Here are five steps to take right now to improve Meta ad performance (Facebook and Instagram).
1. You need a creative testing framework. You can no longer run one or two ads for months at a time and expect them to work. You need to find your creative all-star team, cycle the creative monthly, and look for performance.
2. Test new creative approaches every month. You want to test us versus them, features and benefits, UGC, product, sales -- all of those elements will appeal to different people.
3. Target broad audiences. Broad audiences are age, gender, and location. Train Meta's machine learning algorithm to find your best customers, and this is the best way to do it.
4. Optimize to a lead or sale. Usually, that's when you're going to get the lowest cost per acquisition. However, here's the thing: If you're on traffic ads, you can start more consumer journeys, which relates to the next point.
5. Your CMO documentation. Look at your source of truth sales, the actual number of sales across the organization, and compare it to paid-media attributable sales. You can look for trends over time. For instance, 'When we turned on traffic ads on Facebook, we saw an increase or decrease in sales.' 'When we turned on lead or sales ads on Facebook, we saw an increase or decrease in sales over time.' This correlation helps you get a big-picture understanding of the things you can change across your paid media to help improve your sales across your organization.
