With over 1.6 billion active monthly users, Facebook is perhaps the most ubiquitous marketplace for B2C marketing aside from search engines. Research has shown that B2C businesses choose Facebook and Pinterest as the best networks for paid social advertising, in terms of brand ROI.
Brand ROI may come in the form of leads, brand awareness and acquiring a larger audience. Unfortunately, a study by Oli Gardner found that up to 98% of paid advertisement is a waste of money. Does this mean your paid social campaign is a waste of time? Probably not. Oli has very particular terms of what makes a good campaign, but that doesn’t mean that you can’t work to make yours better.
Facebook is especially useful for retaining existing customers and even acquiring relevant ones. Leveraging Facebook’s engagement features and intricate ad network to increase conversion goals is possible, but it all depends on your strategies as an advertiser. Here are 10 effective tactics to increase brand ROI.
Dynamic Product Ads
First, it’s important to upload your product catalog to the Facebook Business Manager. This will be the basis of how you tailor your ads; it’s virtually the same idea as the merchant centre for Google AdWords.
Dynamic product ads have a great ROI because they can retarget customers who may have previously abandoned a purchase from your website. Dynamic product ads also allow you to reach customers across multiple devices or with similar interests who haven’t even visited your website.
You don’t even need to create entirely new ad campaigns using this method, because dynamic ads will complete that step. They pull customer information and information from your product catalog to make new ads specifically targeting people who have shown interest in your website or similar products.
Businesses can use the Power Editor to specify the ad categories and products that they want targeted. Optimize Facebook’s dynamic template to gear specific product images and prices they will pull for each advertisement. Dynamic product ads are Facebook’s gift for customer retention and acquiring relevant new customers while reducing CPC spend.
Multi-product ads are Facebook’s version of the PLA carousel, allowing advertisers to display multiple images and products in one scrollable ad. Case studies from Facebook found that Jewelscent, a beauty and fragrance retailer, reduced its CPC by 3x and acquired new customers for about half of the cost. Similar case studies from Adobe and Target show similar results.
Effective multi-product ads utilize relevant products across their carousel and take advantage of UGC (user-generated content) to help sell their products. Advertisers can also market multiple advantages to buying a single product without being obtrusive. Why wouldn’t you invest in multiple ads over one single ad? Multi-product ads are more engaging, reduce CPC, and lower the cost of acquisition per customer.
Market Organic Content
Organic content can supplement PPC ad campaigns to increase brand engagement. Publishing organic content can also increase your conversions from Facebook users looking for more information on products related to your brand.
Many businesses also enlist bloggers with niche topics relevant to their field to write reviews of their products and to include them in posts. Engaging with bloggers and other thought leaders through comments and organic content collaboration is an easy and inexpensive way to increase your conversion rate.
Advertise to Desktop Newsfeeds
In terms of CTR, the desktop news feed contains the greatest potential for engagement and conversions. Facebook offers a number of options for users to advertise over: mobile news feeds, Instagram, right column ads, etc. The desktop news feed allows for the largest image selection and contains a longer description, resulting in higher engagement.
At least begin with the desktop news feed then slowly extend your PPC ads to other categories once your ROI has begun to take off. Desktop news feed advertisements can be refreshing to other Facebook ads that are irritating to customers.
Tell Your Brand Story
According to a study by Facebook and Adaptly, creating a sequence of ads instead of a single advertisement can increase your conversion rate by as much as 87%. More importantly, communicating your brand story before asking a customer to make a purchase is far more effective than simply making a straightforward advertisement.
Brands have benefited from telling their brand story through sequences for years now. Utilizing strong emotional appeal, brands have created modern advertisements that seek to be witty and inspirational. Facebook is, after all, a source to engage customers rather than a marketplace for them.
Segmenting audiences is the oldest marketing trick in the book. Facebook’s custom audiences feature allows businesses to upload a list of phone numbers or email addresses to develop a list of customized audiences based on their interest and Facebook activities. Facebook checks their data against your business page activity to discover a list of customers your business might also know over Facebook.
Businesses can tailor promotions toward their most loyal customers to retain their existing revenue base. Custom audiences also allows you to invite existing customers to like you on Facebook. Segmenting your audience based on demographics will allow your business to tailor specific ads based on their relevance to your customer interests.
Consider testing different ad groups to see which ones perform the best. Tracking the conversion rate of your ad groups will become the biggest factor in determining your ad success. Consider starting small and testing two different ads with different images and headlines. Remember, the right image or keyword could significantly increase your CTR by over 100%. Discovering which ads perform the best and receive the highest engagement will reduce your CPC and increase your ROI.
Most experts agree that images make or break a Facebook PPC campaign. Images are even more important in newsfeed advertisements than Google PLAs because Facebook users are not actively seeking out products through their Facebook surfing. An optimized image for Facebook could communicate professionalism and brand authority, plus blend in well with organic Facebook news stories.
Research shows that Facebook PPC images receive the highest engagement from ads that feature headshots and people smiling. Images should be professionally taken and sized to communicate brand authority. Images have the biggest effect on CTR within Facebook PPC ads, so it’s crucial that Facebook images are professional and relevant to your ad group.
Advertisements which feature personal attributes and speak directly to customers receive higher engagement than advertisements that don’t. As previously stated, Facebook is ultimately a resource of engagement to discover more information with your customers and to communicate directly with them.
It’s important to manage your Facebook business account page and to honor any feedback you receive from customers. Facebook presents itself as the ultimate customer service platform because businesses can respond directly to consumer complaints without going through the red tape. One of the surest means toward total ROI is retaining your most loyal customer base and engaging directly with them will ensure they remain loyal.
A Facebook pixel is a JavasScript code that can be copied and pasted to every part of your conversion funnel to determine your conversion rate and optimized cost per impression. Determining the effectiveness of your ad campaign will allow to experiment with new ad groups and delete ones that are underperforming. This will determine your total brand ROI from your PPC campaign and evaluate its effectiveness.