Facebook Advertising: 3 Keys to Facebook Success
1. Optimize Creative
The difference in performance between an optimized ad and a poor performer can be extreme. If your creative has not been optimized for performance, you can pay 10X (or more) the costs you would pay with optimized creative. Test aggressively and always search for new winners. Even if you’ve spent millions already, there’s a great chance you can get +20% more efficient overnight.
2. Scale Winners Right Now
Facebook advertisers face significant swings in costs, often up to 50% in a given day for an individual ad. When an ad is performing well, there’s an opportunity to quickly scale at a low cost. Traditional ad management software commonly misses opportunities to scale ads that are performing better right now than they have historically, as historical data is heavily weighed into today’s decisions.
3. Predict Losers and Pause Them Early
When testing a high volume of ads on Facebook, some will perform well but many will perform poorly. Keep a close eye on CTR% and conversion rates on early spend (we’re talking 10 clicks) as a predictor of an ad’s quality. Roll the dice on the ads that look good and quickly shut down the ads that show signs of risk. If you wait for statistical relevance before making a decision on each ad, you’ll see a ton of wasteful spend.
Simple, right? With a commitment to aggressive creative testing and smart ad management software, you’ll be able to master the 3 keys to successful Facebook advertising.