5 Strategies To Improve Your Facebook Ads Conversion Rate
If you’re not running Facebook Ads, you’re missing out on a platform that hosts almost 3 billion monthly active users. Facebook Ads are STILL one of the most popular and effective digital marketing tools available today.
In fact, there are over 10 million active advertisers using Facebook Ads.
Woah. That’s a lot of competition.
That’s why optimizing your Facebook Ads is so critical.
You don’t want to waste that precious money of yours, do you?
Anyone who says Facebook Ads don’t work just aren’t running great ads or optimizing the buyer journey for conversions.
In this blog post I’ve compiled 5 ways to help you improve your Facebook Ads conversion rate and maximize your return on ad spend.
Optimize For Conversions
Let’s start with the basics:
You always want to be running a campaign with the campaign objective of sales.
Unless you have a very specific reason to run something else, almost all your campaigns should be optimized for sales and conversions.
When creating a new campaign, selects Sales as your campaign objective.
What is a Good Facebook Ads Conversion Rate?
Ok, before we get into how to optimize your Facebook Ads for conversions, it’s good to know what makes a good conversion rate. The answer…
It depends.
But according to Wordstream, the average conversion rate across all industries in 2022 is 9.21%.
Here is a breakdown by each industry:
There is no one-size-fits-all answer to what a good conversion rate for Facebook Ads is.
It depends on your industry, the type of goal you’re trying to achieve, and the budget you have available.
While it it’s good to know industry benchmarks, you should focus on incrementally improving YOUR conversion rate. If your business has a 3% conversion rate, focus on how you can improve that to 5%, and so on.
5 Ways To Improve Your Facebook Ads Conversion Rate
Now that you know what a good conversion rate is, let’s look at some tips to help you improve your Facebook Ads conversion rate and maximize your return on ad spend.
1. Do Your Customer & Competitor Research
Research should be the basis of all marketing and advertising. You can’t run high-converting Facebook Ads without research.
Here’s how to start:
- Use Facebook Ads Library to look at your competitors’ ads.
• Click the button’s on their ads to see their landing pages.
• Notice the benefits they call out. - Analyze customer reviews of your competitors products
• See what customers like and don’t like - Look at comments on your socials posts and ads, as well as those of your competitors
If you do the above, you should have a wealth of more information about how to speak to your customers AND stand out from your competitors.
2. Focus on Your Target Audience — Get Specific!
It’s important to focus on a very specific target audience when creating your ads.
Yes, literally when creating your ads.
I’m not talking about targeting within Facebook Ads Manager. I mean in your ads.
Speak to your target audience. For example, if you’re targeting fitness-focused young millennials in the US, you may start your ad saying:
“Are you about to hit your 30s and noticing your body feel achey after workouts?”
That hook calls out a very specific target audience and identifies a potential pain point for them.
Here’s How The Facebook Ad Algorithm Really Works:
Each ad creates a lookalike audience based off data signals.
What does that mean in English?
If someone clicks your ad and buys your product or shows interest in doing so, Facebook will recognize that and show that ad to more people similar to that person.
That’s why it’s so important to target your audience in your ad creative.
The more targeted your ads are, the more likely your ideal customer will click on it and convert. As that happens, Facebook will show your ads to similar people who are likely to convert.
3. Are Your Facebook Ads Really The Problem?
You can have the greatest Facebook Ad in the world with the highest click-through rate ever seen. BUT, if you have a bad landing page, you won’t see high conversion rates.
The job of your Facebook Ad is to get the click.
The job of your landing page is to get the add to cart.
Here are some tips to improve your landing page conversion rate:
- Match the messaging of the page to your ad: Use the same wording and images
- Optimize load times: No one likes to wait for a page to load
- Use psychology-based copywriting
- Point our your benefits, not features
- Speak to the customers’ pain point
- Sell the transformation that you product or service creates
- Make your call to action button relevant and exciting (a “Learn More” button isn’t as exciting as “Increase Your Conversion Rate Today”)
- Leverage social proof: showcase testimonials, reviews, and ratings
4. Test and Optimize Your Ads
Testing and optimizing your ads is key to improving your Facebook Ads conversion rate.
You can test different images, copy, and targeting options to see which ones perform the best.
You should also test different ad formats, such as carousel ads, single images, and video ads.
There are 13 different ways you can showcase one specific benefit of your product or service:
- Before and After
- Benefit Point Out
- Data-Led
- Educational
- Founder’s Story
- Product Benefits
- Product In Use
- Reply to Comment
- Testimonial
- UGC
- UGC Mashup
- Unboxing
- Us vs. Them
Different ad formats may work better for different types of campaigns, so testing is essential.
PS: if you want more information on the 13 different ways to showcase your product/service benefits, check out my Ultimate Guide on How To Create High-Converting Facebook Ads. It includes a swipe file of 300+ ads, all categorized by their concept.
5. Leverage Retargeting
I’ve always seen the highest conversion rate from retargeting campaigns. As long as your pixel and Facebook Conversion API are set up properly, retargeting is a great way to maximize your return on ad spend and improve your Facebook Ads conversion rate. Retargeting allows you to target people who have already interacted with your brand in some way.
You can use retargeting to target people who have visited your website, interacted with your ads, or taken other desired actions. This can help you increase conversions by targeting people who are already familiar with your brand.
Generally, these are people who just need a bit more incentive to make a purchase so I like to leverage testimonials and urgency-based calls to actions (e.g., discounts)
Measuring Facebook Ads Conversion Rate
Once your ads are running, it’s important to measure your conversion rate. This will help you understand how effective your ads are and allow you to make adjustments to optimize for conversions.
You can measure your conversion rate with the following formula:
(Number of conversions / Number of visitors) x 100
So if your Facebook Ad gets 5 out of 50 people to buy a product (5/10x100), that’s a 10% conversion rate.
You can track your conversions and conversion rate directly within Facebook Ads Manager. You can also utilize UTMs and use Google Analytics to track conversions and gain more insight into your campaigns.
Conclusion
Facebook Ads are a powerful tool for customer acquisition, but to get the most out of your campaigns, you need to be able to optimize for conversions. By understanding what a good conversion rate for Facebook Ads is and following the tips outlined above, you can improve your Facebook Ads conversion rate and maximize your return on investment.
