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How I Used Facebook Lead Ads to Create a Quiz

Facebook Lead Ad Quiz

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One of my favorite things to do is solve problems by using a tool in ways it wasn’t meant to be used. In this post, I will outline how I did that by using Facebook lead ads to create a quiz.

First, credit goes to Lucas Elliott of our team. A few weeks ago, I talked about using quizzes as a lead magnet. Lucas suggested creating a quiz with a Facebook lead ad. I balked, knowing that it wouldn’t be as dynamic as what I wanted to do.
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Optimize Facebook Dynamic Product Ads The Right Way

Dynamic Product Ads are magical.

We know the flow. A user visits a website or adds a product to cart. Then they don’t purchase. Finally, we show them an ad of that specific product and complete the sale.

Many of us have this setup and it keeps on working. It’s a win-win because the advertisements aid in completing purchases and ensure the user sees a high-quality, relevant ad.

But did you know that Dynamic Ads can also be used for prospecting? They can help find new customers based on online behavioral modeling. You can also use dynamic copy in prospecting ads.

Between Broadmatch Dynamic Ads, Dynamic Product Ads, and all the new features of dynamic ads, they are delivering real results. Dynamic ads can now be a full-funnel solution that can add sales and stability to your campaigns.

(I define dynamic ads as any ad using your product catalog. But in this post, I focus exclusively on the way most advertisers use them: dynamic product ads.)

Confession…

Look, I knew how dynamic ads worked. I’d used them with success many times. But I still found myself thinking Dynamic Ads were somewhat intimidating.

Specifically, creating a stellar product catalog, “debugging” them, and customizing the ads combined to be a bit confusing and murky. As a result, I primarily used apps to help set things up — especially for my clients with multiple products, using an app was almost essential to making the entire process run smoothly.

All that said, a few months ago when Jon and I decided that our May training would be on Dynamic Ads, I committed to spending some serious time getting my hands dirty. I interviewed marketers about how they’re using dynamic ads, and mastering the topic with confidence.

Turns out that my fears weren’t completely unfounded; a lot of folks I talked to felt the same way. As such, there’s an incredible amount of variance in how Facebook advertisers use Dynamic Ads. Some rely on complex spreadsheets-to-database automatic uploads via FTP. Many are only utilizing 28-day add to cart remarketing. And even more common were those who set things up a year ago and haven’t changed them since.

I quickly realized there’s a very wide range of opinions, concerns, and personal experiences on the subject. In speaking with dozens of agencies and consultants and running my own experiments, I’ve uncovered several pro tips for optimization that I think everyone can use to improve their Dynamic Product Ad results.

I chose to focus on remarketing here since the majority of advertisers use Dynamic Product Ads with that goal in mind.

Onwards to optimization!

Separate View and Add To Cart

One of the most common missteps I observed in my research was when advertisers would combine “View” and “Add to Cart” in the same ad set targeting.

Facebook Dynamic Ads

It’s a recurring pitfall as it’s the first radio button on the targeting list for Catalog Sales. However, the reality is with the custom combination targeting, you’re able to differentiate the pitch to these two groups.

For example, if a new site visitor goes to a product page and views a product, it makes sense that they’re simply checking it out. They may or may not come back.

Maybe they need more context on your overall brand story. Maybe they need more value propositions of why your product is so great. Or perhaps they’d like to see what other products you have that could interest them.

In other words, they’re interested but not convinced.

On the other hand, if that same person goes to the page and adds a product to their cart, that’s a much stronger signal of their intent to buy. In this instance, adding a discount code in the Dynamic Product Ad copy is a worthwhile approach to try. They’re much closer to making a purchase, so rewarding them is a smart play.

Combining “View” and “Add to Cart” will hinder your efficiency in learning, so I strongly recommend separating them out!

Not this…

Facebook Dynamic Ads

Do this…

Facebook Dynamic Ads

Check and Control Your Frequency

One of the downsides of Dynamic Product Ads is their frequencies can become too high too quickly. Due to the small audience size in most cases, I commonly observed 20+ frequencies over a 7-14 day period. Folks, let’s be honest: this is insane and super annoying.

As advertisers, we often get tricked into thinking this practice is acceptable because many of those ads are still returning a high return on ad spend. They are profitable, so we leave them on. But in many cases, the relevance scores are a 3/10 or even lower AND click-through-rates are low while the cost-per-clicks are high. This proves the audience isn’t really loving the ad.

A common response I hear when I give this warning is “Who cares? It’s working and making money.”

Sure, I see the logic. But it’s still a crutch and you’re boxing yourself into a corner. Your brand could be seen as annoying, intrusive, and not conducting any social listening.

What I propose is simple: Monitor and control your Dynamic Product Ad frequency.

