How To Optimize Facebook Ads for The Highest ROI

How do you get the highest return on investment from your Facebook ad spend?

If you want to maximize your ROI (return on investment), you need to optimize your campaigns to reach all your potential customers.

This means not only understanding what a good return on ad spend (ROAS) is, but also implementing Facebook marketing best practices and the smartest strategies to deploy for your campaigns to succeed.

Here are three tips and some best practices to optimize your Facebook ads for maximum ROI!

Tip #1: Build a Marketing Funnel, Not Just an Ad

It’s not just about creating a Facebook ad; a funnel is a visual representation of the steps it takes to convert an active user from one stage of interest into another, and the ad is just the first step!

A conversion funnel starts with an ad that includes a lead magnet (like a free ebook) which captures attention and gets a user interested enough to click through.

They should then arrive at a landing page where you offer something valuable to people who choose to sign-up for your email list or fill out a form for a free trial. 

The next funnel stage is the conversion page, where they enter their email address and opt-in to receive emails from you. This is followed by some sort of auto-responder sequence to nurture leads into customers.

The goal of any marketing campaign should be to move people through the sales funnel efficiently, so be sure to take the time to plan out every stage of the customer journey during your campaign setup first!

Tip #2: Remarket to Your Previous Audience 

Are you always looking for new eyes on your ads? Don’t neglect the audience network that has already shown interest! 

Retargeting on Facebook allows you to retarget users who’ve shown interest in your products before. So, if someone visited your site after clicking on an ad, but there was no conversion or opt-in, Facebook can show them a reminder of your original ad, or a related topic.

For example, if you’re selling kitchen appliances, you could display a different ad to users who previously looked at your refrigerator section. Since they clicked once already, it means they had an interest in what you offered, so it’s worth reaching out to them again rather than constantly reaching out to new people!

Curious to learn more? We’ve got a great article about Facebook Retargeting Strategies and how to implement first and second touch content strategies. Also, check out our blog on working with Facebook Lookalike Audiences! 

Tip #3: Run Several A/B Tests

It’s a truth we repeat often: no Facebook ad works perfectly on the first try. That’s why A/B testing is such a vital strategy to include on your to-do list. 

This can be as simple as creating two different versions of your ads and studying their performance after launch.

For example, we would compare one version of an ad where users see the headline “How to Start Investing In Cryptocurrencies” versus another version where they see both the headline and the subtitle “The Complete Guide For Beginners.”

Try two different photos or two different color schemes and compare the results, or whether the CTA ‘Buy Now’ works better than ‘Sign Up.’

Once you’ve identified what works best, you can turn off what doesn’t work, and replicate what does across your advertising strategy, thus boosting your campaign budget optimization. 

Looking for more? Here are some optimization best practices to check off your list!

Create a Campaign Objective

The ultimate goal of any marketing campaign is to move people through the funnel process efficiently. This could be anything from increasing engagement rate, click-through rates, or conversion rates by 20%.  Whichever you choose, be sure to set your advertising goals before running your first test so you can measure progress and make adjustments quickly to save on budget. If you need more guidance on what to choose, check out our blog that breaks down Awareness, Consideration, or Conversion campaign options. 

Know Your Ideal Customer

Before you begin running your first Facebook ad, do you understand your target audience? What are they interested in? What problems are they trying to solve? How much money do they have to spend? These questions will help you craft a compelling message that resonates with your audience.

Create Custom Audiences

Custom audiences allow advertisers to target specific groups of users based on criteria like interests, demographics, behaviors, and location. When creating these audience segments,  choose options that best fit your goals. At the same time, be careful that you’re not working with a broad audience; try narrowing your audience size down to people who live within 50 miles of your location.

Create Compelling Headlines 

Your headline is the first impression your audience receives when viewing your Facebook ad, so it needs to grab attention right away. You may also want to consider creating multiple headlines for different audiences. For example, you might have a headline targeting women between 25–34 years old, and another that targets men between 44-60 years old. For more advice on writing copy that sells, check out our recent blog!

Measure your Campaign Performance Constantly

Once you’ve created your ad and optimized it, start looking at key metrics like clicks, impressions, conversion tracking, and costs for insight into how well your ad format performs with target markets. After reviewing the results of your advertising campaign, you can adjust your budget based on your audience insights. If you aren’t seeing your expected results, or if your cost per action is too high, try adjusting your bids or testing different creatives. For more guidance, read our blog that breaks down the PPC metrics you should be looking for. 

These are just a few of the items on the ParaCore Facebook Ad Checklist; click through to read the rest!

Looking for some personalized guidance on creating a successful campaign that maximizes ROI? Reach out to us!

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