2017 was an amazing year at Impulse! We have been partnering with 25+ clients, including large e-commerce like Sounds True, Émoi-émoi or Y-combinator startup like Instawork, profitably investing more than $2M on Facebook Advertising.
These are the four campaigns that we set up systematically to maximize profitability for our client. Please feel free to steal these. They have helped us increase our clients Return On Advertising Spend (ROAS) by 400%.
For those of you who are not familiar with what ROAS is and why to track it, a good way to think about it is that ROAS (ads revenue / ads cost) assess tactics effectiveness, while ROI (profits - costs x 100 / costs) measures strategy (a good recap here from our friends at Markeko).
1. Lookalike Premium Buyers
Lookalike is a very powerful way to find users similar to your current user-base. Actually, it works so well that for many of advertisers it’s the only profitable type of targeting.
There are different ways you can continuously improve the performance of your lookalike campaign. One way is to improve the quality of the users you input to build these audiences. We systematically segment users based on monetization or retention, and experiment with these audiences to identify the highest ROI.
PRO TIPS: It's important to keep a minimum of about 500 users as an audience source. Also, for B2B we usually combine lookalike with some interest targeting to ensure we stay in the specific industry we are targeting.
Ok, so if you don’t have any retargeting campaign in place, stop reading this, go to Facebook and set it up right now. That’s the biggest low-hanging fruit, and it’s much easier to set up than you think.
Retargeting allows you to keep track of all visitors to your website and potentially retarget them in the future. So, even if you are not going to start your campaign today, you may want to make sure that you are ready to do so with your pixel set up.
PRO TIPS: For more advanced marketers, we had some great results from setting up a certain flow for your remarketing with a specific messaging for first to third day visitors, third to fourth days, and fourth to seventh days. Segmenting by days allows you to maximize your impression on the first day after the first visit, and also provides a stronger incentive. Here is a way you can set up this sort of flow.
Sometimes, we use a tool like connectio.io to retarget visitors based on the time they spent on the page, and Facebook released last year this option in Ads Manager as well.
3. Cart Abandonment
This one is more specific to e-commerce and is a remarketing variation. It focuses focus on one specific type of user: people who drop off after clicking ‘add to cart’ (or another final actions in your funnel)
It is quite aggravating when you have done most of the heavy lifting, yet for one reason or another, your potential client changes their mind, forgets about it and doesn’t complete their purchase. Most of the time you just need to remind them that their cart is still waiting for them. A sweet way to do this can be to add a small coupon. We have a huge return with these campaigns with e-commerce.
PRO TIPS: For these guys, do not hesitate to push the frequency even above 20. They want your product but just got distracted, and the right column of their feed is a great place to remind them (and with cheap CPM).
4. Top of funnel/awareness campaign
In addition to our conversion/performance campaigns, we always recommend keeping about 25% of the budget on awareness/brand building. FB offers very competitive way to build up your awareness through video views or website click campaigns focusing on traffic and visibility.
These are the people you'll reach out to with more targeted messaging and with whom you'll reap the rewards of retargeting. Do not neglect this campaign, and with decent content it can be pretty cheap to bring tons of interested visitors to your website.
PRO TIPS: Experiment with Post Engagement campaign. If your content is valuable, you will get tons of likes/share that will deliver a lower overall CPC Link than your website click campaign.