While planning a Facebook campaign for advertising, you can run into a lot of challenges.
The biggest concern is getting enough conversions after investing your time, effort, and money.
After all, you’ve put in a lot of ad spend (and thought process!) into designing your campaign. In order to generate returns on investment (ROI), you need more sales.
Here are some ways you can improve your Facebook Ads for better ROI.
Conduct More Research About Your Audience
The key to success with Facebook advertising lies inknowing your target audience.Facebook retail ads can be tricky in that they require you to have completed research before launching your campaign/ product. You need to select your target audience carefully beforehand.
At the beginning of your campaign, it might take some time to generate leads as the Facebook algorithm attempts to understand your audience. A process called the “learning phase” is taking place, where the ad set goes through “50 optimization events” to deliver the best possible results.
To gather more audience data specifics, you can use a combination of different sources:
• Google Ads
• Competitive analysis
• Local demographic information
• Your real-time website analytics
Optimize Target Parameters
Daily, some 1 billion-plus people use Facebook. It’s become more important criticalnow than ever to target the relevant people for your campaign.
Facebook ad targeting has been simplified considerably by Facebook itself. All you need to do is select an audience type and set parameters.
Here you can set broad parameters such as location, age, gender, and language. However, if you select “detailed targeting”, you can target customers who are specifically interested in your product by choosing a particular interest from the drop-down list.
Another useful feature is the “Behaviors” option. This allows you to target people based on their purchase history, upcoming personal anniversaries, digital activities, and even mobile usage. It doesn’t get more specific than that!
With Facebook Custom Audiences, you can choose users who have visited your website in the past, installed, and used your app or people who have subscribed to your services such as newsletters. If you target people based on past activity or engagement, you naturally have a higher chance of conversions.
Most retailers forget to utilize this feature of Facebook Ads. Facebook Lookalike Audiences are great because they allow you to expand your reach to users,similar to regular customers. Thus, you can target audiences where chances of potential conversions are high. To narrow down that pool further, you can add an additional layer such as interest-based or demographic-based targeting.
Remember, there is no easy hack to figure out which audience type works for your campaign. You will only realize where your strengths lie once you test the different types of audiences after targeting your potential customers wisely.