How to Increase Your Facebook Ad ROI

According to a report on digital advertising by Dentsu Aegis Network, the Indian digital advertising industry is expected to grow at 32% CAGR to reach Rs 18,986 crore by 2020.

Most of this spend, close to 80-85%, continue to be held by Google and Facebook. Still, the two digital leaders can’t be more different from each other when it comes to targeting their customer base. Both these platforms have their own unique characteristics, with Facebook allowing for a lot more versatility and creativity.

Facebook Ads are ideal for targeting a very niche audience. However, more often than not, marketers fail to garner a satisfactory ROI (Return on Investment) on their campaigns. In this article, we will provide an actionable guide to understand the factors that influence ad performance and how small changes can bring about an improvement to your ROI.

Understanding the Intent

Understanding the purchasing drive of the buyer is one of the most important areas of focus for any business. As the world’s most popular search engine, Google routinely sees visitors with high purchasing intent – consumers turn to Google to search for a solution to their problem or to research products and companies before they make a purchasing decision. On the other hand, Facebook is a media consumption platform. As a result, Facebook users tend to be less purchase-driven.

This is not necessarily a bad thing. Since Facebook users are primarily looking at consuming media, their engagement rates tend to be quite high. As a matter of fact, studies show that consumers engage better on Facebook ads than on Google Adwords.

This difference in purchasing intent should define your marketing strategy and subsequently the kind of ads you run on the platform. So, while you may have direct CTA (Call to Action) based ads on Adwords, you may see better results running brand awareness related campaigns on Facebook. Alternately, since Facebook is a media consumption platform, you may also look at promoting lead magnets that can help you capture a targeted list who may then be nurtured and converted over time.

Specific Targeting

As a social media network, Facebook captures hundreds of different data points about each user. From an advertising perspective, this can be a goldmine since your campaigns can target truly niche groups of users. In other words, your campaigns do not have to appeal to all your target users at once. You may create a number of highly targeted campaigns reaching out to specific sub-groups within your target group.

For example, the target audience for BookMyShow, India’s largest entertainment central consists of all Indian internet users who book tickets online for movies, plays and other events. A BookMyShow campaign for movie tickets do not have to target all movie-goers. Instead, you could further filter your audience based on the actors they like or the kind of movie genres they enjoy. In addition, filtering by demographics like age – for instance, targeting animations to younger Facebook users and War Dramas to older audiences, can help save you time and budget. Such a niche approach helps you appeal to a greater share of viewers, thus contributing to higher engagement and conversion.

Since Instagram was acquired by Facebook, targeting can go beyond just the Facebook platform. As a matter of fact, Facebook lets advertisers target users on both these platforms through the same campaign. That can however be a mistake since users do not necessarily behave the same way on both platforms.

In addition to this, each of these platforms have unique targeting features that make them powerful. For instance, hashtags play a much bigger role on Instagram than on Facebook. In fact, there are some hashtags like #picoftheday, #like4like, and #instagood that are not only specific to the platform, but have also proven to bring higher likes and engagement for your ads.

It is thus important to NOT merge your Instagram campaign with Facebook simply because it is possible to. Keep your Facebook campaigns separate from others as different platforms require different targeting and advertising techniques.

Creating Viral Content and Telling Stories

India has the highest number of Facebook users globally as of October 2018. The country has a whopping 90 million more users than the United States which comes in second with a total of 204 million registered users. Given the sheer popularity of the platform, viral marketing is an unmissable aspect of Facebook marketing.

While it is technically possible to boil viral marketing down to science, there is no real guarantee that your campaigns will succeed all the time. This is why it remains as one of the lesser used formats. Nevertheless, the potential rewards from a successful campaign make viral marketing lucrative as even one viral hit can give your campaign a boost like none other.

Storytelling is a critical component of virality and can in fact beat production value many times. Invest your resources in identifying the finer aspects of what tickles your audience and use these lessons in building content that can potentially go viral.

Bonus Tip: Watch this free on-demand Webinar on The Secret to Viral Video Marketing for actionable tips to create viral content campaigns.

