How to Improve Facebook Ad Performance
It’s a million dollar question, isn’t it?
Considering the potential success of Facebook ads, businesses continuously invest in Facebook. A 2020 study shows that 89% of marketers use Facebook as their primary ad space.
It doesn’t matter which field you’re in, your audience is most likely to convert via Facebook but if and only if you’re doing it right. How to do it right, though, is the question many don’t get a straight-forward answer to.
Since there are so many aspects in play affecting your Facebook ad performance it’s generally hard to recognize which need additional attention and tweaking.
From correct audience targeting with a matching message to placement, CTAs, conversion funnel, and of course the creative itself whether it’s an image, gif, a video, or a carousel – the list can seem endless.
So where do you start?
In this article, we will go over what affects Facebook ad performance the most. According to Nielsen’s study, it’s creative with a 47% performance attribution.
How to improve Facebook ad creative performance?
Today, companies use various methodologies to test their creatives in order to figure out what works and what doesn’t.
Facebook offers all sorts of ad types and a split-testing feature (not available with dynamic ads) to help marketers slice through their work, analyze variations and figure out actionable conclusions.
In the example above, the A/B test is set up to identify what kind of image would work better, horizontal or a square? However, the results aren’t precise and consistent enough because as you can see, other elements of the creative changed too (like text).
So how can we figure out what works? Firstly, you need to use the ad types and goals accurately to be able to analyse the ads performance.
Accurately use Facebook ad types and their goals
Different ad types propose a different function. Carousel ads are different from video ads, right? Figuring out your objective that aligns with each ad type is the first crucial step to increased performance.
For instance, you want to run an engagement campaign to increase page likes. Should you use the same creative you used for a conversion-based campaign? Probably not.
Once you have your goal and ad type figured out, only then do you work on the creative variations that support them.
That’s the ad creation funnel that is a #1 tip for all marketers. Unfortunately, many still use the opposite approach.
Here’re a few tips on how you can start analyzing your ad performance once you have your initial funnel.
Form a hypothesis that will help you analyze your results
Let’s say you’ve seen that video ads work great for your audience – that’s your hypothesis. Now, you can test it.
Create an equal number of ads for the same target audience, with the same CTA and copy but create a variation of creatives. Then give your ads a few days to run, (ideally, you want to complete Facebook’s learning phase). Then, measure your results based on the goal of these ads.
Similar creative testing can be applied to all sorts of hypotheses to help you identify what works based on data, not just intuition. Whether it’s a CTA position or content, music presence or lack of it, audiences. Add a “scientific” approach to your Facebook ads testing by changing one variable at a time.
“In my experience, split tests are helpful ONLY when you want to test an isolated variable (headline, CTA, etc.) for a limited period of time (14 days). This makes its use case extremely limited right now.”Quote from Apptamin by Shamanth Rao, VP Growth & UA at FreshPlanet
And yes, this might end up being pricey.
Running successful Facebook ads is easy – 🤦♀️ said no one, ever.
80% of US eCommerce stores are using Facebook ads to bring traffic and increase sales. How many of them have a successful ROI?
We don’t know for sure (if you have such a statistic, please comment below!) but we do know that each Facebook user clicks on an average of 11 ads per month.
This tells us that most ads aren’t actually bringing clicks. In fact, statistics show that the older generation actually accounts for higher CTR than those under age 54 (just a fun fact for you).
So how do you compete with 80% of all retail ads and actually convert?
There are faster ways to measure your creative performance besides the A/B testing methodology described above.
The secret still lies in collecting performance data but today, you can rely on technology to do that for you, like Pudding.ai.
Analyse your ad creatives, fast
Unlike conventional methodologies of A/B testing your ads, which takes a long time and is based on your potentially biased hypothesis, an artificial intelligence solution like ours could provide you insights in real-time.
Now, marketers can see in real-time what ad creatives perform well and which don’t. Besides that, it’s now possible to pin-point which elements within those creatives help your ad goal and which hurt it.
In this example, we measured the elements’ performance for a CTR goal. Within seconds, Pudding analyzed all ads for this goal, picked the best and least performing ones, and created a performance overview of the elements included in those ads.
Let’s say your hypothesis was that the video ad works best for your audience.
However, there are so many elements that can vary between your video ads that recognizing those would require additional creative A/B testing of each element to identify those as well. That’s when it just becomes too much and frankly, most marketing teams just won’t do that.
With Pudding.ai, the platform identifies all elements within a video ad and shows hard data to support it.
For example, using music as opposed to the voiceover in the first 5 seconds of your video might actually hurt it even though overall, the videos do perform better than images – your bias was mostly right.
By the way, that’s a real-life example from this year’s Super Bowl ads insights.
Besides videos, Pudding.ai will help you analyze elements performance within images, gifs, and copy. You can filter through your goals by selecting a metric you want to measure chosen KPIs (or their combination) and enjoy the real-time insights.
Turn off underperforming ads
Whatever your goal is, you need to monitor your ads closely to identify underperforming ones as soon as you can. This again requires precious time, attention, and additional analysis.
Sometimes, an ad could qualify as an underperforming one even if it reaches a goal. This happens most frequently when the goal is impressions or video views.
Why? Because your ad could have many views but the audience is already tired of them. That’s what ad fatigue is.
Recognising ad fatigue can be tricky business. But don’t worry – here at Pudding.ai we’ve got you covered for that too!
On our dashboard, you’ll see right away which ads are going fatigued in real-time so you can pause them right away.
Alternatively, you can manually set a “Daily Unique Reach” objective but it has its own downfalls and thus, rarely used. You can learn more about this objective here.
Improving Facebook ad performance can take years of practice, excellent media, and creative teams but the foremost important aspect is accuracy in strategy.
As a marketing strategist, you receive performance insights from your media team but sometimes their insights aren’t telling you much in terms of creative planning.
Since your ad creative is worth almost half of your ad’s performance, we can’t press enough how important it is to recognize exactly what works and what doesn’t. Thus, traditional creative A/B testing comes into play, if only it didn’t take so much tedious work and funds to figure out the winning strategy.
In 2021 marketing, not using advanced technology that helps you with the tedious workload is going to keep you behind your competition. This 100% applies to creative testing as well.
Using solutions like ours (request a demo here), will help you stop A/B testing your creative elements, save hours of work and thousands of dollars.
Now, you can get a complete overview of all ad creative elements that work and don’t, understand why and plan for your future campaigns with solid data backing you up.
How to improve your Facebook ad performance just became an easier question to answer – now, over to you!