Facebook has gotten so good at direct response and retargeting performance that many clients’ main question is how to scale, not how to make their campaigns more effective.
When the time comes to scale your Facebook account quickly and efficiently, here are 5 tips to follow:
1. Expand Lookalikes
If you have lookalikes that are performing under goal, simply make a new lookalike off of that same seed audience at a higher percentage. This way you can easily make a new audience that is qualified and similar to an existing top performer. If you do make a new lookalike, make sure you exclude the existing lookalike from the new one; this is a way to ensure you are avoiding overlapping audiences, which can generate unnecessary competition and high frequencies. Typically, you will see lower CPCs with larger lookalike audiences, but the CVR will also lower so make sure you keep an eye on how it progresses.
2. Relaunch Old Targets
Look back at previous times you have had strong performance and see if there are any ad sets that had low CPA at some point, but are now off. One of the reasons performance may have fallen off is that you exhausted the audience. If it has been a few months, you should be able to try again and see whether the audience responds positively.
3. Add New Placements
If you are not already targeting desktop, mobile, and the Audience Network, try to expand to target all these placements. Note that desktop typically has the highest CPC and CVR, while mobile has the lowest CPCs and CVRs, so it’s good to test out both to see how they work for you.
Facebook has been making an effort to improve Audience Network targeting recently, and we have seen some potential, but note that it is only available if you are targeting mobile. Also, don’t forget about Instagram! Instagram typically has strong CVR but relatively weak CTR and CPC. It’s a good idea to test a variety of creative and ad copy to fit this platform, since users behave differently than they do on Facebook.
4. Open up Retargeting to CPC bidding
oCPM bidding is catered to ad sets that are around 2 million in reach and can produce at least 20 conversions per day. If you have any audience under this range, there is a stronger chance that it’s being shown a dangerously high frequency of ads. This is the case because Facebook will continually push this ad to the same people whom they deem likely to convert and will avoid the others in the audience. Having a small audience on oCPM bidding could also cause your ad set not to spend its full budget because Facebook is running out of “qualified” people to deliver to. If you have a retargeting audience, you should test switching your bid to CPC. Since the audience is more qualified, the oCPM bidding is not as crucial. Once you switch to CPC bidding, you should see lower frequencies and should have more room to scale.
5. Lastly, Be Aggressive
When it comes to truly scaling an account, you have to be ready to take on some higher CPAs initially. Facebook needs time to get its algorithm together and efficiently push to the right people. Don’t be afraid to double budget to top performers and give Facebook a few days to pick up the performance of the ads; you can always bring the budgets back down if it fails. If you only increase your budgets by 20% every other day, it will take you too long to get what you want, and by that time your time period of opportunity or seasonality may be gone.