Or you get a MASSIVE ROAS but cannot sustain it?
STOP your ad spend and don’t give any more free money to Facebook if you are not seeing results.
Don’t worry. There is ALWAYS a solution to EVERY problem. We just have to size it up and break it down in to smaller pieces! 😄
Before we throw in the towel and say it doesn’t work anymore or say that it’s simply dead, let’s first try to understand how the black box that is Facebook Ads works.
How does Facebook work?
In Statistics 101, we learn that a larger sample size means a more confident assertion of a statement.
A simple way to put this concept is how confident you feel about these two Review ratings of a product:
Even though Scenario A appears to be of a higher rating, you can naturally tell that Scenario B is far more accurate than that of A.
Relating this to Facebook Ads, sometimes, when we see a massively high ROAS on a low budget spend, this could often be like Scenario A. Likewise, if we invert the situation, a low budget spend could also show a very low ROAS, and we can’t be certain that it isn’t performing.
This is a common problem with a small sample size. When your ad spend is low, the sample size is small, since Facebook shows your Ads to fewer people, fewer times than with a larger ad spend.
Now does this mean you have to spend more if you want sales? The answer is a resounding NO, unless you have optimised everything else!
How to optimise your Facebook Ads?
While improving your confidence (or sample size, N in statistics) can improve stability of your results in overall, every dollar spent to increase N could either bring you an ROI or a loss.
Not only that, Facebook Ads Manager is a powerful tool that allows you to build a funnel just WITHIN Facebook.
From cold to retargeting, there are a large number of parameters you can tweak, such as interests, demographics, events performed on your site or in Facebook, placement etc. Every toggle has to be tested and optimised to ensure you’re not spending aimlessly.
This is why it is paramount to ensure that you have a strong funnel from start to end with fully optimised creatives and copies from the first time a prospect sees your ad, to the point of sales on your website. ONLY when you have a funnel like that should you begin to spend on Ads. Even so, it is important to do so conservatively.
Beyond Facebook Ads
Have you ever clicked on low quality ads which redirect you a dozen times to websites you didn’t think the ad was about? e.g. a car sale that brings you to a hair loss product, or a xx ad that leads you to home insurance?
We have to be consistent.
What we show on our ads have to send the same message across the different steps in the funnel.
While many would argue showing the same product is enough, we recommend showing the same message across different steps in the funnel. i.e. an ad showing a time-saving handheld vacuum goes on to land you on a page that advertises how much time this revolutionary vacuum saves.
Every funnel is different
Choose your funnel strategy wisely and it will skyrocket your sales.
At Graviteight, we focus on helping you build a solid funnel from the first time a prospect sees your ads until the day they convert. And even more beyond that!
