Last Thursday, I participated in Rival IQ’s Facebook ads webinar. Rival IQ is a social media analytics platform.
The presenters started off by painting a picture of Facebook ads best practices:
- You are testing
- You are targeting
- You care about results
- You aren’t boosting posts
The first point is crucial and very important part of running paid ads on Facebook. Points two and three are just as important because, you have to know your audience in order to reach your goals and meet your results. In addition to constantly testing, Facebook marketers have to always be paying attention to ad performance. Finally, running ads on Facebook goes beyond boosting content to increase reach and engagement.
Here are Rival IQ’s hidden answers in Facebook Ads:
- Be organized & logical:
- Campaign > ad set > ad
- Have multiple ad sets
- Make 4 adverts – test two images, CTA -find mix of media, action for success
- What resonates? Most shares?
- No CTA vs. CTA
- Only test what you can change:
- Test & then accelerate
- Apply later
- CTA placement
- Copy is hard to measure
- Measure & apply again
- Optimize for Conversion:
- Set objectives -traffic, trial signups, conversions
- Most resonate
- Just part of process; measure different results
- $0.54 CPC
- 3.17% CTR
- Conversion (switched objective, shifted value & drove results):
- $0.86 CPC
- 4.36% CTR
- Tune and evolve
- Use Your Own Audience:
- Custom audience – seed list:
- Able to export CRM to Facebook
- Useful for extending a digital campaign, exclude existing audience.
- Create Look-A-Like audiences off of custom list
- Effective; nurture leads, retain customers.
- Track right metrics:
- Focus on Cost per result – advocate for more budget.
- Other metrics do matter – CTR, CPC, Relevance score.
- Drive action – purchase, download, watch more.
- Efficient cost model – paying attention to results
- Report effectively
During the second half of the webinar, Rival IQ shared three key insights and discussed why data is key to successful performance on Facebook. The key insights are:
- Understand Cost per results by Age / Gender:
- Relative success
- Weed out under performers
- Ad Placement:
- Is it driving results?
- Instagram – 1% CTR, $8 CPA
- Automatic -default
- Edit – tuning & removing
- Get Alerts:
- Interprets data & makes recommendations
- What’s working well? Double double & juice.
- Get even better results – with alerts on top performers.
Overall, I really enjoyed participating in this webinar. I walked away some great ideas for testing new ideas for Facebook ads. I am looking forward to the next webinar with Rival IQ.
Bridging the gap with social media,
Sarah K. Walters