Mastering Facebook, Twitter and LinkedIn ads can be the key to bringing a massive amount of new leads at low costs. While Google Adwords focus is search driven traffic, advertising on social networks opens a new world of opportunities – new audiences, new ways to reach prospects and amazing segmentation options. The goal of this guide is providing easy to implement hacks which can help you reduce your current advertising costs by 80%.
Starting with some basics before diving into more advanced tips :
1. Don’t compete against yourself, make sure not to run campaigns for the same audience at the same time
Basic but not trivial at all. When you run multiple campaigns in parallel that target the same audience you’re actually competing against yourself, causing the bid to be higher. You obviously don’t want to run only one campaign at a time as the best way to improve your campaigns is to have as many tests as possible. If you have different audiences (remarketing, lookalikes, audience by interests) run every set of campaigns with a different audience. If that’s not the case or you want to run more tests at the same time try cutting your audiences in a way they won’t compete with each other – for example, a different campaign for each country, different age groups, male/ female. If not competing with yourself isn’t enough to convince you, by testing out different audiences at the same time you can gain faster insights on which audiences respond better to your campaign.
The users you’re targeting are likely to view your ads dozens of times. You want to avoid “banner blindness” which happens after seeing the same ad over and over again. Facebook and Twitter advice to change the ad’s image and copy every 3-4 days. It doesn’t mean you can’t use the same image a few times – run each ad 3-4 days and after a cycle of few ads go back to the first one and start the cycle all over again. Your Audience is likely to forget ads from a few weeks back. Best practice to creating an ad set – try preparing around 5 different images in advanced. I like using images with very different styles to make sure my audience don’t get used to it. The second reason I like using diverse image styles is to test which one works best. Different images I’d test:
- With/ without the product
- With people
- Very minimalist image
- Funny image, “feed like image” (any picture which looks like one of your friend’s might have posted it)
- News related image
- Very dramatic image.
3. oCPM is not always the best choice
oCPM (Optimized Cost Per Mille) is Facebook’s most recommended and popular bidding option. In most cases it works very well and brings better results than CPC or other bidding types. However, when targeting smaller audiences, for example B2B or working with lots of small segments, oCPM results are not optimal. If your audience is smaller than 250,000, oCPM is probably not the best option. If you know exactly how many clicks you need in order to reach a conversion it might be better for you to choose a maximum CPC bid, that way you can calculate your exact expenses for each conversion and measure ROI faster.
4. Decide whether to continue an existing campaign or start a new one based on your score
Campaigns are dynamic and you can change their setting every day or even every few hours. The best practice is probably to start a new campaign every time you want to change parameter so it’ll be easier to compare different campaign results in the future. But, creating dozens or hundreds of different campaigns is time costly. One important thing you should take into consideration is how your campaign scores. A common scenario is – you have a campaign which doesn’t perform well and therefore you tweak it a bit. The problem is its score is already low – your starting position is worse than a fresh campaign and you’re probably paying more for each click. It can also work the other way around, if you tweak campaigns with a high score, you’re likely to get more impressions for lower bids.