Facebook Dynamic Ads

If you check your frequencies and realize they’re high, then it’s time to optimize. I try to aim for no more than seven impressions over a seven-day period (1X per day). When my ads get to this level or higher, I take immediate action on one and/or all of the following recommendations.

Check Your Bidding

Are you bidding for clicks? For purchases? In a one-day click or view window? All of these bid types have a different effect on how your ad shows. So I’d adjust your bid accordingly to match your true goal.

For example, bidding for purchases within a one-day click window micro-targets an incredibly small group of users in an already small pool.

Simply adjusting to a longer time window can have a dramatic effect on the frequency.

Another example: If I’m bidding for purchases but the ad isn’t spending that much, changing the Event Type optimization to Add to Cart can help widen that window a bit further.

Think about it: There are more Facebook users who add something to their cart than there are purchasers. Widening it by event can be helpful.

Facebook Dynamic Ads

Adjust The Time Window

Oftentimes if my frequencies are still too high, it’s likely due to the time window being too small and not having enough prospects.

Take this example: I’m advertising to people who’ve added something to their cart but haven’t purchased in the last seven days.

This audience is probably going to be a smaller group of people. For my first action, I can widen that time window a bit, perhaps from 7 days to 14 or 21 days. This is to see if I can capture previous add-to-cart folks.

The second action I can take here is increasing the spend on and further refining my prospecting traffic. If I see my prospecting isn’t delivering as many users who add something to cart, then it’s time for adjustments. One ratio I’ve used to track this metric is on Facebook Analytics.

Simply increasing the amount of people I’m sending into my funnel via prospecting can be a great solution to solve my frequency issues. Combining this with adjusting bid type can be even more lucrative.

Revamp Your Ad Copy

If you believe this entire post on Dynamic Product Ad optimization is total malarkey, then that’s fine! But, the one thing you must try is revamping your ad copy.

Changing up your Dynamic Product Ad copy has a dramatic and immediate effect on results. Try refreshing your ad copy every week. Try another pitch, insert some fun emojis, make it seasonally appropriate, include positive customer reviews.

All the while keeping in mind that if the user sees the same ad creative, they’ll still see new copy.

Upcoming Dynamic Ads Training

If you like these pro tips and want to learn more, join Jon and me for our upcoming Dynamic Ads Master Class.

In this course, you’ll learn everything you’ve ever wanted to know about dynamic ads. We’ll get into how to build them into an effective system.

Topics include setting up and optimizing your product catalog, targeting, bidding, creative best practices, setting up effective ads step-by-step, retention strategies, and much more. Join us!

Your Turn

Do you have any go-to strategies for optimizing Dynamic Product Ads?

Let me know in the comments below!

The post Optimize Facebook Dynamic Product Ads The Right Way appeared first on Jon Loomer Digital.


Source: Jon Loomer

Turning Facebook Analytics Into Action

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I’ll come right out and say it: Facebook has had a rough few weeks. From the Congressional hearings to the news surrounding Cambridge Analytica, it’s been a difficult time for Facebook advertisers.

It feels like we’re on defense. We’re trying to stay on top of all the latest news while also defending the company and our profession to family, friends, and clients because many of them simply do not understand how Facebook advertising works and what Facebook does with user data.

And you know what? Their frustration is warranted. We should all be able to describe and understand what any platform does with our data because the more we understand and the more familiar we are with it, we can more easily work together to improve it.

(Here’s a helpful article on the topic, just in case you need to pass it along to frustrated folks.)

Recent news aside, it’s important to keep in mind that Facebook has significantly scaled in users over the past few years, and as a result, its advertising tools have also become more sophisticated. And with more complex advertising tools, myths and misconceptions abound, especially surrounding data.
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I’m proud of the work I’ve done to help demystify Facebook ad tools and empower thousands of business owners and entrepreneurs with detailed information and recommendations. And one of the best tools that helps all of us understand data at a deeper level is Facebook Analytics.

Jon and I taught a Facebook Analytics course last December and we received this question, which helped prompt our thinking for a future Analytics course: 

How do I take these insights and turn them into actionable steps in my campaigns?

With that in mind, this post is meant to jumpstart your campaigns and move the needle right away by covering Funnels and Lifetime Value within Facebook Analytics. We’ll take a closer look at commonly asked questions related to these reports and some potential solutions.

[If you’re wondering how to set up Facebook Analytics or generally learn more about the topic, you can read my overview post, Jon’s post on setting up events properly, or a deeper dive on reactions via Analytics. If you’re not very familiar with Facebook Analytics, I’d recommend reading those posts first!]

Funnels

Funnels within Facebook Analytics allow you to build visualized paths within your sales cycle to see how different parts of your funnel relate to one another. One of my personal favorites is using the funnel of Page View > Add to Cart > Purchase within a 90-day window.

