Managing a profitable customer relationship by fulfilling their needs while satisfying the goals and objectives of your organization is what marketing is all about. What we normally take as ‘promoting your product’, is one of the four pillars of marketing, i.e. Product, Placement, Price, Promotion, but is also generally the most important one as it allows you to gain people’s conviction which, in a world of several competitors, is exactly what you need to do. Facebook provides you with easy mechanisms to launch your advertisement campaigns and hence, extract revenue from them. However, easy as it may sound, it really isn’t; and that primarily would be because of your competitors who also happen to know this fact – plus, your poor campaign strategies also contribute a lot to your failure. But, if launched correctly, your ads can certainly fulfil your goals without a hassle. Let’s take a look at a few best Facebook ad optimization tips to help you launch a successful advertisement campaign on Facebook.
1. Target your Audience wisely!
No matter how extraordinary your product is, if you don’t target it at the right people, you are going nowhere but down. Segmentation and targeting is the first step you need to take when launching a promotional campaign. You need to make sure that your ads reach only those people who might actually be interested in your product. Wasting your money in showing the ads to uninterested people and expecting a response is like burning your money thinking it wouldn’t turn black.
Facebook has really nice and easy interface where you can easily target the correct demographics for your ad. Be very precise in targeting and don’t hesitate to shrink the number of targets in the procedure. You ad will reach less number of people but the ones it gets to will definitely be interested in it. The target market you select should be feasible, productive and populated enough to fulfill your goals.
2. Properly schedule your campaign:
On Facebook, you can set when, in a day, your advertisement goes online. This surely is important as you certainly cannot expect to be extracting revenue while your audience sleeps. Plus, you need to make sure that your ad reaches the audience exactly when he would need it. That’s THE rule in timing for maximizing the profits since not all the hours of a day are the same. Facebook, by not doing the value-based pricing for ads, makes it easy for you to select the timings you want.
3. Know the budgeting rules:
Facebook definitely wants you to maximize the bid amount to extract its’ maximum revenue but that is certainly not feasible for you. However, deviating too much from the Facebook suggested bid value will also adversely affect your campaign. Surprisingly, the max bid value, affects your click-through rate (CTR). If you set your bid value too low, Facebook will tend to show your ad to those people in your target market who are 24/7 Facebook users so as to get maximum user response but that is naturally not so since those users, are too lazy to select your advertisement from the several other ads they see all day long.
It is recommended that your bid size should be the amount you easily can pay per click. Not the Facebook suggested size, not a very low value, but an adequate amount which will also not affect the CTR and will also land in your budget since you ain’t got an infinite supply I’m sure.
4. Properly design your ad:
A precisely targeted ad is useless if assisted with a bogus interface. Although Facebook doesn’t offer you much design templates to use for your ad, what it offers is pretty much what you need. The text and images you use, are severely important. You also need to make sure that the text you write is tempting and popping for the user that he just cannot resist to click on it. Plus, you should be honest with the text you put there, for you don’t just need the click, you need the buy. If you’ve put a false information on the ad, consider your business done with. Also, create call to actions in your ad, like ‘click here’ and ‘check it out’ to tempt the user.
Make sure that among the several ads that are displayed at once to the user, your ad stands out and seems more interactive and proper. You cannot simply ignore your competitors efforts, rather work harder and better than them to steal their customers as that is what the marketing business is all about. Use those 25 characters of the title, 90 characters of the body and that image field in an effective manner since you are actually paying really hard for displaying that and there naturally isn’t a room for mistakes.
5. Create Multiple Ads:
A bit difficult on the wallet it sounds, but really productive in nature that is. Using just one ad on this huge network is pointless. Create more ads each with a different target and audience. You can also analyze in this way, for where the response is good and where your future investments should be going. Using a different image and text can be really powerful as the user will treat your ad as a new one and will be tempted to check it out. So make sure you run more than one campaigns for the same brand.
Using multiple ads helps you in engaging with the audience in a multiple ways. Plus it helps you in understanding the customer needs and wants which can help you in your next campaign.
6. Effectively Utilize the Facebook Ad Reports:
Launching your advertisement campaign the proper way and then waiting for your business to boom is well, a too good approach (Sarcasm). The Facebook Ad Reports give you detailed information about your ads. You can check the CTR, the number of impressions and a lot of other useful values from that page. These reports are what tell you how your ad is performing and not that increase in your revenue after launching the campaigns. Using these reports you can actually maximize your profits as they make it evident to you for what the people’s response to your ad is.
By properly understanding the reports, you can determine for how, when and where the user is interacting with your ad and with that found, you can make your targeting more simplified and direct which will directly boost up your revenue, maximize your profit, and enable you to achieve your goals and objectives – and that is what marketing is majorly about, remember?