Facebook Advertising Success By Veronica McGhee

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Information about Facebook Advertising Success By Veronica McGhee

Published on October 25, 2018

Author: SearchMarketingExpo

Source: slideshare.net

1. #SMX #23b @Veronica_SEM Steps To Tying & Driving Revenue From Facebook Facebook Advertising Success

2. #SMX #23b @Veronica_SEM Setting Up & Tracking Revenue On Facebook 1. Pixels and custom events 2. Custom conversions and audience lists 3. Segmenting audiences 4. Optimizing for revenue Facebook: Strategies For Long Term Sales Growth

3. #SMX #23b @Veronica_SEM • Increase sales growth • Steal market share • Enter new market • Find new customers • Drive sales from current customers What Is The Business Objective?

4. #SMX #23b @Veronica_SEM 1st party data comes from • Website pixel • Customer email list • Customer database • Facebook page • Facebook videos • Facebook ads Taking Advantage Of Your Own Data

5. #SMX #23b @Veronica_SEM Cookie Usage: Terms & Conditions, New 1st party cookie You are required to disclose to your website/app visitors where and how Facebook’s pixel will be used. 1st Party Cookie: • Facebook released a new first-party cookie option for advertisers to capture analytics data from browsers that block third-party cookies • After Oct. 24th all advertisers will be opted into 1st party cookie collection • Advertisers can opt-out and revert to 3rd party cookies

6. #SMX #23b @Veronica_SEM Implementation & Activation

7. #SMX #23b @Veronica_SEM For tracking site revenue & site audience • Generate pixel under “Events Manager > Pixels” • Add the default PageView pixel to each site page • Ecommerce sites: • Add in custom purchase event, modifying pixel to capture value (purchase revenue) • Non-ecommerce sites: • Create custom events to track proxy metrics 1. Setting Up Conversion Tracking & Reporting

8. #SMX #23b @Veronica_SEM • “Find a retailer” actions • “Where to buy’” actions • Form submissions • Call buttons • Internal site searches • Specific ‘Product’ or ‘Service’ pageviews Qualifying Users Via Proxy Metrics

9. #SMX #23b @Veronica_SEM Seeing Pixel Activity

10. #SMX #23b @Veronica_SEM Seeing Custom Values & Parameters From Pixel

11. #SMX #23b @Veronica_SEM Seeing What URLs Pixel Fires On

12. #SMX #23b @Veronica_SEM 1. Direct API to Facebook from POS devices § Live connection § Data is updated more often than manual uploads, allows you to see and make performance changes faster 2. Manual CSV data uploads § Ideal solution if API connection is not an option § Data gets stale after 7 days if not uploaded consistently Options For Offline Revenue Tracking

13. #SMX #23b @Veronica_SEM 1. Work with your developers to connect to Facebook’s API 2. Generate Access Token § The connection between POS and Facebook Ads Manager 3. Define data to be pulled into Facebook 4. Set API call frequency/data upload timing 5. Q/A Direct API To Facebook From POS/other Devices

14. #SMX #23b @Veronica_SEM Setting up: 1. Export data from your CRM or other application into a spreadsheet and save as a .CSV extension 2. Include all appropriate attributes in the columns (date, revenue, etc.,) and each unique transaction in the rows 3. Important! You must include a unique time stamp for each row in the approved format 4. Upload to “Events Manager > Offline Events” Manual CSV Data Uploads PreparingYour Offline Event Data

15. #SMX #23b @Veronica_SEM Aim for a match rate of at least 94% for the most accurate attribute rate. Offline Event Data Uploads Show Matched & Attributed Events

16. #SMX #23b @Veronica_SEM Perhaps you have a list of email subscribers and want to see which ads drove signups. Upload this list to the Offline Events tab to see attribution in ads manager, then use learnings to optimize. • Important! You must continue to include real unique timestamps per row for this to work* • Create a “value” column in the CSV and assign each customer a value as defined by you - this is essentially dummy revenue *the timestamp tells Facebook when the event happened and is used to deduplicate data Have A List With No Revenue? Upload It Anyway

17. #SMX #23b @Veronica_SEM Share these #SMXInsights on your social channels! #SMXInsights § Tracking revenue and proxy metrics within Facebook allows you find more people likely to take the same, desired actions.

18. #SMX #23b @Veronica_SEM 2. Creating Custom Conversions & Audience Lists Rule #1 Each custom conversion must have a corresponding audience list. Rule #2 Keep building new audience lists!

19. #SMX #23b @Veronica_SEM Setting Up Custom Conversions – Pixel Under “Events Manager > Custom Conversions > Create Custom Conversion” • Website pageview and event conversions can be defined by URL-based and event-based rules. • URL: list URL(s), such as confirmation page, to be counted as a conversion when the pageview pixel fires on these pages • Event: list event parameters the pixel will collect (or leave blank to capture all)

20. #SMX #23b @Veronica_SEM Setting Up Custom Conversions – Pixel

21. #SMX #23b @Veronica_SEM Setting Up Custom Conversions – Offline Events Offline event lists can be found under “Data Sources”

22. #SMX #23b @Veronica_SEM Seeing Custom Conversions In Ads Manager

23. #SMX #23b @Veronica_SEM Building Custom Audience Lists Custom Audience lists can be created from multiple sources. • For revenue-based targeting, leverage Website Traffic, Customer File and Offline Activity as the audience list sources

24. #SMX #23b @Veronica_SEM Setting Up Custom Audience Lists Under “Assets > Audiences” click Create Audience • Custom audience list rules should look similar to the corresponding custom conversion rules