Avoid the Salesman Temptation

A routine mistake that a number of marketers commit is to be too desperate in their campaigns. While conversion is what each marketer strives for, it is not always possible to make your customers move faster through the funnel. What you could however do is to make the process smoother and seamless so that you could move more visitors into leads, and ultimately into paying customers.

For instance, consider this Facebook ad campaign from NNNOw, local online retail store.

Here, you see an ad for apparels with attractive discounts and a ‘Shop Now’ CTA. At the outset, this seems like a great ad since such impressive discounts is sure to get more conversions.

From a user perspective however, it may not always work. Viewers of your Facebook ad are not necessarily in a shoppers’ mode. While such discounts sure get noticed and may result in a lot of clicks, they may not necessarily convert to customers.

The success of this campaign depends on what lies next. Do the advertisers capture the leads and nurture them with similar discount campaigns over email or SMS? Or, do they take the visitor straight to the store? While the latter is more tempting as a marketer, it is important to resist the urge and focus on capturing the lead first. This ensures a higher conversion per campaign.

Using the Right Tools

Facebook provides its advertisers with a lot of tools to help improve conversion rates. From hosting a store within the platform to integrating your campaign with Messenger Ads, there is a wealth of alternatives to suit every need and budget.

The ingenuity of Messenger ads is that a simple tap on the timeline transforms into a more personalised chat in the messenger app, which then leads to better conversion.

Facebook Lead ads are another brilliant and easy way to capture user data through pre-populated forms that are easy to fill by the interested customer through mobile devices. With your emphasis on making the process smooth for customers, tools like Lead Ads minimise resistance and thus boost up your conversion rates.

how to increase your facebook ad roi - meltwater india

Key Takeaways

Facebook Ads remain an excellent way to get information about your business directly to the target customer in the most positive way possible. The strategies provided in this article will help marketers understand their users better and implement tweaks that will go a long way in maximizing the ROI of your ad campaigns.

Managing multiple social media accounts for any company doesn’t have to be as complicated as it sounds. By making use of professional tools such as Meltwater’s media intelligence tools, it is possible to integrate all aspects of social media efforts in one place. From keeping track of competition to discovering what works and what doesn’t through accurate measurement, there is a holistic approach to the product that covers various sections of the business. These tools can increase conversion by using social media influencer marketing, mobile apps, complete media analysis and, of course, organising all of the insights into understandable reports.

5 Ways To Accurately Measure Your Brand Awareness

Brand awareness means being known by consumers: how well they know and recognize your brand. This notoriety plays an important role during the act of purchase. Faced with several competing options, it is she who will influence the final choice of the consumer.

The challenge for brands is to increase and continuously improve their notoriety with their targets. But to be able to improve, you must first know where you are. How do you measure the reputation of your brand in the digital age?

Here are 5 methods to help you:

1. Conduct a Market Study

Surveys and consumer surveys are the most traditional ways to measure your reputation.

By organizing focus groups or questioning random people, you can determine your spontaneous and assisted awareness:

  • The spontaneous notoriety : to the question “Which brands of this market do you know? The spontaneous awareness rate is the percentage of people spontaneously quoting yours. We also speak of top of mind notoriety if your brand is cited first.
  • Assisted awareness : The awareness  rate is the percentage of people who recognize your brand from a list of brand names.

You can also send this type of survey by e-mail to your customers, or include in your contact forms the question “How did you hear about us? – this will give you a first glimpse of your brand awareness.

2. Measure Your Notoriety on Social Networks

Social networks are an exchange space where many exchanges are linked to the brand. Internet users ask for recommendations and others criticize their latest purchases publicly. It is therefore a place of first choice to measure your notoriety.

Follow your mentions

When people spontaneously mention your brand, they generate what we call earned media.

These mentions are important to follow to understand your brand awareness. Indeed, this type of content is extremely rewarding because it is spontaneous and can have very positive effects on the reputation of your brand.

Some brands, like SodaStream, encourage their consumers in this sense.

The more mentions you have, the higher your brand awareness will be.

Bonus Tip: to have a complete vision of your mentions, be aware of mentions of your brand that have tagged you (like “@Meltwater“) but also the messages where your brand is simply quoted (like “Meltwater”).

