Increasing your ROI should be one of your online income strategies when you are starting out. Be sure to keep in mind these 7 lessons.
1. Re-marketing or re-targeting ads should be a top priority
If you are an established seller/affiliate or already growing your online income strategy and have thousands of people visiting your site already, you should definitely consider remarketing. Remember that ad you have seen the 100th time on TV or heard on the radio? Hasn’t it convinced or at least opened your mind to the company or the product you are hearing/watching about? That is the basics of remarketing. Conversions do not happen instantly and most mid-level conversions happen when seen for the 3rd to 5th time; for me at least.
In order to build your growing online income, setting up a remarketing campaign on Facebook to target the people who already know you exist is the first and most important step. This should be the top type of Facebook ad you run if you already have a growing online income strategy.
Retargeted people gives you the audience that is most likely to purchase. To implement, you need to add the Facebook pixel to your site and then set up a custom audience.”
2. A lookalike used is a dollar saved
What is a lookalike? Facebook has this thing called a “lookalike” audience.
For example, you have the ability to create a pixel that captures all the users on your site you have added a product to their cart and have not checked out. Also known as cart abandonment.
In this case, you can create a lookalike audience where Facebook will find Facebook users who look like the users on your site that have abandoned their cart. This allows you to gain new exposure to people who look like the people who are already visiting your site and were interested just enough to add a product or two to their cart.
3. Engage people, talk with people, not at people
Get people to engage with you not at you. These people are your potential ROI. Use social media for social purposes and grow your network. Target other competitor networks and grow with their audiences. Start a conversation. Make a sale. And grow your partners. Imagine you are walking into a party, only the party is someone’s Facebook feed. Don’t attack them with an aggressive message, instead give them tiny bits of information that will keep them engaged and start a conversation. Flirt. Be human in your text and captions.
4. Engage in trending topics
Stay on top of trending topics until it is relevant to your product or brand. Trying to engage a trending topic for the sake of doing so when it doesn’t make sense can also be a poor representation of your brand and goes against tip 3 about staying in an authentic human conversation.
5. Watch your frequency
Your magic number is 5. Once you hit a frequency of 5, your cost per click and actual results will begin to decline as users tune out your ads, thus decreasing your relevancy score.
6. Relevance score will save you cash
Relevance score is a number between 1-10 that is determined by how much positive and negative feedback you get from an ad. When your ads have a relevance score of 10, it means Facebook users are finding your ad relevant, and thus, making Facebook more relevant. Facebook rewards advertisers with reduced bidding when this happens. Bottom line… keep trying for that 10.
The way to keep your ad relevancy score high is by considering your audience, the time and platform that you are placing your ad bids on and the content you are using. One thing to keep in mind is that you want to be specific with your audience. Don’t be afraid to use the exclusion option. You can exclude a specific segment of an audience to make your ad more relevant. For example, you can select to target all women in a specific geographic area between the ages of 20 to 40 and exclude women who are between 29 to 31. The more you match your content to your audience, the higher chance you have at getting a good relevancy score.
7. Facebook will take your money if you don’t know what you are doing
Optimise, optimise and optimise. When you have lack of money, optimisation is key. When you earn some, spend more. But not blindly.
By default, Facebook will run your ads across their entire network, which includes Instagram, Facebook Right Column, Instant Articles and Audience Network. Not all of these are profitable for every business, so you’ll need to monitor and remove the placements that are not generating you results.
Every time you come across an option or category on the ads manager platform that you are not familiar with, become familiar with it. Ignoring one step can cost you. For example, Facebook often has ‘advanced options or settings.’ Click on it to expand and open those up. Make sure they are set up to be relevant to your ad. Every setting option counts.
Learning is key. Learning something new everyday will bring you to new heights.