Facebook is THE growth channel when it comes to user acquisition. As more and more advertisers have cottoned onto this, it has become a more competitive space and prices have gone up. Now more than ever it is vital you get it right. Here we review 5 of the most common Facebook marketing mistakes that you should avoid to make sure your campaigns are running as efficiently and effectively as possible.
1. Optimising to purchase before you have enough data to do so
Optimising to purchase is a good idea but you shouldn’t be doing it from the start of a new campaign. The Facebook pixel relies on data to optimise delivery. Given that purchase is at the end of the funnel, it will take a while for enough data to accumulate. So optimising to purchase too soon can often lead to under delivery or poor performance.
If you’re getting low purchase numbers daily or you’re at the start of a new campaign, consider optimising towards a higher volume conversion point, for example a signup, product view or add to cart, as this will help get more daily data on a conversion event.
2. Not leveraging crm/pixel data for lookalike targeting
Custom audiences allow you to use your own customer data when targeting users on Facebook and lookalike audiences are modelled off these audiences. They allow you to reach people who show a similar behavior to your already existing customers by finding common traits.
This is one of the most recognized targeting capabilities on Facebook because of its success rate and tends to be more effective than interest targeting.
Companies often hold huge amounts of data in their CRM systems on each prospect; this is data that could be used to create a custom audience of people that are already actively engaging with your brand. The same goes for data recorded by your Facebook pixel. These should form the foundations of your Facebook targeting strategy.
3. Not testing new audiences or creative strategies regularly
Audiences can saturate and people then see your ads too regularly and become bored, or worse, irritated. This can negatively impact relevance scores and CTRs and see your performance and scale diminishing.
Testing is a core part of any high performance Facebook marketing campaign, and advertisers should always have a small portion of overall budget allotted to trying new audiences, new ad types, new strategies, new creative themes and so on. This will help to establish new ways of engaging users, and help fight against ad fatigue as well.
4. Not excluding existing customers
Retargeting is an important marketing strategy. The Facebook pixel allows you to keep track of previous site visitors and to target them with an ad, based on their interaction with your site. This is highly targeted advertising which normally sees great results when done right.
To get the best result from your retargeting strategy you need to segment your audiences; this allows you to tailor your ads and messaging to the audience. Existing customers should be excluded from retargeting to prospective customers as the messaging should be different. For example, retargeting to existing customers should focus on upselling and retention.
5. Taking Facebook’s tracking as the truth and not considering attribution window and/or overlap with other channels
The Facebook pixel is great for tracking visits and conversions, but there are downsides of relying solely on this tracking. It doesn’t take other factors into account, such as interactions with other marketing channels, which is why you should have a second tracking solution in place to view your conversions.
Google Analytics uses last click attribution and attributes a conversion to the last touch point in the user journey. This means if a Facebook ad was clicked and didn’t convert, but later that customer clicked through a Google ad and converted, both the Facebook and Google pixel will take credit.
However Google Analytics will only recognize the Google conversion, because it happened closest to the conversion. This is why it’s important to have third party tracking and analytics to dedupe conversions by channel and help you choose the right attribution model for your business.
Learn more about how to avoid mistakes like these and run effective Facebook Ads at Hatch:Facebook, a 2-day advanced workshop in central London. The workshop is led by Minas Iatrou, who has over 7 years experience managing large scale Facebook ad campaigns and is currently at Facebook Marketing Partner, Nanigans, where he leads the EMEA campaign management team. For more information on this or any of our 10 marketing workshops, visit our website: www.hatchlondon.com or call 0207 117 2441.