The same strategies don’t work like they used to. Discover the best targeting, creative, and latest features to take your Facebook ads to a new level in 2023 and beyond!
We're experts who have worked at Facebook and Google. We've spent millions of dollars in Facebook ads to help thousands of businesses achieve their goals with digital marketing. New features, interfaces, data privacy, and AI are constantly shifting and phasing out digital marketing and Facebook Ad strategies that might have worked in the past. In this guide, you'll learn everything from start to finish to have success with Facebook ads in 2023 and beyond.
Facebook is a great platform to reach new customers, but did you know the average cost per click is now upwards of $1.72! Just for one click...that’s a lot of money. To help you decide if Facebook is worth it for your business we have found after spending millions of dollars on Facebook that there are three things that work extremely well for Facebook ads. You should consider focusing on these three strategies to use your money in the best possible way:
Now that we know what Facebook works great for, it’s time to get into the setup of your ad campaign. If you’re familiar with Facebook Ads you will see a list of goals you can choose from when you first set up your campaign. The trick is that only a few of them actually work to achieve your goal. So how do you know which one to pick?
Conversions should be your only goal.
We have managed millions of dollars across thousands of accounts and regardless of the goal, Conversions Goal has generated the highest ROI and the lowest Cost per Click. With Conversions goal Facebook will help you target people who are most likely to purchase, which is the main goal at the end of the day – even if you are a brand marketer. With that said there are a few other useful goals depending on your business type like Lead generation and App installs. You can read more about the benefits of each below:
Another tip: Reach objective can be the most effective at driving foot traffic to your store in a targeted area. It works fantastic for local businesses with only one location. Especially if you offer a promotion/discount or something free to drive in store traffic in your ad creative- we will get more into creative in a little bit.
"How many visits do I have today? Do people find my website engagement?"
Most companies tend to spend around 15% to 20% of their revenue on marketing efforts.
An easier way to calculate your budget specifically for Facebook is to take your average cost to acquire a customer from any of your marketing efforts and multiply that number by 5 to get a starting daily budget. So if my cost per customer was $4, I would multiply that by 5 for a daily budget of $20.
You’ll want to set aside enough money for about 100 conversions. This is because it will take Facebook about 50 conversions to learn and optimize. And then you’ll want to take advantage of this machine learning to get another 50 conversions.
Recently Facebook created the option for you to let Facebook manage your ad spend across your ad sets from the campaign. This is called Campaign Budget Optimization and you’ll want to make sure you turn it on. With this feature enabled, Facebook will take off a large amount of work from you having to go in and choose where to spend more or less money across your ad sets.
If you want to wing it and not calculate a budget, go for $15/day for each Facebook campaign. Make sure you have 3 ad sets in that campaign so you can test a few different targeting or creative variations to see what works. Make sure to enable Campaign Budget Optimization, Facebook will optimize your spend across these three ad sets so you can focus on your other stuff.
We have spent hours upon hours looking at Facebook ad accounts, we have seen extremely effective and out of the box targeting criteria for a specific audience to engage. We have built thousands of successful audiences for clients, but it’s funny that one of the simplest options continues to outperform. The single best targeting tactic on Facebook is Custom audiences. Custom audiences can be created from your email list, website visitors, and more.
Custom audiences will be your go to for your remarketing campaigns.
Businesses rely on new customers for growth, so it’s not just that Custom audiences work well and that’s all you should use, the real secret is using Facebook to attract new customers is to create a Lookalike audience based on your Custom audience to reach people who are likely to be interested in your business because they’re similar to your best existing customers from your Custom audience list that you upload. Lookalike audiences deliver the most bang for your buck because it’s your own personal audience, which means less competition for you and thus a cheaper cost per click for you. Even better, you can create custom audiences for a variety of options like people who share your post, watch +50% of a video, your email list, or website visitors.
Your best option will be to create a lookalike audience on key conversions for your business, like purchasers or subscribers. Even if you only have 1,000 people on your list, Facebook will expand your audience to millions of new customers who have exhibited similar behavior to those on your list.
A good rule of thumb is to stay with audiences that are under 1 million people in size. In the next section you can explore several expert targeting strategies for how to decrease your audience size, create a super audience, custom audience ideas, and remarketing.
Here is a list of targeting strategies that we have used successfully to grow businesses by over 300%. You can copy these strategies or use them for inspiration:
Now that you know who you can target we will get to the most important part, your creative.
There are 6 different components to a Facebook ad. Starting from top to bottom you have: Text above the image/video, your image/video that you upload, your Headline right below your image/video, your Call to Action button, Landing page URL, Display URL (optional), and Landing page description text (optional). We’ll give you tips on all of these areas right now as well as several overarching best practices that you should follow to have the best looking and highest performing ad possible. But first see an example of a Facebook ad to familiarize yourself with the different components:
Over All Things To Do:
Now let’s dive into several best practices for specific areas of the Facebook ad:
Ad text (Body):
Images and Videos
Video is the best performing creative on Facebook:
Images, follow this guide below to help you choose the style of image for your goal:
We’ve also seen that newly uploaded creative and ads in general perform better in the beginning. This is potentially because Facebook want to promote your ad quickly and see how the audience reacts. So keep adding new ads!
The headline is one of the more important components of your ad. See best practices that you can implement below:
Call to Action Button:
There are over 10 different buttons you can select to get users to take action from your ad. But which should you choose?
We have studied Call to Action buttons across thousands of accounts and we have found the best Call to action button is ‘Learn more’.
‘Learn more’ puts less pressure on the potential customer than the ‘Sign up’ button. ‘Learn more’ also makes your brand look more trustworthy as you want to help the user get more information to help out their purchase decision vs. just asking them to buy from you.
Landing page and link description
The landing page you choose should reflect the messaging, branding, and content that you used in your ad. Facebook Ads is all about making an engaging user experience and if you can create that, Facebook will reward you with a cheaper cost to deliver your ad.
The other component is the Landing page link description. It’s basically another area for you to describe what your landing page has for users before they click. It’s not the most important part of your ad but it does matter. You can use the Link description to mention your price or other products/services that they will find once clicking to your site.
All of these best practices will set you up for creative success. Once you have followed all of the steps above, you are ready to publish your ad and start seeing results. But then what?
Ideally you followed some of the tips above like Campaign Budget Sharing and Dynamic Creative to make your optimizations much easier. Now you will find two things to look at in your Facebook Ad Account to keep ad performance high:
And that’s it, we hope you enjoyed this guide! Get started seeing the results with these best practices for Facebook Ads today! Please remember that strategies are always changing on Facebook so stay up to date on the latest strategies with Plai!