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How Social Media Changed the World of Business Marketing

DimNiko - Social Media Changing Business

Have you ever wondered how social media has changed advertising? Since the birth of the internet it’s a little bit hard to appreciate how far the world has come in a very short time. Especially how it has connected people, businesses and life in general and how small the world has actually become as a consequence of this. 

The need for businesses to develop marketing strategies due to the competitive environment has become an art in itself and with the internet, it is more relevant and important than ever. I believe advertising is the biggest factor that determines the success of a business. 

The fact that Coca Cola basically created the Santa Clause we know today is the type of marketing and advertising campaign you only see happen once in a lifetime.

Without the internet businesses had to commit to one single gamble to do something truly spectacular or fail spectacularly with it. They had one shot to make it work and could only rely on good research and experience from a well built advertising team. This chance was mostly reserved for massive corporations and made the playing field less “fair”.

The Introduction of Social Media

Social media is one of the biggest industries if not the biggest to develop from the internet, from the original social media “experiment” MySpace to what we see now with Facebook, Instagram, YouTube etc. 

Each of these platforms with its own unique twist in the way it has connected people and businesses. This has opened so many new opportunities for a countless number of people; it is truly something spectacular when you take the time to sit back and appreciate it.

Companies have always had the need to develop unique advertising strategies that make them increase brand awareness. With the internet and the thousands of companies that came from it, it has made it difficult to fight for that little screen space. 

Before the internet and social media, companies had very limited eyes to compete for, but the space was more limited as well. A lot more thought and money had to go into an advertising campaign back in the day, and it was basically a gamble with little to no direct feedback. 

This made even brand awareness campaigns expensive and somewhat reckless, due to the lack of data.

How Social Media Changed Advertising

How social media has changed advertising could be hard to quantify, because of the pace at which businesses had to keep up with the changing environment.

Advertising on social media has made companies gain an advantage of direct feedback that companies from 30 years ago could only dream of. 

The data gained from advertising on social media, means that companies can know exactly why and how an advertising campaign is working or not. 

One of the negative effects I believe from this is that some creativity is lost in the process because a lot less thought has to go into making an advertising campaign from inexperienced businesses. 

If you know exactly what your customers want to see, there is no need to fix something that is working, right? Not exactly, it’s just that most businesses just forget that the creative continuity is extremely important. Which is the reason why it is important for businesses to look at the data when building advertising campaigns.

Read More: Are You Really Testing Creatives On Facebook or Is It Luck of the Draw?

This leads to the need for something big and extravagant to be put aside in favor of what the data loop shows the person running the campaigns.

If a business knows how to read the creative data, it puts it miles ahead of the competition. Which is the reason why keeping that creative importance with advertising is so crucial to building a great advertising strategy. 

Soo how has social media changed the way we do business? It’s simple, it’s made it a hell of a lot easier to conduct business. 

How Social Media Changed the Way We Do Business

Some of you might not remember how absolutely daunting a task it was to sit for what feels like hours on hold for a customer service call. This was a missed opportunity for many businesses because customers would rather leave the problem alone than sit on a call.

How does social media affect business communication?

Social media has made it possible for customers to contact the business directly with ease and without effort to give feedback on a product or to make a complaint.

Customers still have the chance to call customer service, but most customers would rather go on Facebook and send them a message or post on their wall. This has allowed businesses to take advantage of the feedback they get from customers and strive to improve, since social media can be an unforgiving environment sometimes. From angry customers to constant policy changes.

Data is a fantastic consequence of social media, it is an interesting phenomenon that mostly media buyers only get to appreciate.

Advertising on social media has become an art, and has led to a gain in knowledge that can’t be compared to anything else in the traditional sense of the industry. 

Which is why there are agencies like DimNiko that find the best advertising “artists” around the world. 

If you are spending over $500 a day and you want to scale your brand.

Book a call below, to have the best of the best work on your brand.

>> https://dimniko.com/msp-apply

And that’s a wrap! 

I’m Quintin, Media Buyer at DimNiko 

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How to Setup and Use Facebook Ads Manager

DimNiko - Facebook Ads Manager

Facebook advertising is a big deal nowadays, according to statista.com, the global social penetration rate reached 49 percent, with East Asia and North America having the highest penetration rate at 71 and 69 percent respectively, followed by Northern Europe at 67 percent and the number of worldwide users is expected to reach some 3.43 billion monthly active social media users by 2023, around a third of Earth’s entire population. WOW, it’s a big number right? So those who have a business and haven’t started advertising yet on Facebook, I’ll show you how to use Facebook’s business manager and how to use Facebook ads manager.

