Optimize Facebook ad campaigns
1. Deactivate the ad sets with poor performance.
Go to Facebook Ads Manager. Click on Ad sets. Click on Amount spend to sort the ad sets descending by spend. Check the Results and Cost per results column. Deactivate ad sets with high spend and low number of results.
2. Optimize your creatives to improve your CTR and prevent ad fatigue.
Rotate at least 4-6 ads, per ad sets, to prevent ad fatigue. Deactivate the ads with the worst results, low CTR, high cost per result, in the ad sets with high spend. Create additional variations of the winning variations. Test one thing at a time in new variations, for example, headline, copy, image, or video.
3. Test different bidding strategies in different ad sets or campaigns, to optimize your cost per result.
For example, test Lowest cost against Target cost per purchase.
4. Optimize the targeting audience size in your ad sets.
Segment large audiences into smaller audiences. For example, instead of targeting 10 different interests in one ad set, create 10 different ad sets with one interest being targeted in each of them. For instance, a company that wants to target people interested in beauty might logically decide to use Sephora for interest-based targeting. However, Sephora has an audience of over 136 million, which makes your targeting imprecise. A better targeting tactic would be to select 10 different interests that are more specific than Sephora and have more distinct audiences. For example, Charlotte Tilbury, Guerlain, Laura Mercier, Essie, Urban Decay, and Jo Malone all have audiences of between 1 million and 10 million. A smaller audience also allows you to be more granular in your targeting. Create different ad sets for different genders and age groups, for example, instead of a large ad set targeting 10,000,000 users, divide the audience into smaller age and gender categories like Females aged 25-34, and Males aged 35-44. This strategy lends itself well to segmentation. While many marketers might choose to target all ages and then view the audience breakdown in the Facebook Ads Manager (Columns Performance > Breakdown), this tactic relies on the Facebook algorithm to deliver the ads to those most likely to convert. By having different ad sets divided by gender, age, and even location, you can get a more accurate picture of which segments are most profitable to your business.
5. Optimize the placements and platform targeting.
Go to Facebook Ads Manager. Click on Breakdown. Click on By delivery. Click on Platform and placements. Check the Results and Cost per results column to identify the top platforms and placements. Create new ad sets targeting the top platforms and placements only. For example, Instagram Stories and Facebook News Feed.
6. Optimize the ad scheduling.
Go to Facebook Ads Manager. Click on Breakdown. Click on By delivery. Click on Time and day (Ad account time zone). Look at the Results and Cost per result. Identify the days and times of the days with the best performance. Create separate ad sets and schedule the ads to run on the best times of the day only.