WasteNot

Facebook Ads CPM has increased nearly 2X since 2020 📈. But with over 3 billion users, Facebook is still one of the most powerful acquisition channels. Four hacks you can use to maximize Facebook ROI despite rising prices 👇 1. Nail your campaign set up Choose the right targeting, objective, and ad placements for your campaign to ensure that Facebook can optimize delivery for your goals. 2. Fine-tune your targeting Use tactics such as audience suppression to prevent your ads from being served to disinterested or irrelevant users. This allows you to allocate more budget to potential buyers. 3. Improve the post-click experience Don't spend time and money to capture users' attention, only to send them to a bad landing page. Invest in increasing page load speed and personalization to maximize conversions. 4. Leverage Facebook's powerful A/B testing capabilities Consumers' preferences are shifting faster than ever. Keep your campaigns up-to-date by leveraging Facebook's testing functionality, which makes it easy to split audiences and budgets for accurate testing. If Facebook is part of your Q4 acquisition strategy, you can see more on how to optimize your programs here - https://lnkd.in/eu2AGiwH #facebookads #paidsocial #digitalmarketing

We couldn't agree more with Adam Heimlich when he says "Disqualifying audiences is often a better option than targeting." Need proof? Here are anecdotes and data from some of the leading voices in ad targeting and identity strategy on this thread to back it up (paraphrased in some cases for brevity) - [we analyzed campaigns where] 99% of conversions come from 40% of qualified targets, meaning ROAS could be doubled on the same budget if the right suppression strategies were activated. Scott M. McKinley. - When i was at Virgin, audience suppression was our number one use case for customer data across paid channels and it worked really well. Kristen Sesto - 16MM cars are sold each year in the US to 233MM licensed drivers. Automakers often try to achieve at least 70% reach. WHY? Just suppressing 50% of the population would save 28% of automaker’s ad budgets. Jay Friedman. If you're wondering why the industry isn't as maniacally focused on suppression strategies as they are on targeting tactics like modeled audiences, lookalikes, creative optimization, etc. given its potential to drive IMMEDIATE improvements in performance, you're not alone... - Not quite sure why this hasn’t received the adoption across the industry. There’s a huge white space here for brand dollars to optimize their spends." Manik Khanna. - I couldn't agree more. Nadya Kohl - Anti-targeting/audience suppression is a glaring use case for user-level identity that absolutely no one is talking about. Eli Heath We think these posts sum up the two primary reasons this tactic still goes largely ignored: 1) Many parties (agencies, ad platforms, etc.) don't want to suppress existing customers because it would lower their attributable conversion rates {meaning they'd rather grab the lowest hanging fruit and attribute it to themselves}. In-house teams feel differently and now have a mandate to drive overall growth as efficiently as possible. Kristen Sesto 2) Waste has been a feature, not a bug....To pull this off it also takes around 100 steps. Sure it's a simple idea, "Don't allow digital ads to go to people that already bought from me." It takes a massive engineering sequence to pull this off. WasteNot was founded to address these two blockers specifically. Our self-service platform is purpose-built to help marketers activate ANY real time suppression strategy leveraging 1st and 3rd party data without any coding or technical requirements. Sign up for a no-commitment 30 day free trial (full use of the platform) and see just how much wasted ad spend you could be saving. https://lnkd.in/gS-XCvjJ

We couldn't agree more with Adam Heimlich when he says "Disqualifying audiences is often a better option than targeting." Need proof? Here are anecdotes and data from some of the leading voices in ad targeting and identity strategy on this thread to back it up (paraphrased in some cases for brevity) - [we analyzed campaigns where] 99% of conversions come from 40% of qualified targets, meaning ROAS could be doubled on the same budget if the right suppression strategies were activated. Scott M. McKinley. - When i was at Virgin, audience suppression was our number one use case for customer data across paid channels and it worked really well. Kristen Sesto - 16MM cars are sold each year in the US to 233MM licensed drivers. Automakers often try to achieve at least 70% reach. WHY? Just suppressing 50% of the population would save 28% of automaker’s ad budgets. Jay Friedman. If you're wondering why the industry isn't as maniacally focused on suppression strategies as they are on targeting tactics like modeled audiences, lookalikes, creative optimization, etc. given its potential to drive IMMEDIATE improvements in performance, you're not alone... - Not quite sure why this hasn’t received the adoption across the industry. There’s a huge white space here for brand dollars to optimize their spends." Manik Khanna. - I couldn't agree more. Nadya Kohl - Anti-targeting/audience suppression is a glaring use case for user-level identity that absolutely no one is talking about. Eli Heath We think these posts sum up the two primary reasons this tactic still goes largely ignored: 1) Many parties (agencies, ad platforms, etc.) don't want to suppress existing customers because it would lower their attributable conversion rates {meaning they'd rather grab the lowest hanging fruit and attribute it to themselves}. In-house teams feel differently and now have a mandate to drive overall growth as efficiently as possible. Kristen Sesto 2) Waste has been a feature, not a bug....To pull this off it also takes around 100 steps. Sure it's a simple idea, "Don't allow digital ads to go to people that already bought from me." It takes a massive engineering sequence to pull this off. WasteNot was founded to address these two blockers specifically. Our self-service platform is purpose-built to help marketers activate ANY real time suppression strategy leveraging 1st and 3rd party data without any coding or technical requirements. Sign up for a no-commitment 30 day free trial (full use of the platform) and see just how much wasted ad spend you could be saving. https://lnkd.in/gS-XCvjJ