How to find Facebook Business Manager & Ads Manager?

Firstly if you’re wondering if Facebook Ads Manager is free? YES, FB it’s a free marketing platform however you’ll be paying for advertising. In order to use Facebook Ads Manager, it is not necessary to run ads but if it’s useful to create it.

Firstly you’ll need a FB profile if you don’t have one yet, and then you set up a business manager. Business Manager will help in managing more than one page or if you have a team or agency that you can grant access to help you run ads. Probably you are wondering if you can use Facebook Business Manager on mobile? The answer is yes, so people can spend less time on desktop computers and track everything on the go.

It is necessary to create a Facebook page for your business which will be attached to your business (without is not possible), click here to create one. The FB page will offer you remarketing opportunities, it looks like a normal profile however people will take different actions, and based on this you’ll be able to retarget.

Once done you can add several Ad Accounts under the same Business Manager through the Business Settings and select Accounts. At this point, you’ll need to add as well the payment method.

Read More: Facebook Ads Vs. Google Ads: Which is Better

Now you are ready to dive into the Facebook Ads Manager guide.

Facebook Ads Manager

Recently has been updated the Dashboard, and you’ll find it in the top left by clicking on Business Tools and then Ads Manager. At this point, you can set up the first campaigns by clicking on the create button.

One very important step here is to set the objective of the campaigns, always choose the right goal as this objective is the goal of the whole campaign. The three main objectives are awareness, consideration, and conversion. The budget of the campaign you can determine on campaign level or ad set level, however with this you’ll need to experiment and see what works best for you.

The next step is to set up the ad set, here are all the targeting settings.

Firstly you’ll need to choose the pixel event action you’d like the user to take: the most common for ecom stores is purchase however based on your business model you can select different event types. All this can be set up from Events Manager by choosing it from the Business Tools – top left corner.

Audiences are big players when setting up a campaign. Here as well are 3 main types of custom audiences, lookalikes, and saved audiences. This is where pixel data is super important, as without you wouldn’t be able to track your audience. You can select Audiences through Business tools top left corner.
Going further you can select the location, age, gender, and languages, interest, behaviors to reach a more specific audience.

The next step is choosing the placements where you’d like your ads to show. In the beginning, it is advised to use all placements however you can customize it. One more important step is to choose the right optimization and ad delivery event and bid strategy. This is very important as affects who sees your ads in order to get you the desired outcome.

Read More: Benefits to Advertising on Facebook

Campaign Setup

We arrived at the last step of the campaign set up. It must be selected the FB page at least and if you have an Instagram account choose it as well. There are 3 main ad formats single image or video, carousel, collection. Best practice is to experiment a lot with the creatives and see what works best for you. The rest are the elements of the ads which is customized to your product.

Make sure to turn on the Facebook Pixel for Conversion Tracking as sometimes it’s OFF by default.

Difference Between Facebook Ads Manager and Business Manager

Lastly, I want to highlight what is the difference between Facebook Ads Manager and Business Manager. As I said in the beginning you don’t need a business manager in order to run campaigns but it’s advised to have Business Manager and under it the Ad Account. So Ads Manager is for managing your campaigns, and you can use it for reporting too while Business manager is useful to manage more pages, add more people or agency to manage your ads and you can customize their access.

This is just a general overview of how Facebook advertising works and what do you need to get started.

If you have any questions please feel free to ask.
Also, if you’re spending over $500 a day on paid advertising and want to scale your brand you can book a call below:
https://dimniko.com/msp-apply

Have a great week!
Ago from the DimNiko Team 🙂

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How to Use Social Media For Increasing Brand Awareness

DimNiko - How to Use Social Media to Increase Brand Awareness

Regardless if your business is offering a service or a product, brand awareness goes hand in hand with your sales. It goes without saying that the more people know about your brand, the higher your sales will increase. And there is no better place to increase your brand awareness than social media.

Having a social media strategy in place in order to increase your brand awareness should be part of your overall marketing strategy. However many advertisers struggle to find the best solutions to achieve this goal.

