Facebook recently hosted a group of marketing professionals, who met to discuss the best practices related to Facebook performance marketing and ways to boost conversion rates, as well as determining how much money is spent in the process. The experts identified a few simple strategies which could help companies improve their Facebook performance marketing activities.
Higher conversion rates could be achieved by placing domain ads in different places on your Facebook page; at present, advertisers are predominantly placing ads on the right side of the webpage. News feed ads are actually around eight times more engaging than ads situated on the right side of the webpage.
News feed ad formats are also essential to any campaign. Ads with photos are much more likely to attract users’ attention and are designed for the news feed; they are most suitable for short messages and URL placement. Sponsored stories, on the other hand, are another way to reach the user’s news feed as they are coming from friends because of interaction with a certain page, app or event.
Targeting the right customer base is crucial for businesses and Facebook is one of the best places to do this. Custom targeting works very well when re-marketing, as companies can use the information they already have about their customers offline. Native targeting uses common interests to find users on the social network who might be interested in the company’s business.
Facebook’s most common bidding rates are cost-per-impression (CPM) and cost-per-click (CPC), which are both appropriate for basic marketing campaigns, but the social network recommends the use of its optimised CPM bidding, if businesses want to force targeted users to take a particular action.