With marketing budgets under greater scrutiny in 2024, leaders need to stay on top of CAC. Invest too little, and consumers may go to your competition. Spend too much, and your CFO will start asking questions. 5 tips for lowering CAC 👇 🛍 Ensure you’re allocating advertising budget to high-intent users 🤳 Maximize acquisition through organic channels such as social media and content 👩💻 Invest in improving the post-click experience to close conversions 🎯 Optimize campaign targeting with audience exclusions 🎟 Launch seasonal referral promotions to generate warm leads See more on how to improve your acquisition costs in 2024 and beyond - https://lnkd.in/ePAjEU6X #customeracquisitioncost #growthmarketing #paidsocial

Every marketer knows retargeting is one of the best ways to drive sales. But it also costs more per impression. It's easy to blow your budget if you're not careful 🤦♂️ Here are 7 tips for maximizing the ROI of your Facebook retargeting campaigns: 1. Use the Meta pixel to power retargeting with user engagement data 2. Leverage first-party data to sharpen your targeting 3. Make your retargeting campaigns more compelling through personalization 4. Refine your retargeting campaigns with audience exclusions 5. Set a ROAS goal in Facebook Ads Manager 6. Optimize the post-click experience with personalization and page load speed to maximize conversions 7. Design retargeting campaigns for existing customers to increase upsells and cross-sells Is retargeting a core component of your Facebook strategy? See more on how to get more out of your retargeting campaigns - https://lnkd.in/eTsER-nN

📈 53% of marketing leaders have increased investment in social ads in the last year (Gartner). But with platforms like Facebook becoming more expensive than ever, how can brands optimize ROI? The secret is effective testing 👇 Marketers can no longer afford to take a “set it and forget it” approach to their social campaigns. Instead, they need to constantly adapt their campaigns to evolving consumer needs. Here are 5 tips for effective A/B testing on Facebook Ads: 1. Establish a clear hypothesis, and make sure your experiment is able to support or refute it 2. Run your test for long enough to generate significant results. Test length should align to your objective, and can be up to 30 days 3. Limit your tests to one variable 4. Leverage Facebook's A/B testing functionality, as it helps control budget and audience for the test 5. Develop a testing culture across the team to achieve significant improvements over time See our short step-by-step guide on how to create and optimize Facebook A/B tests for your campaigns - https://lnkd.in/eBtaUAdp

Just divide campaign revenue by costs and you have ROAS - simple right?! But when calculating ROAS, the devil is in the details. Two things that many get wrong 👇 ROAS is one of the most important metrics in marketing, allowing marketers to understand how much revenue they’re generating for every dollar invested. While ROAS may seem simple, there are several important nuances you need to consider to calculate ROAS correctly. 1️⃣ Attribute advertising revenue correctly The customer journey includes multiple customer touch points. Make sure you’re using the right attribution model, multi-touch attribution or single-touch attribution, for your campaigns. 2️⃣ Make sure you’re including all the right costs In addition to platform fees (such as those charged by Facebook Ads), consider whether you should include supplemental costs, such as agency fees and vendor licenses See more on how to make sure you’re calculating ROAS correctly - https://lnkd.in/gRv64zEf

Facebook’s user base of 3 billion daily active users 🤯 gives marketers the opportunity to reach audiences regardless of nationality or language. But just because you can advertise to everyone in the world, doesn’t mean you should. The secret to optimizing your Facebook Ad campaigns is to hone your targeting with Facebook’s powerful location features. Here are three ways you can use Facebook location targeting: 🏖️ Localize your campaigns to specific regions within your audience, and deliver each variant to the right audience ❎ Exclude locations that aren’t relevant to your campaign offer, or where you don’t do business. Remember - every dollar saved is more you can invest in your target audience 🍕 Design campaigns around regional trends to build stronger engagement with target locations  Not doing one (or any) of these today?! See more info on how to get started here - https://lnkd.in/e9p25Jnc #facebookads #paidsocial #growthmarketing

Optimizing Google Ads can have an outsized impact on overall marketing ROI. In 2023, Google Ads generated 39% of worldwide digital advertising revenue, more than Facebook, Amazon Ads, and TikTok combined 🤯 With so much budget being invested in Google Ads, achieving even a marginal increase in returns can mean hundreds of thousands, even millions saved. Here are 5 tips for increasing return on your Google Ads spend: 🎯 Define your ideal ROAS with Google Ads Target ROAS Recommendations functionality 📊 Test and learn with Google Ads Split Tests to improve your campaigns over time ❎ Fine-tune campaign targeting with Negative Keywords. 💰 Reduce campaign waste with Audience Suppression 🤳 Improve the post-click journey by investing in page load speed and personalizing the landing page experience - and be sure to optimize for mobile! Learn more about how to get started with each here: https://lnkd.in/eeWtScxe #googleads #roas #paidsearch

Could you be doing more with your first-party data? Here are 5 quick tips for accelerating your first-party data strategy from Michael Glantz, General Manager at The Trade Desk 👇 📊 Segment customers by Lifetime Value Use first-party data, such as purchase history, to calculate LTV, and tailor the customer experience based on customers’ value to your business. 🙋♀️ Create lookalike audiences from your highest LTV customers Identify your highest value customers, and use that segment to inform lookalike targeting. Just be sure to suppress your high LTV customers from lookalike campaigns! ⚡ Enrich your data Fill the gaps in your first-party data set with privacy-compliant data partners to inform better decision making and personalization. 👩💻 Personalize ads based on first-party user data Different users have different interests. Personalize ads based on engagement history to capture users’ interest and drive engagement. 🛍 Retarget your best leads Any time a great lead takes an action showing intent — visiting a pricing page, signing up for texts, registering for an event — is an opportunity to retarget them with social proof and conversion-oriented campaigns. See how to get started with each: https://lnkd.in/e2uxe4ET #firstpartydata #personalization #retargeting