4 Things You Need To Monitor To Make Your Facebook Ads More Profitable

Written by Donna Patterson

 The social media giant Facebook boasts of over a billion  users. The growing influence over online shoppers can’t  be  ignored, many  businesses   use the platform to engage with current  customers while reaching new customers.

Over 62% of consumers check Facebook to research brands before making a buying decision.

 The algorithm change, giving  more preference to posts from family and friends essentially  forces business owners  to advertise  more aggressively in order to be seen  in the news feed.

 As expected, the cost of Facebook Ads has been rising  every quarter and is expected to continue rising.

So where does that leave you and your wallet?

Well… for one  you have to test to see what works for you but  if  you  do not understand  or forget the basics…

You might as well give Facebook your shirt. 

But stick with me…

 # 1 Who Are You Talking and Why Should They Care?

According  to a study done by Zendesk done while ago, it found that many people were influenced by online reviews but…

The interesting part was that this study revealed that 72 percent of the respondents blamed having to explain a problem to multiple people  as the reason for rating a  customer experience  poorly.

You might be asking….and?

 A well performing Facebook Ad has compelling  copy that clearly:

Remember,  as bad as this sounds…

Your customer or prospect is only interested in what is in it   for them.

They want to feel heard and understand.  Moreover, everything is  written from that perspective.

 If done well, you can get the cost down but…

If there is a message to market miss-match, then people will not be interacting with your Ad positively…

…or might choose to hide it from their newsfeed,  which will DRIVE your Ad costs up.

Read to the end  and you will find out that higher costs are  not always a bad thing.

 #2  What  Is The Objective?

There are many objectives to  choose from and each has a very specific goal in mind.

What are you hoping to achieve?

Firstly, for you  to be able to advertise on Facebook, you need to have a business page or Fanpage.

So the first campaign will be a page likes campaign. YouTube has many videos on how to set this up.

Some persons suggest an  awareness campaign, which  is  simply meant to  introduce your brand  to persons….increase familiarity.

Personally, I find an engagement Ad is  better to expose persons to your content.

You increase awareness.

Test target audience

And see what  type of content  most resonates with your target audience.

Also be   aware that you may find that you naturally attract a different audience from what you initially targeted.

What do you then? Look for the answer this question in  a soon to arrive  post.

There are  traffic Ads for increasing visits to   your website.

My personal favourite is  the FB Lead Ads.

It is bit more trickier to get approved and you must have disclaimers and privacy policies in place… but  it is one  of  the fastest way to build your email list  and  hence leads.

I am sure you want  more people to talk to about your business and products … right?

I hope you see now how knowing your objective can determine which type of Ad is best for you and  when it is appropriate to  use them.

Otherwise Ads can really burn a hole  through your pocket with little to show for it.

# 3 What   Facebook Calls Your Ad’s Creative 

After several failed and disapproved  Ads, the I learnt what is  the creative  essentially your Ad:

  •  The Headline
  • The copy or text in the description
  • The image

 Here let’s focus on the image a bit. Facebook has very strict rules about text on image. It  must be limited to 20% of the image.

One reason given is the computer cannot read text on images clearly. I do not know how true is  this  but too much text and your post will not be shown to  many people.

More importantly, your Ad will not be approved.

The old cliché that a picture says a 1000 words must be taken to heart.  Like literally. 

 So use appropriate clear bright  images that tell a story on their own. Avoid  stock images and use more real life images. Lifestyle images do pretty well on Facebook.

Why?

People are trying to escape the  boredom of their own lives and simply scrolling through looking for entertainment.

So you have to interrupt them to get their attention.

 The  stats show that people interact more with video than images but  so far image Ads can  still perform well in my opinion.

But video Ads  are great  for  increasing awareness and building up your custom audience so you can  target  again with another Ad. This is called retargeting.

Video Ads on a whole are way cheaper than image Ads. In fact you can  get views for a low as a penny. I have had video views for as low $0.001.

# 4 What Metrics  Need Your  Attention

There are several metrics   that Facebook tracks but just for simplicity  let’s focus on just 3 that  tell the most  about how your Ads is performing.

CPC: Cost per click tells you the cost of every  click.

Some people suggest that $0.50 to $0.75 is a good range to shoot for.

But remember that higher quality leads may cost you as much as  $5- $7 in some cases.

CLT: Click through rate counts the  number of persons taking action and actually clicking on your Ad and completing an action. A good CLT is  about 2.5%. 

If you are   running an Ad to a capture page, (a web page where your potential prospect can enter their contact information), the  opt-in rate should be 30 to 50%

But it is best to run  the Ad to a blog post or other type of  content instead of  directly to a capture page.

Another important metric is the Relevance score. Your Ad is rated  1- 10 in ascending order of relevance based on  how persons  respond to your Ad.

Here is where  targeting, copy and image/video becomes super important. If persons are hiding your Ad from their newsfeed or complaining about it, the relevancy score will decrease significantly.

Meaning that it will be  shown to less people and the  cost per click will go up as well.

At the end of the day  you will have to keep testing to see what works for you.

You also must keep tracking so that you can   determine  your rate of return from advertising.

 I am sure knowing the cost  to acquire each lead and each customer will be helpful to future marketing   strategy planning.

If you are network marketer or affiliate marketer and now starting out …it can be    quite frustrating and like you are spinning in mud.

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