Track your social networks

Your reach gives you an idea of how many people are exposed to your social media mentions.

On social media, the potential reach is measured by the number of subscribers of the people who mentioned you.

By following your reach, you will be able to see how many people your brand name or hashtag has reached.

social media reach awareness measure
Example: Nike’s Twitter Account Scope

By comparing your reach to your number of mentions, you will also be able to spot if influencers mentioned you spontaneously.

For example, on the graph above, one realizes that Nike’s Twitter account has reached a reach of over 98 million people by the day of October 7th. Analyzing the mentions of that day, we realize that the brand has been mentioned among others by Kevin Hart, famous American humorist, and the National Football League.

Measure the engagement rate

The commitment defines all the interactions that users can have with content on social networks: likes, reactions, sharing or comments.

By following the commitment of the publications which mention you, you will have an indication of the effectiveness of your notoriety, if this one pushes your consumers to the interaction.

Analyze the feeling of your mentions

The mentions give you a quantitative overview of your brand awareness. But a brand can also talk a lot about it negatively, which is not the ideal.

That’s why it’s important to follow the sentiment associated with these mentions. The feeling can be positive (if a user recommends you for example), negative (if we criticize you) or neutral (if we just share your latest news).

If you notice an unusual number of negative mentions, analyze their context to understand what caused these reproaches.

Also, in case of many positive mentions, try to know what is at the origin, to amplify these mentions.

3. Measure Your Reputation via Your Website

Track direct traffic

Direct traffic indicates the number of people who directly access your website, without going through the search engines: by directly typing the URL, via their favorites or through an email or offline document.

You can measure this indicator directly on Google Analytics in the Acquisition section.

Traffic measure brand awareness

If your visitors are able to come directly to your site without searching for your name or product, this is a good sign for your brand awareness.

Track the search volume of your brand

The search volume tells you how many times people searched for your brand on Google.

You can get this information through the Google Search Console , which will tell you how many times your name has been searched, and how often people have clicked on your site.

google search measure brand awareness

For example, our brand name is pretty well positioned, however we still notice that many people call us “Melwater”.

4. Measure Your Reputation in The Media

The press and blogs can have a huge impact on your brand awareness and present different indicators to follow.

Track your press fallout

As with the mentions on social media, the number of articles is the indicator at the base of the measure of your notoriety in the media.

You can follow each of your press releases, via a PR Distribution Tool platform, and sort them according to their quality (feature article, quote) or their subject (product, direction, innovation).

Measure your media reach

The media reach refers to the number of people who have potentially seen the article. Scope is measured from the monthly audience of the site where your article is published.

This figure can be estimated via audience analysis tools like SimilarWeb, or directly from a media monitoring platform.

Comparing volume and scope allows you to analyze the quality of the sources relative to your target.

measure brand awareness reach and volume

For example, if you have a lot of articles about your new campaign but from unskilled sources, and two or three articles about your new product in very good sources, you will reach more people with this new product.

5. Compare Your Reputation

Measuring your brand awareness is the first step, then it’s important to compare it to your competitors to see if they are ahead of you or not.

For example, consider your company’s social media mentions to measure your brand awareness. Imagine that they increase by 15% during the month. It looks pretty good, does not it?

But perhaps a market-related event has inspired this sudden spike in discussions across your industry, and your competitors have seen their coverage increase by 30%. What seemed like an indicator of growth suddenly turns into a warning signal once connected to your market.

To effectively compare your reputation with that of your competitors, you can use for example the share of voice. This indicator will show you at a glance your position compared to your competitors, comparing the media coverage or social networks of each.

Finally, it is important to be able to compare your performance to yourself. By analyzing your results from one month to another or from one year to the next, you will know if your efforts are going in the right direction.

All these different methods of notoriety measure will allow you to get a good idea of the popularity and perception of your brand.

But measuring is only a first step, the important thing is to be able to deduce a plan of action. Is your brand awareness up to your expectations? What actions to put in place to improve it?

Want to get an insight into your brand awareness in the press and social media? Request a free demo of Meltwater’s media intelligence platform and discover what your brand awareness really is.