How to let Data drive your Facebook advertisement results
In today’s digital age, if your company is not online, you are missing out on a potentially massive amount of money. By having an effective online marketing campaign, you can position your business or brand as the expert and leading authority in your field. That being said, having an effective marketing strategy is easier said than done. Many people let their emotions and personal preferences determine the performance of their advertising. The answer is simple: let the data decide what to do next. Here are a few different ways you can let the data optimize and scale your ad campaigns online. This is particularly tailored to Facebook but will work across other platforms.
Organize your Accounts
When setting your Facebook ad accounts and campaigns up, it is important to be able to look back on the results and be able to have a clear view of what each ad’s performance looks like. You should have universal naming conventions that separate each ad, ad set, and campaign by their creative, audience, interest, landing page, etc. If you have your account set up properly and organized, it will be MUCH easier to identify which ads, ad sets, interests, and audiences are working the best and be able to scale them easily. Another benefit of having your ad account and campaign set up properly is the fact that you can more easily manage the accounts through turning on and off ads, as well as editing them. You won’t have to search around for your ads that are working best.
Don’t let your emotions dictate your decisions
It is very easy to get attached to an ad that you really like. It might be an eye-popping image that you are certain will work, or it could be an engaging video with all of your favorite topics inside of it. You could start out getting fantastic results from the ad in the beginning, then it dies out over time. Your performance could even go the other way: starting out slowly and gaining traction over time. The key is to not get attached to any one ad or audience, because if they do not perform, it is time to kill them. In order to avoid the emotional connection to your ad or ad sets, you should have a quick checklist that you refer to as you consider scaling or killing an ad.
Data Driven Decision
The data from your customers and visitors is what will drive the scaling of your business or brand’s ads. While you might think your Facebook ads are awesome and amazing, they still may not perform, no matter how much you like them. Here is why: your advertisements are not for you! They are the tool used to attract potential customers to your brand through offering a solution to the potential problems encountered. Through testing, you can find the perfect client or customer through your ads if they resonate with them. By analyzing your data as you go, you can find which ad set is working best. As you look at the data, you should look at a few different data points in your advertisements’ analytics. When you are testing new interests and creatives, don’t kill your ad until it has at least 500 impressions, $5 in ad spend, and if there are no sales. If you have an established ad, you should look at your break even ROAS (return on ad spend) Any ROAS over 1 means you are getting at least 1 dollar back for every dollar you spend. Optimally, your ROAS will be as high as possible. If your ROAS is above your break even point, there is no reason to cut the ad, even if it is barely above break even. If you have a bunch of ads that are performing better than the one barely above break even, you can kill the underperformer and improve your average results.
TEST TEST TEST
The key to finding the perfect ad to scale and use to grow your business is testing. I cannot express how important it is to try different ads, ad sets, and creatives. By setting them up to run and spend up to your break even point, you can identify which creatives and which audiences are working best, and optimize your ads toward this. Make sure you keep your checklist in mind, killing any ads that spend more than your break even. As you find ads that are working best, you can duplicate them and add them to an adset with other winners. Once you do this, you can analyze those and optimize even further for higher returns. Don’t forget to avoid getting emotionally attached to your ad, even if it is super great you love it. If it does not perform well for you, it needs to be eliminated. If it is working well, you can slowly scale it up. Avoid making too many adjustments over a short period of time as well. If you make major adjustments, you could send your ads back into review or learning where they will take much longer to optimize.
Break down and build up winning creatives
When you have some winning ads, you can break them down by whatever demographic information you have and build a powerful ad set with them. Make sure you are aware of the new IOS updates! This makes it very hard for the average marketer to track data from websites and ads on Facebook. If you have a third party reporting system, you can use the data from that, but if not, you can use data like gender and age to see where the most sales are coming from. Set a benchmark for ROAS and kill anything that does not reach that number with ruthless precision.
You Can Do It!
Managing and scaling ads online can be a very daunting task. It seems like there are so many different numbers and data points in an ad campaign, but in reality, it is not so bad. You just need to approach your scaling and marketing strategy with a strong sense of focus, and stick to your strategy. If you need some advice or help you can book a strategy call with me through my website soissondigitalmarketing.com
Growing your business online doesn’t have to be intimidating or overly difficult. With proper testing, mental fortitude, and sticking to your campaign strategy, you can get some absolutely amazing results from paid ads online.
To your success!
-Mark
Soisson Digital Marketing LLC 