10 Ways To Improve Your Facebook Ads Performance
If you run Facebook ads I'm willing to bet that you've come across a number of different agencies offering to help you "improve your Facebook ads performance", or something like that.
(Yes, I understand the irony that we're a Facebook ads agency offering to do just that too...but hear me out, we may actually be able to!)
But most agencies, when questioned about how they can improve on your current strategy, help you scale more efficiently, help you get a better ROAS or even what exactly it is they do different or better, become vague & cagey with their answers.
Have you ever experienced that?
I'm guessing it doesn't instill a lot of trust in their service nor give you the opportunity to see any possible benefit or value to you & your bottom line, right?
Well, good news, now you can use these 10 points to find ways to improve your ad performance yourself today & start seeing the benefits tomorrow!
1. Exclude warm traffic from cold traffic campaigns
Avoid spending money on serving ads designed for cold traffic to people who have already interacted with the ad & people who are already leads or customers by excluding them from your targeting as a custom audience.
2. Set your initial Ad Set budget high enough to reflect the true value of a lead/conversion
I've noticed that a lot of the advice out there suggests that you start an Ad Campaign with a $5/day budget - which is ONLY OK if the maximum value of a lead/conversion to your business is a fraction of that.
If a lead/conversion is worth more than say $1-2, you'll need to set a daily initial Ad Spend that's 4-5x more than the value of a conversion. For example, if a lead is worth $8 to you then your initial Ad Spend should be in the range of $32-40/day while testing the new Ad Set.
This is because a part of the way impressions are awarded to advertisers depends on the size of their bid (which is a fraction of Ad Spend that is either set manually or calculated automatically) & the algorithm interprets this bid as how much a conversion is worth to you.
Advertisers who are willing to spend more for a lead are going to be awarded the audience that the algorithm believes are most likely to respond to the ad as per its objective (engagement, page likes, conversion events, video views, etc)
If your budget is too low you won't be awarded the valuable impressions you need to determine if your Ad really is profitable & you may end up killing a winner without even knowing & costing yourself a lot of potential leads & sales.
3. Test the different Ad Types
Despite what people say, there is no 'best' Ad Type in general however, there is almost always a 'best' Ad Type for each campaign TIC (targeting, image, copy).
In order to find out which one will deliver the best performance for you, you'll need to regularly include Ad Type variations as part of your testing strategy to find the best performing combinations.
Keep in mind that it's highly likely that over time the winning Ad Type will change & this is why regular testing is so important to maintain (or improve) your Ad Campaign performance.
4. Make your retargeting campaigns specific to the event you're retargeting
One of the best things about a retargeting campaign is that you know the people seeing your ad have interacted with your business before, you know where & you know when.
For example, if you're retargeting people who viewed a sales page but didn't convert your ad can mention a trial/discount/bonuses/urgency, etc or you could retarget people who read a blog post with an offer relevant to the content.
5. Ensure your audience size is large enough for prospecting campaigns
When you set an audience for your Ads they algorithm actually only serves them to a percentage of that audience.
During the first few days of your Ad running the algorithm will serve your ads to the people it thinks will be your ideal audience and then 'learns' based on how these people engage with your Ad.
After that 'learning time' the algorithm only shows your Ad to people it thinks are most likely to convert based on what it 'learnt'. If your audience is too small the algorithm will run out of people to show your Ad & you'll experience what's known as 'ad fatigue'.
Conversely, if your audience is too big the algorithm won't be able to narrow down an audience and 'learn' properly making it is likely that your Ad will end up not being shown to your ideal audience.
An audience size of 500,000-1,000,000 is usually good for a smaller budget & a larger budget can usually accommodate an audience up to 5,000,000.
6. Set your conversion campaigns for the most profitable action
People drop out of your funnel at every point between lead & sale therefore, in order for the algorithm to target people who are most likely to make it through to completing a purchase (or take your most profitable action) you need to set the conversion campaign for these types of conversions rather than just leads.
7. Frequently refresh the creative for retargeting campaigns
Your retargeting campaigns are going to have a much smaller audience size than your other campaigns which means that there is a very high chance that they'll also have a much higher frequency.
This means that people will see the same ads over & over again which will be beneficial at first but then have the opposite effect as people begin to experience ad fatigue.
By limiting the frequency, rotating your winners & regularly testing your creatives you'll be able to maximize your campaign results.
8. Update your uploaded lists for custom audiences
If you're using an uploaded list of website visitors or customers for your lookalike audiences or custom audiences you should make sure they're updated regularly to give the algorithm the most recent information about your target audience.
9. Use the same post ID when you're only changing your ad targeting
When you have a successful image & copy combination you'll want to retain the social proof (likes, comments, shares) for that Ad in order to increase trust & conversions.
Therefore, instead of duplicating a successful Adset to change your targeting or budget you should make new Adsets with your different targeting/budget options & use the same post ID as your successful Ad.
10. Make sure creatives are paired with the demographic targeting that converts best.
Sometimes an Ad Creative that appears to be performing well may only be performing really well for a specific demographic but not so well for others, making the average performance look good, but in reality it's not as good as it could be.
For example, your Ad Creative may be getting great results in the 25-44 age range, OK results in the 45-54 age range & poor results in the 55-64 age range, giving an average of a good result however, by targeting only 25-44 age group your ROAS will be much higher.
You may even have an Ad Creative that doesn't look like it's performing that well overall but could be killing it for a small demographic like women 55-64.
By testing a lot of different Ad Creative combinations & looking at all the different metrics that can impact performance you'll be able to optimize your Campaign performance much better.
The trouble with the Facebook Ads Manager dashboard is that this data is not easily accessible for all the metrics you need to look at in order to fully optimize your campaigns this way.
That's where we come in... If you're interested in finding out what your top 5 & bottom 5 Ad Creatives are you can get a free instant audit here.
You'll need to have 10 active ads that have 50+ clicks each for the audit to work because this gives our software enough data to give your Ads a performance score between 1-100 and generate colour coded results so that it's easy to understand their performance.