figure>\n Custom audiences<\/h4>\n
Facebook custom audiences allow you to create defined lists of people to target with your campaigns. Here are some of the different types of custom audiences you can make:<\/p>\n
Website visitors –<\/strong> You can create all kinds of audiences for the people who visit your website. This could be every website visitor, people who visited a specific product page, people who visited a category page, people who visited the cart page, and more.<\/p>\n
You are able to choose the timeframe when defining the audience so you can specifically target recent visitors, or run a re-engagement campaign for people who haven\u2019t visited in a while.<\/p>\n
Customer list –<\/strong> You can upload a list of previous customers to create a unique audience for Facebook advertising.<\/p>\n
Facebook will use the emails you provide to link the customers to their Facebook and Instagram accounts. You can then run campaigns to retarget these people.<\/p>\n
App visitors –<\/strong> Similar to website visitors, you can create custom audiences for people who have visited your mobile app.<\/p>\n
Engagement –<\/strong> This type of custom audience allows you to target people who have engaged with your business pages on Facebook or Instagram<\/p>\n
Lookalike audiences<\/h4>\n
Facebook lookalike audiences allow you to reach new prospects by targeting people who share characteristics with your current audience.<\/p>\n
This is an extremely powerful feature of Facebook Ads that can contribute a lot to running profitable Facebook campaigns.<\/p>\n
You create lookalike audiences using source audiences. Source audiences are created with the same data sources used for custom audiences:<\/p>\n
- \n
- Website visitors<\/li>\n
- App visitors<\/li>\n
- Facebook and Instagram engagement list<\/li>\n
- Customer information list<\/li>\n
- Offline engagement list (in-person interactions, phone calls, etc.)<\/li>\n<\/ul>\n
You can use multiple lookalike audiences at a time during a campaign while also using other targeting parameters like age or interests.<\/p>\n
3. Setup your Facebook sales funnel<\/h3>\n
It\u2019s important to understand that one-off advertisements are not going to lead to good results. If you want to have success with your Facebook Ads, you need to treat them like any other marketing channel<\/strong><\/a>.<\/p>\n
This means you need to create a funnel. Marketing funnels are based on the idea that customers tend to go through different stages before they are ready to buy.<\/p>\n
Funnels segment customers into different groups based on their current interest level. They then send messaging that is relevant to their current funnel stage.<\/p>\n
As the customer engages with the business more and more, they gradually move through the funnel until they are ready to make a purchase.<\/p>\n
A traditional marketing funnel <\/strong><\/a>has some variation of the following stages:<\/p>\n
- \n
- Awareness<\/li>\n
- Discovery<\/li>\n
- Consideration<\/li>\n
- Conversion<\/li>\n<\/ul>\n
The best practice for Facebook Ad campaigns is to use a condensed version of this funnel. This is because the success of your campaigns depends heavily on the amount of money that you spend, and the resulting revenue that investment generates.<\/p>\n
Increasing awareness is great, but it is hard to measure and does not lead directly to sales. Instead, your campaigns should be optimized for easily measurable actions like sales.<\/p>\n
As such, we like to use Facebook sales funnels with the following three stages:<\/p>\n
![\"Facebook](\"https:\/\/www.reliablesoft.net\/wp-content\/uploads\/2021\/01\/facebook-sales-funnel.png\")
Facebook Sales Funnel<\/figcaption><\/figure>\n Acquisition<\/strong><\/p>\n
At this stage you find new audiences to use for your ad campaigns. The goal is to warm up the prospects before sending them through the rest of your funnel. You can start with custom audiences and lookalike audiences.<\/p>\n
With more experience, your acquisition campaigns will become more effective at moving quality prospects through your funnel.<\/p>\n
Retargeting<\/strong><\/p>\n
At this stage, you target people who have gone through the acquisition stage but have yet to result in a sale. You can advertise to people who:<\/p>\n
- \n
- Saw your ad but took no action<\/li>\n
- Engaged with your Facebook business page<\/strong><\/a><\/li>\n
- Clicked-through an ad to your ad website<\/li>\n
- Viewed your Facebook shop Catalog<\/li>\n<\/ul>\n
The goal is to generate sales at a lower cost than the previous stage. Because the prospects are warmed up, they should convert at a higher level.<\/p>\n
Retention<\/strong><\/p>\n
With the retention stage, you promote your ads to your existing customers. You can use your customer data to promote highly targeted cross-sell and upsell products.<\/p>\n
Different ad types like dynamic product ads can help automate this process.<\/p>\n
In a way, this stage creates a feedback loop to the first stage of the funnel. Analysis and traits from your existing customers can be used to create custom and lookalike audiences to target individuals at the start of the acquisition stage.<\/p>\n
4. Use Video Ads in your campaigns<\/h3>\n
Videos are highly engaging and a great way to improve the effectiveness of your Facebook campaigns.<\/p>\n
![\"Best](\"https:\/\/www.reliablesoft.net\/wp-content\/uploads\/2021\/04\/best-facebook-ad-format.png\")
Best Facebook Ads Format<\/figcaption><\/figure>\n A poll from Databox shows that nearly 70% of marketers<\/strong><\/a> note that video ads perform better than image or all text ads.<\/p>\n
When it comes to Facebook video ads, shorter ads perform better. Research shows that videos over 15 seconds have a higher abandon rate<\/strong><\/a>.<\/strong> This is why Facebook recommends that you keep the videos under 15 seconds.<\/p>\n
The ideal video length is around 10 seconds. This amount of time has shown to yield the best results.<\/p>\n
- Facebook Blueprint Certification<\/strong><\/a> – a comprehensive review on how to use Facebook\u2019s learning academy to optimize your Facebook Ad campaigns.<\/li>\n
- Use custom and lookalike audiences<\/a><\/li>\n
![\"Facebook](\"https:\/\/www.reliablesoft.net\/wp-content\/uploads\/2021\/01\/cost-cap.png\")
![\"Facebook](\"https:\/\/www.reliablesoft.net\/wp-content\/uploads\/2021\/01\/reporting-columns.png\")
![\"Facebook](\"https:\/\/www.reliablesoft.net\/wp-content\/uploads\/2020\/07\/facebook-dynamic-ads.png\")