Crush Your ROIs With These 7 Facebook Ad Hacks
I recently discovered scary statistic from a 2017 Social Examiner report that stated: Only 42% of Facebook marketers feel like their effort is paying off. 42%! That’s almost half of advertisers feeling that their time, money and effort aren’t getting them results. 42% who feel their effort just isn’t working.
If you are one of those who feel like your Facebook efforts aren’t yielding the return on investments you’re looking for, don’t despair; all is most definitely not lost.
The art of turning your PPC campaigns into gold lies in making small tweaks, and when it comes to Facebook, it’s no different. The simplest solutions can have a considerable impact on whether you’re crushing your Facebook ROIs or throwing your advertising budget in the trash. Which is why we have put together this simple yet so often overlooked list of Facebook tricks.
7 Facebook ad hacks that you can use to crush your ROIs on your next campaign or adjust your current results.
1. Don’t Stop at Conversion Rates
Yes, conversion rates are a huge factor in judging ROIs, but it shouldn’t be the only metric you’re looking at. ROIs depend on two things: your conversions and how much it costs you to get those conversions. However, many Facebook marketers overlook one key metric in ensuring you’re within your budget, and that’s your CPM (cost per mille/1,000 impressions). Your CPM is vital in improving your ROIs.
What to do instead
To truly test Facebook ROIs, look beyond conversion rates and include CPMs. For example, let’s say you’re an online apparel store and let’s also assume your ad objective is to push shoppers through a two-stage funnel where you turn each click into email subscribers and then each email subscriber into a shopper. Therefore, your objective is email signups and you create two ad sets, spending $100 each, with the following results.
- Ad set 1: CPM $1 with a conversion rate of 1%, generating 10 email signups.
- Ad set 2: CPM $10 with a conversion rate of 10%, generating 100 email signups.
Ad set 1 would mean 10 email signups cost you $0.10, while ad set 2 would mean 100 email signups cost you $1. Therefore, despite the vast difference in conversion rates, conversion costs are the same making.
2. Don’t Ignore Your Landing Page
If you have a Facebook ad bringing in a crap ton of traffic but hardly any conversions, it can be due to one of three things:
- Your target audience could be too broad.
- Your ads aren’t relevant – i.e., when they get to your landing page they don’t find what they thought they would find, which of course is also affecting your quality score.
- Your landing/promotions/product page sucks.
One of the first things to check when you are wrestling with a below average Facebook ROI is your landing page. The UX and flow of your store’s product or promotions page you are sending ad clickers to is vital for conversions and therefore ROIs.
What to do instead
Read more here:: B2CMarketingInsider