As per my experience, the majority of the advertisers face difficulty when it comes to consistency. After years of experience and around $1 Million spending on Facebook ads; I have identified that there are five key elements to Facebook success. The winning formula which has been derived is as follows:
Objective + Audience + Creative + Competitor Analysis + Pixel Health = Winning Formula
Selection of the right objective, creative & audience with healthy pixel and strong competitor analysis helps in creating winning campaigns. If any of the elements is missing in the ad; optimal results might not be achieved. Core, Custom & Lookalike (LLA) are the three categorizations for selecting the audience. The selection of the audience is again correlated with pixel. If the pixel is old and strong advertisers can create a lookalike audience to gain more value. Pixel also facilitates in generating data of most valuable website visitors that can be later used for remarketing.
Not all the creative & media formats respond best for the business. Testing of multiple Images, Videos, Carousel ads and other available formats; with different image dimensions, colors and video styling will help in finding the winning ad creative. Spotting the best creative requires patience and trial & test.
Competitor analysis is mandatory for any business to keep operations and cost under control. By keeping a close eye on competition; errors can be spotted that help a lot in achieving business goals. Successful and consistent campaigns have a blend of all five winning ingredients.
