The Facebook Ads platform has been around for a little over a decade, and it’s gone through many changes! What you thought you knew a month or two ago has changed, and new things are constantly being added, which can cause ad campaigns to fall short of their goals. There are specific ways to monitor and optimize your campaigns to ensure you stay on top of the ever-changing ecosystem. With the most recent IOS update and allowing your retargeting lists to dwindle, some audiences you used to use a year or so ago are now becoming more relevant to keep ad costs down or at least for stability. There are also many common mistakes that we forget to fix that run up costs for our ads.
I used to be a graphic designer, so thank God, I don’t have to run to a designer to get my creative changed every time my ad starts slacking. One common mistake advertisers make is allowing our creativity to get old. Do you ever see the same ad for the same thing over and over? It’s not fun to feel that your Facebook Feed has become stale. We want new content. Our brains are triggered by new things. Ad fatigue is REAL! Use tools to inspire new creative, such as Facebook Ads Inspiration, canvas, or even stock photos.
Another common mistake we make as advertisers is choosing the wrong objective. Let’s say we have a client with a minimal budget and want to drive sales to a concert, and we choose the objective Engagement. While Engagement has a lower CPC(Cost Per Click and CPM(Cost Per Thousand right now, that is not the objective to drive sales. Conversions are the right objective, and when running a conversions campaign, we need to think of the TOF (Top of Funnel), MOF (Middle of Funnel), and BOF (Bottom of Funnel) Audiences. You can start with a TOF (Cold Audience) and work your way to the MOF (Engagement Audience) and BOF audiences (Email Lists, Add To Cart excluding purchasers). On the topic of audiences, another common mistake is over-segmenting audiences. Like objective optimization, we need to ensure we have enough data for Facebook to go on and see success. The bigger the audience, the more people Facebook must pick through to meet your objective without seeing the same ad seven times.
Additionally, the smaller your audience on Facebook, the higher CPMs you’ll pay. That means it’s more expensive to reach the same audience. Nobody wants that! Don’t forget about lookalike audiences. An email list is one of the client’s warmest assets (BOF). A lookalike of that audience shows Facebook you know who your targeted audience is now, let Facebook’s algorithm do its thing, and find more people like that for you.
There are many more common mistakes that we as advertisers make or forget about from time to time. We’re not perfect, but here at KK BOLD, we try to stay on top of what we can to make all the campaigns run as well as possible.
Monique Kingsley, Social Media Director