Facebook has now entered into a mature phase, where it not just connects people anymore but also brings businesses closer to their customers. With over 2 million users active online all the time, Facebook can be a goldmine for your business.
Combining its marketing power with its advertising potential, it becomes a profitable platform for your ecommerce venture and helps you capitalize on your online presence. All you need is some killer Facebook ad strategies.
With that in mind, we have collected following seven essential Facebook ads strategies to help collect more leads and drive more profits.
Strategy 1: Use Dynamic Product Ads on Facebook
Conveying the right message to the right person at the right time pays huge dividends, especially greater click-through rates and conversions. This is what Facebook Dynamic Ads do.
Unlike regular image and video ads, Dynamic ads target people with highly-relevant products from your product catalog. These people have already viewed your product, placed it in their shopping cart, or purchased products.
Are Dynamic Ads and Multi-Product Ads Same?
Multi-product ads feature multiple products in a single ad unit in the form of a carousel.
Whereas, Dynamic ads can feature multiple products like multi-product ads or feature single image format that is highly-relevant to the customers in specific stages of the sales funnel.
Steps for Creating Dynamic Facebook Ad
Creating Facebook Dynamic ads is a cinch with a little technical help.
Step 1: Upload Product Catalogue
Line up your products in an XML or CSV File with attributes – product ID, product name, description, and landing page, image URLs, etc. Keep headers for each row on the top cell of each column.
This product catalog will serve as a virtual database where information is saved dynamically depending on what the pixel instructs.
Step 2: Configure Your Pixel
Dynamic Product Ads use the same pixel that is used for creating website Custom Audiences. With little modifications, you can use the same code for Facebook Dynamic Ads. The pixel code exists in your ad account under Ads Manager >> Pixels.
Make sure you add these three events:
Example of ViewContent event
Use the Chrome extension to verify if the pixel is setup properly, or troubleshoot and debug the issues. Or, better, forward these details to your developer.
Step 3: Set Up A Dynamic Ad Template
Create the ad template filled with your offerings. You can opt for the carousel or a single-image format. Pull in product information from your product catalog using keywords.
The ad will appear directly on the audience Newsfeed or in the Right-Hand column, across a range of devices.
Step 4: Run Your Campaign
Voila! Run your ads for a few weeks and analyze which ad outperforms by using A/B test.
Facebook Dynamic Product Ads show only those products that are in stock and those with the current price. When a customer buyers a product from you, the ads are automatically turned off across deliver, so the customers don’t see products they’ve already bought.
Strategy 2: Create A Lookalike Audience (LAA)
Lookalike Audience tool allows you to target more potential customers using your existing customer base. Banana Republic, a world-famous apparel ecommerce store, successfully uses Lookalike Audience tool to expand its reach and find new shoppers.
The retailer received four times more return on its Lookalike advertising spend than other advertising channels. Their click-through rate grew by 60 percent using this powerful Facebook tool for customer acquisition.
Using this tool, you can use your existing customer list to find Facebook profiles with similar demographics and interests. This cost-effective and low-risk strategy focuses only on those customers who are most likely to buy your products.
Unlike interest-based targeting, Lookalike Audiences give you more control over better-quality audiences. You can use this strategy to increase email leads and likes on your branded Facebook page.
Four Types of Facebook Lookalike Audience
For all lookalike audiences, you need to create a custom audience. Keep the source audience larger (at least 1,000 people) for better quality outcomes.
#1 Create a Video Lookalike Audience
It works excellent with your video content marketing strategy. Before you create a video lookalike audience, you need to create a custom video audience.
Create a Custom Video Audience
It allows you to segment your viewers based on the videos they’ve watched and their level of engagement.
Step 1:Open Facebook Ads Manager.
Step 2: Navigate to Assets > Audiences.
Step 3: Create Audience > select Custom Audience
Choose ‘Engagement on Facebook’ from the pop-up box on your screen.
