In this blog you’ll learn about 5 tips that will help you in creating successful marketing campaigns on Facebook:
- Lookalike Audiences
- Cost Cap Bidding
- Split Testing
- RTM Method
1. Lookalike Audiences
If you have ever stranded away from the ‘saved audience’ in which you target people based on their interests or demographics, you would’ve noticed that you also have an option of Lookalike Audience. Facebook pixel and conversion tracking records the actions taken in your website, whether it is leads or purchases. Using these event-based website custom audiences as the source audience, you can create new lookalike audiences. These new audiences will have similar interests as those people who took the particular action selected by you.
As indicated in the image:
- a. Select event-based source for lookalike audience
- b. Input the location
- c. Select audience size as 1%. These are most similar people to your selected audience.
While marketing, consider remarketing as your other friend. If you have just launched a new product in the market and are looking forward to pushing the same, you can show its ads to people who purchase regularly from your website. You can do this either by creating a custom audience based on an event, say purchase, or by simply uploading a list of people.
3. Keeping Lowest-Cost Cap Bidding
Under bid strategy, lowest cost is enabled in your ad sets. This means that Facebook is trying to get results for you at lowest cost possible. A bid cap can be set here. This way, you’ll be able to ensure that you get results under a particular price. Say, if you set this cap to Rs.500, it would mean that Facebook will try to ensure that costs per result doesn’t exceed this amount.
Depending on the price of your product, you can also raise this bid so as to outrace the competition wherein your ads are shown to people who are most likely to convert. Therefore, with a budget of Rs.5000, you must be able to have at least 10 conversions.
4. Split Testing Tool
This is another tool that can come handy for you to know which type of ad actually works best for your business. You can test ads by creating their variations of an ad through change in:
- Ad Text
- Website URL
- Age and gender
Once you create a split test of the ad, the budget allocated will be divided into 2 so that equal amount is spent on both. At the end of the test, one with more conversions at lesser cost is chosen as the winner of the test. This way, you can identify what works best for your brand in ad campaigns.
5. RTM Method for Nurturing Audience
While running marketing campaigns, once you have garnered sufficient link clicks, you can start remarketing for the users who have visited your website but haven’t made any purchase yet through the RTM method.
In case you are running an offer, you can remind them about it through ads to create a sense of urgency. This is the reason why many ecommerce brands often show you ads with the message “Only 2 hours Remaining”.
Showing testimonial ads to these mid-funnel users can be beneficial for you as it increases their trust factor in your brand and is no less than a social proof of your product being better than others.
These ads do not take users to a landing page but open a conversation with you. They are easy-to-open & include direct communication with your target audience. You can influence the buying decision of a customer or resolve their concerns through messenger ads.