Is Facebook still costing you thousands of dollars, with no return on investment? Has there been any visible improvement in conversion rates or profits? One of the reasons may be lack of smart Facebook ad targeting, helping you to reach customers who are really interested in the product you offer. Stop wasting your money with these ideas for Facebook Ad targeting that drives results.
What is Facebook ad targeting about?
If you do not define the audience that you want to see your offer, any marketing campaign, and especially one in social media, is a waste of resources.
If you set clearly who your target customers are, you are able to run a bigger campaign, with more money invested initially, but with a higher conversion rate, and return on investment when the ads reach the people truly interested in what you offer.
Only such people will click your ads, learn about your brand and decide to buy from you. We may list three basic types of target audiences on Facebook:
- Core audiences, when demographics, behaviors, and location are analyzed,
- Custom audiences, who have already know your brand, and used your offer,
- Lookalike audiences, who are similar to your present customers, yet without the knowledge of your offer.
What may you do to use your marketing budget effectively to drive results?
Take advantage of Audience Insights
Using Meta Business Suite, you should definitely know the Audience tab, and use it to the fullest with the multitude of important details about your target audiences. It may also be a good idea to use Meta ads reporting, and understand who interacts with your website.
Targeting your potential new customers or followers is one thing, but one of the most effective strategies is using Audience Insights to get information about your competitors’ followers. How to do it?
After you choose your target audience features, such as age, gender, interests, and location, see what pages they are users of, and check the demographics information. It may help you to target your competitors’ fans.
Focus on your custom audiences
If you’re targeting your custom audience, which includes customers who have already encountered your brand, you can strengthen it, increase lifetime customer values, and increase order frequency and loyalty.
You may also do the opposite, which means excluding the existing contacts if you believe they are not likely to buy from you again, or if the ad, for example a free trial to new users, would be a wasted click in case of your custom audiences.
To create custom audiences add the phone or email list of the customers to Facebook. It’s also possible to include the people visiting your page, or taking a specific action in your app.
Find lookalike audiences
You have built a reliable custom audience, it’s time to expand the database of buyers, and create Lookalike Audiences, which means a group of customers with similar features and demographics to those who have already used your service.
You can focus on the customers who are the most active, to make sure you target the most valuable audience. Create your value custom audience first, which will be replicated, basing on the amount of maoney they spend on your products, frequency of shopping, or the type of products chosen.
There are two options of creating lookalike audiences, depending if you want to make your database bigger or smaller. Facebook will show your ad to the 10 percent of users you want to target, or quite opposite, if you want to find more specific audience, ads will be presented to the top 1 percent of customers.