If you are already doing Facebook Ads, you know results do not come easily. With over 6 million advertisers on the platform, the competition is fierce. The last thing you want is to spend a lot of money on Facebook Ads only to experience poor ROI. There are several reasons as to why for achieving growth goals, Facebook can be challenging.\n\n\n\nFor starters,\nthere\u2019s the dreaded ad fatigue that causes users to tune out and ignore your\nads. Then there\u2019s the poor objective and ad targeting. Your bidding strategy\ncould also harm your advertising ROI no matter how large your budget is. \n\n\n\nFortunately,\nit\u2019s not all doom and gloom. When you understand how to optimize Facebook Ads,\nyou will improve your results for each of your target metrics. This guide will\nshow you how to take your Facebook campaigns to the next level to drive real\ngrowth and optimizations that you can take up in your campaigns. \n\n\n\nA\/B Test\nYour Campaign Objectives To Achieve Your Advertising Goals\n\n\n\nIt goes without\nsaying that setting the right objectives is crucial to the success of your\nFacebook campaigns. The wrong objectives will not give you the results you are\nlooking for and chances are high that your campaign will flop. \n\n\n\nSo, out of the several\ncampaign objectives, how do you choose the right one? \n\n\n\n\n\n\n\nTable 1: Facebook Marketing Objectives\n\n\n\nThe solution is\nto create multiple ad campaigns and A\/B test each objective. A good practice is\nto test for brand awareness, site traffic and leads to help you identify which one\nof these objectives deliver a better return on investment. \n\n\n\nThis is an important step because the cost of\ntraffic generated through each of the campaign objectives may differ. So, you\nwant to check which objective generates traffic at the most efficient cost. In\nmany cases, a Website Traffic objective works better for a Conversion campaign\nthan Conversion Campaigns themselves, provided the targeting is right and sharp\nenough.\n\n\n\n\n\n\n\nFacebook Campaign Structure (Source)\n\n\n\nTesting is the\nonly way to identify the objectives that can help achieve your advertising\ngoals whether you are looking to raise awareness, generate leads, or boost\nconversions.\n\n\n\nNarrow Your\nTarget Audience For Maximum ROI\n\n\n\nIt\u2019s a no-brainer that if you want to\nget a good bang for your buck, your ad campaigns must target the right people. Facebook\ntargeting goes deeper than just creating buyer personas and using basic\ncriteria such as age, demographics, gender, location, and language to segment\nyour audience. \n\n\n\nTo achieve your campaign goals and\nrealize maximum ROI, you need to hyper-segment your audience into very specific\nniches.\n\n\n\nLaser targeting your audience is\nimportant for your cost per click (CPC) rates and click-through rates (CTR) too.\nBy targeting very specific audiences, the CTR for your ads will be more refined\nand you will be able to keep the CPC costs reasonably low. \n\n\n\nFacebook lets you narrow down your\naudience based on their interests. You can include additional layers of\nsub-interests under the initial interest option to target the exact group of\npeople that will respond positively to your ad message. \n\n\n\n\n\n\n\nThe opposite strategy also works.\nInstead of including people with certain interests, you can exclude certain\naudiences from your target group.\n\n\n\nLaser targeting\nyour ads can help you overcome a common phenomenon that afflicts social media\nmarketing\u2014ad fatigue.\n\n\n\nOnce you narrow\ndown your target audience, be sure to personalize or customize your ad\ncreatives to appeal to the different audience groups. Different groups of\npeople relate differently to the same product being advertised and your ad\ncreatives need to reflect this. \n\n\n\nTo avoid ad fatigue, the best practice is to change\nthe ad creative for each target group after about 2.5 to 4 weeks. Showing the\nsame ad repeatedly to the same group of people will diminish conversion rates and\ncost you money. This also is known to better your campaign Conversion Rates as\nthe creative refresh is likely to get an interest of a new audience\naltogether. \n\n\n\nCreate Value-Based Look Alike Audiences \n\n\n\nWhat if your ads\ncould reach an additional