Facebook ads require great attention, they are a major source of revenue for all small and big businesses.
Here are 9 ways to optimize it.
1. Drive more data
Most of the time, poor ROAS on Facebook comes from a very common mistake known as over-segmentation. Facebook actually loves data and relies on it to make decisions, when data is limited it hampers your ability to optimize.
Even a high performing ad that is driving conversions, but low data volume will cause inconsistent performance.
The over-segmenting audience can make it difficult to get consistent performance.
To improve performance if the conversion is low you can do testing the removal of segmentation around devices, platforms.
2. Look for outliers
One of the common mistakes is even when something new launches, the targeting is still the same. You need to take a look at the performance breakdowns and see if something is needed to change.
Try some tweaks like changing the age range, placements, and see if it’s performing well or not. Sometimes even Facebook gobbles money without producing results.
Try adding your ad sets with other ads and see if it performs well.
3. Test different objectives
Sometimes people use a mix of campaign objectives, depending on their goals. And sometimes it gives a really nice boost in ROAS.
So testing different objectives can be the best alternative to improve ROAS.
There are a lot of different ways to improve your performance with different objectives, so be creative.
4. Test different bid strategies
Sometimes testing a different bid story can boost the performance of your campaign.
I have seen many people tempted to use cost cap, as everyone wants manual control, manual bidding strategy. However it only works in few cases, I have seen many times it restrict results volume.
Because Facebook relies on volume to make good bidding decisions, so sometimes they are not a cost-effective strategy.
Instead, i prefer “lowest cost” or “value-based” bidding.
Lowest cost bidding allows you to tell Facebook which results in you want to optimize toward and get as many of those with the given budget.
I personally think the lowest-cost bidding strategy gets better results than cost capping.
You can test your different kinds of bid strategies and see what’s effective for you.
5. Test new creatives
Test your creatives, and if the target doesn’t seem to be responding, then your creatives are the problem. Test your creatives, creatives are the kings on Facebook.
Test different formats, fonts, and if you’ve got the resources to make different creatives for various placements, it can absolutely be worth customizing your ads.
Test your creatives, will allow you to acquire engagement more quickly.
6. Optimize your mobile experience
A big chunk of traffic comes from mobile, so it’s really important to have a good mobile experience.
If your site takes a lot of time to open or requires too many clicks, it’s going to take a toll on your conversion.
Anyone who has to go through the checkout process on a mobile phone knows that it can be a painful experience.
Mobile experiences can play a big role in your Facebook ads campaign.
7. Reduce friction
There are a lot of ways to reduce friction on a site, some of the methods we’ve covered above.
If you have a well-oiled system for converting higher funnel leads, such as high converting emails, another way to reduce friction might be by driving folks to higher funnel micro-conversions.
Those conversions are less expensive, so you can easily convert them from emails.
I always recommend using remarketing campaign, that targets people who didn’t complete their purchase.
8. Test different journeys
Testing different journeys can also help to find a better cost-effective campaign.
Check how did your customers land on your page, bought your product, regardless of that journey, check different journeys like, lead gen forms, email drip campaigns that we talked about earlier.
Testing all these different journeys will tell you the most cost-effective campaign which you can run and get more conversions.
But the key when you move up to a higher funnel is not leaving any holes in your journey.
9. Test better Qualifying audience
Having first-party data to leverage out is a start, but you should test on a different audience, you might find a better qualifying audience for your products.
So, test on your audience. For instance, lead gen advertisers, you may pull an inventory of sales, opportunities, SQLs.
Qualifying your lists gives Facebook a more specific reference as to who you exactly want to target.
Test different audience segmentation and check if it helps you in improving your ROAS.