This year has been one crazy rollercoaster ride, without a doubt, and while all of us advertisers embrace the Q4 rush, some of you might be unsure how to proceed with your Facebook advertising efforts and cash in on this peak time of the year.
As many countries still experience lockdown restrictions, online shopping will continue to boom. It will be an important time for people to be together with their loved ones and share the perfect gifts, putting you as the brand owner in the spotlight.
Here are a few things to keep in mind to make the most of your Facebook marketing efforts:
Re-Evaluate Your Budget.
It is important to know how much money you want to spend on ads during this holiday period, and you might have to consider changing your budget to spend more on Facebook ads and capitalize on the thousands of active shoppers.
If you have ticked all the right boxes to find your winning holiday campaigns, you will want to scale and spend more aggressively to maximize your results. This means you also have to take into account what your ad account spending limit is. Many people don’t even know what their account spending limit is and it is a good idea to double-check if you are planning to spend more money.
Read More: Budget Distribution Between the Funnel Stage
Create a Compelling Product Offer
During Q4, advertisers rush to the Facebook ad platform and spend a lot of money to make the best of the final stretch of the year. Some businesses only advertise during the holiday season and competing against the storm of advertisers means you will need a clear and compelling offer for your customers.
If you are offering discounts, 20% or more is the only way to go as everyone out there will offer massive deals or discounts. Free expedited shipping is a nice way to ensure your customers that they will get their products early on in time for Christmas. Although these big discounts can cut into your profit margins, adding freebies or a free gift is another way to successfully convert more customers! You can buy these free gift items in bulk and save more than dropping a big percentage on your selling price.
Read More: How to Set Up Campaigns with Very Different Products and Sales Funnels
Target More Warmer Audiences
One thing you don’t want to do is spend the majority of your holiday advertising budget on targeting cold audiences. If you are spending money throughout the year to acquire new customers, this period is a great time to shift your budget towards targeting warmer audiences such as your Facebook/Instagram engagers as well video viewers.
Putting more of your budget towards retargeting will also ensure that you don’t waste money on people who are not familiar with your brand and that might not be interested in your products or services. Focus on the customers that you have already acquired as this is the time to cash in on them.
Use Automatic Placements for Ads
More advertisers means more competition.This means that your normal preferred ad placements will be saturated with more advertisers and your ads will compete against a lot more people! If you narrowed down to specific ad placements during the year, now would be a great time to test Facebook’s Automatic Placements as there might be additional selling opportunities on other placements.
One of these placements which is often overlooked, is Instagram story ads. If done right, Instagram story ads can bring amazing results and be very profitable, so be sure to test it.
Test Campaigns and Get Ads Approved in Time.
You can test your Christmas campaigns early on to see how they will convert closer to the time. For this test time period you can position your offer as an early Christmas sale and see how your creative efforts, ad copies and compelling product offer affect your sales.
This might seem like an obvious thing to do, but you definitely don’t want to kick off your campaign around Christmas and find that your specially designed creatives and ad copies do not work!
Keep an eye out for your ad relevance score and watch those CPM’s closely. A low relevance score will result in higher CPM’s and this will give you a good indication if you are targeting the right people or if there are faults in your creatives and ad copy.
With all the BFCM and Christmas deals on its way, make sure that your ads get approved far in advance to avoid the clutter closer to the holiday. More ads will have to go through the reviewing process and we have already seen a slower ad approve rate at the beginning of November.
Goodluck to all the advertisers in the last couple of weeks in 2020. If you have any additional holiday advertising tips you want to share with everyone, please add them in the comments below and let’s hope this is a great advertising holiday for all of us!
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