How to monetize Facebook Ads and take advantage of it

I was looking at some Facebook Ads reports a few days ago and I was surprised at the amount I have spent on advertising on Facebook since I started using it (only with my brand and my personal projects, not counting my clients’ projects). A 4-digit number that is approaching 5th very quickly.

Image rights: Fotolia

I always say that we have to see advertising as an investment and not as an expense, and after doing some numbers I reaffirm this belief. And is that if you want to enhance your brand and grow your business , you will have to think about investing and dedicating a part of your monthly budget in different aspects.

After spending a good amount on Facebook Ads, I think I can explain to you what to do to make advertising on Facebook work.

In this article I am not going to explain how advertising works on Facebook, how to create an ad or how to get more likes on your fan page. No. The truth is that there are already many articles that have talked about it, and the Facebook platform itself has a great guide that explains everything you need to know step by step.

I also recorded a video explaining how Facebook Ads works:

So my intention is to share with you how I do it to invest in Facebook Ads, what criteria I look at and how to keep increasing my daily budget more and more.

Table of Contents

  • Facebook Ads to move to the next level
  • Facebook Ads pricing
  • Facebook Ads Manager VS Facebook Power Editor
  • How to segment your Facebook ads
  • How to use Custom Audiences
  • Find out what your competition is doing
  • Why are certain Facebook ads showing to you?
  • Always use the Facebook pixel
  • Custom conversions
  • Take advantage of Facebook Ads reports
  • conclusion

Facebook Ads to move to the next level

Before I start explaining more, I want you to know that the only way to master Facebook Ads is by doing lots of tests. You’ll read a lot out there about what works or doesn’t work, and that’s fine, surely many of those articles are written under the expertise of their authors (or not), so my best recommendation at this point is to give it a try.

Facebook Ads pricing

In order to test, what you should do is start with a minimum daily budget . Focus on spending your first euro and making 2 euros profit. How simple is that?

It makes no sense to start with medium-high budgets because chances are you’re wasting that money. Start small and keep increasing that budget as you acquire benefits.

If we compare the prices of Facebook Ads with Google Adwords, we will see that both the generation of traffic and the capture of new leads is considerably cheaper with Facebook Ads.

To give you an example, I have carried out some lead capture campaigns in which each new user was obtained at a price of 0.02 euros. Yes, you read it right.

I have also created campaigns in which I have paid very low prices to attract high quality traffic.

Always remember that the key to success in Facebook Ads is segmentation, so if you can segment your campaigns to the maximum and reach the right audience, you will have hit the nail on the head with your ads.

Facebook Ads Manager VS Facebook Power Editor

Facebook Power Editor was the tool that Facebook itself made available to you so that you could manage your advertising in a more complete and professional way.

But for a few months, Facebook Power Editor has been unavailable.

You won’t need it either. I explain why:

The Facebook Power Editor has been integrated into the Facebook Ads Manager, and for that reason, you will no longer need it.

Everything you could do with Facebook Power Editor you can now do from the ad manager.

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How to segment your Facebook ads

Well, we have talked many times about the importance of segmentation and how easy it is for Facebook Ads to segment our ads with a laser pointer.

So the first thing we must be very clear about is who we want to show the ads to. Ideally you should already have your buyer persona (or avatars, as we want to call them) well defined. And if you haven’t done it yet, this is a good time to do it, because it will not only be useful for your Facebook Ads; it is an important part of any marketing strategy.

One of the main mistakes for not getting good results with advertising is not segmenting well; This causes you to show your advertising to those who should not see it, thereby reducing the CTR (click through rate) of your ad and also increasing its cost. It has all the sense of the world.

In order to segment well you have to know your audience, and with the Facebook Audience Insights tool you will be able to know more about it: age, gender, interests, status of your relationships, education, jobs, location and a long etc.

Facebook Audience Insights (“Audience Statistics” in Spanish) allows you to analyze your own fan page and the audiences you have previously created.

You can also learn more about your competition’s audience by analyzing it with this tool.

And if you are lucky that your audience is from the United States and you have the critical mass there to be able to analyze it with this tool (you need a minimum of fans), you will see that you will get much more data than what Facebook gives you in itself. other countries being able to create more segmented Facebook Ads campaigns.

How to use Custom Audiences

When you launch your first ad, the easiest thing is to segment your Facebook Ads campaign by interests, selecting which ones you think may be more related to your target audience, but the Facebook Ads platform allows you to curl the curl a little more. What’s more, to obtain good results I recommend you try segmenting through custom audiences.

You can do it using the target audience of your website or blog through a Custom Audience ( Website Custom Audience ), or create an audience similar to that audience, with which Facebook will search for users whose behavior, likes and interests are similar to those of your already created audience.

So showing your advertising to those people who are not yet fans of your page but who have already visited your website at some time can be a great idea.

These are the audiences that I usually show my Facebook ads:

  • To the fans of my fan page
  • To the similar audience created from my fan base
  • To the personalized audience obtained through the people who have visited my website
  • To the similar audience created based on the audience that has visited my website
  • To fans of other fan pages
  • To fans who have certain interests

Think that the more segmented your ad is, the more chances of success. Try to target a wide enough audience, because the wider the cheaper that advertising can get.

And as a second important point, I recommend creating ad sets for smaller segments. That is, if you are showing your ad to people who have visited a certain page of your website, try creating ad groups with different age ranges by sex.

Find out what your competition is doing

A practice that I recommend you carry out is to collect information about your competitors. I have a folder on my macbook pro that is overflowing with screenshots of ads created by the competition and that appear when I am browsing Facebook.

