Facebook Ad Spend and Diversification Tracking Improve Campaign Performance
Posted: Tue Dec 17, 2024 5:30 am
While attribution has never been precisely trackable, recent iOS changes have made it more difficult, so we need to monitor our spend even more closely. This article explains what advertisers with small and medium-sized ad budgets should pay more attention to.
Small advertisers should focus on Marketing Effectiveness middle east mobile number list Ratio (MER) rather than Return on Advertising Spend (ROAS). MER is a holistic view comparing total revenue to total marketing spend across all channels.
Continue to track what you can with the Facebook pixel and available tools, but understand that you are only developing a relative understanding. You are going to make overall spending decisions based on what leads or purchases are being scored by each channel. Large advertisers are already looking at a more general MER versus ROAS per channel.
Additionally, Facebook ad costs are rising due to loss of tracking and competition. This could push out some lower-margin products or smaller businesses that have a smaller overall marketing budget.
But there are a few things companies can do to make the most of Facebook :
Test more targeted than ever before. Use ad set budget campaigns to control your tests and know exactly what to do to make a profit. Test placements, images, and copy more thoroughly.
Think about what the long-term prospects are for attracting a customer or buyer to your business? Does someone buy from you multiple times? If not, how can you ensure that the customer lifetime value or average order value increases?
Segment your internal tracking so you can truly understand where your leads and sales are coming from. Implement a tagging system so you know where customers are coming from if they don’t buy right away.
Try different approaches to targeting. Keep in mind that in some cases, broader audiences work better, while in others, very specific and narrow segments work better.
Facebook marketing is here to stay for the foreseeable future, but companies that test advertising tools and diversify budgets now will be the winners of the future.
Small advertisers should focus on Marketing Effectiveness middle east mobile number list Ratio (MER) rather than Return on Advertising Spend (ROAS). MER is a holistic view comparing total revenue to total marketing spend across all channels.
Continue to track what you can with the Facebook pixel and available tools, but understand that you are only developing a relative understanding. You are going to make overall spending decisions based on what leads or purchases are being scored by each channel. Large advertisers are already looking at a more general MER versus ROAS per channel.
Additionally, Facebook ad costs are rising due to loss of tracking and competition. This could push out some lower-margin products or smaller businesses that have a smaller overall marketing budget.
But there are a few things companies can do to make the most of Facebook :
Test more targeted than ever before. Use ad set budget campaigns to control your tests and know exactly what to do to make a profit. Test placements, images, and copy more thoroughly.
Think about what the long-term prospects are for attracting a customer or buyer to your business? Does someone buy from you multiple times? If not, how can you ensure that the customer lifetime value or average order value increases?
Segment your internal tracking so you can truly understand where your leads and sales are coming from. Implement a tagging system so you know where customers are coming from if they don’t buy right away.
Try different approaches to targeting. Keep in mind that in some cases, broader audiences work better, while in others, very specific and narrow segments work better.
Facebook marketing is here to stay for the foreseeable future, but companies that test advertising tools and diversify budgets now will be the winners of the future.