21 Mar Digital Marketing for Financial Advisors (Step 5: Optimising your campaigns)
6 ways to optimise your Facebook Ads
Now that you have learnt how to run Facebook Ads, the next question would be: How to optimise your Facebook Ads?
The worst thing that a digital marketer can do, is to allow the ads to run remotely and assume that leads would always flow in. That’s the biggest mistake ever because users would suffer from Facebook Ads Fatigue.
What is Facebook Ads Fatigue
You must be wondering what is Facebook Ads Fatigue. It basically means that as more people seen your ad, the more bored they get.
Just imagine, the first time you saw an elaborated iPhone advertisement on iPhone 11, you probably got very excited. How about the second and the third time? You already know what to expect. Similarly with Facebook Ads, the more times people see it, the more bored they got. Hence, “click through rate” decreases while “cost per click” increases as you will have to reach out to more people just to get that one click.
So, how do we overcome Facebook Ad Fatigue?
1. Rotate your visuals.
Have different visuals who tell the same brand story. Take a close look at Shopify. They use 4 different visuals, but they essentially send out the same message. Which is, ease of use of building a store on their website, and how it allow business owners to easily reach out to their customers.
In this way, users constantly see different images and will be less bored of seeing your ads. You’ll also be able to know which visual performs the best.
2. Optimise your interest group
Sometimes it may be the wrong target audience that you are reaching out to. So optimise your interest group. Selling car insurance and want to reach out to car owners? Setting interest like Toyota, Honda or other car brands may work. You can also consider targeting complementary products such as luxury watches as car owners may be interested in them too.
3. Optimise your advertisement placements
Did you select the “automatic placement? Uncheck that box. Yes, uncheck it, because you might be wasting your precious advertising dollars on wrong placements. Facebook is essentially charging you for each impression, but not all impression is useful!
Unless you have a lot of advertising budget, you wouldn’t want your advertisement to appear on the right column. Just think of when was the last time that you click on, or even looked at the right column? So always remember to select your placement positions wisely! For example, if you want to target millennials, you might be able to reach them more effectively via the Instagram placement, compared to Facebook.
4. Optimise your Facebook Campaign objective
Every business wants conversions, but dont expect to get it since day 1. Moreover, if you have no track record of conversions, it’s difficult for Facebook to optimise it for you. So you must know which phase is your business in. If you are only trying it for the first time, you can still consider Conversion, but dont expect leads or sales to flood in. Or if you want people to share and like your post, you can consider Engagement. Always hover over the objective and make sure the definition aligns to the objective you have in mind.
5. Conduct A/B testing
Similar to visuals rotation, you can also conduct A/B testing to know what works and what doesnt work. You can choose to test your visual, or copywriting, or even target audience. In that way, you’ll know which set work best and you can focus your budget just on that.
6. Change your Ad Format
Doing an image doesn’t help? Then use a carousel. If it still doesn’t, maybe its time for you to try video, slideshow or even the latest instant page experience which Facebook has just rolled out.
Already maxed out on your budget and too tired of trying? Avernor has been doing digital marketing for Financial Advisors since 2016. We have done campaigns for maternity, retirement, investment, recruitment, etc. We have successfully lowered our cost per lead over time, and are able to acquire leads ranging from $20 to $70. Contact us for a free consultation to see how we can help you acquire leads passively!