Every business is a gamble. While that is a fact, entrepreneurs still aim to acquire the return of their investments. After all, that is the primary purpose of having businesses.
Facebook Ads is one of the most affordable online marketing tactics that one can utilize. It also provides the most extensive reach and the most effective ad results. Still, the ROI you can get on one would depend on many factors.
If you are a Facebook advertiser and want to speed up or improve the phase where you get a higher ROAS (return on ad spend), we have some tips that could help you.
How to Increase Your ROAS From Facebook Ads
Tip 1: Know Who You Are Talking To, Including Their Pain Points
Facebook ads are an excellent tool for any business. If you are planning to utilize it to its full potential, you should know very well who you are marketing to. Without this information, you won’t be able to develop the most effective advertisement.
Knowing your audience is crucial for any business. Your target audience is more likely to respond to ads that are more relevant to them.
Before you run any campaign, you should ask yourselves these questions:
- Who are your target customers?
- What specific problems do they encounter?
- What do they read, and what do they share daily?
- Do they have a favorite brand?
- Can you pinpoint their demographics and interests?
The better you can describe your target audience, the better you can create effective campaigns.
Tip 2: Find Your Lookalike Audiences
As with any Facebook Ads campaign, finding your lookalike audience is one of the most important things your business can do. After creating your ad, you can find people similar to your existing customers. Utilize this option by going to Facebook Ads Manager > Audiences > Create Audience > Custom Audience > Lookalike Audience.
This step will let you create an audience that is more likely to convert. You may think that this is a small change, but it really can make a massive difference in results.
Tip 3: Create a Marketing Funnel
The marketing funnel is one of the most valuable things in marketing. It teaches people to look for products and services in a specific order. It is more effective than the old “spray and pray” marketing.
Every business has a funnel, but the very first step is at the core of that funnel. That step is the start of the journey that the customer has to go through and the most important one. It will help them determine if they need your product or service.
In the case of Facebook Ads, the first step is to grab their attention. How? You can let them know what your business is about through an effective ad. If they like your ad, they may click on your link and read the information on your Facebook page. After doing this, they may even check out your website. In the end, they may become a customer or not.
Tip 4: Make Sure Your Ads Are Engaging
Engaging ads will ensure that you get a higher ROAS. To have an attractive ad, you have to make sure it is fascinating. You can do many things to improve your engagement rate, but one of the most effective ones is testing combinations of text and images to find what works best for your audience.
You can do this by using the A/B testing feature of Facebook Ads. It allows you to test two different variations of your ad without spending money on both. You can do it by going to Ads Manager > Campaigns and Groups > (your campaign’s name) > Create variation.
Now that you have had some insight on the benefits of Facebook Advertising and how to increase your ROAS, you can go ahead and create a full-fledged campaign. There are many things that you can do to improve your ROAS. If you do not feel confident about your skills, you can always outsource a professional service. Many businesses out there can build and manage your campaign for you.
GHAX is a digital growth marketing and conversion optimization agency in New York that helps small-to-medium-sized businesses establish their online footprint and explode growth through digital marketing strategies, including SEO, paid advertising, and content marketing. Contact us today to learn how we can help.