Return On Advertising Spend, or more commonly known as ROAS, is a metric used for measuring the effectiveness of an advertising campaign. Paid Social marketers live and breathe ROAS, using their blood, sweat & tears to achieve the optimum results. But, that’s easier said than done.
We spoke to our Paid Social team here at DMT and asked them for five quick tips for achieving the best ROAS. Here’s what they came back with:
Use LAL audiences in a smart way
Use Facebook’s tool to target a ‘lookalike audience’. Basically, Facebook will create audiences to target, which are the most similar to your current audience. You can then target the nearest 1-10%, depending on the population size and how specific you want to be. With 1% of people being the closest match and 10% being the most broad.
Filter down your audience interests and demographics
When running and testing ad sets, it is a good idea to view the charts that are provided to gain insights on the demographics of the audience. This can show you who is engaging with the ad, and which part of the audience is clicking, landing on site, and ultimately purchasing. Within these charts, you can see link clicks and reach. If the link clicks are more than the reach, the cost per click will drop for that age range.
Keep copy short & concise
It is extremely difficult to create compelling ad copy whilst using the small amount of characters. Fortunately, we have a great content team that does this for us. Potential customers won’t normally stop to read all the ads presented to them, but it’s essential that any copy they do read is accurate and engaging.
Refer back to analytics
After a campaign has been running for a while, Facebook will have gathered enough data to enable you to view the analytics tab. This allows you to delve further into the detail of who is responding and how they are engaging with that campaign. This page provides you with more detail on who is viewing the content, adding to cart, and which cards are performing the best. They do this by showing which creative (images/videos etc.) have the highest click-through rate.
Ultimately, you may have an abundance of ideas and potential audience interests and ideas, however, the real challenge is testing everything. This is truly where you will find out what works for what brand and also gives you a head-start for adjusting your budget and allocating it to the best performing areas.