October 6, 2017 by thesmallmediumdenver
Facebook gives page administrators plenty of numbers and data to work with regarding ads placement. Keeping an eye on different KPI during and after an ad’s run dates can provide added efficiency. I’ll discuss four important variables to consider in order to ensure peak level performance.
Budget, targeting, frequency, and relevance are four important data points worth some strategic thinking and management. They each can affect one another, so consider them as one important whole part of an ad campaign versus four individual pieces.
Obviously, you’re always going to know your budget, but be sure you’re spending it wisely and using appropriate styles of ads for individual goals. Whether you have enough money to place an ad covering your entire targeted population or you only have enough to cover a small portion, you want to spend well.
Put your goals first when organizing a budget. If you’re looking for online sales from your website, then you may give them a priority with higher spends. But, consider these ads may cost more to achieve that goal. If your plan is to get video views of a new commercial, you can do so at a very low cost compared to sales-driven website traffic.
Also, don’t oversaturate and audience. If your budget doesn’t cover enough to reach an audience, then you won’t need to worry about this. But, if you’re spending enough to reach everyone, make sure you don’t over spend based on the numbers. This is discussed more in the Frequency Section below.
Targeting is a general term encompassing several steps, so it’s a little unfair to call this “one” variable, but hopefully you’ll let it slide.
Targeting a specific audience can include simple steps using age, location and interest words, or more complex use of Facebook pixels tracked from your website detailing steps taken after the Facebook ad was clicked.
With adjustments and testing of your targeted audience, you’ll know which targeting is working best. This may depend on your content including images, videos, text, and CTA. These too should be A/B tested to see what works, what doesn’t, and with whom is it working.
Better targeting means better costs and benefits the budget.
Frequency refers to how many times people in your targeted audience are seeing your ads using an average such as 2.1. In other words, people have seen the ad an average of 2.1 times during its run.
You don’t want users to only see your ad once or twice because the message won’t resonate with users that scroll past ads. But, you don’t want them to see an ad 10 or more times because they’ve been exposed enough to decide whether action will or won’t be taken. And, if they won’t, then no need to continue showing it.
Typically, a frequency number of 3 to 6 is good but that depends on your goals, content and style of ad campaigns.
Larger audiences will need larger spends to attain higher frequency numbers, thus another example of one variable affecting another.
The relevance number Facebook provides entails how relevant an ad is to its audience on a scale of 1 to 10, 10 being the best. The number is determined based on how much “attention” the ad is getting when seen by your audience. If it’s creating a “thumb stop,” social engagement, clicks, or video views, then a higher relevance score is given.
It’s a good idea to keep your eyes on this number as the ad is running. The ad may start out with a high score but then fade out as the campaign carries on. This would be a good time for you to adjust the budget or targeting.
Also, as mentioned, A/B testing ads’ relevance scores will give you an idea of which content is working better than others.
I hope the discussion helps with your Facebook management and helping your ads run more efficiently. Share any other tips you may have about important social KPI to consider when placing ads.