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How to get the best return on investment from Facebook ads

How to get the best return on investment from Facebook ads

Facebook has been a platform which has opened the door to those looking to advertise their services in exceptional ways. Digital ads allow you to reach more of your customers at a cheaper cost, but bear in mind, it’s still a long-term investment just like any other form of advertising.

Results that you want may not appear right away, but the goal should be to aim for the optimal return on investment (ROI) from your Facebook ads.

These steps should help you to achieve that goal.

Think value over brand

Strategy is vitally important when it comes to Facebook advertising. Over a third of Facebook’s users interact regularly with at a minimum one of the 60 million Facebook business pages – so there is a potentially massive captive audience to aim towards.

But it’s crucial to work out what your consumer is going to get out of your advert, what value does it have to them? Know your target audience and keep in mind what they will be getting out of your advert. The idea is not to go overboard with being self-promotional, and rather place specific focus on value instead – whether this be in the form of educational content, answering a query or helping to solve a problem.

Data capturing

It’s important, when it comes to Facebook advertising, that you’re offering something in exchange for the consumer’s contact details. This could be an instant valuation tool like ValPal that offers consumers an estimate of the value of their home, or it could be downloading a free guide on a crucial topic in the sales or lettings sector.

A/B split testing 

Used to experiment with different campaign elements, A/B split testing on Facebook is an excellent way for marketers to set up multiple-variable tests to see which ad variation is most effective. This tactic can be used to find out which ad headlines, body copy, images, call-to-actions, or a combination of what works best for your target audience.

Moreover, you can experiment with several Facebook audiences and ad placements to establish who’s your perfect audience and which placements they can be reached with. To get the most leads possible, it’s not always about what you like, it’s about what works.

Speed to lead

Most people have short attention spans now, especially while browsing social platforms, so it would be advisable to jump on the phone as quick as possible with your potential customer to convert the leads.

In order not to rely on the memory of your client and what they clicked on the day before, acting swiftly to capture a lead will be the most effective strategy. Opening the door to a conversation by asking them their reason for getting a valuation is a good start since these leads aren’t going to be as hot as customers coming directly to you to sell their property.

Nurture your leads

Don’t be discouraged when you realise that your potential customer might not be ready right away – in fact, most leads that come from an instant valuation tool tend to hit the market 3 to 8 months after the initial valuation request. Lead nurturing is about engaging and building relationships with potential customers to nudge them in the direction you want. Oftentimes they need more in-depth information about your offering, or they simply just need more time to reach a decision.

This will also help you generate greater brand authority. By sending your leads relevant content on a consistent basis, they will learn to trust your company, which often translates into stronger customer loyalty.    

It would also be good practice to call back your old leads as well, and the key to this will be striking when the time is right since they may not be ready immediately. It will be vital that you check in with these leads further down the line and convert them when they are ready. If you’re spending money on marketing, you are making an investment, so calling them once and then not following up is as good as throwing your money away.

ROI evaluation

Evaluate your ROI over a period of 3 months, 6 months, and 12 months rather than on a month-to-month basis, especially if you’re new to Facebook ads. While the platform often produces immediate results in terms of lead generation, converting them can take longer which means that it’s crucial that you don’t limit your ROI view at one month when these leads could convert for you in three or 6 months’ time.

One of our member agents gave us stats which prove this. They have spent £13,000 on Facebook ads, and in completed and under offer sales they have an income of £60,000, giving £46,000 profit in just over a year. What's more, they made an additional £17,000 in sales when they created a lead from a datamine which was from old ValPal leads from pre-MovePal times.

The bottom line

These guidelines mentioned above will give your campaigns more of a fighting chance in the sea of cyberspace.

Although there’s no magical formula to winning over customers, Facebook ads do in fact work – this has been proven again and again. You just have to optimise them appropriately to get the best return on investment.

It takes time, work, and even a little luck and good time when it comes to getting the most from Facebook ads, but the above tips should increase your chances of good ROI.

Here at The ValPal Network, we can help you to achieve this and more. For more information on the services we provide, please contact us at team@valpal.co.uk or give us a call on 020 8663 4930.

For information on how we can help to grow your business online and generate leads effectively, you can check out our social media marketing service.

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