How to Maximize Your Facebook Ads Spend
If there were a magic pill you could take to instantly optimize social media ad campaigns, you’d be rich, right? Until that pill is invented, you’ll have to take a different approach to get the most out of your Facebook ad campaign.
By paying attention to metrics and audience insights, you can better connect with potential customers and hit campaign goals.
Optimizing Facebook Ads to Maximize Results
While ad content, images, and audience are a key part of a successful Facebook ad campaign, they’re not the entire story. Your budget is one of the biggest elements that will affect your campaigns.
Spend too little, and your ads don’t even show up for your target audience. Spend too much and you aren’t seeing the return on investment that you want.
Still, maximizing your budget can significantly improve ad results. We’ll look at a few strategies to help you optimize your Facebook ads, but throughout all, monitor your return on ad spend, because it is an indicator of how much you’re bringing in from your investment in Facebook ads.
Identify the Ads Worth Scaling
Now, I’m not suggesting that you simply double your ad spend across the board without a little research. Some ads are worth scaling more than others.
Give it time to decide whether an ad is worth boosting its budget. Typically it takes three or four days to really give you an indication of whether or not an ad is delivering the results you want. Keep the ad as is during this period; making any changes will reset the Facebook algorithm, and then you have to start over in monitoring results.
For ads that make the cut, increase your budget every three to five days, no more than 10-20%.
Explore Horizontal Scaling Strategies
Once you’ve identified your winning ad sets, you can scale in one of two ways (or both). You vertically scale when you increase your budget, and you horizontally scale when you diversify your ad creative approach.
Scaling horizontally might mean testing different ad types, like video ads, a Carousel, or Instant Experience. Or changing your call to action (CTA). You’ll need to run a/b tests to determine which out of two ad versions is best at reaching your audience.
Get to Know Your Audience Intimately
Key to the success of any Facebook campaign is ensuring that you’re reaching the right demographics. You can better target people by installing Facebook Pixel on your website, as this provides insights into the visitors that come to your site (as long as they’re logged into Facebook, which many people are). This, in turn, gives you data you can use to better shape future campaigns.
Once you know which demographic groups are visiting your site (or taking action, like making a purchase or signing up for your newsletter), you can increase spending to reach these custom audiences through Facebook. You can then create ads for lookalike audiences, retargeting Facebook users who have already visited your site.
Focus on Your Most Important Campaign Objective
An ad campaign is useless without an objective or goal, but make sure you’re measuring the best goal for the campaign.
Do you only care about conversions? How do you measure those? Is it the number of website visitors that come from Facebook? The number of app installs you get? The number of signups on a landing page?
Or are you more concerned about creating brand awareness and lead generation? How do you measure that?
There are several ways to measure ad results, including:
Cost per click (CPC)
Click-through rate (CTR)
Cost per action (CPA)
You may care about one of these more than the others, so choose the one that best aligns with your goals.
Pay Attention to Your Campaign Budget Optimization
Carefully monitoring your campaign budget is part and parcel of a successful campaign. Facebook allows you to set a campaign budget that covers all your ads, and you can set it to cover your daily campaign budget or lifetime.
It may take a few tweaks to maximize your campaign budget optimization so that you spend more on the ad sets that are delivering results and less on those that aren’t.
Maximizing Your Facebook Ads Spend
Now we’re back to budget. You have more targeting options if you’re able to increase your ad budget. You can spend countless hours trying to find the audiences and keywords that save you money, but at the end of the day, if they’re not delivering optimal ad performance, are you really benefiting from spending less if you’re not making more?
The Best Way to Maximize Facebook Ads Spend
Mastering Facebook advertising for ecommerce is an art unto itself. Adding in issues with the credit card you use to cover your ad spend only complicates the situation.
Many advertisers complain that their credit card companies freeze their accounts when they’ve hit their budget or spent an unusually high amount, and that in turn causes Facebook to pause all campaigns.
They then have to call the credit card company to increase the limit or pay down the balance (sometimes daily). This impedes their ability to run Facebook campaigns smoothly.
That’s the problem dash.fi aims to solve: by providing high limits with customized billing periods, dash.fi users don’t butt up against those limitations they do with traditional credit cards.
Earn Cash Back on Facebook Ads Spend
If you’re scaling your budget for ad placement to reach Facebook users and not getting cash back from your credit card, you’re missing out on an opportunity. dash.fi provides up to 3% cash back on ad spend your first 60 days, and then 1-1.5% after that. Given the size of your ad budget, that’s a pretty significant amount you’ll get back! You can put that money back into your ads for an even better return on investment.
Keep Facebook Ads Running with Automatic Payments
Rather than having to constantly switch out the credit card your digital marketing and ad team uses for Facebook ads, you have a virtual card number you can use for automatic payments. That means zero disruption to your ad campaigns. Zero freezes on your account. Zero resets on Facebook’s algorithm.
High Credit Limit to Maximize Facebook Ad Spend
You aren’t buying paper towels for the office with your business credit card here. You’re spending tens or hundreds of thousands of dollars each month (maybe more!) on Facebook ads, and you need a payment source that doesn’t cripple you from reaching your goal.
With dash.fi, you’ll get a credit limit that’s 10-20 times higher than traditional credit cards. Ours is designed for advertisers like you, so we won’t hold you to traditional billing periods because they don’t fit your needs.
Maximizing your Facebook spend requires not only a savvy marketing strategy but also a payment partner that will support, not hinder, your ability to keep your ads running smoothly.