What elements make up a successful Facebook marketing campaign?”
In other words, is there a secret formula?
The short answer is ‘no’. There is no secret formula or hack for making it big on Facebook.
Tai Lopez is using exactly the same tools as a startup company would to draw attention, educate and convert the users into signing up for his marketing course. Well, he has one clear advantage – a garage full of shiny sports cars!
Based on our experience with the platform here are the key pillars of success in 2018:
1. Check Your Product-Market Fit
Facebook has seen an influx of advertisers joining its platform, but not all products can succeed. The very first element we look at when reviewing a potential partnership with an advertiser is if there is a product-market fit between what the company does and how likely it is that FB users respond positively to the advertiser’s messages. Are you hoping to change human behavior with a product or service?
Is it going to take a significant amount of time and resources to advocate for the adoption of a new behavior? Are current conversion rates high or small from other channels? If you are planning on asking users to start walking on their arms because there are healthy benefits to such practice, it may be hard to drive that change with FB advertising as optimizing for a significant conversion event will take a very long time and may be costly.
But if you are offering a simpler, easier way to use existing transportation with an intelligent app, then you’ll have a higher chance of finding your target audience on Facebook.
2. Build Top-Notch Mobile-First User Experience
It’s not surprising by now that mobile is an integral part of practically any consumer journey. The volume of mobile inventory and marketing dollars spent on smartphones is now challenging desktop, and Facebook is leading the way with its mobile ads revenue almost 10x desktop. Scaling your FB campaigns will depend on the mobile user experience which you will provide.
If you are not investing in creating a fast and mobile-optimized user experience, your ability to scale on FB will be limited. One important category to pay attention to is the drop-off between your outgoing FB traffic and the number of users landing on your mobile site. That drop-off rate can add up to 40% to your cost of acquisition. It pays to sweat your mobile UI/UX before you turn to Facebook.
3. Embrace the Channel’s Full-screen, Video-first Direction
The days of Facebook campaigns relying solely on static images are long gone. The platform has evolved to support an immersive, full-screen motion and sound experiences. Our top performing clients are now utilizing a wider portfolio of assets built for feed and Instagram stories. As a general rule, we’d advise on an even distribution of short-form, long-form, simple and complex animations or videos to launch your first campaign with.
4. Setup Your Account with Top-to-Bottom Funneled Approach
Many failures with Facebook advertising are rooted in the lack of understanding how optimization and auction dynamics work. It takes an average of 16 touch points to convert a new user into a buyer in digital and to achieve this performance, advertisers follow a so-called “Funneled Approach” by optimizing to various stages in the conversion journey instead of optimizing all traffic to the bottom funnel action (such as “Purchase”).
We’ve seen tremendous success with merging the funneled approach with FB optimization algorithm which is powerful at learning about the ideal user as more data points are being fed to the system. Our top performing campaigns reflect this setup- with Top Funnel optimization goals being easier and softer than Bottom Funnel goals which may focus on form completions or sales.
5. Utilize a Testing Framework
One of the biggest differences between traditional advertising (print, radio, and TV) and FB advertising is that marketers are now able to test and learn a number of campaign variables before putting more media budget behind the winning spot. In fact, utilizing the testing framework is a sustainable tactic that has provided our client’s significant performance lifts in the past.
We only operate on Facebook with a science lab mentality where a hypothesis is first tested (using Facebook Split Tests) before the winning combination is graduated to the “Always On” campaign phase. By applying this testing framework for components like creative, audiences and placements we are able to constantly increase optimization efficiencies for our clients. Remember: change is the only constant!
6. Rule with the Data
Digital marketers of today are extremely fortunate to have so much valuable data coming at them. Facebook advertising helps make this data flow more actionable and results-oriented thanks to the power of Facebook pixel and the advanced analytic tools available in the Ads Manager. What conversion funnel yields the lowest cost per acquisition?
How well is my Instagram Feed doing in comparison to Mobile Feed? Does my 30-second video perform better than a 15-second version? Which lookalike audience produces the best volume of sales? All these questions can be answered in minutes simply by looking at the data in your account Ads Manager. Facebook is fully embracing the data science lab mantra by giving you access to highly effective analytics tools that shed light on an audience, creative, placement, and bidding performance.
Don Draper looks like an overpaid enthusiast when compared to the intelligence of Facebook analytics in enabling data-based marketing decisions for modern marketers. If numbers and performance KPIs fuel your marketing, you will be impressed at how valuable FB data could be for your organization.
Notable areas to look at daily: Audience Insights, FB Analytics, and Reports customization tab (create a report focusing on all the conversion step events and their costs. We call such report a “Funnel Performance Report” and compare the data week-over-week).
Is your organization in need of a dedicated Facebook acquisition team? Don’t hesitate to get in touch with us!