Have you been spending money on Facebook and Instagram ads and not seeing the results you thought you would have?
Well, chances are you’re frustrated and have no clue what you’re doing wrong. The Facebook Ads Manager is a ginormous beast that can take over your village and wipe out all of your crops if you haven’t strategized its management.
Before we dive in too deeply, there are a few things you should know.
You don’t have to be an expert, but you should get familiar with your ad analytics. Ad relevancy, ad frequency, cost per click or cost per engagement are a few that you should be familiar with. Those analytics are going to be the best indicators for both how your ad is performing and how much money you are actually wasting.
You should also have a good idea what your demographic is. If you don’t know your target audience, you’re literally throwing your money into the trash.
Would you rather cast a net in the ocean or cast a net in a pond where you know there are plenty of fish? Your reach numbers will greatly vary between the two, but the leads you will see from it will blow you away.
Here are the best ways to get the most bang for your buck between Facebook and Instagram Ads:
Figure Out Your Ad Budget For The Year
Whether you want it to be $500 or $5,000, it will take a quite bit of planning. As you may know, there are two different ways to allocate your budget via Facebook Ads Manager: Lifetime Budget and Daily Budget.
Lifetime budget allocates your money throughout your ad span. The great thing about a lifetime budget is that it will allocate your ad money based on when your customers are the most active on social media.
For my clients, I like to use a lifetime budget because it really allows you to get the most bang for your buck. A daily budget will just spend that amount of money per day and you won’t see the best results from that. Once you have determined your budget, decide how much money will be allocated to certain campaigns. And, it just allows for an organized, beautiful ad campaign.
Target, Target, Target
Behind every successful Facebook and Instagram Ad campaign there is a beautifully targeted ad. I cannot stress to you the impact a poorly targeted ad has on your brand’s reputation. It might not even be a direct hit per say, but the psychology behind it will.
Here's how to boost your brand's reputation on social media.
For example, back when radio ads used to work, a local used car dealer had the most annoying jingle spin-off from an already popular ad. The ad ran for way too long, like almost 10 years too long, and annoyed the crap out of everyone! I can’t tell you how many times I heard, “I will never buy a car from them just because of their commercial.”
That is the perfect example of not only annoying the crap out of everyone, but also engraving into a potential customer’s head pure annoyance.
Facebook gives you almost endless amounts of targeting options for your ads. All of this data is pooled from the pages you’ve liked and your Google searches. It is extremely accurate; use it to your advantage.
For some clients, I’ll target income; others, job titles; and for most, age ranges and interests. It is a great way to get the most qualified leads for your brand.
Closely Monitor Your Ad
The beauty of a Facebook ad is that if it is performing poorly you can take it down or change your targeting. If you run a magazine or newspaper ad, you get what you get and you spend so much money with little analytics.
So what should you look for to see if your ad is performing poorly?
First, look at cost per click. If your cost per click is above $0.40 then you should probably switch up your targeting.
Then look at your frequency. If your frequency is above a 1.3, you are too highly targeted. I know, I know, it seems like a lot, but you’ll get the hang of it. Think of it as A/B testing; you only want to change one thing at a time.
You can also set up email reminders to look at your ad if you are one of those forgetful ones, like myself. If all else fails, stop the ad, take a look at what went wrong and look at the analytics that I mentioned above.
I know the Facebook Ads Manager is an intimidating platform, but it also can be your biggest ally! All you have to do is look at your analytics, target to the proper people and always check on your ad to track its performance.
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