hether inexperience or a lack of attention, many marketers and businesses still make simple mistakes when managing their ad campaigns. Below are eight ways to prevent the most common mistakes.
With anything in business, there’s value in setting clear objectives. As always, these objectives should be SMART (Specific, Measurable, Attainable, Realistic, and Time-Specific). Ultimately, what are you trying to achieve from a campaign? If you don’t ask this question first, you might pick the wrong objective during setup.
Are you looking to boost the traffic to your website? Are you promoting a new product and trying to generate exposure for this new product? Do you want to generate leads, sales, and conversions from the ad campaign?
Once you know the objective, it’s much easier to set the campaign up accurately.
Every year, businessmen and women new to online advertising get caught up in the ad creation cycle. They create one ad, get the campaign up and running, and immediately feel the urge to create another one. Within weeks, they have far too many ad sets, campaigns, and ads. You might think that this is a good thing, but there comes a point of diminishing returns. In other words, all the new ads you develop take away from performance and efficiency rather than adding to it. Ever hear the phrase ‘too many cooks spoil the broth’?
If you have dozens of ad sets and hundreds of ads, it’s time to consolidate your audiences. By doing this, you have a larger budget per set and Facebook/Google can reach the targeted CPA faster. From here, it’s then possible to scale as you want.
Eventually, you’ll have the very best audiences in a couple of ad sets and a handful of ads. Remember, A/B testing allows you to compare creatives and ad features (this is more effective than simply creating another ad set or another ad). Over time, you can drop the features that don’t work and keep the ones that do.
When advertising on Google or Facebook, far too many businesses focus on themselves. Why do this when it’s your audience that contributes to all the metrics? If you can relate to this way of thinking, start considering your audience more in the ad creation stage.
On both Google and Facebook, there are hundreds of millions of users. Without careful consideration of your audience, your ads will get lost in the sea of wasted ads. At the latest estimates, there are 50 million business pages on Facebook. A significant percentage now pay for advertising, and a small number of these are direct competition for your own business. If you don’t target the audience with good advertising, your competitors will.
What do we mean by considering your audience? Well, we can break it down into a couple of different aspects:
Therefore, knowing your audience helps to get your ads in the right place before then encouraging this audience to take the action you desire. With no consideration of the audience, it’s likely the ad will go to people who aren’t interested in your brand. If it does end up with the right people, the lack of engaging content won’t see them go any further.
For many years, the attention of advertisers has been on cost per lead. We understand that you want to minimize the cost per lead and make your advertising budget go further. However, the problem with this metric is that it’s subjective and will only ever reduce to a certain value. Instead, we recommend focusing on earnings per lead.
Just because an ad has a higher cost per lead, this doesn’t mean that it’s contributing less to a business than an ad with a lower cost per lead. For example, consider the following two campaigns:
When focusing on cost per lead, you’ll feel compelled to close the second campaign because it costs twice as much as the first. After digging a little deeper, you’ll actually see that the earnings per lead are nearly THREE times higher. When managing ad campaigns, don’t base your decision on cost per lead alone.
As a business, it’s natural to look sideways at the competition every so often. In fact, we would go further and say that it’s natural to look at the competition for research purposes. Especially in advertising, it’s interesting to see what they’re doing, what’s working for them, and what’s not working. Either way, the last thing you should do is just copy competitors. Even when it’s tempting because a competitor is doing something right, there are two problems with copying the competition:
For a healthier relationship with the competition, compare your own advertising to that of competitors from time to time. Rather than doing the same thing, this comparison can actually be used to ensure that you’re differentiating. Your advertising should offer something similar to the competitors but in a way that provides your service with a unique selling proposition.
In many campaigns, you probably have an aim to get people to click through to your website. It’s all well and good getting your campaigns to a point where they generate lots of clicks, but this is all wasted if you forget to look after the website. Here are some tips for maintaining your website:
It’s surprising that a percentage of advertisers still set their campaigns and then leave them for days, weeks, months, and even years. Whether on Google or Facebook, you have a plethora of analytics tools to assess performance. With data covering every point, analysis helps to continually make sure our ads are in the right place, you’re bidding the right amounts, and that the most effective creatives are being used.
Often, advertisers are compelled to create new ad campaigns rather than managing the ones they have. Again, it’s better to have a handful of performing ads than dozens of failing ones. This links back to the very first tip; go slowly. In the coming weeks, try to focus on improving all the campaigns you have rather than setting up new ones.
Finally, you can prevent mistakes by learning to be patient with ad campaigns. Too often, we see marketers get frustrated at the lack of performance with an ad campaign. Before it has even had a chance to shine, they abandon the campaign and start another one. When it comes to advertising on Facebook and Google, it’s not something that will provide instant gratification. Although it might seem frustrating, it’s sometimes a waiting game. For those unprepared to wait, they will never see results because the campaigns aren’t active long enough to achieve them.
With this guide, you now have eight ways to prevent mistakes when managing ad campaigns. Don’t forget, some amazing automation tools are ready and willing to help whenever you need it. With the right platform, it will use artificial intelligence to optimize targeting, bidding, A/B testing, and more!