There are several ways to increase brand awareness on social media, and here are some of them:

Find The Right Platform

There are plenty of platforms where you can advertise your brand. Based on your product or service, some will have a bigger impact than others.

For example, if your business is B2B, you should consider having a presence on Linkedin, while if your product is targeting teens, you should focus on platforms like Instagram, Snapchat or TikTok. Once you have decided which platforms work best for your brand, you should personalize your social media marketing for each one of them. Don’t post the same content across all channels, take into consideration the type of audience you will be reaching in each platform and mold your content based on it.

While your content should be different across channels, your profile should be recognizable in any case. The main objective of brand awareness is for your brand to be recognized. From your profile image, your bio, to the content you post, everything should match your brand and your followers should be able to recognize you.

Connect with Your Audience

There are plenty of ways in which you can connect and engage with your followers. Answering their questions and providing information, the faster you react to the comments, the higher engagement you will create. Creating polls or contests, people love to participate and compete, and contests or giveaways are a great free tool to ensure your content will be shared. Creating posts to initiate conversations or debates, if the topic is interesting enough it will reach non followers that might become one. Doing live videos, live-streaming is here to stay, and is one of the most successful ways to engage with your audience.

Work Hard on Your Content

Brand awareness is not only based on the amount of content that you share, but the quality of it. In order to increase brand awareness through your social media, your content must be interesting and useful. Whether it’s a video or a blog, your content must catch your audience’s attention, that is the only way to create engagement and therefore awareness.

Keep your content relevant, search for the latest news or topics and adjust those that are relevant to your brand in order to follow the trend. Include images in your content, visual posts have generally a higher impact across any channel since are easier to catch by the eye while scrolling down the platform. Considering Corporate Social Responsibility content, more and more people prefer brands that have a social responsibility program, either giving back to the community, volunteering or donations. If your brand offers any type of social program, make sure you include it in your social media content.

The above are just some of the actions to take into consideration when preparing your social media marketing to increase your brand awareness. If you have any questions about this or any other topic or you need help to scale your brand and you are spending over $500 a day.

Do not hesitate to book a call below:

https://dimniko.com/msp-apply

See you next time 😉

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How to Improve Your Customer Feedback Score (Tips from a Facebook Rep)!

DimNiko - Facebook Feedback Score

As I’ve mentioned in one of my previous posts every page has its feedback score. It is based on the surveys that Facebook sends out to your customers several weeks after they purchase your product.

What can we do in order to improve the page score? This is the question I asked one Facebook representative recently and here is what she answered.

Be Absolutely Transparent with Your Customers

What does this mean?

For example, if you are having some issues with the delivery or stock, it’s very important to write it on the website. It is also very good to send out email updates even if the product hasn’t been delivered yet. Something like: “We know you’re still waiting, but here are some tutorials or videos about the product.” If you know approximately the shipping dates, add them as well. If you don’t, highlight that you’re doing everything you can so they get the product as fast as possible.

These constant news will help the customer understand the situation and be less angry about the delays.

Be Super Responsive on Customer Support

Being responsive on customer support will allow your customer’s questions to be answered quickly and nothing is left unanswered. A customer feels much more safe if he can address any concerns regarding the product to the customer support and get a real answer.

Do NOT Overpromise

Do not overpromise your product or offer to your customers. Be truthful on the quality, effects, and how long it takes to work.

Let me explain what is meant here. For example, you are selling a product that helps lose weight or grow muscles. This obviously doesn’t happen in the first 2-3 days after the product is delivered. It takes time to achieve the goal even using your product. So it is very important to highlight this in the ad and on the website. In this case the customer won’t treat your product as a magic wand and won’t be angry after the first week using it.

All these points will influence your customer’s attitude to your product and page. And whenever they get a survey, they will be more positive about your brand. Even if they still haven’t got it! But they know the exact dates when it’s going to arrive and that it takes time to get there.

If you’re spending over $500 a day and want to know other tips we use

Book a call below:

https://dimniko.com/msp-apply

Thanks!
Maryana from DimNiko 🙂

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Facebook Ad Vs Google Ad: Which is Better?

DimNiko - Facebook vs Google

Is it better to advertise on Google or Facebook? And what is the difference between Google ads and Facebook ads and why do some brands choose Google, others choose Facebook and some choose both. Firstly to determine which is better Facebook ads or Google Ads, we need to understand the difference between Google Ads and Facebook Ads.

