There's always a way to improve your ROI on your Facebook ads. That's why we put together 7 innovative ways to improve your ROI and ensure your Facebook ads are as laser-focused as possible.
Looking to improve your ROI on Facebook Ads?
Facebook Ads are still a very effective way of reaching people. However, with so much competition risking overflowing the market, it’s more important than ever to make sure you’re optimizing your Facebook Ads.
That’s why we put together this list of 7 ways you can improve your ROI on Facebook Ads, and make sure you’re getting the most out of your efforts, and, most importantly, your budget.
Let’s get started!
You can easily measure your return on investment (ROI) on Facebook if you have the right tools and know what to look out for.
Although Facebook Analytics is no longer there, you can still access the Facebook Business Suite to get an overview of your Facebook and Instagram professional accounts, find data on your organic and paid for growth, along with a few metrics to determine engagement, and options to compare current data against historical data.
Facebook also offers you Facebook Insights, a Facebook business dashboard that gives you access to data on post-performance, user behavior, and even competitor page data to compare your ROI against.
Facebook Ads also have data you can use to measure your ROI on paid growth, giving you access to your Facebook campaigns and their performance. And Facebook Pixel allows you to keep track of users coming off Facebook and into your business website, letting you know how your audience reacts to your campaigns and giving you a more accurate understanding of their behavior.
Finally, other tools like Google Analytics and specialized, data managing software can give you a deeper insight into your ROI, and help you condense data to keep track of your KPIs more easily.
Here are a few tips to help you improve your ROI on Facebook Ads:
A clearly defined target audience is easier to target and easier to convert. Luckily, Facebook gives you a lot of power over target audience customization.
With Facebook, you can define custom audiences based on their lifestyle, their interest, their engagement, and more. Nailing your target audience down to the granular levels allows you to filter out any user who isn’t ready to click on your CTA.
You can use Facebook Insight tools to look into your current audience, their pain points, and the reasons they have to engage with you. You can also perform research on your competitors, defining their target audience and targetting them.
Once your Facebook Ads campaigns are starting, you can start A/B testing your ads, and looking into your growth and engagement to keep refining and perfecting your target audience.
Users are more likely to connect to your brand if they see a story instead of seeing the sales and discounts everybody else is advertising. By focusing on telling the right story while presenting your products and services, your Facebook Ads can make a deeper connection with your target audience, enticing them to click through more easily.
Use your target audience to define the right story for the right audience. Use the pain points your audience is looking to solve and find ways of quickly communicating how your solution can solve them. You can use visuals to showcase your product in action, allowing each user to picture themselves using your solution to fix their same pain point.
You can also go bigger, with larger multi-channel marketing campaigns that convey larger stories to improve your ROI on multiple channels, not just Facebook.
Your copy should effectively use the limited amount of characters Facebook Ads allow. Its main purpose should be to entice your audience to stop for a couple of seconds and click the CTA button.
To do this, keep your ads as impeccable as possible, trimming anything that isn’t guiding your buyers to the CTA. You can also make use of tried and tested ad formulas, like opening with a question appealing to your audience’s pay point. Copy showcasing the benefits of your products or services, and testimonials from happy customers are also effective formulas to develop compelling ads.
Remember to test your copy often, allowing your ads to be audience-driven to ensure efficiency.
Examining your ads’ click-through rates is vital when looking to improve your ads’ ROI. After all, the more clicks your ads get, the more cost-efficient they are. Besides improving your copy, there are a few ways to make sure your CTR is as optimized as possible.
Start by favoring desktop ad placements. Generally speaking, the carousel ad is a simple and engaging Facebook ad format. Since it’s easy to set up, you can quickly set up several carousel ads to show more of your products and services.
Facebook also has different options of CTA buttons for you to customize and adapt to your ads. Making sure you’re using the right one can confirm your user’s intentions by clicking or tapping on it, and can help you entice your users to click through.
Finally, make sure your ads are hyper-relevant to your audience by carefully regulating the number of times your audience is exposed to your ads, favoring lower frequencies for more exposure to fresh eyes.
Once you’ve done the heavy lifting of getting a user to click through your ad, you need to make sure your landing page can deliver.
Look into the percentage of people that never get past your landing page. Higher percentages may be a symptom of a landing page in need of urgent optimization.
