You’ve created your first campaign, and lucky you, you’ve been able to garner tons of clicks and enough purchases to gain a decent ROI. But why stop there? This article aims to show you how to scale your Facebook ads using 3 tried and true methods.
We’ll break down how to fuel the top of the funnel by expanding your cold audiences, how to cross-sell and upsell, and how to create a full-funnel ad strategy you can rely on year in and year out.
Let’s get started!
How to Scale Facebook Ads Tip #1 – Create an Ad Funnel
As a newfound Facebook advertiser, it’s easy to get excited when your first campaign goes well and generates leads or sales right off the bat. But one of the most common mistakes we see advertisers making is not asking themselves one simple question:
“What happens to the people who don’t convert?”
The fact of the matter is that recent studies have indicated that as many as 69% of people who add products to a cart abandon it in that same session without ever converting.
That’s right, nearly 2/3rds of your potential revenue is being lost this very second.
To combat this problem, you can implement one simple technique – create a funnel by implementing retargeting campaigns.
Retargeting campaigns are campaigns that target users who have interacted with your website or company (like visiting the site or adding a product to the cart) or by uploading your existing customer database into Facebook.
To create a funnel, you would segment users depending on where they are in the buyer’s journey and encourage them to move through the different stages until they hit your ultimate goal: a purchase.
For those of you who are a little more visual, it would look something like this:
You may be wondering how Facebook would be able to find a person who never made a purchase on your site. This data is either collected by the Facebook Pixel (which is a piece of code installed on your website).
As far as the type of retargeting you choose, it really depends on your niche and vertical. For example, a typical eCommerce funnel could be comprised of several levels:
- Cold traffic campaign to attract first-time visitors to your site
- Mid-stage campaign to retarget users who have visited the website, but never added anything to the cart
- Higher-intent campaign to target users who have added something to the cart, but not purchased
- Targeted customer campaign to upsell or cross-sell items
The same setup could be used for companies geared towards lead generation by simply replacing the cart behavior with users who have/have not filled out a form on your website.
If you’re wondering if this strategy has merit, there’s a host of evidence to prove that it does.
It’s been proved that retargeted users tend to return to the site more often than those who have not interacted with your business before, with 26% coming directly from retargeting.
If you want to learn how to scale your Facebook ads and you don’t have a funnel strategy in place, this is the absolute best place to start.
How to Scale Facebook Ads Tip #2 – Cross-Sell and Upsell With Dynamic Ads
As every salesperson knows, cross-selling and upselling can mean the difference between making and breaking company profit goals.
As an advertiser with potentially hundreds of products in stock, how do you create hyper-segmented retargeting ads without creating hundreds of campaigns?
The answer is Dynamic Product Ads.
Dynamic Product Ads are Facebook’s way of helping you to match a unique person with the products they browsed on your website. They do this by using the aforementioned Facebook Pixel and your own uploaded product catalog to pair the two together.
Then, by using a templated ad format, you can have Facebook serve hundreds of combinations of products to users around the globe without having to create them all from scratch.
The dynamic part of this comes from the fields you see above – these will automatically be filled in depending on what you added when you set up your catalog.
Aside from being able to personalize your retargeting ads to users who have not checked out, using this format comes with another huge advantage – cross-selling and upselling.
In addition to creating an ‘all-in-one’ catalog of your products, you can also create product sets – which can be a group of products with specific attributes, like t-shirts or certain accessories. You can then choose to use these sets for your segmentation.
For example, you could create a campaign to target those who have purchased a digital camera from you in the past two weeks and upsell them into SD cards for additional storage, or any other accessories commonly purchased for that set of items.
You can repeat this same setup for all sorts of product sets. Keep in mind not to go overboard and become too spammy.
Take a look at your recent product sales and see which hot ticket items can most compliment your existing products at the best ROI for your ad spend.
How to Scale Facebook Ads Tip #3 – Feed the Top of Funnel
Depending on your business and website traffic, you may find that the number of people receiving your retargeting ads is quite low.
This is a common problem of retargeting for those who have a new company or are still trying to grow their website traffic.
The best way to combat this problem is to fuel the top of the funnel – aka the campaigns that aim to drive new prospects to your website – in order to increase the number of people who pass through the rest of your ad funnel.
To do this, you can improve the quality of your cold traffic campaigns by using different audiences, namely lookalike audiences, to find more (and better quality!) site visitors than interest targeting.
Lookalike audiences allow you to upload a seed audience (for example, your customer list) into Facebook, and from there they will find new people who are similar to those in the list you’ve uploaded.
The theory here is that those people who are similar to your current customers would ultimately be more interested and engaged with your ads than those who you’re targeting based on interests (which may or not be accurately reported on Facebook).
In order to set this up, you need to have a seed list (either a .csv of your current customers or by using a Custom Audience based on a pixel event, like Purchase conversions) and turn it into a Lookalike Audience in the Audience menu of Ad Manager.
You’ll see here that in addition to location, you can also select the percentage of the audience size. While your audience size will increase with the higher percentages, the similarity between these users and the seed list you uploaded will decrease.
You can create multiple audiences in different percentages and test to see what works best, but data suggests that 1%-2% is the optimal range.
After you’ve created this audience (and given Facebook time to create the list) you can then use them in place (or in addition!) to your normal interest targeting for your cold traffic campaigns.
In this article, we’ve shown you how to scale Facebook ads with a variety of different techniques that will allow you to use this same baseline over and over again to continually achieve a solid Facebook ROI.
Do you have a perfect scaling strategy not mentioned in this article? Let us know in the comments below.
If you’re looking for additional Facebook ad resources, check out our article on the top Facebook ads podcasts to follow.