5 Tips to Increase Conversion Rates on Facebook Ads!

Discover 5 ways to scale your Facebook ad campaigns and increase your website conversion rates.

1. Pay a small salary every 4-7 days

As the name suggests, "small salary" is the Facebook advertising budget, and spending "small salary" means increasing the Facebook advertising budget.

To use this strategy, first make sure your Facebook ad campaign is profitable. When your ads are performing really well, you can increase your budget by 10%-20% every 4-7 days.

Ueeshop gives an example. The ad set has been running for 3 consecutive days and has generated 7 conversions. The price of each conversion is $10.68. This is an ad set with good conversion results.

As you can see in the image above, the maximum allowed cost per signup is $23. If you want to scale up your budget, increase it by 20% (from $23 to $27.60 per day) and let it run for another 4 days before reviewing again.

2. Increase your optimal FB audience spend

If your target audience is 1 million people, then a small portion of that audience will likely generate more profit than the rest of the audience combined.

The second strategy regarding advertising scale is to find the most profitable customer segments and spend more of the advertising budget on them.

At this time, Facebook ad segmentation can help you.

To find this data, open Facebook Ads Manager and look for the “Segment” button located in the upper right corner above the data table.

When you click this button, you’ll see four types of segments to choose from:

By time

By delivery

Through action

Via dynamic creative assets (only available for Facebook’s newest dynamic creative ad product, which automatically creates ad variations)

Most of the time, you'll see significant differences when comparing results across age groups.

As shown in the figure below, the 35-44 age group is the customer group with the largest conversion, followed by 45-54 years old.

Of course, you won’t necessarily see the same results for each segment. If you analyze the data carefully, you may find something surprising. After all, sometimes the answers given by the data are very different from what you imagine.

Don’t forget that you may have more than one profitable niche. As shown in the chart below, you might find that women aged 25-54 and men aged 35-44 are most likely to convert.

Based on this data, you could create two duplicate ad sets, one targeting females aged 25-54 and one targeting males aged 35-44.

Ueeshop Tips: Some Facebook advertisers want to get results quickly, so they spend 100%-200% of the original budget on a smaller target audience, but the final results are often not very good.

If you are doing this for the first time, don’t rush it and spend only 30%-50% of your original budget.

3. Horizontal scaling of FB ads

Horizontal scaling is one of the most widely used methods of expanding your Facebook ad campaigns.

Pick out the ads that are highly profitable, create new ad sets and reuse the same ads, choosing a different objective in each new ad set.

To implement this strategy, try a simple two-step process.

First, create a campaign to test different ad copy and creative combinations.

Next, when you find a successful ad copy and creative combination, copy it into another campaign to suit a different audience.

4. Automatically allocate FB ad spending and CBO

In September, Facebook began requiring all CBO-compatible advertisers to move to CBO when using multiple ad sets.

I believe many of you still don’t know about CBO. CBO is the abbreviation of Campaign Budget Optimization, which is used to optimize the allocation of campaign budgets among various advertising groups.

Facebook will evaluate each opportunity individually and optimize your campaign budget in real time. Get the best results at a cost that matches your bidding strategy.

Then some friends will definitely ask what are the benefits of using CBO?

1. Create higher marketing value

2. Save management time

3. Simplify campaign management

4. Remove duplicate audiences

5. Avoid restarting the machine learning phase

6. Spend your budget efficiently across all audiences

With CBO, Facebook hopes to help advertisers who haven’t allocated their ad spend so they can more efficiently get better results from the platform.

So far, our testing shows that CBO works very well when you want to scale your budget to over $1,000 per day. When you have:

Multiple ad sets targeting profitable audiences

Ads performed well in early testing and were not only profitable, but also had link click-through rates exceeding 2%-3%

While CTR itself isn’t necessarily an indicator of ad performance, a profitable and engaging ad means that as it reaches more people, it has room to grow and still remain profitable.

5. Use FB automated rules to reduce risk

Lastly, duplicating profitable ad sets is a quick but risky way to scale your campaigns. It doesn’t work every time, but when it works, it works really fast.

If one of your ads costs $50 per day, then you can duplicate it and set a higher budget (for example, $100 or $150 per day). So, in just a day or two, you could potentially double your ad spend and results.

Since this method doesn't always work, try to minimize the risk of wasting money. To do this, go to Facebook automated rules, which you can create in Ads Manager.

Ueeshop Tip: If the ad spend is greater than or equal to three times the cost per conversion, please close the ad set.

Why three times? There are two reasons.

First, reporting on Facebook is often delayed in real time, and you need to give Facebook a reasonable amount of time to update reporting and keep profitable ad sets running for as long as possible.

Second, when collecting data on a campaign, the “law of small numbers” can trick you into making bad decisions.

Author: UEESHOP

Source: UEESHOP