Great landing pages are designed well, seamlessly transitioning the user from the ad into their customer journey. To do this, your landing page has to immediately deliver on what your copy promised. Mobile-friendly pages are the gold standard, allowing you to get users regardless of the device they’re using.
Remember to keep your landing pages fresh and updated, testing along the way to ensure you have the copy that performs the best.
Testing can be tricky to do. After all, it can be hard to know what to test, and when to test it, so it’s easy to underdo it.
However, the best way to make sure your ROI is as optimized as possible is to test variables as you go. A/B testing can almost immediately show you which version performs better in a sample of your audience, making it easy to ensure your ROI stays high.
Make sure to test every variable, like the ad design and copy, the CTA button, the ad placement, and even the audience. Once 48 hours have passed, you’ll start to get a close idea of which ad is performing better and why. Then, all you have to do is use the version of the ad that performed the best!
Make sure you’re testing often by scheduling testing in advance to keep your ads fresh and optimized.
Finally, a great way to ensure you’re improving your Facebook Ads’ ROI is by playing around with their formats and making sure you use the right one for the right audience.
Image ads are one of the simplest forms of ads Facebook offers. With a simple copy, an image, and a link, image ads can be created quickly and effectively, allowing you to test fewer things to ensure an optimized ad.
Slideshow ads and carousel ads take the image ads to the next level, adding more images and copy options to your ad. Video ads and stories ads can be harder to make but offer you great engagement and click-through rates when done right.
You can play around with the kind of content you put into Facebook ads to make them more engaging and effective. User-generated content can often be an effective way of using social proof to create more engaging ads. Well-produced videos, highly-informative infographics, and even memes can help your message break through the noise and reach your audience.
Make sure you’re choosing the right one by putting your user persona first and making sure you’re using the right format to convey the right message.
Finding the best target audience for your ads is key to keeping your budget low while keeping effectiveness high. To find the best target audience, you have to segment your audience into user personas, and create shareable content for them to keep them engaged. This will lower your costs and ensure your ads are as efficient as possible.
That’s why we’ll show you how to use intelligent tools to help you analyze your data, segment it, and easily find the target audience you’re going for. All you need is to download your Facebook Ads Data into a spreadsheet and upload it into Polymer.
Sign up for a free account with your email, Gmail, or Facebook account. Once you’ve signed into the account, you can go to the left menu, go to the bottom, and select “Add Data”. You can choose to upload your Facebook Ads Data spreadsheet from your computer or from your cloud service.
Polymer will start analyzing it, automatically labeling data, and building up an automated and responsive web app.
Now that we have a working database in Polymer, you can use the automated insights to help you learn from your data. If you’re using your own database, you’ll want to ensure the “Insights” option on the main menu is enabled:
Then, you can use an automatically-generated pivot table by clicking on “Pivot” at the left of the top bar, and selecting your columns and metrics to find the data you’re looking for:
In our sample database, we can compare our ad groups to see which ones have been our most successful ones.
We can see that not just through the numbers from the spreadsheet, but with the automatically-generated green and red numbers comparing it to the average and contextualizing the data:
You can also use your data to find trends that are just starting. Go to the “Visualize” tab:
Here, you can pick among different data visualization options to see your data. We’ll select the Time Series and input “Conversions” into the y-axis, and “Date” into the x-axis to visualize the trend. Then, we can select the campaign we’re interested in:
Once you’ve selected your ad group, you can see their performance on the graph and their time trends:
With Polymer, you can also find the patterns you need to identify the top performers. Start by going to “Insights” again and selecting “Explainer”:
Let’s look at the Conversions and select them under “Metric to Maximize”, then breakdown by Ad Group to check how each audience is performing:
Now we can instantly see which ad group is performing the best compared to the rest, and by how much.
Make sure to keep updating your data in Polymer as you develop more Facebook ads to keep refining your results and improving your ROI!
Drop your first spreadsheet for free here.
Although nowadays improving your Facebook Ads’ ROI isn’t as easy as before, you can still make sure your ROI is as high as possible if you follow the tips on the list.
As we’ve seen, as long as you have the right ads for the right audience, and keep testing along the way to make data-driven decisions, you’ll be able to improve your ROI in no time.
See for yourself how fast and easy it is to create visualizations, build dashboards, and unmask valuable insights in your data.Start for free