The grace of this practice is not only to capture images with the ads of others, but then analyze them in order to learn and test their techniques with your own ads.

Here you can see an example of one of the Facebook ads that have caught my attention lately:

Perfect, surely now you are wondering what is special about this ad?

First of all look at the text they have used; The word free (free in English) is usually a good claim in any ad. It sets a deadline as a factor of scarcity to incentivize the click at the moment and not leave it for later, and also, shorten the url with the landing page, thus ensuring that whoever sees the ad can click on both the url and the in the photo image, as in the descriptive text of the ad (which is also a link).

Secondly, if you analyze the image you see that there is a button that stands out with a call to action that encourages you to click on it, and plays with the contrast of 2 photos. A photo that in the background has the flag of UK and on the other hand, an image of a girl with a mobile. Including photos of people in your ads can be very effective.

And finally, the text of the announcement itself could not be better: call to action in square brackets + shortage factor indicating that the offer lasts until May 19 + button to call to action “buy now”. Sparkly!

Why are certain Facebook ads showing to you?

You have probably asked yourself this question before, and if not, you better start asking yourself.

And to answer this question, there is an option in Facebook promoted posts that tells you why a specific ad is being shown to you.

This information will also be very useful to know what your competition is doing.

As you can see in the following image taken from a sponsored Vimeo ad, you just have to unfold the arrow that appears in the upper right of the ad and select the option “Why am I seeing this” (in Spanish it will be something like Por why am I seeing this).

When opening this option, a new window appears with the explanation and answer:

In this case, the ad is shown to me because Vimeo has me in their customer database, and they have used a personalized customer audience (where I am) to show me that ad.

Always use the Facebook pixel

If you want to use Facebook Ads like a true professional, you cannot leave out the option of inserting the Facebook pixel on your landing page. (conversion tracking).

Once you have created an ad, Facebook allows you to insert a small code on your page which what it does is analyze the activity of Facebook users on your website. You just have to go to the Ads Manager, deploy all the tools and in “Event Manager” go to the “Pixels” section.

There you can create the famous Facebook Pixel, which you will have to install on all the pages where you want to control the activity.

Having the pixel installed is what also allows you to track conversions, create custom conversions and above all and the most important thing from my point of view: retargeting.

Watch the following video in which I tell you about the Facebook Pixel, how to use and install it, and something much better: the Power Pixel.

Custom conversions

By inserting the Facebook pixel you can create custom conversions …

With them you have exact information about the conversion rate of your advertising, and it helps you to know if your Facebook Ads are meeting the goals you have set for yourself.

For example, if what you want is to analyze how many people have signed up for your newsletter, how many people have registered on your website through your ad, or how many people have downloaded something -for example, a guide or ebook- using This tracking pixel will know the performance of your ad.

You will only have to insert it in the final page of the process that the user is doing (usually the “thank you” page).

The same if we want to control the number of people who have bought a product after having seen one of our ads.

Take advantage of Facebook Ads reports

The reports section is one of the sections that will most help you draw conclusions about your ads and that will allow you to know what results you are obtaining.

It’s funny because a person who really succeeds with Facebook Ads is recognized if they master this section.

When you turn your ad manager into a test bench, you will have to start digging into the data that this tool offers you.

To give you an example, thanks to this tool recently I was able to check one of the theories that I had about Facebook Ads.

Theory in which I believe that the advertising we create with the aim of achieving conversions is not always the one that gets the most conversions. Theoretically, Facebook, when you set a goal for conversion what it does is optimize that ad so that the conversion comes out to you as cheaply as possible. But I realized that sometimes, with the same ad and the same segmentation, if you use it with the aim of getting traffic to a web page instead of getting conversions, the resulting conversion is cheaper.

Whatever action you take with your ads, however small, it is best to measure what their impact has been.

The best thing about Facebook advertising reports is being able to export all the data to a csv or xls file and treat it from Excel, for example.

Another interesting function is to program reports so that they are generated with a certain regularity (daily, weekly or monthly) and that they arrive at the email address you indicate.

Within the reports, one piece of information that I recommend following is the Relevance Score for each ad. It is a value that goes from 0 to 10, and that tells you how relevant your ad is to the audience you are showing it to. The higher the relevance of the ad, the cheaper it will be for you.

advice

To make your conversions as cheap as possible, aim to achieve these 3 points:

  • Segment your ad audience as much as possible and try to make it as wide as possible
  • Optimize your ad so the CTR is the higher the better
  • Finally, the page that you show to people who click on the ad must also be highly optimized. If the page doesn’t convert, the price of the ad will go up. So it is recommended that you make use of a landing page and measure the conversion on it.

I also recommend watching the following video in which I explain the mistakes you should not make with your Facebook Ads:

conclusion

After having done a thousand and one tests with Facebook Ads, I keep saying that it is one of the most affordable ways that a business has to reach its target audience, and that makes me love this platform.

And it is that advertising on Facebook is much more than getting likes on a fan page or promoting a publication with the Boost button (please! Never do it or you will be throwing your money away).

So the best thing you can do is try and keep testing, trying to find out what impact the small modifications you have had on your ads and constantly measuring, comparing and drawing conclusions.

This is my experience; I encourage you to share yours.

 

by Abdullah Sam
I’m a teacher, researcher and writer. I write about study subjects to improve the learning of college and university students. I write top Quality study notes Mostly, Tech, Games, Education, And Solutions/Tips and Tricks. I am a person who helps students to acquire knowledge, competence or virtue.

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