Facebook Analytics Funnels

This funnel helps me understand how all traffic that’s come through our site within the last 90 days has behaved. I can see the overall conversion rate of the funnel, the average time to complete this funnel, and much more.

Facebook Analytics Funnels

Questions Related to Funnels

See below for a few examples of questions and answers that come to mind when reviewing this data.

Question 1:

Can I improve the percentages of people who view a page and then add something to their cart?

Here are a few potential solutions (this is not an exhaustive list!):

1. Launch an improved offer on the ad via the conversion objective, within the ad to Previous Page Views who didn’t add to cart. Perhaps instead of trying 10% off on remarketing to this group, change the ad copy to “add to cart and save 20% now,” offering an incentive to users to add to their cart.

2. Launch a Page Post Engagement Objective ad towards Previous Page Views who didn’t add to cart, thus reaching a wider selection of that audience. You could use that ad to explain more about what you do, what makes your product or service different, or launch a video describing it.

3. Launch a Messenger ad towards those who’ve added something to their cart but not purchased. The ad copy could be “what questions do you have?” and that ad drives them into a Messenger conversation. Sometimes users put something in their carts as they’re considering that product, so why not ask if you can be helpful?

4. Launch multiple ad types at the add to cart audience, such as a carousel ad, a photo post ad, a slideshow, and a Canvas ad. Gauge success over a testing period to see if you can improve the baseline percentage of those who ultimately become purchasers.

Question 2:

Some of my existing site traffic isn’t going to buy immediately, so what else can I do with that audience?

Potential Solutions:

1. Launch a Lead Gen ad at Previous Page Views, asking for that user’s email address. That way you can add them to your email list and use email to help them better understand your product or service.

2. Launch a video advertisement that gives more of your company backstory to those users. Help them understand who you are in a more complete, compelling way.

3. Launch an article for Page Post Engagement to that audience to help them see external validation of your product.

4. Showcase your products using an engaging Canvas ad, which combines video and photos to more completely describe who you are.

These are just a few examples of successful tactics I’ve launched using Funnels. There are many more.

Lifetime Value

One of the most valuable target groupings that surprisingly doesn’t get much attention is previous purchasers. As advertisers, we focus a lot of attention on brand new acquisition and sometimes we forget about the people who already know us. This group of customers shouldn’t be forgotten.

Compounding this problem, many advertisers do not properly calculate Lifetime Value. They focus on Cost Per Acquisition (CPA) instead of Lifetime Value, which can help provide more of a buffer when acquiring new customers versus only looking at your average order value and calculating at what cost you must obtain a new customer.

As competition rises and prices continue to increase, we must consider what a true value of a customer is over his or her lifetime. For example, let’s take a recent conversation I had with a client and break it down.

  • Their average order value is ~$40.
  • Their CPA goal is $20. If an ad set CPA goes above $20, they turn it off immediately.
  • Their lifetime value (LTV) is $80.
  • Their ads are having a hard time getting conversions at $20.

It’s a challenging conundrum because as competition rises on Facebook and Instagram, advertisers have to consider measuring their LTV, not just CPA. You can find this information via Lifetime Value within Facebook Analytics.

My first advice to them was “consider raising your CPA goal to $30.” By increasing it, you allow your ad sets to get a higher CPA before turning them off and you’re considering the lifetime value.

Consider these LTV graphs from Facebook Analytics.

Facebook Analytics Lifetime Value

Facebook Analytics Lifetime Value

Here are a few overall observations:

  • Over a 12-week period, the LTV has increased from $40 (likely their first purchase) to $84.
  • The week of March 7-13, you can see those users are already at $71 for their LTV in week 4.

Question Related to Lifetime Value

Here’s a sample question on the Lifetime Value topic:

What can I do to increase Lifetime Value of these customers? How can I improve from $84 to $100+ over a 12-week period?

Potential Solutions:

1. Launch a series of ads for twelve weeks, introducing them to new products in your store.

2. Launch a Dynamic Product Ad utilizing a new product set they’ve not yet been exposed to before.

3. Do a Facebook Live showcasing new products and advertise it only to previous customers via the conversion objective.

4. Create a custom discount code only for previous purchasers to use, asking them to come back and try another product.

5. Launch a series of different objectives, such as Page Post Engagement and Reach at the previous customer audience to see if you’re able to touch a wider segment of that core audience.

Raising the LTV has a lot to do with storytelling, so the more you can turn customers into advocates the better.

Learn More

If you want to learn even more or if you have questions about how to dive deeper into these topics, join us on April 24 and 26 for our upcoming master class on Facebook Analytics.

The post Turning Facebook Analytics Into Action appeared first on Jon Loomer Digital.


Source: Jon Loomer

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