5 Steps To Confirm Targeting Works With Facebook’s Evolving Algorithm
Nowadays Facebook is moving out of the confines of a typical social network and becoming much more integrated with other parts of our lives. Social media for business is evident as it is the widest and easiest platform to reach, engage with our customers & make more sales. From the past ten years, marketers are still trying to figure out if it makes sense to engage on social. Truth to be told the marketing landscape is very complex, and the marketing department should focus on what works and eliminate anything which doesn’t add value to the business. Targeting optimization of Facebook can become more sophisticated and capable of automation. While this is good news for making our facebook campaigns more streamlined and efficient with minimum effort on your part. The question is with the facebook’s constantly evolving algorithm how to make sure they are structured in a way that works. Getting traffic is very easy with ad copy but improving our conversion rates, however – not so easy!
The active Facebook users per month are 1.39 Billion
Improving CTR (click-through rate) requires improving ad copy that lasers is on our target audience. The goal here is to create an ad sets with targeting that is high quality without restricting Facebook’s optimization. Ad sets with longer life will have high-value users and help us to scale budgets without significantly increasing costs, as Facebook will be able to target a larger number of users likely to convert and for longer. The following five steps to ensure that our targeting decisions work with the Facebook evolving algorithm and will achieve the Good ROI.
#1 CHOOSE TESTING WISELY
Before starting the campaign we should have an idea about our target audience i.e; – their age, gender, location, what device they’re likely to use most, etc.Some of these will be set in stone. We should layer them overall another targeting to ensure that we are only reaching the relevant demographics. Gender which has high value to target can be tested. The key point is to focus on only being granular enough to test what we need to, and no more.
Example: When we want to test mobile vs desktop, we need to create the ad sets by the two but keep all other demographics the same. Splitting the device while targeting will allow us to apply specific budgets based on their relative performance and adjust as needed, then another demographic targeting for us will be refined by Facebook’s targeting algorithm. We should always keep this point in mind that we can still split our reporting by whatever parameters we like.
#2 IDENTIFY MOST VALUABLE AUDIENCE
For good reach and delivery, the audience should be broad but high enough quality audience will get us a strong and consistent conversion rate and ROI. We always try to reach the highest value customers or users within our target demographic – the people who are most likely to convert – without restricting delivery by going too niche. Think about what type of users have taken the most valuable actions before starting the campaign and how we can utilize our CRM data, interests and the Facebook’s pixel to reach them. Another key point here is, we should remember that don’t need to use every single bit of data available to you, because it won’t be useful!
Example: We can target a lookalike of everyone who has visited our site in the last year, but this is vague and unlikely to perform for a long time. Instead, we can try a lookalike of users who have spent the top 25% of the time on site, or who have visited our thank you page after converting. The custom audiences for these will be smaller, but the lookalikes will be higher value!
More than 30 million business now have a Facebook fan page
#3 DON’T GET TOO GRANULAR!
This probably goes against everything we discussed.We should always remember this point that Facebook wants to get us the highest-value conversions at the best price, but it does this by using the conversions we’ve already had as a template. FB needs approximately Fifty engagements in a week driven by our ads in order to optimize towards that action. If the audience we target is very small, the initial conversion volume will be low and it will struggle to know who to target in order to meet our aims and we’ll see reduced delivery and high costs.
Comparatively using precise audiences with separate budgets, it is now more efficient to allow Facebook a certain degree of freedom. Rather than giving them individual adsets, group audiences together and let Facebook make the more granular spend adjustments automatically. We should never get scary to work with a broader audience; its advanced machine learning means it is getting better at identifying who should see our brand’s ads and who will take the desired actions.
A perk of doing this is that we avoid audience overlap; the audiences work together rather than against each other, helping us to spend and reach people efficiently without wasting budget.
19 million businesses have optimized their page for mobile services
#4 KEEP AN EYE ON AUDIENCE SIZE
Layering different audience types, that is lookalikes with same interests, will make our audience groups more relevant but more niche, as people need to be within both to be included.This is only good to some extent – making our target too narrow and we’ll encounter those spend and delivery issues mentioned earlier. By grouping the same audience types – this will increase audience size rather than decrease it.
If the audiences are relevant and high-quality, we need not to worry about value becoming too watered down. Facebook’s algorithm will intelligently target the users who are most likely to take the action we want, defined by our campaign objective – by making the audience larger, we can ensure that this process is not restricted.
1.5 million businesses spend time on mobile advertising
#5 FIND THE BALANCE THAT WORKS
Generally broad audience groups will perform best, there will always be a certain audience who are less valuable. Try the different combinations to know the balance of delivery and value , we need to drive for great performance.
It’s easy to be overwhelmed by the targeting possibilities available on Facebook. Get to know of each type and discovering which is most valuable for our business, and following the tips above to use them effectively, will enable us to build adsets with long life which will deliver cheap but valuable conversions. When we get the ideal point, don’t be afraid to take a step back and let Facebook’s targeting algorithm do its job!
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