When you read the word “2.38 billion people” you do want to know what on earth exists which is keeping these many people engaged?
The answer is FACEBOOK. This era belongs to Social Media than anything that has ever existed!
Facebook is one of them. Facebook has a huge collection of user data which may help to target them accordingly to generate leads and optimize the ads further for higher conversion rates.
Initially, Facebook ads may not perform well. It doesn’t mean that Facebook will not perform well. There are ways to optimize Facebook ads for higher conversion rates. Find them below:
CTR(Click Through Rate)
CTR is a way to improve the conversion rate. It indicates how many percentages of people are clicking on the ad.
High CTR means many people are clicking on the ad. If CTR is low it means either ad copy or ad creative or both are not so impressive. They failed to attract or convince people to click on the ad.
To improve the ad copy and ad creatives to convince the people to click on the ad. This will raise the CTR which helps in a high conversion rate.
Optimize for a conversion
When you choose a conversion campaign, you will see a “Conversion” tab. Here you have to select the conversion event for an ad. There are by default some conversion events present in the conversion event tab. You can select the event according to the business model.
By choosing the conversion campaign doesn’t mean that your ad will automatically optimize. You have to tell Facebook also what type of conversion you want. It may be Add to cart, Checkout Initiate, Purchase.
Different events work differently.
Let’s understand clearly with an example.
If you select the “Add to Cart” in the conversion event tab, then Facebook will research the people who are likely to add to carts.
If you select the “purchase” then Facebook also finds the people who are more likely to make a purchase.
Note: Tracking the conversion data is only possible by installing the Facebook pixel on the website.
Optimization for Ad Delivery
In the “Optimization for Ad Delivery” window, you have to choose the conversion goal for your ad. It depends upon what you want to achieve for your business model.
If you select the “Conversions” in the Ad Delivery tab, then Facebook will find that users who are more likely to do the conversion in the form of Purchase(Selected “Purchase” in the “Conversion Event” tab).
If you select the “Link Clicks” for the ad, Facebook will show your ad to users who are most likely to do clicks on the ad. This may not produce many sales.
So these may be the reason for decreasing the conversion rate. So you have to select the right optimization delivery to produce more conversions.
Trust the power of the word; there are more chances to make a user convert into conversion while retargeting them.
Landing Page Visitor:
In the e-Commerce scenario, let the users view your ad and land to the landing page of the product but they don’t buy the product, then you may retarget them by making the custom audience of website visitors of that particular landing page.
Let the users view your ad do an Add to Cart(ATC) but they don’t buy the product, then you may retarget them by making the custom audience who did an ATC in the past few days.
Initiate Checkout Users
Let the users view your ad and initiate a Checkout but they don’t buy the product, then you may retarget them by making the custom audience who did initiate a checkout in the past few days.
Warm Customers(Who has Purchased the Items)
We can retarget mature customers to sell another product. This may result in high profits.
There will be more chances to purchase a second time because customers have already bought from your store and have trust in you.
Example – 1
For instance, let’s say you are selling Girl Gowns and there are 100 customers who have purchased this particular item.
We can re-target them to show new products to that product. Like you show them an ad of beautiful hairbands, gown brooch and etc related to gown accessories.
Example – 2
Think that you are providing a 10 Day free Facebook ad course and 100 people have done registrations for it. Now you have a record of these 100 customers.
Furthermore, you can retarget them to sell the paid Facebook Ad course. This is called the sales funnel.
So in retargeting the chances of sales increase because the users have already engaged with your store/page/ or in your product.
Facebook will generate better results when you are helping back to its algorithm by doing the right optimization outlines.
Also, as soon as the Facebook pixel gets mature enough, Facebook will automatically try to find the people/users who are more interested to engage with the ad to give conversion.
There more to Facebook posting pictures, check-ins, etc. Happy realization right?
Let us know which one best worked out for you, we’ll be happy to know!