Beating Facebook’s Campaign
In class, we have learned a lot about how Facebook runs its advertisement campaign. With this campaign, Facebook is becoming even richer while many marketers are losing money – due to the same, repeated, rookie mistakes. There are ways to manipulate Facebook’s system in your favor, but to do this, it is imperative that you have a quality add. Before you release your add to Facebook, there are four main groups of variables that you should test your ads against:
- What does the text of your advertisement say? It should be concise, to the point, and generally, including a “like” button at the bottom works well.
- The image grabs the user’s attention immediately, so it needs to be something that stands out. It also helps to think about what kind of market you are appealing to. For example, pink images work better on a female market.
- You should also test which interests groups your add will respond to – more passionate groups are more likely to click on something.
- Once you find a passionate group, you have to look at demographics, like gender and age.
After you test your ad to optimize these four categories, you should be able to reduce the effective cost per click and cost per action. But if you do not have a good ad, the worst thing to do is keep throwing away money on it.
To prevent losing money, you should develop a Click Through Rate threshold, which is a self imposed monetary limit for your ads that will enable you to remove any ads that are not performing to your standards For example: 25 cents per new fan. A rough way to estimate this “cost per fan” is to simply divide the cost of your total ad campaign by the number of “actions,” namely the number of clicks on a “like” button. Using this “cost per fan” method is effective on advertisement websites like Facebook because it highlights the number of fans, and more fans means it is more likely for your ad to reappear on people’s newsfeeds, furthering your growth even faster. Also, while the cost per click (CPC) option makes your ad campaign run on its own, the cost per thousand impressions (CPM) option can show which ad generates the lowest CPC. So, it is a good idea to release an ad or two using CPM, then switch to CPC for the more successful ones. You may also want to consider testing your ad’s performance at different times of the day (though this requires a lot of monitoring), and creating a “creative reveal tab.” This is a tab with exciting new information that cannot be fully viewed until a user has clicked the like button.
All these tips are how to make a successful ad, and how to keep it successful after it gets online. But first, it must be accepted and approved by Facebook. In Facebook’s current auction system, they pay more attention to higher bids. So, for new users, you should bid high to get your ads approved faster, and then change it to a lower value afterwards. However, say you are bidding with $2.00 CPM, get your ad approved, and then lower it down to 5 cents. Facebook will quickly catch on. So, it is not a trick that should be used frequently.
Hopefully, by using these tricks, you can beat Facebook’s advertisement system and have a successful ad campaign. Big websites like Facebook are constantly making changes to their auction systems, so staying on top of what they are doing will help ensure your company’s success.
Website Source:
http://allfacebook.com/facebook-advertising-tips_b17798