Next, select video.
Step 4: Select ‘Engagement Criteria’ from the drop-down list and choose the videos you want to use. Define the duration, audience name, and click ‘Create Audience.’
You can create a ‘video view’ audience at various engagement levels: 3 seconds, 10 seconds, 25%, 50%, 75%, and 95%. For each one, repeat the process for different engagement options.
Build A Video Lookalike Audience
Now, you’re ready to setup Video Lookalike Audience. Navigate back to ‘Create Audience’ section and choose Lookalike Audience from the drop-down menu. In the pop-up box, fill Source, Country, and Audience Size. For the source, select the custom video audience you create using previous steps.
Audience sizes range from 1% to 10% of the total population of the target country, with 1% being the closest match.
#2 Set Up Email List Lookalike Audiences
Step1: Navigate to Audience dashboard > Create Audience > Custom Audience > Customer File
Step 2: You’ve two options – upload your data as a file and paste the data, or import it from MailChimp.
For uploading the list, click Choose a File or Copy and Paste the Data. Unload the email list (CSV file).
Step 3: Map your identifiers. More identifiers get better match rate. Here, we’ll use First Name, Last Name, and of course, Email Address.
Step 4: Click ‘Upload & Create’ and you’ll see a progress bar and how many data rows were uploaded successfully.
#3 Create Conversion Lookalike Audiences
With this, you can target customers who’ve completed a particular conversion event. Before creating Conversion Lookalike Audience, be sure to set up and install conversion tracking.
Create a Custom Audience for Conversions
Step 1: Navigate to Facebook Ads Manager > Create Audience > Custom Audience from the drop-down menu> select Website Traffic.
Step 2: Select the drop-down menu which you want.
Finally, select the ‘Include Past Website Traffic,’give your audience a name, and click Create Audience.
Build a Conversion Lookalike Audience
Step 1: Navigate to Create Audience > Select Lookalike Audience > Choose your website custom audience from, drop-down list.
Step 2: Select County, choose audience size, and click ‘Create Audience.’
#4 Construct Page Likes Lookalike Audiences
Now, this is the simplest and easiest to set up because you build it from your page fans.
Navigate to Create Audience > Select Lookalike Audience > Select your page name from the drop-down list.
Finally, choose the target country and your audience size.
Strategy 3: Facebook Retargeting/Remarketing Campaign
Growing cart-abandon rate is disappointing! But, letting your customers go is a sin for your ecommerce business.
Let’s consider this scenario: you run an ecommerce store. You are getting traffic to your pages, but most of the people quit before making a purchase. They don’t convert into your customer, and you’re losing them. It is where retargeting comes into the picture.
Here are some retargeting stats that will make you believe the power of Facebook retargeting:
- Retargeting boosts ads’ response by 300 percent.
- Nearly 26 percent returning customers complete the check-out process.
- The typical conversion rate is 55 percent for retargeting-based businesses.
Following pictures shows a buyer’s journey, divided into five phases:
Facebook retargeting helps at the final ‘Buy’ stage. This strategy assumes that people are already aware of the company and its products. Retargeting campaigns display the better information on the products people are already interested in. With improved information, they instantly trigger back into their buying journey and end up with buying the product.
Facebook retargeting is an effective means of reconnecting with people who visited your store but did not make a purchase.
How Does Retargeting Work?
Retargeting, also known as remarketing, is a highly-effective marketing tool that targets your ad campaigns to people who already expressed interest in your offerings. These people are already in-market. Retargeting ads remind them how excellent your product is or why they should choose you.
The way it works is straightforward:
People visit your store; you segment your website visitors, create custom ads and show those ads to those segmented visitors via Facebook.
Facebook retargeting helps boost conversion rate and lowers the overall cost per customer acquisition. But, the biggest benefit is that retargeting ad appears to only those people who are genuinely interested in your products.
It’s all about re-engaging your customers! Give them a so much good reason to return.
