A dozen different ad formats are available on Facebook and thousands of possible targeting parameters. You can reach highly targeted segments of your audience by mastering your Facebook targeting strategy on the network that Americans spend 40 minutes per day on average.
You probably haven’t heard of these Facebook ad targeting strategies. A/B testing Facebook ads is a strategy created specifically for finding the best strategy.
1. Make good use of Facebook Audience Insights
The Facebook Audience Insights tool provides a wealth of demographic, interest, and location data on your Facebook audience. What you need to do is:
- Select a Facebook audience from the Audience Insights dashboard. Alternatively, you can choose your current followers.
- Select a demographic that best fits your target market—information about their interests, location, job titles, language, etc.
- Learn what your target audience consumes on Facebook. Which pages do they follow? Which content categories do they prefer?
You can narrow down your audience using the left-hand control panel until you find a profitable niche you want to sell to. Play with the options on the left, and you’ll get there. Save your audience when you’re done.
2. Utilize Facebook Custom Audiences
You can submit your audience to Facebook Ads Manager through email lists, phone numbers, landing page visitors, etc. Facebook Custom Audiences is this feature. You can customize your targeting by creating custom audiences to put your ads in front of the right people. For example:
- You can upsell your existing customers by sending them upselling ads.
- Ads that target new prospects will not be sent to existing customers.
- Retargeting visitors to your website so that they have a second chance to engage with you.
- Segmenting and testing different hyper-targeted ads.
3. Expand To A Lookalike Audience
When you have a solid Custom Audiences strategy in place, Lookalike Audiences are a logical next step. It is still possible to mirror your Facebook fan base if you do not have an email list or phone number. Create audiences that look like your targets so that you can expand beyond your current reach while targeting people with highly specific profiles. However, you can still create a Lookalike Audience using a tracking pixel if you don’t have a list or a big enough Facebook following.
You can make your audience larger (more broadly) or smaller (more specific and similar to your original audience) based on the audience you’ve chosen. On the most similar level, Facebook will show you the top 1% of users in your target country who share your traits. As an alternative, Facebook advertises to the 10 percent of users in your target country that is most like your target market when optimizing for reach.
4. Analyze Facebook Relevance Metrics
You should know that relevance is a key factor in the success of your ads on Facebook since the company considers the relevance of your ad before delivering it.
How do you measure the relevance of your ads?
Facebook advertisers can diagnose underperforming ads. Three key metrics measures relevance:
-A quality image or video.
-Engagement: How your audience reacts to your ads.
-A conversion is how many people act on an advertisement.
5. Analyze Recent Purchasing Patterns
To maximize conversion rates, it is best to segment an audience based on their purchasing behavior.
- You can narrow down your audience in Facebook Ads Manager by selecting the last purchase category in the behavior section. Next, identify users who have recently bought a similar product or service to what you are advertising now.
- You could reach out to people who recently bought an engagement ring if you rent or sell furniture for events (like weddings).
- In contrast, you should expand your market by targeting people who buy makeup frequently if you sell makeup. Etc.
- It’s a win-win situation when you put the right products in front of them – you’re doing people a favor.