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How to Increase ROAS: Tapping into the Power of Facebook Ads

Scroll down to learn all of our tips and tricks to increase ROAS!

It’s an exciting time to be in digital marketing, especially when it comes to leveraging the power of Facebook Ads. 

The goal of this blog post is to unravel the secrets of increasing Return on Ad Spend (ROAS) – a metric that stands as a cornerstone in our industry.

Facebook isn’t just a social media platform; it’s a dynamic advertising powerhouse. 

Navigating this platform effectively requires more than just a basic understanding of digital marketing; it requires insight, strategy, and a bit of creativity.

This guide is crafted to be your roadmap in the ever-evolving landscape of Facebook advertising. 

We aim to transform complex metrics and strategies into practical, actionable knowledge. 

Think of it as a workshop in written form, where we break down the essentials of ROAS, share industry best practices, and explore the latest tools and trends.

Terms Every Paid Traffic Master Must Know

The Basics of ROAS in Facebook Advertising

ROAS, short for Return on Ad Spend, is a key metric in digital advertising, especially with Facebook Ads. It helps you understand how profitable your ads are. 

Let’s break it down into simpler terms:

  • What is ROAS?:
    • It’s a measure of how much money you make from your ads compared to how much you spend on them.
    • Think of it like a report card for your ad campaigns, showing if your money is well-spent.
  • Calculating ROAS:
    • First, find out how much money your Facebook ads are bringing in. You can use Facebook’s analytics or your e-commerce platform for this.
    • Next, add up all the money you’ve spent on these ads, including costs for creating and running them.
    • Do some simple math: Divide the revenue from ads by the total ad spend. For example, if you make $5,000 from ads that cost $1,000, your ROAS is 5. This means you earn $5 for every $1 spent.
  • Improving ROAS on Facebook Ads:
    • Targeting the Right Audience: Use Facebook’s tools to target your ads to people most likely to be interested.
    • Optimizing Ad Placement: Use Facebook’s Automatic Placements tool to show your ads in spots where they’ll perform best.
    • Managing Your Budget: Use Facebook’s Campaign Budget Optimization to ensure your money goes to the best-performing ads.
    • Tracking Your Ads: Use tools like the Facebook Pixel and Conversion API to see how well your ads are converting viewers into customers.
  • Why Facebook’s AI is Awesome:
    • It helps target your ads more effectively.
    • It optimizes how and where your ads are shown.
    • It learns from your ad performance to make future campaigns even better.

Understanding and using ROAS effectively, especially with Facebook’s tools and AI, can really boost the performance of your ad campaigns. It’s all about spending your ad budget wisely and making sure your ads reach the right people.

Strategies for Enhancing ROAS on Facebook Ads

Increasing ROAS (Return on Ad Spend) involves several key factors that can significantly enhance the effectiveness and profitability of your advertising campaigns. Here’s a breakdown of some crucial elements:

  • Targeting Precision:
    • Sharpen your targeting to reach the most relevant audience. Utilizing detailed demographic, geographic, psychographic, and behavioral data helps in targeting ads to users more likely to convert.
  • High-Quality Ad Creative:
    • Invest in creating compelling and high-quality ad content. This includes visually appealing images or videos, engaging and clear copywriting, and strong calls-to-action. Ads that resonate with the audience tend to have higher engagement and conversion rates.
  • Optimized Landing Pages:
    • Ensure that the landing pages your ads link to are optimized for conversions. This means they should be relevant to the ad content, load quickly, be easy to navigate, and have a clear call-to-action.
  • A/B Testing:
    • Regularly test different elements of your ads, such as headlines, images, and calls to action. A/B testing helps identify what works best with your audience, allowing for continuous improvement of ad performance.
  • Effective Budget Allocation:
    • Wisely allocate your ad spend. Analyze which campaigns or ad sets are performing well and allocate more budget to them. Conversely, reduce spending on underperforming ads.
  • Utilizing Analytics and Data:
    • Leverage data and analytics to make informed decisions. Regularly review your ad performance data to understand what’s driving success and where there’s room for improvement.
  • Ad Format and Placement Strategy:
    • Choose the right ad formats and placements that align with your campaign goals. Different formats and placements can yield varying results, so it’s essential to align them with your specific objectives.
  • Understanding the Customer Journey:
    • Tailor your ads according to the different stages of the customer journey. Different messages and calls-to-action might be needed for customers at the awareness stage compared to those ready to purchase.
  • Seasonality and Timing:
    • Consider the timing of your campaigns. Align your ad campaigns with seasonal events, holidays, or specific times of the day or week when your audience is most active.
  • Long-Term Customer Value:
    • Focus on acquiring customers who have the potential for high lifetime value. It’s not just about the initial conversion but also about fostering long-term relationships with customers.

