Before you ever spend a penny on Facebook ads, there’s something you need to understand. Facebook’s job is to get you to spend as much money on their platform as possible. This means that Facebook wants to make you happy. If you’re happy, you’ll stay and keep spending your money promoting on their platform.
From the very start of your ad campaign, you need to ask yourself, what do you want to get with your money? Do you want video views, clicks to your website, unique reach leads, app installs?
Before you ever create an ad on Facebook or Instagram, target an audience, or choose which platform to place your ad on, you have to tell Facebook why you’re giving them money. Then based on which objective you choose, Facebook’s algorithm will go to work to give you exactly what you asked for.
If you choose link clicks, Facebook will specifically target users that click on a ton of links, specifically at the time and place that they normally click.
You tell Facebook you want engagement, Facebook will handpick users that love to like heart and wow posts. The question is, do you know why you’re spending money on Facebook? Is it really to go viral with that video you made, to get more eyes on your landing page, or is it something more?
Little advice: All you need to do is tell Facebook exactly what you want. If you’re looking to build a consistent stream of sales to your business, all you have to do is give Facebook the tools, and Facebook will reach your target audience at the time and place that they regularly buy.
Facebook Ad management
Facebook Ad management is so much more than taking an ad and targeting a specific group of people. It is about understanding how Facebook uses its data to choose who will see your ad, and how they will react to it.
Ads Metrics That Matter:
When you start running Facebook ads, you get intimidated by the sheer amount of data being thrown at you and you begin to question, what should I even be looking at?
The first question you have to ask is, what data is important? That will show me what I should be doing so that I could know what to change. If one number is high or another number is low, what should I be tweaking? Should I change the targeting or should I change the image of the ad? Should I create a new campaign? Do you first need to ask what metrics should I be looking at?
To me, there are four vital metrics that every person who is running a Facebook ad should look at. First, when deciding which ads to run.
Which stands for Cost Per 1,000 Impressions, and this metric is incredibly important simply because whenever you run an ad Facebook is charging you for the cost of that single impression.
They’re not charging you per app install, they’re not charging you per landing page click, they are charging you simply to get that ad shown to that person. So it is incredibly important to know how much Facebook is charging you for that impression because it gives you an indicator of how much Facebook thinks this ad is relevant to that audience.
2. CPC (Cost Per Click)
Now, you know it’s great to get a super cheap cost, which means that Facebook finds it relevant that you’re targeting this ad to this audience.
But if it costs you $100 to get the person to click on the ad,
it doesn’t matter how cheap the impression is, we have to make sure we’re able to get that person from the Facebook ad to your landing page to get them to sign up to your email newsletter or buy your product.
3. time on site:
Again, if you can get millions of clicks to your page, it is irrelevant if the average time on site is three seconds. So you need to make sure that the people coming from Facebook spend the time it takes to read everything on your site to convert.
4. The conversion rate:
If you’re not able to get the person to sign up or to buy, why are you even bothering to run ads. This is why it is so important to first look at these four metrics and then to decide how you should be tweaking your ads.
Now that you know which four metrics to be looking at, the question is, how you’re able to adjust your ads based on the performance of each of these four metrics.
Make Your Ads Better:
1. How to find a good CPM?
The first one we’ll be looking at, as we mentioned before, is the cost per impression, CPM. Now the question is, how do we change this cost per impression? Today there are only two things you could do to adjust that number. You can either change who you’re targeting, or you can change the ad that you’re showing.
Those are the only two things you can change about your ad to improve performance.
Before we get into how to do that, many people ask me, “What is a good cost per impression?” The answer is, there is no way to know broadly what target CPM you should be aiming for.
the goal is to consistently try to beat that number. That’s true for each of these metrics, the cost-per-click, the time on-site, and the conversion rate. Now we know what we can do to improve our cost per impression.
2. How to find a good CPC?
The second metric, CPC, again, has only a few things that can be changed to improve the cost-per-click. The goal is to try to drive your cost per click down. The more people that come to your site, the higher likelihood someone is going to buy.
Just like the CPM only had two factors, the CPC only has two factors. Either you can improve the language on the ad or you can improve the landing page you send traffic to. Those are the only two ways to improve the CPC.
3. How to Keep people on Your Site as much as possible?
I have seen so many times people running ads and they’re super happy with their CPC, they’re getting two site clicks, five site clicks, but then people are only spending 10 seconds on your website.
What you need to figure out is how to keep those people on your site for as long as possible. How do we do that?
Number 1 is to make sure that the ad and the landing page match as much as possible. It should be very clear after they’ve left Facebook, what they’re supposed to do. I see this so many times. People talk about a specific item of clothing to buy, and then you get to the homepage of the website and they have to try to find that specific product.
You want to make it as easy as possible for your users to get from the Facebook ad to convert on the exact offer you’re talking about in the ad.
This can be done either by matching the images up on the ad and the landing page, by matching the headline from your ad to your landing page. Simply making the process as simple as possible. By making it clear to the user, this is where you belong, you know how you got here.
This is exactly what you’re supposed to be doing now, that is going to keep people on your page longer and get them to spend more time on your site.
4. How to Improve Your Conversion Rate?
You’ve targeted the right people, you’ve got your cost per impression down. You’re able to move these people from Facebook onto your landing page, and you’re getting them to spend one minute or two minutes reading through your offer. Now, how do I get them to convert?
Again, there’s only a handful of things I could do right now in this position to improve this specific metric.
Number 1, make the order process as simple as possible. There is a crazy statistic from Unbounce, which is a landing page provider, that shows that the number of forms, the number of questions on your forms, directly correlate to the number of people that convert on your offer. If you just have one box just as for their e-mail, the conversion rate will be about two times better than having a second box. Just asking for their name and e-mail has dropped your conversion rate by 50 percent, and this is true as you continue to add more boxes.
Next time you ask what their dog’s name is or what the last four numbers of their social security number are, remember that every additional question will lead people to leave your site and not ever come back. Make the form as simple as possible.
Now, once you’ve done that, the only other thing you could do is test additional offers. You’ve got this person to the site because of a free shipping coupon, maybe try 10 percent off or some bundle to get them to be incentivized to buy. At the end of the day, those are the only two things I can tweak right now on my site to improve the conversion rate after I’ve already gotten people to spend that amount of time on the site.