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How Can I Maximize the Performance of Facebook Video Ads
More than 500 million users spend about 100 million hours watching videos on Facebook, DAILY! So it can be frustrating if your Facebook video ads do not perform as per your expectations and you wonder that how do you make effective video ads on Facebook? But don’t worry… with the right set of strategies like setting goals, establishing metrics benchmarks, and observing the Facebook video ad text limit, you can maximize the performance of Facebook video ads to increase your engagements. Let’s find out more in this post.
SIGNIFICANCE OF FACEBOOK VIDEO ADS
So before going into the detail of the ad strategy for Facebook, you have to know the benefits of Facebook video ads to understand why you need them in the first place?
Facebook is one of the world’s most popular social media platforms. It got launched in 2004 and the rest is history. Currently, Facebook’s share of growth is approximately 38% of all the ad revenue generated online in the U.S., and because Facebook will continue to dominate the ad industry shortly, it is the right time for your business to grow its presence on Facebook through engaging video ads.
SETTING THE END-GOALS
Once you’re ready to launch the Facebook video ads for your brand, consider your end-goals as to what you want to achieve for your business with a single ad campaign on the platform? For example, an eCommerce store would have a goal to maximize conversions while a service website owner would be generating leads with autoplay video ads.
Here is one of the Facebook video ads examples posted by Samsung on their Official Facebook page, but it will not be feasible for a small-scale mobile brand.
Samsung is a global market leader in the smartphone industry. It is indeed a luxury for anyone to have one of their Galaxy series devices. For a brand like Samsung, this can be considered as the best video format for Facebook ads i.e. marketing their Galaxy Tab S7 therefore, will instantly get views & likes within seconds.
However, if a small-scale mobile brand runs a similar ad, it is risky. The video has no mention of the brand name till the last nanosecond. This kind of strategy can be a waste of both money and time for a small business. Most people may ignore it within the first 3 seconds when they can’t know as to which brand the mobile device belongs to?
The above discussion is not a demotivation for a small business, instead, it’s highlighting that to have a successful ad strategy on Facebook, it’s not necessary to carbon-copy the ad style of reputed brands. Instead, your video ads can still go viral if you target your niche from your customer’s perspective. Here are some of the Facebook video ads examples of Spotify:
You can see that Spotify is marketing their audio podcast services in a very simple but effective and engaging way. They have carefully picked the colors and graphics for their ads to make sure the customers get past the awareness stage and go further into consideration and conversion phases.
With the above discussion, we can derive that there is no uniform set of Facebook video ad best practices. However, they can have 3 uniform goals which are also the 3 phases for running successful Facebook video ads.
SETTING UP YOUR GOALS FOR FACEBOOK AD CAMPAIGNS
Awareness:
This is the first goal/phase of your video ad. Here you are educating your target market about your products & services. Helping your customers to know about your brand.
Consideration:
Getting into the 2nd phase of consideration brings you closer to generating leads with autoplay video ads. The goal here is to bring the customer traffic towards your website or get contact form submissions.
Conversion:
The final goal is to target the cognition of your customers to make a purchasing decision, for instance, subscribing for a test trial of your services or proceed to checkout. This is what most small businesses want to achieve through Facebook video ads and now they know how they can.
So after setting the goals for your Facebook ad campaign, there are some essential metrics to check whether your video ads are performing as per your strategy or not.
FIVE IMPORTANT METRICS OF FACEBOOK AD CAMPAIGNS
Frequency:
The ads can lose their effectiveness if they are shown too often to a potential customer. Hence, it’s important to measure the ad frequency per user.
Conversion Rate:
This metric is what many small businesses will want to see on a higher side. It indicates how many people took the action by either clicking the “Proceed to Checkout” button or making a contact form submission.
CPC and CTR:
Want to know how many people clicked on your ad? This metric is for you then. It gives you an insight into how many potential customers were interested to know more about your products & services after watching your Facebook video ads. It’s not the same as conversion rate since not every potential lead makes a purchase.
Cost per Action:
This metric will help you in knowing the advertising cost of sales. With this information, you can effectively price your ads.
Spend and ROAS:
If you see your ROAS on a higher side in this metric, it means that your investment in Facebook video ads is paying you back for good.
These metrics will set a benchmark upon which you can effectively test your ad campaigns.
TESTING THE VIDEO ADS
Before launching your Facebook ad campaigns, it’s essential to set up a testing system to ensure that they perform as per your marketing strategy. One thing you should make sure of is that the text of your ads should be compliant with the Facebook video ad text limit i.e. 125 characters. Other than this, you need to counter-check your metrics with the established benchmark.
To get comprehensive marketing data about your ads performance, you can use tools like Ad Espresso, it’s a very convenient and easy-to-use tool to get a comprehensive insight about all the metrics explained above.
And this is how you can maximize the performance of your Facebook video ads. Let us do the hard work to make it easy for you & your business. Subscribe to our Social Media Marketing services to get the best video format for Facebook ads and enhance your user engagements, get optimal conversions, and ROAS on your Facebook video ads.
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