Let’s get to the nitty gritty of what we are doing at Impulse Analytics. To start, I would like to go through the main steps you should focus on to grow your traffic and sales with Facebook Ad campaigns. In this article, I will focus exclusively on new user acquisition, saving remarketing for a later post.
A framework that I use and find helpful in breaking the social advertising process is TAACO. Based on your company size, business model and expertise you will want to set up the optimal workflow between each ingredient of your TAACO. The foundation of this flow is your internal infrastructure.
One of the most important lessons I learned while scaling revenue from Facebook Advertising for Udemy and Ecommerce website Field Tested Gear, is that at the beginning rather than A/B testing multiple ads, you are better off spending time building the right infrastructure.
Tactics can help in the short term, but ultimately only the right infrastructure and processes will generate profit consistently.
How can you test, learn and iterate faster? You need robust infrastructure if you are serious about getting new users through paid traffic, and if you want to scale your advertising investment.
Your success will be defined by the way you allocate your time between each part of TAACO. Thus, I want to go through the most important things to know as far as Targeting in this post, and in my upcoming posts, I will subsequently expand on Ads Creation, Analytics and Campaign Optimizations.
Facebook gives you the opportunity to laser target specific segments, and narrow them down to your most valuable audience. This is gold.
It can help you find high propensity buyers at a lower cost (with less competition bid for intent buyers than through Google AdWords). You will need fewer impressions and your advertising cost per checkout/sales will be significantly lower, especially if you are able to optimize your landing page for conversion.
If you have already advertised with Facebook I am sure you now know how it works, but if you are just starting a social media campaign there are 3 main ways to target your users on Facebook:
1. Affinity (Demographics, Facebook Pages, Interest, etc.):
Target some new users based on demographics (age, location, job title, income etc), interests, behavior, etc. A classic affinity targeting method can be to target a specific age group, a geography or an important Facebook page within your industry.
2. Custom Audience (web visitors, users, etc.):
Target some users from whom you have specific data (email, phone, mobile phone ID, Facebook Fans, etc.). Usually, these users have already been exposed to your brand or website.
3. Lookalike Audience:
Target new users based on their similarities to other users from whom you already have data, usually a custom audience (email, website visitors,etc.).
"Affinity" and "Lookalike" are usually used for new users acquisition, while "Custom Audience" is used for remarketing.
You can potentially mix different targeting approaches. However, to start I would recommend looking at your results for each target type without mixing, and then steadily narrowing down your approach.
To build your first affinity target it's a good idea to target your core consumers demographics or the Facebook Page of your main competitors.
Another interesting way to find high affinity interest target with your product is to leverage the Audience Insight feature in Ads Manager. You go to Audience manager and you input your product or your services in the field Interests on the left:
You can obtain a lot of interesting demographics data (Age, Gender, Job title, Revenue,etc ) about your core audience to use in your affinity target, but the real nugget here is under Page Likes.
Facebook tells you what Facebook Page has the highest affinity with your audience or product. In this exemple, it's a good idea to target Survivalkit.com Facebook Page or Alien Gear Holsters if you want to sell a flashlight.
Now, some of the best results that advertisers usually have are based on Lookalike Audience. Facebook is extremely successful in finding users with similar behaviors to your current buyers.
One of the most effective ways to increase your new users sales or leads generation on Facebook is to set up a website conversion ads (objective: website conversion) combined with a lookalike audience and a tracking pixel.
The way a Lookalike audience works is that after uploading a specific custom group from your internal data or pixel (emails,mobile ID,etc), Facebook builds an audience with similar characteristics using its own in-house algorithm.
You can build a lookalike audience from Audience in Ads Manager or in Power Editor:
This provides you with access to a new, unrelated, highly targeted audience likely to be interested in your product.
You need a minimum audience source of 100 users to build a Lookalike, but Facebook recommends uploading more. I would recommend uploading as many relevant users as possible, and ideally at least 1,000 users.
Another important point to make sure you make the best of your campaigns: Lookalikes are country specific, so if you want to build a lookalike to target UK, you should make sure your audience source is mainly composed of UK users.
In my next posts, I will further breakdown Ads creation, Analytics for Facebook and Campaign Optimization more in detail. Until then, feel free to shoot me an email (email@example.com), or comment below with any questions or feedback you have about your social media campaigns. What's the impact of Lookalike Audience on your traffic and sales?