Introduction

Many brands and agencies struggle with getting the best results from their Facebook ads. The main issue is that they often make the same mistakes. In this article, we will look at five common mistakes and how to avoid them. We'll cover problems with funnel strategies, budget allocation, creative testing, audience testing, and optimization. By the end, you'll have a clearer idea of how to improve your Facebook ad campaigns.

Mistake 1: Misusing Funnel Strategies

Top of Funnel, Middle of Funnel, Bottom of Funnel

A lot of brands rely on the traditional funnel strategies: top of funnel (TOF), middle of funnel (MOF), and bottom of funnel (BOF). These strategies aim to guide potential customers through the buying process. However, this approach might not be the most effective way to use Facebook ads.

The Problem with Retargeting

Many brands focus heavily on retargeting, thinking it's a sure way to boost conversions. While it can show good metrics like a low cost per conversion, this isn't always reliable. Without proper incrementality testing, it's hard to know how many conversions are genuinely due to retargeting efforts. Often, these conversions might have happened without additional ad spend. This means you could be wasting money on people who would have bought your product anyway. Instead, broad targeting can let Facebook find the most likely converters for you, saving time and money.

Mistake 2: Inadequate Daily Budgets for Ad Sets

Budget Allocation Issues

Setting a daily budget that is too low is a common mistake. For example, having a $10 daily budget when your goal is a $50 customer acquisition cost won't work. Facebook ads need enough data to optimize properly. When your budget is too low, your ad sets don't get enough volume or data to perform well.

Recommended Budget Practices

To get the best results, your ad sets need sufficient budget. Facebook's learning phase requires about 10 conversion events per week to optimize efficiently. If your product or subscription costs $50, a $10 daily budget won't generate enough data. Instead, set a budget that aligns with your product cost and expected conversion rate. This will ensure your ads have enough data to perform optimally.

Mistake 3: Not Testing New Creatives Regularly

Creative Fatigue

Over time, ads can become less effective as audiences get tired of seeing the same content. This is known as creative fatigue. If you're not testing new creatives regularly, your ads will stop performing well, and your growth will stall.

Importance of Regular Testing

To keep your ads fresh and engaging, it's crucial to test new creatives frequently. If you're spending a lot on ads, consider testing new creatives every week. For lower spend levels, monthly testing might be sufficient. Regular testing helps you find the most effective ads and keeps your campaigns from becoming stale.

Mistake 4: Prioritizing Audience Testing Over Creative Testing

Creative is the New Targeting

In the past, targeting specific audiences like lookalike audiences or interest stacks was a common practice. However, focusing too much on audience testing can be less effective now. The current trend is that creative content plays a bigger role in ad success.

Issues with Audience Testing

When you focus on testing different audiences with the same creative, you may end up cannibalizing your efforts. Instead, it's more effective to test different creatives with broad targeting. Starting with interest and lookalike targeting can be useful, but as you scale, broad targeting combined with varied creative content will yield better results.

Mistake 5: Failing to QA Optimization Events

Ensuring Proper Optimization

One foundational aspect of running effective Facebook ads is ensuring that your optimization events are firing correctly. This means verifying that the events you are optimizing for, such as purchases or sign-ups, are properly tracked when someone completes the desired action on your landing page.

Consequences of Neglecting QA

If the optimization events are not firing correctly, you could be wasting your ad spend. For instance, if you are optimizing for purchases but the purchase event isn't tracked, Facebook won't have the data needed to optimize your ads properly. This can lead to inefficient ad spend and missed opportunities. Always make sure to QA and verify that all events are firing as expected.

Conclusion

In this article, we’ve highlighted five common mistakes that brands and agencies often make with their Facebook ads:

1. Misusing Funnel Strategies: Over-relying on top, middle, and bottom of funnel strategies without proper testing can waste budget. Broad targeting can be more effective.

2. Inadequate Daily Budgets: Setting daily budgets too low hinders ad performance. Ensure your budget aligns with your product cost and expected conversion rate.

3. Not Testing New Creatives Regularly: Creative fatigue reduces ad effectiveness. Regularly testing new creatives keeps your ads fresh and engaging.

4. Prioritizing Audience Testing Over Creative Testing: Shifting focus to creative testing with broad targeting can yield better results than constantly testing different audiences.

5. Failing to QA Optimization Events: Ensuring optimization events are firing correctly prevents wasted ad spend and ensures proper ad optimization.

By avoiding these mistakes, you can improve your Facebook ad campaigns and get better results. Remember to allocate sufficient budgets, test new creatives regularly, focus on creative testing, and always verify your optimization events. Implementing these strategies will help you make the most of your Facebook advertising efforts.