As a founding member of FB Ads Targeting team, I’ve done dozens of client interviews in the past several years. Interviewed business size ranges from a self-employed store owner to agencies that ran campaigns with millions of daily budget. But no matter which stage they are at, scale marketing campaigns to a broader audience with similar performance is always a challenge.
Fortunately, with the progress of the Facebook Ads system, we’ve already built a suite of solutions that fundamentally resolve the scaling issue. However, this powerful tool may not be heard by all digital marketers. Here, I will guide you to discover “The Power of 5”: 5-step strategies that boost your campaign’s performance.
Leverage Facebook’s Machine Learning system, rather than manual tweaking.
You see, the core idea of these strategies is not to teach you 100 ways to handle 100 problems on the journey of scaling the ads. Instead, it’s all about tapping into the state-of-art Ads system empowered by deep learning technologies. Let the system figure it out for you with minimum maintenance & maximum delivery.
The very 1st thing to apply the “Power of 5” is to simplify the account setup. Specifically the following steps.
#1 Minimize Duplicate Campaigns & Overlapping Audiences
Advertisers tend to set up “similar” campaigns with overlapping audiences. This is a costly habit. It not only confuses the Ads delivery system but also leading to self-competition, like “biding against yourself ”.
To help the system do its job, we recommend to set up mutually exclusive campaigns with targeting spec as broader as possible, as long as it within the hard constraints(Language, Location, Gender). It will assist the delivery system to find the balance and hit the global optimal.
#2 Switch to Campaign Level(L3) Budget
Allocating and re-balance budget across ad sets(L2) is one of the biggest items for campaign managers. On the surface, it seems we are optimizing. However, it may kill the campaign just ramped up the “learning curve” or keep feeding ad set that passed its prime.
By switching to “Campaign Level Budget Optimization” will unleash the system to find the best portfolio to spend across ad sets. Improve ROI by automatically allocating budget to top-performing ad sets in realtime.
#3 Turn on Automatic Placements
Similar to L3 budget optimization, this unlocks the “automation” on the ad(L1) level. Facebook’s app families cover much more placements nowadays. advertisers may get surprised by how many more conversion/lead from placements they haven’t thought of.
Besides cutting down the unnecessary restrictions mentioned above, to improve the accuracy of matching ads with the prospects, there’s 2 powerful tools that will give advertisers can’t miss.
#4 Install Facebook Pixel
The Facebook pixel is code that you place on your website. It collects data that helps you track conversions from Facebook ads, build targeted audiences for future ads, and remarket to people who have already taken some kind of action on your website.
This advanced technology assists advertisers to find the “exact” audience that engaged with their business and track campaigns performance. By leveraging it correctly, it will be the core pillar of your marketing funnel. Typically, advertisers are advised to install pixels at least on landing page and check page.
#5 Enable Dynamic Ads
Imagine you are marketing for a catalog of products online, find the best matching clients for each product would be a headache. Fortunately, “Dynamic Ads” is your painkiller.
Dynamic Ads is a fairly new way to show the right product ads to people who have already exposed buying signals, like bumping “strawberry ice cream” ad to strawberry flavor customers and showing “chocolate ice cream” ad to chocolate biased customers, within a single campaign.
I wish you found these 5 strategies useful and increase your ROI by implementing it. For more technical guidance or success stories, please check out “The Power of Five” official site.