By focusing on these factors, you can increase the effectiveness of your ad campaigns, leading to a higher ROAS. The key is continuous testing, learning, and adapting to what works best for your target audience and business goals.


As we wrap up our exploration into maximizing ROAS with Facebook Ads, let’s recall the wise words of Philip Kotler:

“Marketing management is the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering, and communicating superior customer value.” 

Philip Kotler

This quote beautifully encapsulates the essence of what we’ve discussed. 

Marketing, especially in the dynamic realm of Facebook Ads, is indeed a perfect amalgamation of creativity, data science, intuition, and meticulous research.

The journey to high ROAS is continuous and evolving, requiring us to adapt and learn with each campaign we launch.


Now, it’s your turn to apply these insights and strategies to your Facebook ad campaigns. Remember, every ad is an opportunity to connect with your audience and create value that resonates. 

We encourage you to experiment, analyze, and refine your approach to Facebook advertising. Use the tools and best practices discussed here to enhance your ROAS and contribute to the growth and success of your business.

If you’re ready to take your Facebook advertising to the next level, or if you have any questions, insights, or experiences you’d like to share, we’d love to hear from you!

Key Facebook Ad Metrics for Event Managers

header image that says "key facebook ad metrics for event managers"

Event managers shoulder the immense responsibility of orchestrating flawless events, from dazzling concerts to high-stakes business conferences. We understand the importance of every filled seat and every smiling face in the audience. That’s why we’ve embarked on an in-depth journey into the ultimate guide on ‘Key Facebook Ad Metrics for Event Managers.’ We believe that your event’s potential is boundless when you harness the power of data.

In today’s digital marketing era, Facebook has emerged as a game-changer for event promotion. However, it’s not just about launching ads; it’s about comprehending and effectively utilizing Facebook ad metrics to set the stage for triumph.

Over the coming weeks, we’ll delve deeper into these metrics. For now, let’s start with an introduction (or a refresher) on the metrics that should be tracked and analyzed to ensure the success of your digital marketing efforts.


The Significance of Metrics

Key Facebook ad metrics play a pivotal role in event promotion by providing event managers with the data and insights they need to make informed decisions, optimize their advertising efforts, and maximize the success of their events.

Ad Tracking: What It Is & How to Do It

These metrics offer a clear view of the return on investment (ROI) for your ad campaigns. They allow you to calculate the revenue generated or event attendance achieved for each dollar invested in advertising. This insight is indispensable for evaluating the financial success of your event promotion efforts.

Instead of relying on intuition or guesswork, event managers can base their decisions on concrete data and insights, leading to more effective and efficient advertising strategies.


An Overview of Key Metrics:

  1. Click-Through Rate (CTR): CTR represents the percentage of individuals who clicked on your ad after seeing it. A high CTR indicates that your ad is engaging and is driving interest in your event.
  2. Link Clicks: This metric tracks the number of times people clicked on a link in your ad, directing them to your event’s landing page. A high number of link clicks signals strong interest in your event.
  3. Landing Page Views: Landing page views count the number of times your landing page was loaded and viewed by users, a critical step in the conversion process.
  4. Conversion Rate: The conversion rate measures the percentage of individuals who took a desired action after clicking on your ad, such as event registration or ticket purchase.
  5. Cost per Click (CPC): CPC represents the cost for each click on your ad, crucial for managing advertising costs while achieving desired results.
  6. Ad Impressions: Impressions indicate the total number of times your ad was displayed, providing insights into the reach and visibility of your ad campaign.
  7. Return on Ad Spend (ROAS): ROAS compares the revenue generated from your ads to the amount spent, directly indicating the financial success of your ad campaigns.
  8. Cost Per Result: This metric quantifies the cost associated with achieving specific results in your ad campaign, allowing you to measure your investment for each successful outcome.

The importance of key Facebook ad metrics for event managers cannot be overstated. These metrics are not just numbers; they are powerful tools that can make or break your event advertising campaigns.