25. #SMX #23b @Veronica_SEM Add In Lookalike Lists • Create a lookalike for each custom audience list for targeting prospective customers with similar attributes to existing ones. Suggested sizes to create at once: • 2% • 6% • 10%

26. #SMX #23b @Veronica_SEM Share these #SMXInsights on your social channels! #SMXInsights § Each custom conversion should have a corresponding custom audience list. – Custom conversions are used for optimizing – Custom audiences are used for targeting

27. #SMX #23b @Veronica_SEM 3. Segmenting & Activating Audience Lists Segment audiences and launch in 3 waves: 1. Start with interest targeting 2. Next, launch retargeting 3. Last, activate lookalike lists

28. #SMX #23b @Veronica_SEM Why This Approach • Builds the cookie pool of users who converted or visited your site • Allows us to cast a wide net first and comeback for users lower in the funnel • Note: for those getting started, it’s best to go after low-hanging fruit by activating retargeting lists first • In many cases, the Interest targeting list will be a ‘catch all’ for conversions

29. #SMX #23b @Veronica_SEM Retargeting & Lookalike Targeting Considerations • It’s good to exclude previous converters from retargeting ad sets, but it’s on a case by case basis • Lookalike lists should exclude retargeted users • When an interest or retargeting list is live along with the corresponding lookalike list: • Exclude the first 1% - 2% of lookalike users and just target 3% and up because you’re likely already capturing the top 1% - 2% of lookalike users in the other lists

30. #SMX #23b @Veronica_SEM Share these #SMXInsights on your social channels! #SMXInsights § Launch interest, retargeting and lookalike audience lists in waves. – Add exclusions to interest and lookalike lists as necessary

31. #SMX #23b @Veronica_SEM 4. Optimizing For Sales Bringing it all together: Begin leveraging custom audience lists to target users and custom conversions to optimize for revenue and/or transactions.

32. #SMX #23b @Veronica_SEM But First, One Last Set Up Gut Check Check conversion data is pulled into Facebook • Pixel is implemented & site actions are tagged with custom event tags • API connection is established and data is available • CSV data has been uploaded • 3 audience lists are ready to launch 1. Interest list optimizing for all (broadest) conversions (catch-all campaign) 2. Retargeting list optimizing for all conversions from users who engaged but not converted 3. Lookalike of converters list

33. #SMX #23b @Veronica_SEM Launch With A Conversions Campaign Objective • The Conversion campaign objectives allows us to optimize for sales (revenue/transactions) or proxy metrics • Start by optimizing for the broadest conversion (i.e. any purchase) to generate data • While this campaign is live, segmented conversion and audience lists will start populating with data

34. #SMX #23b @Veronica_SEM Grow Purchase (or Conversion) Volume By Choosing The Right Optimization Tactic Within the Conversion objective campaign setup: • Choose to optimize for conversions to generate purchase volume

35. #SMX #23b @Veronica_SEM Increase ROI By Targeting Highest Value Customers Within the Conversion objective campaign setup: • Choose to optimize for values to increase average order value

36. #SMX #23b @Veronica_SEM Campaign’s Launched, Data’s Collected. Now What? Once the interest-based (catch-all) list has generated the number of conversions significant to your business, start segmenting ad sets. • Launch retargeting • Update interest lists to exclude retargeted users as necessary • Activate lookalikes • Considering switching from conversion to value based optimization tactics once substantial data is available

37. #SMX #23b @Veronica_SEM Start Leveraging High Value Audience Data The following two lists should be populated following the launch of interest-based lists: • Custom conversion list, counting each purchase over $x value § Optimize for this conversion by retargeting users who engaged but didn’t convert, or existing high value purchasers • Custom audience list of users with AOV over $x § Increase AOV by optimizing your high value custom audience list (or lookalike high value list) for values (within conversion campaign) • Test by mix/matching lists based on business objectives

38. #SMX #23b @Veronica_SEM Strategic Thinking About Retargeting Who to retarget and when: • Every converting customer right away • Best for large retailers with compelling prices (Target, Wal-Mart) • Only non-converters/non-customers • If timely repeat purchases are unlikely based on business objective, product price or conversion type • Targeting previous customers based on repeat purchase data • i.e. if the average customer purchases every 6 months, create a list of users approaching this time-window

39. #SMX #23b @Veronica_SEM Day-To-Day Optimizations • Continue making changes to your interest-based list per your strategy and audience learnings • Consider excluding previous converters if retargeting lists are also active to prevent ad saturation and audience overlap • CVS data should be uploaded at least every 7 days • Creative optimizations and changes should continue per your strategy

40. #SMX #23b @Veronica_SEM Quick Note On Creative Considerations Creative optimizations are a critical part of any Facebook campaign: • Creative in retargeting ad sets should align with the conversion goal (product specific, upsell, special offer) • It’s encouraged to leverage ad formats conducive for generating conversions: • Facebook Dynamic Product Ads • Facebook Collection Ads • Instagram Shopping Ads • Facebook Ads in Marketplace

41. #SMX #23b @Veronica_SEM Share these #SMXInsights on your social channels! #SMXInsights §Leverage the Conversion campaign objective to generate sales from Facebook: – Optimize for conversions to drive transaction volume – Optimize for values to drive higher transaction totals

42. #SMX #23b @Veronica_SEM • Install Facebook pixel • Upload your customer [revenue] data; starting with no revenue data I OK • Create custom conversions • Build audience lists: general “catch all” and rule-based lists • Segment your audiences, start with excluding retargeting from interest- only lists and removing top 1% from lookalike lists • Segment out high value audiences, target them with unique ads • Leverage ecommerce focused ad formats for online sales Key Takeaways & Immediate Next Steps

43. #SMX #23b @Veronica_SEM

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