When it comes to performance marketing, money spent smartly can be money saved, and money saved is money earned. This is one of the foundations of producing high-quality results that make sense financially. I know, who would have thought, but bear with me.
When starting campaigns, results will tend to be more expensive than desired, but with these few tricks and points of focus, you or your marketers should be able to lower your cost per result and essentially stop excessive spending that is ruining your ROI.
Let’s just point out that there is no answer for shoddy marketing work, but if you feel that you are not getting the results you are expecting, check these items and solutions to see how you can save money and increase ROI.
Problem: The Facebook pixel is designed to help Facebook help you. All traffic and conversions are tracked through this trusty little fella and, it is 100% the difference between a successful campaign and a waste of your time, I don’t care what field it is. No FB pixel means no Facebook learning by the algorithm. If your pixel is not set up with relevant goals and tracking needs, you are essentially throwing money away. As fun as that is, it’s best avoided until your successful campaigns have you lighting your cigars off of hundred dollar bills.
Solution: In order to check if your pixel is set up correctly, head over to ads manager and choose your pixels from the menu. You will find out very quickly if you are set up for your goals and in the right pages/URLs. This data should be in the process of being collected. Once your pixel has enough data, you will be able to dramatically enhance the quality your audience and your ROI.
No pixels mean no clicksales, ya dig?
Problem: This is one that I have seen a lot. People love to have themselves a big spend number on their account. A lot of marketers can’t wait to drop those 6 figure campaigns, baby. But spend too much too soon and you will quickly find yourself spending more effort trying to recover from negative ROI spend. Not to say Facebook doesn’t want you to spend your hard-earned budget all day long, but no matter how you look at it, the house always wins.
Solution: Don’t spend like an idiot. There I said it. The trick is to realize that incredible Facebook results don’t come in a day or sometimes even a week. Let your ads warm on small budgets, give them a couple of days between any major changes or even little ones. Collect data, identify your opportunities and quick wins to optimize. Edit, spend a bit more until you have results. Then and only then, will you have the data and a clear direction on how to optimize and scale. Let your results build, haste makes waste, especially when it comes to media buying on Facebook.
Problem: This is really something that requires its own article and I will probably, maybe write on on it. But here it is in a nutshell. The apart from the pixel and targeting, if you have not learned how to optimize and scale your ads as a crucial part of your process. Pause everything and go read. In CPA Facebook marketing, as much as all other types, you need to focus on your breakdowns. Not optimizing constantly and based on data and analytics is really wasting your money.
Solution: You need to identify who is clicking, from which ads, using what creative, on what device at what time. This is where the true art of Facebook targeting comes into play. Put on your detective hat and unpack everything. That includes your ad creative and fundamental targeting. If you’re selling beauty products designed for women and you have middle-aged men clicking on it, you may be a bit off. Or not, now that I think of it. Regardless, let your conversion rates guide you, padawan.
Problem: You have hit a ceiling and can’t seem to get better results no matter how many awesome optimization angles you have taken. It is a big challenge and also a very frustrating one. If you are hitting 3 or 4 figure campaigns, why can’t you hit 5 or 6?
Solution: At this point, you should be tracking everything with your pixel. If you have enough traffic and conversions then you will be able to start creating audiences based on your pixel data. Facebook will learn who is most likely to convert and find more people for you that fall into that category. You can set up custom audiences based on that data and then create look-alikes with ranging levels of accuracy and size. If your data isn’t enough yet, go broader when creating look-alikes and progressively slim it down as your data improves and your conversions go up. Don’t forget to check your relevance score now, or you might be wasting your precious time entirely.
Problem: Have you noticed that your ads are performing less, even though your budget is higher and you have optimized? This is more common than you realize and can be easy to solve-ish. It is weird that so many people think that optimization goes along the lines of more budget means more results. Often, even the most successful ROI can be smashed as soon as you increase the budget. I know, crazy.
Solution: There is such a thing as Facebook fatigue. Facebook runs and lives off of new content. It is prioritized and pushed out over old content that users have seen more than once. For this reason, it is crucial to keep updating creative and content in general in ads in order to make sure that Facebook is showing you ads to your audience. The big trick with this is not to stop ads or pause ads. Facebook does not respond well to this and it can slow down your results and roll out.
Instead, set measurable lifespans for ads and then duplicate them (sets), make edits and let them run again. The more continuation you can ensure the better. The less you do to interrupt the learning process the better.
Hopefully, this article will have you on the path to start dominating your Facebook campaigns and turning those clicks into dollars. Good luck!