We encourage event managers to apply the insights gained from this guide to their upcoming event advertising campaigns, regardless of the scale of the event. Monitoring and analyzing Facebook ad metrics can be the key to achieving your event objectives.

Stay tuned to our blog as we continue the ‘Metrics that Matter’ series. In future segments, we will delve deeper into event management, providing additional valuable insights, tips, and strategies to enhance your event planning and execution.

Thank you for reading, and here’s to your future success in event management!

5 Unique Ideas For Growing Your List Using Facebook Ads (That Your Audience Will Love)

Growing Your List

Growing your list, for the brands who are a little too “hip” for white papers, reports, and webinars… 

We’ve got your back.

We’ve put together a go-to list for unique, out-of-the-box ideas for attracting prospects and turning them into leads using Facebook Ads.

Don’t get me wrong. Webinars, case studies, and reports all work well as lead magnets. But you won’t find those on this list.

This collection is for brands who want to spice things up!

We’ve seen all of these ideas work for our clients (plus, they’re all a lot of fun).

But before we jump in, let’s cover a few basic Facebook ad principles to help you get the best results for growing your list from whichever idea you put into action.

First, it’s important to understand that warm audiences convert better than cold. So, when asking for something from your audience (even an email address or other personal information), you’ll find that those who have interacted with you before will be more likely to exchange information or money for something they perceive as valuable than someone who has never heard of your brand before.

For that reason, you can think of these ideas as a middle milestone for your prospects.

Use these ideas to move colder prospects closer to a sale by inviting them to engage with your brand at a higher level… one that requires more commitment on their part.

They’ll need to exchange some information for the offering, but these offerings also might require some time on their part to really implement. So, they’ll typically work better with audiences who have had some exposure to your brand already.

And they’ll help cold prospects become warm prospects, so you can more easily market to them in the future when you’re ready to ask for a monetary exchange for a product or service.

Ok, back to the ideas!

The following are 5 unique ideas for growing your list using Facebook Ads.

Growing Your List - Timely Checklists: 

If you’re ever at a loss for what to promote, just take a look at the calendar.

Seasons, holidays and industry events could all serve as inspiration for a unique lead magnet or promotion.

We’ve seen good results using seasonal, holiday or other “timely” checklists.

Is there something your prospects should do around back to school or Halloween time? Can you help them get prepared for an upcoming industry conference?

When the season, holiday or event is on your prospects mind, it’s easier to enter the conversation with a helpful checklist (and it’s easier to get your prospects to share since the event is already on their mind).

Here’s an example of a holiday specific checklist that will help in growing your list. In this instance, warm audiences performed better, resulting in 329 leads at a total of $3.86 per lead. 

Note: remember to test different audiences, images and copy! All of the campaigns in the previous example made the same offer, but some performed significantly better than others.

Plans

Can you create an experience for your audience and help them walk through a challenge, each step of the way?

Consider putting together a digital kit to help them achieve a small goal.

Try meal plans, lesson plans or planning pages.

These kits could include a plan to follow for a day, a week or a month. It’s a good way to help the audience engage deeply with your brand and develop habits that they’ll want to continue (with your help).

Giveaways

Giveaways can get people talking about your brand and sharing the opportunity with their friends.

This is also a good way to develop a targeted list of people who are interested in a specific product, which means you can market that product to them again later on using Facebook’s retargeting options to show your ads to people who visited the giveaway page!

Ask the Expert

Are there questions that your audience asks over and over? Do they feel awkward asking in a public forum or on your social media pages?

Ask The Expert campaigns send prospects to Messenger where they get to ask you anything they want.

This is a nice way to engage with prospects on a personal level, but you can also create a process for responding where you’re sending prospects to blog posts, downloads or other goodies to get them closer to becoming leads.

Challenges

Why not create a challenge to inspire your audience to take action and reach a goal?

Run the challenge inside their inbox or right inside a Facebook group.

Make it fun with videos or live streams. Invite everyone to interact inside the group for added engagement!

So there you go…

5 unique ideas for growing your list using Facebook ads. 

Which one do you think your audience will love the most?

In the meantime, why not find out what the “7 biggest mistakes you’re making with your Facebook Ads are”, and how to fix them:

                       

7 Signs It’s Time To Try Facebook Ads

7 Signs It’s Time To Try Facebook Ads

Do you know the signs that it’s time to try Facebook ads?

