If there is one thing you have to get right, it’s your Facebook Advertising Strategy.
Profitable Facebook Advertising is a crucial step to a profitable business. For a variety of reasons, many digital marketers and business owners just can’t quite create a profitable ad campaign.
Creating a profitable Facebook campaign that hits your marketing objectives and ROI KPIs is easier than you think.
In this post, I’ll share with you the 5 important tactics you need to create a profitable Facebook Advertising strategy.
1. Invest in your ad creative
Investing in ad creative doesn’t mean a high production budget. Some of the best ads are created with low to minimal budgets. What’s most important is how your ad creative achieve the following
Get people to stop scrolling
Attention is the most important commodity in advertising especially on platforms like Facebook where you are charged by impressions. If people scroll through your ad and it goes unnoticed, your ad is leaking and costing you money. You might have the best sales copy but the creative is failing to get people’s attention.
Communicates the offer effectively
Using the ad copy only to explain the offering is proven to work but on many occasions and depending on your industry, the creative is a major component of conveying what you are offering. Whether it’s a video ads, carousel ad or image ad, using visual elements to articulate your offer is instrumental and explains your value proposition.
A big part of being creative is being able to, in simple and straightforward ways, demonstrate and explain a complex or abstract idea in an effective visual way. Your ad viewers will thank you for it even if they don’t decide to go for your offer. A creative ad gets people behind it and generates buzz which will attract more buyers in the process.
2. Master your ad copy
The 2nd most important component is the ad copy. This is because the ad copy tells your audience the story and explains the value proposition. After capturing people’s attention, you need to take them on that journey and tell them why they should consider taking the next step. Your copy is not just the written words on the description part of the ad. It’s also what’s told on the ad if it’s a video ad.
Effective Ad copy needs to maintain the attention and engagement you created in the first place through the visual components of the ad and build on it.
Your ad copy needs to clearly differentiate you from the rest of the pack but also make a solid case as to why people should believe you. The use of social proof whether it’s case studies or testimonials makes a significant difference when it comes to building trust and triggering action.
Another important objective of the copy is to create an emotional connection. To do that, you need to be clear on what emotions you want to create as part of your sales strategy and understanding your target audience buyer personas.
3. Build trust early on
Your Facebook Advertising Strategy should always remain focused on Trust.
Trust is one of the most important factors in the purchase decision-making process. To build trust, you need to communicate to people why they should. It is as simple as that. Why should they? Some of the answers you might come up with can be part of your product and marketing strategy like a better refund or return policy but that’s not enough. You need to go way beyond that.
To establish trust, there 4 main areas you need to get right
- How other buyers have benefited from your product
- Leverage endorsements and influencers
- Focus the copy on THEM, not YOU
- Be authentic in every part of the copy
4. Focus on retargeting
Retargeting is the holy grail of online marketing and is the only way you will be able to tap into superior sales growth levels. On average and depending on your advertising channel mix, at least half of your target audience are not ready to make a purchase decision.
How do you generate sales and convert people who are ‘not ready’ to buy yet? They may still be doing research or not even aware of your product or business. An intelligent retargeting strategy allows you to hone in on those who are engaged and showing positive signs of interest and purchase intent.
Facebook advertising is one of the best advertising channels to implement your retargeting strategy. To make your retargeting successful, there are 3 simple steps.
A. Set up your tracking tools
The very first step is to be able to track your audience and visitors. This starts with setting up your Facebook pixel which will allow you to measure things like what pages, actions, events took place on your website in respect to traffic channels, promo offers, ads, ad sets, etc.
Next, you want to identify and create audience groups and events on Facebook based on behaviours you want to track. This comes down to your business model. If you are an e-commerce business, tracking product page visits, add to cart, and check out page visits, are the basic and most common behaviours you want to measure. But there’s a lot more. If you are a SAAS business, you want to track free demo or free subscription CTAs. And so forth.
B. Segment your audience
Segmenting your audience will you to have a more effective marketing approach. Audience segmentation can be based on demographic differences but also purchase intent. If someone has seen your ad 2 or 3 times and has abandoned a shopping cart, that’s a more qualified buyer than someone who just spent 10 seconds on your homepage.
Audience segmentation should always a top-down approach where you start at the highest level by identifying your target audience and then based on their interactions, you start to assign them to different groups and smaller audiences.
C. Personalise your ads
The final step is to personalise your ads. Your most qualified audience should see ads that are more sales-oriented than those who are not as highly interested or engaged. Perhaps you can show them an exclusive offer or invite them to a webinar. A top-of-the-funnel audience will likely need to see different types of ads that more awareness and education-based.
5. Monitor and mitigate Ad fatigue
Avoiding Ad fatigue is a great way to guide and help improve your Facebook advertising strategy. Measuring and understanding Ad fatigue will help you improve return on ad spend. It’s among the marketing metrics that are crucial to utilise in your ad campaign decision making. Regardless of how great your ad is, there will come a time where the ad is not performing as good as it should anymore. That’s ad fatigue. It happens when the ad has been seen by your target audience a certain amount of times and incremental impressions (and cost) is not paying off and cost per acquisition is on the rise. Ad fatigue happens due to two main reasons.
There are two things to mitigate Ad fatigue
- Expand the Ad target audience
- Come up with new creative ads
You’ll need a fine balance between too many ads and too few. One of the best ways to do that is benchmarking your current ads performance against historical data and industry standards.