Google Ads

Google Ads are a search based platform showing ads based on Keywords. Meaning ads are shown to people looking for specific items or very closely related items to the search. If you are actually searching on google for ‘blue light blocking glasses’ you will see ads related to blue light blocking glasses. Google ads are shown to people that are already intending to buy or looking for items. So the ads are usually very relevant to the search.

Read More: Facebook Ads & Google Analytics Reporting Discrepancies

Facebook Ads

Facebook Ads are different. They work on the method called interruption marketing. Meaning the ad is actually interrupting your social media time as you are not on the platform actively looking for items. Facebook holds a lot of data on its users, and advertisers utilise that data to show you ads related to what you are interested in.

If you have recently been browsing websites or doing research on blue light blocking glasses, Facebook gets access to that data and therefore the advertisers target interests similar to what you are searching and that is how ads related to what you are searching for show up on your Facebook feed.

There are Positives and Negatives to Both Platforms So Let’s Dive into Facebook Ads vs Google Ads.

Google Ads are very specific to what someone is searching for so typically they will have a higher return on ad spend compared to Facebook Ads as the ad will only show up if people are searching for specific keywords. Google Ads are great for very specific or niched products that have low competition. A negative of Google Ads is that you have a limited budget as there are only so many people at one time actually actively searching for your related keywords you are advertising for. Another negative is you can only convey your product or service with words on Google.

Facebook has a much larger potential buyer pool. Meaning you can have much larger budgets on Facebook and acquire many more customers compared to Google. But typically Facebook Ads will have a lower return on ad spend compared to Google Ads. Facebook allows you to show images and videos so you are able to showcase your brand much easier compared to Google. You can show customers using your products, how the product works and even show your brand message.

So ultimately is it better to advertise on Facebook than Google Ads?

95% of eCommerce brands are better to be using Facebook Ads and only a small percentage of brands are better off on Google Ads. But there is merit to running both platforms at the same time. If you are looking to scale a brand to higher levels of spend, revenue and profits Facebook is the way to do that. If you are looking for higher returns on every dollar spent with lower ad budgets use Google Ads.

If you want help scaling your brand with Facebook Ads make sure to book a call with our team and we can show you what opportunities you are missing & how to grow the brand.

https://dimniko.com/msp-apply

Good luck out there,

Dan (Head of Partnerships at DimNiko)

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How Having a Large Number of Likes on Your Page Can Have a Negative Impact on Marketing Performance

DimNiko - Facebook Page Likes

First question, does growing your social community still matter? The short answer is yes, to a degree! Great! So what now?

Marketing plays a huge role in media buying and for one to compliment the other, certain facts need to be considered. In the past, the more page likes you had on your Facebook or Instagram page, the more legitimate your business seems to be. This also led to increased organic engagement on your page which led to more likes. The reliance on the perception of the legitimacy of your Facebook and Instagram page meant that this was the main goal for many businesses. However social media marketing has evolved over the years and businesses started popping up to fulfill these needs, this caused a surge in illegitimate Facebook likes, or Instagram followers that could be purchased which many brands happily did.

Read more: How to Use a Facebook Group to Grow Your Business

Those metrics of Facebook likes or Instagram follows aren’t as important today, especially when those metrics compete for finite amounts of space and budget. AKA your own ads. But this can start to work against you, because consumers have started to validate the brand by their amount of likes, but not in the way you think. There are many more social proof signals that need to be met for a potential customer to trust your brand.

This biggest factor, your page likes vs your organic engagement, for example. Like if you have more than 50k likes on your page but only get about 50 or 60 likes on your post and 5 comments on average. The customer will think that something is up, when they quickly check your page when they see an ad… Well…atleast I do.

In recent times, Facebook algorithm has tanked the organic reach of normal page posts, this is an important factor to consider. This is due to the competition for space in the news feed, which has rapidly increased as the user base grew. So far, this means that at the moment, a low percentage of your community is selected to see your post. And those who have been selected by the algorithm, have to compete against a news feed that favors ads and their friend’s posts. This can get frustrating, from what I explained above “this makes your brand seem fake” due to the balance between organic engagement and the total likes/follows. It’s not as prominent on Instagram, but we’re focusing on Facebook for now, because many company pages look like graveyards.

Read more: Facebook VS Instagram, What is best for your business?