"In the modern world of business, it is useless to be a creative, original thinker unless you can also sell what you create."

- David Ogilvy

In the last 20 years, the internet has made just about everything infinitely easier.

From ordering food to finding a date to seeing a doctor, consumers can access virtually any product or service they desire with unprecedented ease and convenience.

Conversely, the same is true on the business side.

Creating a product or service and offering it up to the right people has never been simpler.

But selling that product or service… that’s a bit more challenging.

As it has become easier and easier to make offers online, the competition has gotten fierce.

For many businesses, social media advertising is a viable solution and could lead to some impressive results (as long as you’re following the right strategy).

But is it for you? Let’s find out.

Following are 7 signs that you should be running ads on Facebook.

#1: It takes your customers more than one visit to make a buying decision

Most businesses fall into this category. People typically won’t make a purchase the very first time they are exposed to a product or brand. This isn’t true in all cases, but consider this… how likely would you be to drop $50,000 on a car you’ve never heard of or seen before?

Sure, that’s a big purchase…

But work your way down. Are you more likely to spend $20,000 on an unknown brand? $5,000? What about just $500?

Even smaller purchases requires a level of trust that is difficult to establish on the first touch.

Facebook Ads makes it easy to keep in touch with people who have visited your page, checked out products, or even who have abandoned their cart.

You may not have turned them into a customer the first time they stumbled across your site, but with a strategic campaign that nurtures and moves them along the customer journey, you’re more likely to turn that prospect into a customer at some point down the line than if they never run into your brand online again.

#2: Customers Can Easily Purchases Online

The less friction between seeing an ad and the customer getting what he or she wants, the better chance they will take action.

For example, it’s easier for most customers to enter their information online once they decide to make a purchase than it is for them to pick up the phone and order via an inbound call center.

Although this isn’t a hard and fast rule (we have clients who run local services who require customers to call or stop by), it helps.

(If you're interested in promoting a local store on Facebook, check out this post for more ideas).

#3 Your Business Is Scalable

If you’re able to service more customers without greatly increasing your costs, you may be a good candidate to try Facebook ads.

That’s because it’s possible to increase your profits while advertising without having to increase costs per goods sold.

For example, if you sell a digital product that won’t run out of stock, and if an influx of customers won’t strain your current team, you can scale your business using advertising and still maintain the same (or greater) profit margin.

#4 You Want To Target a Specific Niche? Try Facebook Ads

Facebook makes it easy to target a very specific avatar. If you know that your ideal customer falls within specific demographics, it only takes a few clicks to find them and show them timely messages.

The better you know your avatar, the better you can target them. Do you want to reach customers in the greater New York area who are between the ages of 25-55? Easy.

Want to target moms living in the U.S. who have children in grade school? You can do that too.

Whoever you want to reach, you can find them on Facebook, giving you a great reason to try Facebook ads

#5 It’s Time To Build An Audience

Facebook advertising is a great way to build an audience. If you are gearing up for a launch, an event, or otherwise want to build up an audience that is familiar with your brand, try Facebook ads; they can work for you.

Besides running ads to drive traffic to a sales page, ads can be used for a number of reasons. Try Facebook ads for building an audience using native video, or sending traffic to content on your website. Or, boost social posts to stay front of mind.

#6 You Have a High Converting Landing Page

If you have a landing page that converts well, why not send over more traffic?

If you try Facebook ads, they can give a quick boost of traffic that would otherwise be difficult to get organically.

If more targeted leads will lead to more customer conversions, you may benefit from paid ads. However, be careful. Simply sending traffic to a page that isn’t converting well won’t do any good.

Check out this article for more tips on optimizing your landing page for ad traffic.

# 7 When the Lifetime Value of A Customer Is Higher Than Advertising Costs- It's Time To Try Facebook ads

When deciding if paid ads will work for you or not, the bottom line is… is this good for business?

To answer that, it’s important to consider the lifetime value of a customer.

Calculate the profit on the initial sale, but also consider future sales.

Because you experience an acquisition cost every time you acquire a new customer, but pay significantly less (or virtually nothing) to sell to the repeat customers, it makes more sense to try Facebook ads when you can continue to sell to that same customer for a long time to come.

If the expected lifetime value is higher than what you’ll pay to turn that prospect into a customer, it’s worth it!

