Digital Marketing Manager - SaaS
These SEEDS are likable little ads (Dynamic Product Ads – DPA – for new customers or banners) that target large audience groups with small testing budgets. After 1-2 days of running these, you will be able to point out the best performing ads, increase the budget accordingly and pause the weaker ones. The process goes like this:
With these settings, all ad sets will have a 10EUR budget for the testing period. If your ad proves to be appealing to your audience, it will get more clicks, its CTR will go up and its CPC will go down. After the ad reaches its daily budget, you would be able to evaluate its performance.
If the performance is above average then increase the budget for that particular ad from 10EUR to 20EUR and let it run for as long as it keeps delivering satisfactory metrics.
If you choose to discontinue some under-performing ads, replace them with new ones for the same target groups. You should continuously increase the number of ads and the size of your audience. Aim to create new ads for the same ad sets 2-3 times a week to keep the ad ball rolling.
Run Dynamic Product Ads alongside this strategy – this will ensure that you effectively reach new customers who came to your website but didn´t convert the first time through re-targeting.
The long-term result of employing this strategy in conjunction with DPA would be a rising quality of your account history, contributing to a lower CPC in the future.
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It is based on oCPM (targeting based on 2.5M individual signals analyzed by Facebook). Facebook effectively finds audiences similar to users who have previously completed the required conversion action on your website (for example, purchased products or got in contact with you).
Don’t be afraid to repeat successful ads (those with a high score, strong creatives, positive feedback and good stats) 2-3 times a week. Facebook supports ads with good eCTR and eCVR (e = estimate). All these positive signals are multiplying and increasing the chance that your ads will win auctions.
Advertisers create more ads than Facebook can serve. It means that it can repeatedly expose its users only to the best ads out there. The life cycle of an ad has 3 main stages:
The first part is crucial because Facebook can sometimes pick an unsuitable audience at a bad time (the test audience segment comprises of only 100 users). This testing part will set your ad’s reputation for every oCPM ad you later add, determining the fate of the whole campaign. If you are lucky, oCPM will choose a good test audience and make sure that the latter phases run smoothly. If your test audience is not chosen well, however, the ad must go through another optimization process, consuming both your time and money. It this case, don’t hesitate to discontinue the ad it while the ad spend is still low.
Yes, Facebook suggests using a similar technique for re-marketing but be sure to monitor the CPC of your ads. It can get very high if you do not use the rule of thumb to stop under-performing ads on time.
Here is a number of extra tips that can help you make lemonade out of ad lemons:
Always consider user reactions on Facebook and take your audiences’ advice to further improve your product and USP. With small budgets you can afford to experiment – try testing an alternative message and monitor customer reactions carefully.
If your brand is young and fresh, try to focus on WCA, WCA of category and lookalike audiences for the first 2-3 weeks in order to grow your reach first.
Still doesn’t work? Check your strategy and think about the Facebook user base… Is this where your core target audience is based?
No luck this time either? Check your measuring system. In many cases, that is where the problem may be hidden. For example if the ad is primarily focused on mobile, Google Analytics would simply misinterpret the results, as they use a cookie-based system of tracking, missing out on a percentage of conversions in the final report. Read more on reporting in our analytics blog post.
Seeds strategy with DPA for new customers.
This technique may take some time to master but the sooner your start, the better would your understanding of the best practices for your brand become.