How we used Facebook Ads to Scale our Startup Business

Facebook recently reached out to Quad Lock and offered us the opportunity to tell our story.  The video touches on how we started the Quad Lock business and how we’ve used Facebook Ads to bootstrap our startup from an idea into a multi million dollar business with products now sold in over 100 countries.

See the full case study here: https://www.facebook.com/business/success/quad-lock

Quad Lock Fb vid

Video Post: https://www.facebook.com/robyward/videos/10153600172920815/

My Top Facebook Marketing Tips

This isn’t a how to of Facebook Ads, but rather a few basic concepts that will help you get started on the right track with Facebook ads.  The Facebook Ads platform is getting better and easier to use all the time, but the secret to maintaining high ROI campaigns really comes down to a solid logical approach.

  1. No Assumptions – Don’t expect to make the best performing ads straight away, in fact don’t expect that you will even know which ads will perform the best. Test with lots of different combinations of copy, images and thumbnails (for video).  The crowd will quickly tell you which CTA (call to action), image, thumbnail, offer….. they like to interact with the best. Use both Relevance Score and CTR to track which ads are performing the best and turn off the ads that are performing the worst. CTR is an abbreviation for Click Through Rate, it’s the number of clicks on an ad divided by the number of times the ad’s been shown and expressed as a percentage. Facebook has now introduced a Relevance Score, see more info here https://www.facebook.com/business/news/relevance-score .
  2. Measure Everything – Measure everything you can, set up conversion tracking pixels from day one to help monitor your ROI (Return On Investment) through knowing your Cost Per Acquisition (CPA). A conversion tracking pixel is a piece of HTML code that places a blank 1×1 pixel on any page on your website. When a visitor lands on that page the pixel will ping Facebook and record their visit and attribute the “sale” to the ad that they clicked on, if any. You will most likely be adding a conversion pixels to a “thank you” page on an e-commerce store or signup form on a blog.  This way you’ll know exactly what return you’re getting for your spend. Also work out what you can afford to spend to acquire a customer and continually measure and learn the best way to advertise while hitting your CPA goals.
  3. No Budget – Don’t think you don’t have enough budget, you can start learning with just $10! You may need more to start really making an impact in your business, but you can start to learn what’s going to work and how best to spend your money with as little as $10. I wouldn’t recommend even having a budget for Facebook ads, I’d simply set out to spend very little at first until you’ve worked out a positive ROI campaign (CPA below your CPA Goal) and then start to throw fuel on the fire by increasing the daily spend.  This is when budgets can be limiting, for example if I worked out how to turn $100/day ad spend into $500/day in sales the next day I’d be spending $500/day aiming for $2,500/day in sales and I wouldn’t want to limit my daily sales by being limited to a daily budget.  Instead scale up until you hit a point of diminishing return where your ROI isn’t acceptable and then just back of the spend and find the sweet spot.
  4. Laser Target – Keep you targeted audience small as this will give you the best ROI.  Try to imagine your perfect customer, the one that’s the perfect fit for your product and service.  Once you’ve identified this person spend some time profiling exactly who they are and what they like.  After all the beauty of Facebook is that you don’t just have to target based on Age, Sex, Geo Location although that’s a good start. With Facebook targeting you can start to really drill down into what interests and behaviours that person would have.  You’ll notice that as you start to “laser target” your perfect customer the Audience size will reduce dramatically and this means you’ll only be spending your money showing your ads to the perfect customers, the ones that are most likely to convert. Use the Facebook Relevance Score as good way of monitoring your targeting a high score means your on track and a low score means you need to tweak you targeting/message.
  5. Monitor Often – Facebook ads aren’t a set and forget deal, it takes constant attention to keep your Audience engaged and that can be for a few reasons. One of the main reasons is Ad Fatigue, ad fatigue is when the same person has seen your ad so many times that they start to ignore it.  This can be monitored through Facebook Ads Frequency Rating.  Frequency is the average number of times your ad was shown to each person, as this number grows you will most likely see the whole campaigns performance drop away. This is where you will need to tweak what was working to get the ads performing again by keeping the audience interested.  For example if you were running a video ad and started to see the performance of the ad drop off and the frequency rating rise you might change the thumbnail of the video to make it look new and gain some more attention. Either way Facebook Ads is a continuously changing landscape and it’s worth the effort to master, so stay involved and monitor your campaigns perforce as often as possible.

Good Luck – Rob

 

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