So… are you ready to try Facebook ads? If any of these 7 signs resonated with you, it’s worth taking a look! 

In the meantime, why not find out what the “7 biggest mistakes you’re making with your Facebook Ads are”, and how to fix them:

                       

The Quick & Dirty Facebook Ads Checklist

Facebook Ads Checklist

Measure twice, cut once. It’s always a good strategy. I like to apply it to Facebook ads because carefully checking work is especially important when you’re about to spend valuable ad dollars on Facebook ads campaigns.

There are a lot of moving parts to a Facebook ads campaign. It’s easy to click the wrong button and not even realize it.

I want to make sure you have all of the checks in place to reduce the chances of a campaign going live if it’s anything less than perfect.

This helps make sure your creative is on point and the correct audience is targeted, but it also guarantees you’re not blowing your budget because of a careless mistake (sending visitors to a landing page that doesn’t function, for example).

This checklist will help keep you, well, in-check.

After creating a campaign, use this Quick and Dirty Facebook Ads Checklist before going live to make sure everything is in place.

I’ve broken down this checklist into four categories to make the final review quick and easy; the campaign level, the ad set level, the ad level, and the landing page.

Step 1 - Review the Campaign

Check the campaign name. Is it clear and to the point? A sloppy naming structure creates confusion later on, especially once there are a lot of campaigns in one account.

Check the campaign objective. What’s your goal? Select an objective that matches. (Try to get this right during the creation process as it’s a little tricky to change later on).

Step 2 - Review the Facebook Ads Set

Check the budget. Choose between a daily or lifetime budget and make sure it’s something that makes sense for your business goals.

Verify the target audience. Check demographics or custom audiences and make sure they’re set how you’d like them. If you’re using a custom audience, verify that you have the most up-to-date data.

Verify the audience size. An audience should be narrowed, but not too small.

Check the dates. Verify that the ad set will be turned on and/or off at the right time, or that it will run indefinitely if that’s the plan.

Verify the placement. Whether you’re targeting desktop, mobile, right hand, or Instagram, check that your ad will be placed in the correct spot.

Tip: Select all ad sets to edit at the same time to verify variables that will remain consistent across ad sets. This will help you spot any inconsistencies that you may have overlooked while viewing individual ad sets.

Step 3: Verify the Facebook Ads

Check the image for consistency. The image should be consistent with the landing page and reflect the goals of the campaign.

Check image text. Image text shouldn’t exceed 20%. You can use this tool to verify.

Crop images. Take a look at how the image will appear on all of the placements for that ad (mobile, desktop, etc.). Crop the image if needed.

Read copy. Check for typos, grammatical errors, or awkward sounding phrases. Reread the copy in all of the text areas (text block, headline, and link description).

Check for Facebook policy violations. Headlines and link descriptions should be consistent with the landing page and not violate any of the policies.

Check links. If you’re sending anyone to a landing page outside of Facebook, verify the links are correct and functioning.

Tip:  Test multiple images per campaign. You may be surprised at which one converts better!

Step 4: Verify the Landing Page

Check landing page for compliance. Facebook reviews landing pages before approving Facebook ads, so make sure yours is compliant.

Verify the pixels are working. If you haven’t pixeled your pages yet, you really should. Once the pixels are in place, use the Facebook Pixel Helper for Chrome to verify it is working properly on all of your pages.

Verify the landing page on mobile. If you’re targeting mobile, assume a good portion of traffic will come from a mobile device. Make sure your site is functioning and legible on a mobile device.

Tip:  Follow these tips to create a high converting landing page.

If you’ve checked off all the boxes on this Quick and Dirty Facebook Ads Checklist, your campaign is good to go!

At Marigold, we run each campaign through a series of 4-5 levels of review. Each review is conducted by a different member of the team so the chances of going live with a less than perfect campaign are minimal to none.

I suggest you do the same, especially if you’re new to running ads.

If you can have a teammate who can look over the campaign, great. If not, take your time to go over each item on this checklist in detail so you don’t miss those little mistakes that could cause a decrease in conversion.

There you go, the quick and dirty Facebook ads checklist. I hope it helps!

In the meantime, why not find out what the “7 biggest mistakes you’re making with your Facebook Ads are”, and how to fix them:

                       

Marigold Marketing Group | Facebook Advertising