Marketing is the backbone of every business. It doesn’t matter if you’re running an online store or physical location because to be successful, you need customers. Business owners use several different marketing channels to build momentum and their customer base, however, Facebook is one of the best for the following reasons.
First, the Facebook ad network allows you to target interests that apply to your niche. For example, if your selling constellation bracelets then you can target people interested in “Constellations”. Secondly, you have the option of selecting different age groups. After your initial testing, you can start to narrow down age depending on the type of engagement you got. Third, the reporting is awesome, and you can see what’s working and what’s not. For example, narrow down by date, age, impressions, ROI and CTR. This gives you the opportunity to disable those adverts that aren’t working. Ultimately, you save enormous money and can reinvest it back into the advertising campaigns giving you a higher ROI. Finally, you have the option to select what type of ads you want to run which is perfect if you are running different types of websites. If you’re running an e-commerce store, then you can setup conversions campaigns. If you want to increase engagement on your blog’s content, then set up a post-engagement campaign. My point is you have several options that will help you meet your objectives more quickly. With that said,
Today, I want to focus on scaling your Facebook advertisements, so you can maintain your return on investment. This is important because no one wants to lose money when marketing because that’s not the goal of any business. Your objective is to market your business, build traction and maintain your ROI. Let’s get started.
Note: These are strategies to implement when you’re ready to scale winning Facebook advertisements.
Always Have a Strategy
Before starting your scaling strategy, you want to ensure you have a plan and know what to do. For example, you want to write down the important things, so you can scale gradually and not burn your ads before they start to take off. Here are a few things to think about when you start your scaling and formulate a plan.
Budget – how much will you be spending towards your scaling and how often. Will you be investing $1000.00 or $5000.00 per month? Figure this out and stick to your plan so you don’t burn your initial profits.
Products to scale – decide which products are worth scaling. I’m sure you’ve tested several products with some performing better than others. It’s important to know which products have shown momentum and will give you higher returns after scaling.
Fulfilling – once you start scaling your going to have a lot more orders coming in. You need to have a plan to fulfill them in time. Consider hiring a virtual assistant or explore other options to help you out.
Once you know your audience and your interests have been working you can further broaden your audience size by selecting the “Expand Your Audience” box. This will give Facebook a chance to go out and find more similar people within your interest. The reason this option is so powerful is that Facebook takes into consideration the interests you have selected and makes sure when expanding your audience, they find people within the same ones. This can ultimately lead to enormous sales and can help increase your overall ROI. Remember, by now you already have adsets that are performing well so you are now just looking to scale your profits.
Always take advantage of lookalike audiences because these can help you scale your ads and profits 10x. What are lookalike audiences? Here’s how Facebook has defined them –
A Lookalike Audience is a way to reach new people who are likely to be interested in your business because they’re similar to your best existing customers. – Facebook
The awesome thing is you can build lookalike (LLA) for visitors, add to carts, and even purchases. The best LLA’s are obviously based on Purchase conversions because Facebook will find other buyers interested in your product.
However, before you can start to build lookalike audience there are a few things to keep in mind.
First, you must have a minimum number of events before Facebook can build scaling LLA’s for you. For example, to build a “Purchase” LLA you must have had 300+ purchases on your pixel. Only then can Facebook find the right type of people for you. The same applies to any other type of LLA you want to build i.e. add to cart and visitors.
Once you have the minimum requirements, the LLA option can be found under Audiences. Build a custom audience then convert that into an LLA. You can also use the same pixel data to build LLA’s for different countries.
Try Different Locations
The advanced marketer knows that targeting one location at a time is the best approach. This helps get your product in front of the right size audience and keep costs down. However, there will come a time when you are going to want to scale your winning product. So, it’s time to start to market to different locations. Most likely this involves moving into another country slowly i.e. Canada or even the United Kingdom. So, from my experience, you have two options at this point. Let’s explore them both –
- If you aren’t ready to build your LLA’s then I recommend targeting a different country using the same winning interests. Start slow saving you money just in case traction is slow within the new country. This will also give you a chance to figure out if your LLA’s will work in this country afterward. Again, this is a great approach for someone who has not passed the 300+ purchase mark on their pixel.
- If you have enough data on your pixel and have been experimenting with LLA’s then create some for different countries. You can use the event data on your pixel to find similar people in different countries who have performed the same event. I recommend building your pixel first then using LLA’s before targeting new countries. These are way more targeted and can help you scale your audience.
Increase Your Budget
Scaling your ads requires more money so you can get in front of the right people more quickly. At this point your ready to scale your audience so you must be getting a good return on your investment. Your looking for a way to double or even triple your business and this means investing more money to make more money. However, keep in mind the secret to this working depends on having high performing ads. Reason? Because increasing the budget on low performing ads will burn your money very quickly. However, increasing your budget on profitable ads will put more money on your pocket.
The best way to increase your budget is to do it slowly increasing every 3-4 days. This will give Facebook a chance to get used to the new budget and adjust your campaigns accordingly. If you need more tips on how to increase your budget, I suggest doing a quick search in Google or YouTube because there are several video tutorials available. 😊
One of the best ways to scale your audience is by creating new ads. This keeps things fresh and those who previously didn’t click on your ad will probably do it this time around. With so many awesome tools available like Canva.com, you can create new ads in no time. Keep in mind just like audience fatigue happens, your creative will run stale too. Create new ads to keep people clicking on your ad and moving throughout the funnel. Remember, you want to keep building new data, so you can see what’s working and what’s not. This will give you a better chance to scale your ads getting you a higher ROI.
Change the copywriting on each of the ad creatives so you can appeal to those people who have not clicked the first time around.
Create Split Tests
One of the best ways to scale your ads is by introducing new creatives and running a split test. This is a new feature within the Facebook Ad Manager but has allowed advertisers to scale their ads quickly. A few years back, you would have to run new ads separately until you found what worked and with what audience. However, this new feature allows you to quickly test the following by dividing up the ad spend equally. You can test the audience, creative and placement by setting a custom date range then analyzing the data.
With this new split testing feature, you can set the date and how much you want to spend during the period and let Facebook do the rest. The ad platform will split test what you want to and then allocate more budget to the highest performing ad. It’s an amazing feature has allowed advertisers to quickly split test and see the results under one campaign. It’s amazing and a great way to scale your ads. How? Once you know what’s working, you can set up a separate ad, increase the budget and let the profits roll in.
Facebook advertising is huge and when scaling can drive profits through the roof. Try the strategies outlined above to help you scale your campaigns for a higher ROI.