1. Scaling Facebook Ads Allowance
Usually, the cheesiest and quickest way to scale online ad campaigns is to adjust their budget. More the budget, more reach equals more results.
Undoubtedly, budget inflation produces more results at a higher cost. This should not be your approach. Go through the suggestions below to ensure your CPR won’t fly off the roof when supplementing your ad campaigns with an extra budget.
- Raise your current campaigns’ budget
There are multiple ways to estimate whether increasing your Facebook ads campaign allowance will bring more conversions to the table or only boost the cost-per0result (CPR).
For instance, you can audit the prevalence of your ad campaign: navigate to Facebook Ads Manager, but the reporting period to the past 30 days, choose “Delivery” report, and review the frequency per ad campaign.
A frequency lower than 3 points indicates that you have room to scale the campaign budget. A frequency in-between 3-6 points is a sign of getting more results when adding in more funding, but not to forget, CPR will be higher.
A frequency higher than 6 points is a red flag. You will reach the same people a lot more times, affecting the conversion rate.
If your current ad campaigns have a high frequency, you should focus on other strategies like extending your target audience or bringing new ways to innovate your ad sets. On the other hand, if the frequency is low and you want to scale your budget, it would be wise to follow the following approach.
- Gradually increase your ad campaign budget
When showering your campaigns with the extra budget, you have two options:
a) Take the risk by going all-in with the budget and hoping for a sudden increase in cost-per-result (CPR).
b) Take baby steps; add extra budget gradually, not confusing Facebook algorithms.
To start seeing results, you need to wait at least 48 hours every time a change is introduced to the campaign due to the learning phase of Facebook algorithms.
To have your ad sets for the learning phase, you should:
a) Hold on to editing your ad set until it’s out of the learning phase
b) Bypass unnecessary changes
c) Abstain from unrealistic budgets
To ensure that ad campaigns’ learning phase succeeds, pour extra budget in 20% increments.
Whenever you supplement the budget by small increments, the change won’t affect the ad set, and the algorithms absorb most of the data attained from the initial phases of the campaign.
Ad delivery will de-stabilize if the budget is increased rapidly, leading to a decrease in ROI.
- Switch to automated rule to automate budget increase
So, you prefer a slow-and-steady increase approach to ad budget but don’t have the time to keep tabs on the Ads Manager daily?
Worry not, as I have a pro-level hack to automate the ad budget process, and this can all be done in the Ads Manager dashboard.
By using the automated rules, you have the power to increment the budget automatically by x% when an ad set meets certain conditions.
For instance, you can introduce the following rule:
a) IF an ad sets CPR in the past 4 days as $x
b) And IF the ad set delivered at least 35 conversions in the past 4 days
c) Then supplement the ad set budget by 20%
d) Do not exceed the daily budget by $x
e) Run the process after every week.
Most importantly, do not forget to set the daily budget cap in the automation rules; otherwise, you might end up with expenses you were not expecting.
2. Scaling Facebook Ads Target Audience
Whenever you try showing your ad to an audience that doesn’t find it interesting or relevant, they won’t bother to check it out or convert.
Let’s take a closer look at how you can efficiently scale Facebook ads to reach more people interested in your offers.
- Increase your audience size by widening interest-based targeting
By now, it must’ve occurred to you that the reason for increasing cost-per-unit might be the Facebook ad occurrence.
A higher ad occurrence rate means the audience has already seen the ad too many times. Supplementing that ad campaign with an extra budget means the same audience will see more of your ads.
Rapid audience growth can be achieved by adding more compatible interests in the Detailed Target Section.
One thing to be aware of is not to narrow down interest-based audience size too much. Small-size custom and Lookalike audiences perform exceptionally well. Consider keeping the size somewhere in-between 20,000 people.
- Add new Lookalike Audiences
If you don’t know what it does, it’s a way of reaching out to more people with similar interests and activity patterns as your current customers.
And by targeting Lookalike audiences, advertisers can connect with more people interested in their product. Meaning more results at a lower cost.
Now, apply the Lookalike audience feature to your budget scaling process. Either introduce new ad campaigns with Lookalike audience or add new ad sets to current Facebook campaigns and focus on increasing the budget of those campaigns.
From the Audiences section of Ads Manager, Lookalike audiences are set up.
It is recommended to keep it between 1,000 to 50,000 people when it comes to audience size. Why? Simply because the smaller size matches more easily with the source audience. A larger size restricts the similarity level between Lookalike and the source.
For an in-depth study of Lookalike Audience, do not hesitate to check this out.
- Broaden up your Lookalike Audiences
After you’ve started scaling Facebook ads, you exhausting your high-performing (1% – 3%) Lookalike audiences.
However, there is a way around it to help you secure more profit from Lookalikes.
a) Once you have exhausted the top-level audience, expand the bar to 10% Lookalikes to reach more customers.
b) Extend your Lookalike audiences from top buyers to shopping cart abandoners and blog readers.
- Try targeting a wider audience
If you’re heavy on the budget and your end goal is to scale ad budget 10x, you cannot limit yourself to Small Custom and Lookalike audiences.
One of the things to experiment with is going deep with targeting, concentrating only on the location and demographics-based targeting.
Let’s say you’re looking to sell a product to the UK market. In this instance, you only need to target people in the UK aged between 18-and 60.
There are no Lookalike or interest-based audiences here, just an ad set with a potential reach of 1,000,00+ people.
This strategy best works for marketers who have products in stock that unquestionably anyone can buy.
- Reach out to new locations
So far, we have covered a LOT today, and this is the last trick we have for you.
If you’re new in the market and just started getting attention, it won’t hurt to widen your reach by targeting additional markets.
We have two different approaches to assessing new advertising markets.
a) Either choose markets based on the data and know-how and set up new Facebook ad campaigns for those countries.
b) Or run a global campaign targeting 4-10 countries and examine which countries respond best to your ads.