Finding the balance between maximising conversions and limiting cost per conversion is tricky. Limiting your spend will lose conversions and maximising conversions might end up going over budget. To find the balance, look at the areas that need improvement. Usually on Facebook, Instagram and other social media platforms, these areas include; undefined goals, limited distribution, incomplete tracking and optimisation. These are small issues that can be rectified easily, making small improvements can increase the likelihood of a successful campaign.
To optimise your campaign, it is a good idea to make clear and attainable goals for every advertisement that is running. All these goals should be in line with the whole social media marketing strategy. Segmentation is an ideal way to split your customer up depending on where they are in the buying process. An ad should be made for each ad group as this will increase the ROI.
Having Facebook Pixel implemented properly on the website you are advertising means that you can use the powerful tracking and conversion optimisation abilities. Make sure it is operating on the purchases and other web pages to make sure the pixel is operating at its highest quality.
Applying Facebook’s custom audiences to your campaigns is a great way to maximise the ROI. There are plenty of ways to create a custom audience using Facebook Ads Manager.
- Website Traffic – Creating an audience of the people who have visited or made an action on the website.
- Offline Activity – Using people who have visited in store or on the phone, Facebook can create an audience.
- Engagement – Creates an audience of people who have engaged with the content on Facebook and Instagram.
- Customer File – Using existing customers to find similar people to create an audience.
- App Activity – Creates an audience of people who have downloaded or used the app/game.
Facebook Pixel can also be used to find information out for remarketing and advertising. Most websites have an ideal user and in Facebook Ads Manager you can create a lookalike audience, which includes all the characteristics and traits of the ideal customer and matches it up with people. It helps increase the number of potential customers as well as making them high quality.
Maximising your distribution will increase the successfulness of your campaign. Choosing not to do this means you aren’t using your budget to its full potential. Changing your advertisements every now and again is a good idea. It means you can avoid an increase in your CPM and CPC. Most of your results come from the newsfeed but they can also come from messenger, the side bar and a few other places. These are also less costly than having your ad on the newsfeed. You should also remember to make all your ads mobile friendly because the majority of users look at Facebook on their phone.
E-commerce stores need website traffic to convert into conversions otherwise they won’t survive. So, Facebook optimises the campaigns to get the maximum conversions. For conversion tracking to happen the Facebook Pixel and Ad Campaigns needs to be working properly.