Page likes don’t really matter as they used to, this might seem a bit harsh, but this is the reality that we live in. The sweet spot is, finding that balance where the organic engagement can compliment the total amount of likes, in order to seem more legitimate to those users who check and care. Less might mean more in this case. Lowering the total amount of likes from “dead” facebook pages, inactive users are those who don’t fall under your demographic, is a good start. This will get you to the point where the discrepancy between your engagement and total likes gets less. You want this.

Encourage your community to engage with your post, and come back weekly or daily to check out the latest deal or next giveaway, you can get creative here. Like Boosted posts – that’s what they are there for, unfortunately, because you’re competing for newsfeed space. You’ll need to pay for that, because at the end of the day, your phone is a little portable billboard. From here when your community has reached that level which might mean smaller, you can restart your community growth as you continue to grow your brand on the business and advertising side. But this only works if you have the right agency partnered with you!

If you are spending over $500 a day and you want to scale your brand

Book a call below:

https://dimniko.com/msp-apply

And that’s a wrap!

I’m Quintin, Media Buyer at DimNiko

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What Columns to Look at for Ads Manager Reporting

DimNiko - Facebook Ads Reporting

Hi All, Monika here the lead media buyer at DimNiko Agency.

Today I’d like to share with you how I like to set up the reporting tabs in Ads Manager, so when I check several ad accounts I can quickly understand the most important data and identify the key indicators that need attention.

The Basic Columns

In the first couple of tabs I like seeing the basic information, such as Campaign /Adset / Ad Name, Errors, Bid Strategy, Last Significant Edit, so I know what the default settings are. All this followed by the Budget, Amount Spent, Results, Cost per Result, ROAS, Website purchases (often the same as results in ecom) and Purchase conversion value, which instantly gives me an idea of what is the current performance.

I usually check today/ last 7 days/ last 14 days and last 30 days data when analysing the recent performance. Comparing each of them to the previous periods. I love Facebook onsite comparing features. It really helps finding a specific metric that might cause an overall drop or increase in the ad account performance. When I do a larger audit on an ad account I compare results on quarter to quarter and year on year basis, together with the Shopify metrics as well so I can get a better perspective of the business and the Paid Traffic.

Traffic and CPA Columns

After the basic performance metrics, I will look more deeply into the traffic and what actually determined the CPA. Impression, Reach and Frequency is going to indicate how the ad is being served to the selected audience. This is getting more and more important over time.

For example if you are running the same campaign for months it’s useful to check these numbers on a month view compared to a last 6 months view. However higher frequency is not always bad. In fact for retargeting campaigns we often see better results on higher frequency, but it’s a metric that needs to be closely monitored.

Not just for choosing the right audience, but to understand how your ads attract the right prospects. If your audiences keep clicking your ads but are not moving down the sales funnel then your ad message needs to be adjusted.

Read More: Facebook Ads & Google Analytics Reporting Discrepancies

Performance Columns

The next metrics I will be looking at are:
– The CPM, which will show how much we are paying for 1000 impressions,
– CTR (link clicks) which will show what percentage of those impressions got clicked at.
– Then the CPC (link click) which will show how much that click cost us.

In ecommerce these metrics or changes in these metrics does not always predict the performance on a sales level, as expensive clicks can bring more sales and cheap clicks can come out more expensive with no sales. However, looking at the data is still important to identify if something is wrong or see whether there is an opportunity for improvement.

Content Specific Columns

After the Traffic specific tabs I will look at the Content views, Cost of Content view, Unique Content view, and cost of unique content view, and the same for Add to carts and Initiated checkouts. To make it easier to compare I often have a tab here for Cost or purchase and unique purchases, cost of unique purchases.

I think analysing the data from step to step in the customer journey can help fine tuning the sales funnel and improve customer experience along the way.

In the end of my ads manager reporting I will add Ad and video specific metrics such Relevance Core, Quality, Engagement, Conversion Rate Rankings, Cost per Post Engagement, Thruplays, Video Play per 25%, 50%, 75%, 96% and Cost of Thruplay. Checking these metrics on ad level is probably the most useful, however looking on campaign and adset level still gives valuable insights.

I hope you enjoyed reading about my way of setting up reporting tabs in Ads Manager, which is very useful in my opinion if you run ads for ecommerce businesses with conversion campaign objectives.

If you’re spending over $500 a day and want to scale your brand
Book a call below:
https://dimniko.com/msp-apply

Cheers,
Monika

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Benefits of Facebook Advertising

DimNIko - FB Ad Success

Facebook became a powerful advertising platform in recent years. Many small and big companies are growing tremendously using the advantages of facebook advertising. And also many companies are dying and losing money every day, because they don’t have a proper knowledge about how Facebook ads work.

There are many gurus online who will teach you how to create successful campaigns that will make thousands of revenue in just a few days. They had some success when the ecom craziness appeared near 2015 and seduced many young and old online entrepreneurs. Some of them are running great brands today, selling thousands of products everyday. And some of them decided to continue as online teachers and educators, as this is their best bang for their buck.

In recent years Facebook changed a lot. They are growing big that is for sure, but they are also taking care of their customers. There are many benefits of Facebook advertising but if you are not prepared to lose some money at the beginning for testing and learning, then you will not succeed.

Read More: Do Your Ads Actually Speak to Your Target Audience?

So Is It Worth Advertising on Facebook?

Yes it is.

There are many advantages of using Facebook for marketing in your company. Proper strategy will help you to sell more of your products or services. It will also help you to get followers on different social media platforms, if you re-engage with them after you show them your ads.

We got asked almost everyday if facebook advertising is still effective. For sure it’s not so easy as back in 2015, where you can pop up whatever product on a feed and there will be many hungry buyers who will buy it. As the whole advertising game changed a lot in recent years because of many fake businesses and products, companies who want to market on Facebook today need to come up with a detailed strategy and creative plan.

As many online marketers in the past took advantage of their platform and started to promote bad quality China products with long shipping terms, buyers started to complain on Facebook about inappropriate videos, product quality and long shipping times. They also started to complain about the quantity of ads they saw everyday in their news feeds.

So Facebook started to ban accounts and companies who were not shipping fast, were using stolen or branded creatives, and in general were not selling under Facebook advertising terms. This term became very strict in 2020 and many companies are struggling with their advertising accounts to not being banned.

Read More: Factors Influencing the Cost of Facebook Ads

Sometimes just a little mistake in ad copy can get you out of Facebook advertising platform.

So the answer to all you who are still thinking if the Facebook ads are worth jumping on it in 2020, is – hell-yea. With the right mindset, plan of action and the right experts behind your back, you can grow your company exponentially in a very short period of time.

For sure you must be careful what and how you advertise, what creative you upload and how your website is made, but in general if you pay attention to Facebook advertising terms which sometimes can be little ‘unrealistic’, you’re on a good path and you can make some crazy scaling.

But of course there are also companies that don’t want to advertise on Facebook. The biggest reason why you or your company should not be on facebook is still privacy. Many people and businesses are afraid to show their faces, or to share private moments.

But as our technology and society evolves very fast, privacy is something we should take into consideration as good and bad at the same time.

If you’re hiding something or you’re not prepared for the consequences, for sure it can harm your life or business. But if you’re well educated and prepared, transparency about your life and business can bring so much more from the promotional point of view.

Let’s make an example: Business owner of a small company shares funny photos of his family while they took a road trip on the company’s Facebook page. Followers of his brand see them and engage with him personally.

You think his company would sell less or more during the engagement time on Facebook? Depends on the product but in 99% the answer will be yes. We’ve seen it so many times and we believe your business strategy in 2020 should include some kind of ‘human engagement’ on Facebook. With ads or without. Depends how much ‘more’ you want to sell.

With the help of Facebook algorithm learning machine, called Facebook pixel, you can sell a lot more after you leave this pixel to optimize and learn about your customers.

And you can put all your followers and engagers into small buckets, from where you can then remarket them with special ads. Depending on the journey they went with you, you can make so many combinations as no other advertising platform can. And that is really powerful.

If you don’t know how to start and plan the right strategy, contact us and we’ll be glad to help you. Also if you’re already spending 5 or 10k per day, we can make your ROAS even higher.

We overview 2MM of monthly spend through different accounts and we know a thing or two about Facebook. At the end of the day what is important is the advertising partner, who will listen, execute and help you to grow your business exponentially.

Book a call with us below:
https://dimniko.com/msp-apply

We can make things happen.

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Facebook Conversion vs Value Optimization Ad Delivery

DimNiko - Conversion vs. Value Optimization

Today I’d like to share with you a piece of strategy that I’ve been testing the past week. It might be too early to make any assumptions and each business is different but could be worth a try. I started testing the optimization ad delivery conversion vs value again, last time I tested this, it wasn’t successful but now I see better results.

How to Set Up

So here is the deal: 4 testing campaigns in total – but surely you can add more. Two campaigns for the top of the funnel including the same 3 to 5 ad sets, Lookalikes and broad interests. It’s up to you what type of audiences you’d like to add, it can be only Lookalikes if you prefer.

One of the campaigns is set to optimizing for conversion and the other for value – the only difference is that the campaign which is optimizing for value will be switched to value-based lookalikes. As a side note, soon anyway it will be obligatory to use only value-based lookalikes with value optimization. The daily budget shouldn’t be more than twice your CPA (the product I am testing is a low ticket item so I didn’t have to spend much).

Once the winning campaigns are found for the top of the funnel you can start scaling them. Two campaigns for retargeting as well and the same strategy applies. The audiences you’d like to retarget should be segmented in 3 to 5 ad sets as per your preference and one campaign should be set for conversion optimization and the other for value optimization.

Note: these campaigns should be tested with proven creatives!

Read More: Factors Influencing The Cost of Facebook Ads

What Were the Results?

The results I got so far based on the optimization event is the following: Top of the funnel value optimization didn’t show good results yet CTRs are low and cost per add to cart is double compared to the conversion campaign.

On retargeting however, the value optimization shows better results compared to the conversion. If you have tested this recently let us know what were the results you’ve got and if you are going to implement it – we would love to hear what was the outcome.

Read More: How Facebook Ads Split Testing Works

If you are spending over $500 a day and want to scale your brand.

Book a call below:
https://dimniko.com/msp-apply

Have a Great Day!
Ago,

Posted on

Factors Influencing The Cost Of Facebook Ads

DimNiko - Ad Cost

Facebook has become one of the main platforms that businesses consider when preparing their advertising strategy. But most business owners probably ask themselves the question, “What is the cost of Facebook Ads?”. The reality is that there are many factors that influence your Facebook advertising cost. Among them are the bidding model, the target audience, the placement, and the ad quality and relevance.

Let’s review some of the top factors to consider when it comes to the cost of Facebook Ads.

The Bidding Model

When it comes to the bid strategy, Facebook offers a few options that will basically be divided between automatic or manual. Those options are: Highest value or lowest cost, cost cap, target cost or bid cap. There is not a universal bid strategy that works for every type of business, but understanding the bid model that works best for your campaigns will determine your ad delivery and its cost.

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The Target Audience

One of the main factors that will increase the cost of your campaigns is related to the audience you are trying to reach. If there are many other advertisers targeting the same audience, your cost will raise as the ad space is limited. It is recommended to create a specific audience rather than targeting a very broad one. Testing different audiences will help you understand which ones are the right audiences for your brand.

Placements

There are many placements to choose from, Facebook and Instagram news feed, stories, Audience Network, Messenger… Facebook’s recommendation is to select automatic placements, which means advertising in all of them, and by doing so the cost per result will lower. However, it is highly recommended to do an analysis to understand which are the placements that perform best for your campaigns. By avoiding those placements that do not bring you any conversions, you will avoid extra costs.

The Ad Quality and Relevance

The quality and relevance of your ad will most definitely have an effect on the cost. Your ad relevance will be rated with a score from 1 to 10, being 10 the highest possible score. Facebook will give a relevance score based on the positive or negative ad feedback your ad receives. It is extremely important to create ads that are relevant to your audience. Facebook will show your ads more than those with a lower relevance score, therefore you will pay less to reach more of your audience. There are other factors that will also affect the general cost of your Facebook ads.

For example, you should also take into consideration the time of the year, there are periods of time where the competition will be much higher. Black Friday and Cyber Monday, Christmas, Thanksgiving…  During the holiday seasons in general your cost will be higher because of high competition.

As well as the industry you are in, to name a couple finance or insurance are two with the highest advertising cost. By taking all of the above into consideration and testing the different options that Facebook provides to advertisers you will be able to lower your total cost.

And if you have any questions about this or any other topic or you need help to scale your brand and you are spending over $500 a day. Do not hesitate to book a call below:

https://dimniko.com/msp-apply

See you next time 😉