When it comes to social media advertising, running a Meta ad campaign is often one of the first platforms that advertisers consider. With that said, Meta ad campaigns can be tricky to pull off successfully due to changing parameters, a challenging interface, and making sure your ads adhere to community standards (sometimes innocent mistakes happen!). Add to the thought process that Meta’s platforms, specifically Facebook, are antiquated or lagging in popularity against other platforms, and you may find that some advertisers wonder if the juice is worth the squeeze.
The reality is that running a Meta ad campaign doesn’t have to be as difficult as it is made out to be, and advertisers can end up with good results from running social media advertising campaigns. Keep reading to learn how you can have a successful Meta ad campaign and measure its success with five key metrics.
Is Social Media Advertising Still Profitable?
First, let’s be clear. Social media advertising, and specifically Meta ad campaigns, is absolutely still profitable! Expert Neil Patel relayed that Meta made over 114 billion dollars in advertising revenue in 2021 alone, which means there is absolutely money to be made with an optimized Meta ad campaign. So with the right plan for social media advertising, you can expect to make money with your Facebook ad campaign, as well as with other Meta ad campaigns.
Is It Possible To Compete In Facebook Marketing Services?
We would be remiss if we didn’t acknowledge that Facebook is a saturated market. After all, there are about three billion users on Facebook alone. However, that just means that there is a wider audience available to accept your advertising because data shows that it is still possible to compete in Facebook marketing services.
Those who invest in targeted ads that ask users to sign up for something instead of directly purchasing something often have the best success. Additionally, it is important to A/B test ads to put the highest-performing ads on the platform. With any type of social media advertising, there are a lot of factors that can impact the performance of an ad campaign, but when done right, it is possible to compete in the Facebook marketing services arena.
What Are The Average Costs Of A Facebook Ad Campaign
The costs of the average Facebook ad campaign vary greatly because the cost of advertising depends on the goals of the Facebook ad campaign. How many clicks do you want to secure? How large of a reach do you want to capture? A social media advertising campaign on Facebook could be as little as a dollar or even go into hundreds of dollars (or more) depending on how much an advertiser wants to spend. Maximize your Facebook ad campaign budget by tracking key conversion metrics.
What Are The 5 Important Conversion Metrics For Tracking Success In Meta Ad Campaigns
To make sure that you’re not wasting your Meta ad campaign budget on ads that won’t work or that underperform, you’ll want to make sure that you are paying attention to conversion metrics. The five most important conversion metrics for tracking success in Meta ad campaigns include cost per click, optimizing your click through rate, knowing the volume of impressions your ad makes, cost per conversion, and optimizing ads to your target audience.
1. What is CPC
CPC stands for cost per click, which basically means how expensive it is for someone to click on your ad. Facebook ad campaigns have varying CPCs, which means that when someone clicks on your ad, it could be either very costly or inexpensive, depending on where the click takes users, what day of the week it is, and even what time of day it is. Optimizing this conversion metric to get the biggest bang for your buck with PPC advertising and will help your Meta ad campaign be successful.
2. How to Optimize My CTR on Meta
Your click-through rate will tell you how many people clicked on your ad versus the total number of people who saw your ad. The CTR rate is a valuable conversion metric because it can give you intel on whether your ad is capturing the right audience.
3. Do Impressions Matter?
Impressions are basically the amount of people who see your ad. This conversion metric is important to pay attention to because if you don’t know how many impressions you’ve made, you won’t know how many people actually see your Facebook ad campaign.
4. Understanding Cost Per Conversion & ROAS
In order to achieve success in your Meta ad campaign, you will need to fully understand the cost per conversion so that you can get a solid return on your ad spend. You don’t want to continuously through money at costly clicks that don’t bring in customers. Paying attention to this conversion metric can help you succeed.
5. Leveraging Demographics Data
When you run a Meta ad campaign, you will want to make sure that you are targeting your ads so that they will reach customers who will take the action you want them to take, whether that is subscribing to an email, purchasing something, or something else. Additionally, you don’t want to waste ad spending on clicks that won’t fully convert. Leveraging demographic data to reach the right audience is a conversion metric you definitely want to keep in mind with social media advertising.
How to Improve Your Meta Campaigns
Failed Meta ad campaigns means wasted money. Maximize your social media advertising budget and improve your Meta ad campaign performance by utilizing strategies to improve conversion metrics. If you’ve tried these and not found success, it may be time to contact a social media advertising agency.
Get Expert Help With A Facebook Ad Campaigns: Contact a Social Media Advertising Agency
If you’re ready to maximize your Meta ad campaign and need help with social media advertising, reach out to us at The Creative Momentum We’re an Atlanta social media advertising agency that can help you succeed with your Facebook ad campaign goals. Contact the social media advertising experts today to get started!