Let’s see how to create your retargeting campaign:
Step 1: Log in to your Facebook Ads Manager and select Audiences
Click on ‘Business Manager’ on the top left side of the screen, and click on ‘Audiences’ in the drop-down menu.
Step 2: Click on Create Audience and select Custom Audiences
You’ll notice ‘Create Audience’ button at the top left corner. For retargeting, you’ve to select ‘Custom Audience’ to set up a campaign that targets people who visited your website.
Step 3:Select Website Traffic
You’ll see many options on your screen. However, for the retargeting campaign, you have to focus on your website traffic.
Step 4:Select your target audience from the drop-down menu
You have the option of targeting:
- Your website visitors
- Visitors to specific pages
- People who visit only one or more specific page, but not others
- Who hasn’t visited your store in a certain amount of time
- Custom combination
As you see in the image, you can target a date range, give it a name, and get started.
Step 5:Get your pixel code and place it on your website
The Facebook pixel code will place a transparent tiny 1X1 pixel on your website that allows tracking your website visitors.
Consider the above-mentioned third strategy above to understand what Facebook Pixel code is and how to get it.
Strategy 4: Facebook Mobile Ads + Instagram Ads
Facebook and Instagram are two topmost mobile platforms these days. The good news! You can combine the power of both in one.
Instagram is the biggest platform to promote visual content. It has over 7 million monthly active users, especially mobile users, making it a profitable platform for ecommerce brands. Creating Instagram ads can be a lengthy task, and this is where Facebook helps. A report reveals that Facebook has approximately 1.19 billion monthly active mobile users.
These stats suggest combining Facebook mobile ads with Instagram ads. Advertisers can combine Instagram ads with Facebook ad campaigns through: Ads Manager and Power Editor. All you need is: simply check “Instagram” box under the ad set’s Placement section.
Create Instagram Ads in Ads Manager
You can create Instagram ads in the same way you create Facebook ads.
Step 1: Navigate through Business Manager > Business Settings > Instagram Accounts > Claim New Instagram Account.
Step 2: Enter your Instagram account details and click ‘Next.’
Step 3: Authorize your ad accounts to use Instagram account by checking the box next to each ad account. Click ‘Save Changes.’
Through Page Settings
You can do this through your Page’s settings as well.
Navigate through Settings > Instagram Ads > Add an Account > Sign in Instagram Account > Confirm
Step 4: Go to ‘Ad Creation.’
Step 5: Choose your ad objective that supports Instagram. The objective can be:
Step 6:Click ‘Continue’and fill in the details of your ad including ad targeting, budget, schedule and creative.
Step 7: Before you click on ‘Place Order,’ ensure to check next to Instagram in the ‘Ad Preview’ section of ad creation. This will ensure that your ad is eligible to run on Instagram.
Create Instagram ads in Power Editor
Power Editor is a Facebook advertising tool that allows advertisers create, edit and publish multiple ads at one in a controlled manner. Link Instagram account to your Facebook Page following ‘Through Page Settings’ steps given above.
Step 1: Create a campaign in Power Editor that supports Instagram ads:
Power Editor > Create Campaign > Enter Campaign name
Also, choose ‘Auction’ for your ‘Buying Type’ and set ‘ad objective’ for Instagram ads.
Step 2: Create an ad set for your ad:
- Click ‘ad Sets’> Create ad Set > Enter a Name > Create
- Select the new ad set. Click Edit to set details such as budget, schedule, audience, Instagram in placement section and pricing.
Step 3: Create an Instagram ad in Power Editor:
- Go to ‘Manage Ads’ tab and click on ‘Create Ad.’ Here, choose whether to use an existing campaign or create a new.
- Enter a name, click ‘Create’ and provide completed details for the ad.
- When the ad is ready to publish, click on ‘Review Changes’ button.
When creating your ad, keep the Instagram placement checked to make your ad eligible to show on Instagram.
