When it comes to Facebook, the game is constantly changing. Advertisers have to be on the constant look-out for new ways of finding what current trends are working in order to make their Facebook ads stand out. The tactics you have been using or the demographics you targeted a few months ago might not necessarily work today. The experts at our agency are well-aware of these fluctuating trends. We have crafted the ideal model for finding a winning audience and have broken it down to these three crucial tips:
Top 3 Strategies for Identifying a Winning Audience for Facebook Ads
1. Use the Audience Insights Tool to Your Advantage
The first strategy you should employ in your targeted Facebook Ad campaign is identifying 5 – 8 interest-based audiences using the Audience Insights tool. Ideally, your audience size should be in the range of 250k to 5 million. Depending on your budget, 5 million might be too large of an audience. However, Facebook has developed a hyper-intelligent algorithm that maximizes your budget and finds the right customers for you. Understanding the Audience Insight tool has already been covered in some of the other reading materials. Brush up on your knowledge by clicking here.
2. Split Your Audience into Separate Ad-Sets
Once you have identified a successful audience for your Facebook Ad campaign, you should go ahead and split these audiences up into separate ad-sets. You may have up to 5 to 8 ad-sets running for a given audience. We used to use the strategy of splitting our audiences into groups such as “magazines”, “nutrition” or other applicable categories. This method is no longer effective. Instead, it is best to split your audience up while instead focusing on the size of your audience
3. Identify a Target CPA
The final and most crucial step for identifying that winning audience is identifying your target CPA (cost per acquisition). This target CPA is going to be what controls your budget for the duration of your Facebook Ad campaign. From our winning model, we suggest running you ad set for three days. This should result in three times your target CPA. From this data, you should be able to clearly identify your winning audiences. Track your stats and from this information check for important details such as sales, add to cart rate and a higher than usual click-through rate.
In our experience, using this method is the best way to correctly identify an audience. These strategies will help you identify exactly which audiences convert. From this helpful data, you can easily decide to scale up your funding for directing ads to this audience. You will be able to create one ad-set at a higher budget directly targeting a winning audience. By rinsing and repeating this method, you will always be maximizing the potential of your ad campaigns on Facebook. Taking the time to identify a winning audience can ensure that your ad campaigns are successful and lead to meaningful leads.
More importantly, it is important to adjust to Facebook. The Facebook algorithm is constantly changing. The winnings tools of yesterday may not work today. Adjust your audience and revise your tactics for the best results!
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