Clearly, Facebook advertising is an essential marketing channel for businesses globally. But how do marketers leverage it in the right way? We all know the ups and downs when it comes to advertising on Facebook. From disapproved ads to disabled business managers and other things not mentioned. In this post, we will share with you 6 advertising tips you can use while running your Facebook ads.
1. Tap Into CBO - Campaign Budget Optimization: We have been hearing this for some time now, If you are new in FB ads, you might be asking: "What is CBO?''. CBO stands for campaign budget optimization and means that all Facebook campaign optimizations will be made from the campaign level. Advertisers will no longer manually control daily and lifetime spends at the ad set level.
CBO was a major, much-heralded update Facebook made to campaign setup options in late 2017 and which it rolled out worldwide last year. At first, the feature was fairly unimpressive in terms of results for those who tested it, and many advertisers became skeptical about the apparent lack of control they would have over their ads.
Basically, the place where you set your budget shifts from adset to campaign level. The theory goes that Facebook will allocate most of that budget to the top-performing adsets, like this:
There are several major advantages of using CBO
a. You are able to make significant budget adjustments for the overall campaign with minimal impact on the optimization process (in a standard setup any significant change impacts the adset learning phase)
b. Advertisers with smaller budgets may be able to make more efficient use of their spending by testing numerous variables within one campaign and budget rather than having to split budget across multiple adsets
c. It is a simpler way of setting and managing the budget for less experienced advertisers
2. Capitalize on Video View Retargeting: Yes, One highly effective form of retargeting (even for businesses without a website or with low traffic) is utilizing one of the available video view options. These are numerous; from people who have viewed 10 seconds of your video to varying video view percentages ranging from 50% to 95%. You can create a custom audience of these people and make an LLA our of them form 1% to 6% or even 10%
This means that even if your video is only 15 seconds long, for someone to watch more than half of it is a fairly major achievement and a decent signal of more-than-passing interest. Obviously, users watching 95% of your video is an even stronger indicator of interest.
If your video is longer than 15 seconds, 50% or 75% view audiences are your best bets for an optimal combination of audience size and interest level. Sending your video out to a fairly broad audience, letting them decide how interesting it is, and then retargeting based on user behavior can, therefore, be a winning, cost-effective tactic. This especially rings true if you are on a tight budget.
PRO TIP: You can create Lookalike audiences of 75% or 95% video viewers to use in other adsets. Plus, create a Lookalike of people who only viewed 3 seconds or less that you can test as an exclusion audience to remove users less likely to be interested in your product.
3. Use Manual Bidding To Win More Auctions: Facebook's manual bidding strategies allow you to set a cost control against the objective you're looking for. You tell Facebook how much a conversion or objective is valued or how much you're willing to bid in the auction, and Facebook will use your budget to achieve those goals.
Facebook’s machine learning is pretty smart, meaning that the lowest cost (that used to be called ‘auto’) bidding is often the best option for advertisers to use.
Facebook suggests a bid for you when you select this option but a better, more scientific, way to do this is using your goal Cost Per Acquisition/Purchase and either setting bids at multiples of this (so if your CPA/CPP is ₱250 then manual bid in ranges a=of ₱180,₱250, ₱300, etc) or in ‘clusters’ around it (e.g ₱150, ₱200, ₱250, ₱300, ₱350, etc).
PRO TIP from Justin Marshall of Ad Hoc Media: “Start with a manual bid cap so low that it’s not spending your daily budget. If the ROAS (Return On Ad Spend) is good, then duplicate the ad set and up the budget by 25 or 50 cents. Continue doing this until you find a bid cap that gets a good ROAS but also spends enough money to make an impact.”
4. Invest Time In Creatives: Targeting is one thing but a bad creative can ruin your ads totally! Take time to prepare good product videos and creatives. Remember that this is what you show your buyers and if you cannot convince someone with your creative then you have a big task ahead. Video is always recommended and you can make your own videos or use editors. Here at OJMD, we recommend PINOY ECOM VIDS. You can find them on Facebook and ask for more details!
That's it, but it is not all! There are a lot of tips out there. Leave a comment below