number of people who resemble your high-value\ncustomers? You now can with the new Value-Based Lookalike Audiences. \n\n\n\nThe Value-Based\nLookalike Audiences is an advanced version of Lookalike Audiences. The new\nfeature lets you assign a value to customers based on their lifetime worth and\nthen Facebook uses this information to help you target people who closely\nresemble your best customers. This ensures that your ads reach people who are\nhighly likely to be loyal customers. \n\n\n\nTo complete the\nprocess successfully, you would need to determine how much each customer is\nworth. Consider using a customer lifetime value calculation software to\nautomate the process. \n\n\n\nTo get started\nbuilding the Value-Based Lookalike Audiences: \n\n\n\nHead\nover to your Audiences pageClick\nCreate Audience if you already have\naudiences If\nyou do not have audiences yet, first create a Custom Audience by clicking the\nrespective button \n\n\n\n\n\n\n\nIf you have an\naudience already, you have the option to Include LTV for a better performing\nlookalike audience. Click the Get\nStarted button.\n\n\n\n\n\n\n\nThe next steps\ninclude: \n\n\n\nAdding\nyour customers\u2019 fileSelecting\na value for each customer \n\n\n\n\n\n\n\nFinally to create a value-based\nLookalike Audience: \n\n\n\nHead over to your Audiences Select Create Audience\nand then Lookalike Audience Select the Custom Audience with a value column\nwhich will act as your source Select the country\nwhere you would like to find lookalike audiencesPick your target\naudience sizeClick Create Audience\n\n\n\n\n\n\n\nPro Tip: You can create more than one\nset of Lookalike Audiences to target \n\n\n\nIncrease\nWebsite Sales With The Facebook Pixel \n\n\n\nIf you are not yet retargeting, you are\nmissing a major opportunity to grab a low-lying fruit\u2014people who have already\ninteracted with your brand at one time or another. Creating retargeting or\ncustom audiences is yet another way to narrow your target audience. \n\n\n\nYou can set your campaigns to target\nprevious landing page visitors, those who abandon their shopping carts, past\nbuyers etc. To create a narrow group of audience for retargeting, you first\nneed to install the updated Facebook Pixel into your website. \n\n\n\n\n\n\n\nOnce installed, the Pixel tracks the\nvarious activities of your website visitors, allows you to create custom\naudiences for retargeting, and helps you track the effectiveness of ad\ncampaigns. Installing the\nPixel is only the first step. To increase website sales, you need to optimize\nyour retargeting ads for conversion. \n\n\n\nTo get started, determine\nthe type of event you want to track and optimize. Events are simply the\nactivities that visitors undertake on your website. These events can be\nstandard or you can customize them to your needs. Examples of standard events\ninclude page views, items added to a wish list, items added to the shopping\ncart, completion of a registration process etc. Custom events can be\npersonalized to your advertising goals, for example, video views, app installs,\npurchases etc. \n\n\n\nYou can use the\nRetargeting lists with the most specific action of your users to create an\naudience list of Similar users (Similar Audiences) & use it for your\ncampaigns. It\u2019s quite effective. \n\n\n\n\n\n\n\nTable 2: Types of Conversions\n\n\n\nThe Events\nManager on Facebook is a great tool for helping you check the events you should\noptimize for. Facebook recommends that you optimize your ads for events that\noccur at least 100 times a month without the help of ads.\n\n\n\nFor instance, if\nyou have 100 or more people abandoning the shopping cart each month, such an\nevent would be a suitable reference point for creating an ad to convert\nshopping cart abandoners into actual buyers.\n\n\n\nBy tracking\nevents on your website, you can optimize your Facebook Ads to increase the conversion\nrates of events that are close to your business goals. \n\n\n\n****** \n\n\n\nKnowing how to optimize Facebook Ads is a crucial part of any social media marketing strategy worth its salt. To realize growth and experience significant results, you must scratch below the surface, target a highly specific audience, adopt a strategic bidding strategy, and optimize for the right pixel events.