Consider this a Free Fire Inspection for your media budget.
By following this checklist, you will be able to asses if your business/team are using your media budget wisely on Facebook Advertising or burning cash.
Do you have the Facebook Pixel installed and tracking setup correctly? This tiny piece of code is critical to running successful campaigns…. It collects all of the data and more that you require to make smart decisions on your campaigns. If you have never heard of the Facebook Pixel or don’t have it installed, save your money until it’s in place.
Re-targeting audiences. Have you segmented your customers into audiences depending where they are in their purchase journey? If you are only targeting a potential customer once, there is a 98% chance of failure.
Daily account management. How often are your team in Facebook’s Business Manager ? (if you have never heard of business manager this is another red flag ?). Media buying on Facebook is an auction process, some days attention is cheaper than others. Being agile in the auction process is a must.
To check how active your team are – load up Ads Manager. Select all of your active campaigns and select “See History Changes” the ? Icon in the right tool bar.
One final recommendation… We strongly recommend not running any Facebook campaigns unless…
You have a validated product. If you are launching a new product to market, wait until you have purchases coming through before spending valuable cash flow on Facebook Advertising. If you are unable to leverage existing assets (Mailing list , Social Media Following) be prepared to allocate resources to brand awareness.
And finally…. Facebook advertising is not always suited to every product. Due to competitiveness in the auction process , it is increasingly difficult to be profitable with low priced items once you factor in Product Margins and advertising costs.
Any questions ? We are always excited to discover how we can help business grow using Facebook Advertising.
Leave us a comment below, send us a DM or take a look at our 21 Day Facebook Ads Trial ?