Facebook advertising funnel
I signed up for a Learn Inbound Marketing event a few months ago and I must say the content of the Facebook Advertising funnel presentation was outstanding! It also complements very well my previous blog post on Instagram organic and advertising growth.
This presentation delivered by Susan Wenograd is divided into 4 topics:
- Mistakes advertisers do with Facebook Advertising
- Facebook Advertising funnel
- Creative Ads
- Beyond selling: messenger and bots in a new era of service & growth.
If you prefer listening to a podcast than reading, please find the presentation recording below.
If you have a more visual memory, you will find the podcast transcript and powerpoint presentation further in this article.
1. ADVERTISERS MISTAKES WITH FACEBOOK ADVERTISING
- The first error advertisers do is to open an account and go straight into the conversion campaign.
- Then, the target population told by Facebook is probably more than what you are trying to reach. I’ll explain to you what I mean. When you pick the actual targeting, for eg 1.4 million people, in reality in that pool of target audience they are not all likely to convert. Indeed, some may prefer watching videos, others engaging with your posts and a portion will convert into customers. Consequently, when you select that ‘conversion campaign’ target, you are actually selecting a very small subset of that 1.4 million people.
- Besides, the conversion rate has the highest Cost Per Mille (see this article for more information on C.P.M). Indeed, they are the most expensive adverts you can run on Facebook.
- Furthermore, by selecting the conversion campaign, you are trying to optimise towards the very high-value action, for which Facebook wants you to have 50 conversion events firing per ad set per week. That’s a lot!
- In addition to the expensive adverts with limited audience data, people usually need more than one experience to buy and convert.
Remember that on Facebook, people have no idea who you are, why they should buy your stuff. So you have to convince them like pretty much in any other sales cycles. It’s different from Paid Search (SEO), where people are looking for you.
2. FACEBOOK ADVERTISING FUNNEL
Why an advertising funnel? Funnels are used in marketing and advertising to think about the long sales cycle.
The funnel follows 3 stages:
So, you need to complete one stage before moving to the next when you get started with Facebook Advertising. Make sure to run one campaign at the time.
- Awareness: this is the lowest cost phase of them all. You use cheaper campaign types to cast a wide net and identify interested users through:
- Video views
- Website Clicks
- Post Engagement
2. Consideration: this is when your audience is warm, has started to know you. You can use campaign types such as:
- Website Clicks
This time, you will measure more their reaction to your advertisement such as users who:
- watched 10 seconds of your video
- interacted with posts
- submitted lead ad.
3. Conversion: this is when the audience is accustomed to you and ready to convert. During this phase, you will use retargeting strategies.
To manage complex funnel cycles, let’s use a good methodology.
3. CREATIVE AUDIT
A creative audit starts with the brainstorming of ideas for posts. For this:
- make a list of things to offer or sell to your audience. Think about the content to repurpose. Go through the list from top to bottom. Now you have enough of content to get you started.
4. Campaign types
Let’s talk about them. Pick an asset and find a good and cheap way to run it.
- Got videos: Video view campaigns
- Downloadable content: Lead ad campaigns
- Healthy conversion data: Conversion campaigns.
Aligning with audiences, email list and website traffic are generally the two main ways for people to create custom audiences. You can do so by, for eg, uploading your email list, specifying certain URLs…)., like in any other types of remarketing.
In the last year and a half or so, Facebook released ‘Engagement Audiences’. This is meant to get people to stay on Facebook and consume content within the platform. Most people don’t want to click and be re-directed to another site.
Consequently, Facebook created ways to retarget these people based on what they did on Facebook like:
- video watching time, i.e engagement
- lead form fill out
- interaction with/on your page…
When you create a custom audience, you tell Facebook ‘I want you to find more people like these’, which Facebook calls ‘look alike’.
When you do that, consider how much percentage of the population you want to match to the audience you specified. If you are on a restricted budget, select a small percentage. Contrarily, if you have a large budget, pick 5+ % or more of look alike.
Then, start testing:
- exclude people/interests or include others
- Facebook feed or Instagram
- mobile vs desktop
Think about what you are optimising for, so don’t pick a conversion campaign unless you have 1.5 million followers or more.
5. Return on Ad Spend (ROAS)
Auto-bidding does most of the time a better job because Facebook has more data than we do and bid more strategically.
There’s a new feature rollout for e-commerce, the optimisation to value, i.e optimising return on spend. It works very well.
Don’t generalise too much about creatives. Follow these tips to get a better ROAS:
- Video: high engagement, low conversion
- Static image: cheap, still has a decent conversion
- Slideshows: generally don’t do great
- Carousels: generally get great results from them, high interaction. However, testing is crucial (ensure it picks the correct images)
- Canvas: expensive and can be difficult to get results.
Why creative matter to your media cost?
It is because it’s highly related to ‘relevancy scores’. A relevance score measures how relevant you are to people you are targeting to. You can add it to your campaign. The higher relevance score rewards you with low media cost/spend.
Relevance scores are based on social interactions (likes, comments, shares, loves…), in other terms to the virality of your posts.
6. PRO TIPS TO GET INTERACTIONS
Start A/B test ads assigned to post IDs. If you duplicate that ID, it gives another ID number but it’s the same ad. You can cumulate social proof by ID. Stack that proof in a split test with two IDs/posts having different types of interactions.
When you create an ad. follow these steps:
- Click on that ‘preview’ arrow and then view your Facebook post with comments.
- Look for a URL at the top, that’s the ID you want.
- Copy that ID to your other ad.
- For that, you go to your other Ad set B, select ‘create an ad’
- Click on the button for ‘use existing post’ in the post ID
- Paste that ID there.
Now everything that cumulates on that ID will show up in every ad set that you put that ID into. It makes your social media proof stack up way faster than having to run several ads in silos. You only have to do it once. You can do the same with another ad by adding your ID.
Warning: A/B testing is hard on Facebook because:
- you can’t have multiple ad units in the same. They will always add more relevance to video campaigns than any others. It will only select that type of campaign
- Rotation 50/50 picks the campaign with the highest social media proof because Facebook doesn’t want people to leave their platform.
7. SOLUTIONS TO A/B TESTING ISSUE
- Create a split test with two different targets that do not overlap. Choose what you want to split test. The issue with split testing are:
- it must remain within a set budget
- the ad has to end, it can’t run continuously with your winning test ad.
2. Facebook recently invested in ‘dynamic creative’. You can add up to 5:
- line ads
- calls to action
It will automatically test and rotate all that for you.
Warning: It won’t tell you which is the best picture, it will only provide you with the best combination. So, you won’t know what’s the ad winner.
8. The FUTURE OF FACEBOOK ADVERTISING FEATURES
Facebook is currently running out of Advertising space in the newsfeed.
So, here are few solutions to remedy this issue:
- Place ads in Messenger. That’s a better way to monetise.
- The chatbot is becoming a thing for e-commerce with its automatic responses walking customers through all the way to purchase. Its virtual assistant also guides and advises people and offer a free shipping voucher at the end. Facebook, with its chatbot, is leveraging itself as a customer service platform.
- You can also buy and sell in the ‘Marketplace’. It has a lower reach. Nonetheless, it is less crowdy and competitive. But most importantly, it’s a very cheap way to advertise as it costs only 1$ per CPM (1$ per 1000 impressions).
Keep an eye on new features as there are new things rolled out every month. I would deter you from using third-party. Indeed, the can’t keep up with what is going on.
For those who would like to download the Powerpoint slides containing more visuals and her contact details, click on the link below: