Don’t spend more. Instead, spend smarter. If you are experiencing less than stellar Facebook ad analytics, rather than simply create additional ads, examine why your current ads are not achieving the desired results.
Social Media Examiner offers several tips for your Facebook Ads. Check out these three tips for efficient spending decisions on your Facebook Ads:
#1 Check tracking.
Before becoming concerned over unforeseen or negative data analytics, be sure your Facebook ad campaigns are accurately tracking the activity. For example, check to make sure pages and ads are properly tagged.
Similarly, look over your Facebook Pixel settings. If the listed setting contains a green circle icon with a checkmark inside, this is a good indicator that the setting is working properly.
If there is no such icon or if the checkmark icon is colored with yellow or red, something is off and the ad setting not working correctly.
#2 Focus on fruitful target audiences.
Conversion rate is telling. For most companies, the goal of any ad campaign is to gain customers, or at the very least, leads. Thus, if your Facebook ad does not achieve a positive conversion rate, you may want to consider who your ad targets.
Determining the appropriate target audience goes hand-in-hand with conversion rate. Zeroing in on target audience will aid in overall conversion rate.
#3 Frame your content.
If you have determined your target audience, make sure your ad content appropriately frames the subject, so that your message is displayed in a meaningful way to the target audience.
Even if the target audience would benefit from and be attracted to your product, the content must be conveyed in a relatable, understandable way.
This rule also applies to format. Be sure to choose the appropriate Facebook Ad format. You may need to experiment with these formats to determine which your audience responds most favorably to. Note that Facebook offers a variety of formats, including images, videos, and text.