5 tips for brands looking to maximize their ROI from Facebook ad spend

5 tips for brands looking to maximize their ROI from Facebook ad spend

“Just because your friends jump off a bridge, should you jump, too?”

Chances are you’ve heard this cliché question before, possibly in a conversation between you and your guardian(s) as he and/or she tries to teach you the value of independent thinking.

The fact of the matter is we value independent and original thought, but we don’t always adhere to these values—especially when it comes to Facebook marketing. Facebook offers so many options that brands tend to stick to the conventional techniques that show rewards, and understandably so—brands rarely have the know-how to create a company and advertise it perfectly.

Nonetheless, brands can still learn to maximize their Facebook spend without dedicating countless hours to the cause.

If you’re ready to take your Facebook advertising to the next level while keeping your stress at an acceptable level, implement the 5 tips below: 

1) Specificity should come first 

Facebook’s large audience is appealing, but the reality is that any given product will only apply to a small majority of its users. After all, there are about 2 billion users on the platform every month

So, how do you filter through a couple billion individuals to find your potential customers? According to Alex Fedotoff of AF Media, a marketing specialist with one of the highest ROI-producing Facebook formulas amongst advertisers, the key is to “think both critically and analytically while layering target options.”

For example, an up-and-coming e-commerce children’s apparel and accessory company wants to promote a special discount for millennials that recently had a child. This business could layer an Interest of “Baby Shower” with the age range 20- to 36-years-old.

With these layered targeting options, the company is positioned to connect with an audience that’s directly impacted by their offering.

2) Timing is everything

As a new startup, there’s a high likelihood that you’re advertising on a budget. As such, if your advertisement fails to reach your goal, you might panic and want to change it or take it down. Fortunately, even if you only have $10 or less to spend per day on your advertising, you don’t have to stress when your advertisement doesn’t achieve immediate success.

Instead, let it run—unaltered—for at least 24 hours. After this time is up, review the data the ad has generated to determine if you should make any changes. 

3) Work big to small

Piggybacking off the point above, many brands leave money on the table by turning off an entire ad set that’s not performing as expected.

If your advertisement is still not delivering after 24 hours, you’ll be tempted to turn its entire set off, but you should refrain from doing so. Instead, create multiple ads within each set at the start of your campaign. This way, you’ll be able to see what’s working and simply turn off the creatives that aren’t catching on.

4) Lead ads can yield landing-page results

After you create your company and start to offer your product and/or service, you’ll need leads to find customers. Although there are a few ways to secure leads, on of the most effective is through an email list.

In general, your company should have a sound landing page that’s designed to capture this data, but one lesser-known way to collect this information is through lead ads.

This tool allows users to submit their contact information on Facebook—reducing the likelihood of drop-off. 

5) It’s all about the conversation

One of the great things about social media is that it gives everyone a voice; however, marketers don’t always cater to this benefit.

If you want your startup’s Facebook advertising dollars to have maximum return, you’ll need to do more than craft copy that’s simply meant to be read. Instead, invite users to engage with your content, whether that’s through liking or commenting on your advertisement.

As always, you’ll also need to engage with the users’ comments to create a two-way conversation.

Making it work for you

As an entrepreneur, you likely wear more hats than you can keep track of. This may leave you more apt to give less than your all in areas you’re not an expert in—like optimizing your Facebook ad spend—but this shouldn’t be the case.

Regardless of your budget and expertise, with some elbow grease and the aforementioned tips, you can grow your business through Facebook advertising.

This post is part of our contributor series. The views expressed are the author's own and not necessarily shared by TNW.

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