Facebook exists to “give people the power to share and make the world more open and connected.” This is easily done now that Facebook provides its own advertising options that are manageable by individuals. However, with the vast extent of clutter out there, it is no longer enough to just create an ad and allow it to circulate – you need to utilize different tools and practices in order to fully maximize your output.
In order to successfully optimize Facebook ads, you need to understand the three R’s: reporting, results, and reallocation.
Reporting – Generating reports enables companies to gauge the success of various ad campaigns, view click through rates, and the cost per click.
Results – Facebook provides responder data, which can be used to create ads that cater more to the demographic that engages with your brand. These custom-tailored results may also help increase the relevancy of your ads.
Reallocation – Not getting the response you would like? Pause your ad campaign and reallocate the budget to a more successful campaign.
Make sure to monitor ongoing management and optimization of your ads. One helpful tip we found on Facebook is to “refresh your ad’s creative any time you see a decrease” in activity. We couldn’t agree more that “even the best performing ads should be refreshed to maintain their good performance.”