Over the past 5+ years, Facebook advertising has been a standard for almost every major brand.(followers on facebook) It’s clear that Facebook advertising is valuable and can help your company reach new customers. A common problem I hear about is getting more scale in the Facebook Ads environment. Companies are seeing positive returns and want to get the most out of Facebook Ads while they still have the opportunity.
Keeping this in mind, here’s how you can scale your Facebook Ads accounts.
6 clever ways to scale Facebook ads
Two main levers are needed to scale Facebook ads: budget and audience. One note about audiences: I have found that everyone approaches finding their target audience differently through years of Facebook advertising. It’s impossible to tell you your strategy, so I will only outline some of the best. Let’s begin with the budget.
1. Budget increase
This may seem obvious, but if you want to get more from your Facebook Ads account, the best first step is to give it more budget.
Although this advice may seem simple, scaling the budget on Facebook is not as easy as with other platforms such as Google Ads or Microsoft Ads.
You can change the budget settings in Facebook to alter one of the data points used by Facebook to determine who sees your ads and when. For each budget change, you risk resetting Facebook’s Learning Phase (or Facebook’s name).
This method can scale your business, regardless of whether you use lifetime or daily budgets.
Budget changes must be no more than 20% of the original budget. You should adjust your budget in several phases. Each phase must not exceed 20%.
You can see the video to see this strategy in action. However, for this post, you should know that increasing your budget is an easy way to scale Facebook. But it would help if you did it in increments below 20%.
2. Be sure to target not-as–spot-on interests
Expanding your reach to new audiences might be worthwhile if you’ve already scaled your budgets into your existing audiences. These are some examples.
Facebook’s targeting is not perfect. This means you may be unable to find the products you want to sell but might find something similar. Likely, you have already targeted the right products in your previous campaigns.
This approach is about finding the “not as-spot-on” interests related to the products/services that you are selling. They might be a replacement or complementary product or in the same industry as yours. Use Facebook’s targeting options to make fuzzy associations and target closely related targets to increase your scale.
3. Look for competitors
Everyone loves to get a piece of the business of their competitors. We’re all competing. You can also use strategies to target your competitors on Facebook.
You can first check if your competitor’s brand name shows up as an option for targeting. These are only available to large brands. However, you don’t need to be a big brand to use them.
If you offer a product or service at a local level, and there are national brands that offer the same services, you can use their interest in helping to attract new customers to your service.
Here’s an example. As a client, I have a luxury furniture business that sells very high-end custom pieces. Facebook removed the income targeting options long ago. We expanded the list to include high-end brands such as Pottery Barn, Restoration Hardware, Pottery Barn, and other brands with comparable prices and larger footprints.
You can also learn from your competitors’ creative strategies by looking at their Facebook ads in the Facebook Ads Library.
4. Reach affinity brand audiences
Affinity brands can be used to expand your reach beyond your existing customer base in the same way as competitor brands. Consider other brands that complement yours or that your customers would purchase from. I have found that using them to find new customers has worked for me.
We can use the same furniture company to illustrate that there are many brands people will buy from, even though they are not in the furniture or home décor space. To find new customers, we used the targeting options to target them based on their affinity for different brands.
These examples are not perfect, as many of you can see. Facebook doesn’t guarantee that you will buy an $8,000 couch just because you are interested in Versace and Burberry. This is a great way to learn about machine learning and possibly get scale.
5. Expand the range of lookalike models
I love targeting Facebook with lookalike models. As long as there was a strong pattern in the seed audience, they have always worked well for me. If you’re unfamiliar with Lookalike audiences, they’re essentially an algorithmically-generated audience of new users to target on Facebook modeled off of a list of users you provide.
Two problems plague advertising:
They use only one model.
It is easiest to start with Lookalike audiences by building a new list using your existing customer base. This is the most popular model because we all want more customers. It is a good place to start by creating a Lookalike from our existing customers.
If you are seeing a high performance, you may be able to expand into other models with high-value users to reach new groups. Facebook’s lookalike models are a function population. They have the same number of users. You can increase the reach of your Facebook ads by creating multiple seed audiences.
Here are some ideas for other Facebook Lookalike audiences.
- Users who added products to their cart
- Subscribe to the newsletter
- Lead generation form submitters
- Only high-value customers
You can create a Lookalike audience as long as your list of users has a clear pattern.
They use only the 1% expansion.
As I said above, lookalike audiences can be defined as functions of the local population. The most precise model of users is 1%. This means they are most closely correlated to your seed list’s persona.
If you see good performance, why not increase the model to 2% or 3%?
You can add incremental percentages to your list and see what happens. Each account will have its breaking point, according to my experience.
6. Broad targeting is possible
You’ve tested all target audiences and budgets on Facebook and still want more scale. However, this last option could prove to be very valuable.
Broad targeting allows you to create a conversion-focused campaign that identifies the conversion action you are looking for more of. Facebook handles the rest.
Other than a few exclusions to ensure you don’t target existing customers or retarget audience members, there are no other targeting options. Facebook will do the rest.
Accounts with large volumes of the desired conversion action are best suited for this strategy. This strategy is not for those just getting out of the learning phase.
Broad targeting is best when there are at least 100 conversion actions per week. This could be worth a try, even if it doesn’t. However, I recommend starting small with a budget and increasing only when you succeed.
These are some ways to scale Facebook ads.
While I focused on two key levers to scaling Facebook campaigns (budget and audience), many other strategies can help you do it. These strategies will also work best with the Facebook algorithm. If you have tried all these strategies and still want to scale up, it may be time to look at other platforms like Snapchat, TikTok, and others for new ways to reach users.
For Guestpost : https://blog.mymemories.com