Strategy 5: Facebook Video Ad Marketing
When you advertise on Facebook, always think of your audience in two categories: people who already know your brand and those who are not. Don’t advertise with “Buy Now” in the advertisements that appear in the news feed of new people. Warm people up first and introduce yourself warmly to your ‘cold’ audience.
Let’s check out some staggering stats first. A 2016 Q2 report indicates that 500 million people watch videos on Facebook each day. Another report states that Facebook videos have increased 360% across each audience’s news feeds. Also, around 87% of online marketers prefer video content due to tremendous revenues video marketing brings.
If you also want to leverage the power of Facebook video ad marketing, follow these five steps to winning more business through this popular social media platform:
Step 1: Making an Engaging Video
Choose the video styles:10-second video, educate/entertain video or call-to-action video that work well as Facebook ads. You don’t need expensive equipment and designers to create high-end video clips.
There are lots of free and high-quality tools that you can use to create effective and profitable videos for your Facebook ad campaigns. Following three main styles/lengths of videos work well as Facebook ads:
- Short Video Snippet (0:15-0:30 seconds) – short, curiosity-based video with “Did you know?” like curiosity-evoking questions.
- Traditional Commercial-Style (0:30-2:00 min) – Interesting and authentic, yet still persuasive.
- Long-Form “Edutainment” Style (3-6 minutes) – A content-rich video that educates, entertains and persuades.
Step 2: Create New Campaign Using the Most Optimum Campaign Objective
Keep your objective in your mind while designing a new campaign. For conversions, use Website Conversions objective, and for speed and ease-of-use, use “Boost Post” from your Facebook Page.
Step 3: Create First Ad Set According To Your Target Audience
Always start your campaigns with warm audiences, which are people already familiar with your brand.
Step 4: Create an Ad with Compelling Ad Copy
For video ads, following three types of ads work:
Short Copy: In this type of ad, users don’t need to click on ‘See More’ to read all content in the post. It is other most popular types of ad you can see on Facebook.
Long Copy: In this type of ad, users have to click “See More” to read the content of the entire post copy.
Long-Ass Copy: It means a long copy, perhaps, an entire blog post put into the post of the ad.
Step 5: Monitor, Reporting, Adjust and Optimize
As your video ad starts running, start monitoring its performance.
Manage metrics by clicking on “Customize Columns” drop-down menu in the Ads Manager and focus on the most important metrics only.
The goal of your video advertisement is to engage your potential customers. Do experiments and control that instinct to make everything perfect.
Strategy 6: Audience Optimization
Having more information about people who are more interested in our posts can help deliver the content to the right audience. It can be achieved by Audience Optimization, which is an organic targeting tool that increases the reach and engagement of the posts on Facebook.
Audience Optimization has three major features
Preferred Audience: Use tags to describe interests of people who are most likely to find the post useful. For example, an apparel post might include tags for men and women.
Audience Restrictions: Restrict your posts’ visibility to specific demographics with this tool.
Audience Insights: It shows how each interest tag contributes to a post’s each, shares, likes and clicks.
Audience Optimization is available for all English language Pages. Page Admins should make sure they have the tool enabled.
Pages with over 5,000 likes will have this feature automatically turned on.
To turn on the Audience Optimization tool:
- Go to your Page Settings.
- Click ‘General’ on the left side of the page.
- Find the row labeled ‘Audience Optimization for Posts’ in the middle of the page and click ‘Edit.’
- Check off the box that allows you to begin using the feature.
Audience Optimization is accessible through Page post composer, Graph API, Third-Party publishing tools and Instant Articles.
Before you start with an expensive Facebook ad campaign, test it on a smaller scale by running A/B tests.
Moreover, use the Facebook Ad strategies mentioned above to develop your own tactics. Remember, the key to Facebook ad success and reaching your wildest goal is to start with the most creative ideas before your competitors.