You know what the most popular advertising network out there is Google AdWords and you know that number two most popular ad network out there is Facebook Ads. But running Facebook ads isn't as simple and easy as you think.
We've spent a ton of money on Facebook and today we’re going to share with you our mistakes so that way hopefully you can be much more successful than we were.
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Today we are going to share with you three important lessons learned from spending over 400K thousand dollars on Facebook Ads.
The first lesson we learned on Facebook Ads is: don't spend money on buying subscribers.
In one project, we spent a lot of the money on building up a fan page and they have over 900K fans.
Algorithms keep changing, yes. They may restrict how much you go viral, your posts or your video content can end up going and a lot has to do with your content. If your content is not amazing, you're not going to get a lot of reach.
But if you're going to be spending money, make sure there's ROI in it.
We used to have this concept where it looks like you just keep getting the subscribers and then you can keep going back and back to them for the traffic. But that was a huge mistake. Don't make this mistake.
You should better off spending money per click to get people to your website. Drive them to a product or service page and generate revenue.
During this client’s peak period, we were getting a 3 to 1 that means for every dollar of spending on ads, we were generating three dollars in revenue. That's a huge ROI.
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The second lesson we learned on Facebook Ads is: the best performing ads are videos by far.
The second thing we learned, when you're doing ads, the best performing ads are videos by far. No one wants to create videos, and everyone wants to do banners because they're the easiest. But if you take the time to do videos your cost is a lot less and your conversions are a lot higher.
When you're optimizing for videos, make sure the there's a transcription and it automatically starts playing, because if the video adds the sound, it doesn't automatically show up for people. You want to have the transcription going there, so people can read and they're going to be much more likely to convert with your video. It needs to convey emotions, and these can be a good length you need to get really people hooked. Tell a story because if you don't and you just try to get people to click through to your site and have the cheapest amount of clicks it won't necessarily generate you the most amount of revenue.
Don't optimize just for spend reduction. Optimize for ROI. It's okay to be spending an extra dollar per click if you're making more money. Don't focus on how much you're paying per click, focus on how much revenue you're generating for how much you're spending.
That's the key with Facebook Ads.
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The third lesson we learned is: people don't tell you this!
The third tip we have for you, and this is what most people don't tell you, especially if you're running banners and Facebook's algorithm they look at “hey! This is a new ad, we're going to push it!” Give it priority and see how it does within the first few minutes or hour of it being up there. So, what we started doing is we were putting a bunch of ads and within an hour of them being up we would keep changing up the creative and the text or stopping them and running new ones. By doing that, we were getting much cheaper impressions and premium placements and we were generating a much higher ROI.
Most people won't do this because it’s like “oh this is too time consuming!”. But we tell you that one little thing during the peak, was reducing the spend over 30% percent.
That's over 30 percent!!
If you're spending hundreds and thousands of dollars, that's a huge savings. Now, eventually as we kept scaling it out, we couldn't keep doing that but we still deal with a lot of other campaigns and still to this date when we're selling products for our clients we're rotating up their creatives so often it's generating a much higher ROI they think.
If you need help with your digital marketing to grow your business in terms of visibility, engagement, and profit, contact us today and speak with one of our digital marketing experts to see how we can build the bridge between the point you’re standing at right now and your goals.
