Facebook ads aren’t overrated. If anything, they are underrated. Because when done right with the proper Facebook advertising strategy, they can change your business. They are already working for small and big businesses in all sectors, so they should work for you too.

Being the world’s biggest social media networking site, Facebook is constantly working on improving its ad platform. This means, partnering with Facebook for your advertising needs is a safe deal. You will not lose your money if you take the right approach and spend time understanding their ad manager.

Ways on How to Optimize Your Facebook Advertising Strategy

#1: Target for Maximum Returns

The heart and soul of a successful Facebook ad campaign is its targeting. To get the best return on your investment, you must leverage the maximum potential of the targeting options Facebook offers you. Or else you’ll end up burning a hole in your wallet.

Target Your Customers

When running a Facebook ad, you want to have the highest click-through rate so that you’re not losing money on the campaign. This means you should first try and target people who are most likely to click on your ad: your existing customers. That’s right, these people have already bought from you, so the chances of them buying again are much higher.

Target Your Fans

Facebook is a great place to connect with your target audience and get them familiar with your brand by sharing regular updates with them. The best and the easiest way to do so is by getting more and more people to like your official Facebook page. This lets you stay in touch with them, and you also get to show them relevant ads if you target them.

#2: Leverage Different Ad Types

Social media advertising is growing by leaps and bounds, and there’s no doubt that Facebook is leading the way. While there are multiple reasons as to why Facebook ads give great real-world results, one of the most obvious ones is the fact that you get variety. Something hard to find on other advertising platforms.

Also, what makes Facebook ads truly different and remarkable is that they tie in with your business and marketing goals. In other words, the results you get with Facebook ads are easier to measure and improve because they’re driven by your goals, such as:

1. Generating qualified leads for your business
2. Getting downloads for your new app
3. Gathering feedback for your product or service
4. Running targeted surveys to learn more about your market
5. Having people sign up for your webinar

What you can do with Facebook ads is only limited by your imagination. Which is why it is so crucial to have a solid Facebook advertising strategy up your sleeve, it just makes your job easier.

Let’s see what all you can do with Facebook ads:

1) Carousel Ads

Facebook ads are no longer static. With the introduction of Facebook Carousel ads, you can expect to pay a smaller fee for a higher conversion rate or a better click-through rate. These types of ads are not only interactive but are also mobile-friendly.

2) Video-Based Ads

The only reason you find so much video content on the web today is that video marketing is on the rise. People these days spend more time watching videos than reading plain text. It’s how many of them are consuming online content. Visual content is slowly but steadily winning the game.

3) Lead Generation Ads

In the earlier days of Facebook advertising, the only way to generate leads was to create your landing page and send traffic to it. Nowadays you can run ads where you collect lead information right on Facebook, without having the users leave the social networking site.

#3: Set Up a Conversion Funnel

One of the biggest reasons to invest in Facebook ads is to ultimately convert relevant Facebook users into customers. However, this won’t happen right away. Your Facebook ad needs to be leveraged the right way before you can have people buy from you.

#4: Focus on the Right Metrics

Marketers can get confusing results with Facebook ads, especially when they focus too much on the wrong type of metrics. These metrics look good on paper, but they don’t have any real value in the business sense of things. Which is why they call them ‘vanity’ metrics.

#5: Don’t Underestimate the Power of Testing

Your Facebook advertising strategy may be well laid out and implemented. And you could have done all the needed homework and also have taken calculated risks while starting a campaign.

#6: Use Facebook Ads in Conjunction with Content Marketing

When you combine relevant and high-quality content with Facebook ads, you can get amazing results. And since many businesses on Facebook are trying to convert their cold/warm leads into sales.

#7: Analyze Your Results

When you’re already running a Facebook advertising campaign, you should carefully analyze the results you’re getting. You need to keep a regular tab on your campaign and analyze the results to see if there is a problem or if it is performing exceedingly well. Either way, knowing how (and if) you are progressing is crucial for the long-term success of your campaign.

#8: Think Long Term for Your Facebook Advertising Strategy

To create a strong Facebook advertising strategy that survives the test of time, you should think long term. In other words, the ads that you run should reflect your long-term strategy.

It’s easy to create and run ads without focusing too much on how your audience will perceive you in the long run. But given that you are running ad campaigns regularly, they will have a perception of you and your brand.

So focus on creating ads that not only help you achieve your marketing goals but also let you connect with your target audience. These ads are a powerful tool to build a real relationship with your audience and improve your brand image.