In the first installment of this two-part post, our Facebook Ad experts shared four of the biggest Facebook Ad trends that marketers and businesses should stay on top of this 2023. And as promised, we’re also sharing some tips on how you can stay ahead of your competitors on this social media platform:
5 Tips on How to Get Ahead of the Competition with Facebook Ads This 2023
Now let’s explore different ways you can beat the competition:
1. Go Hard with User-Generated Content
When it comes to promoting your brand on Facebook, user-generated content is an effective option. This content typically has fewer logos and branded elements and is less polished than other styles. It works well for e-commerce products and lead-generation campaigns. By using this type of content, you can expect to see great results.
2. Give Advantage+ Campaigns a Try
Advantage+ campaigns are a way for Facebook to help advertisers save time and get the most out of their campaigns. The campaigns are automatically optimized to maximize returns and require minimal manual inputs from the advertiser. It also has specific campaigns for catalog ads and app installs and will automatically adjust the creative elements for better results.
Advantage+ campaigns have been very successful for brands, so it is a wise option to consider, especially for those starting out on Facebook. Facebook will likely continue to improve the Advantage+ product, making it a safe bet for businesses in the near future.
3. Scale Budget Using Cost Per Bidding
To make the most of your Facebook advertising efforts, it is essential to adjust your campaigns as they grow to also maximize the number of conversions and optimize the amount you spend.
Cost-per-result goal bidding is an effective method of managing ad budgets to ensure consistent results in 2023. It involves setting a minimum spend for each ad placed through Campaign Budget Optimization (CBO) and letting Facebook automatically adjust bids across different ranges to test which ones are successful. This way, advertisers can quickly and effectively scale up successful tactics.
This means you can use the data gathered from the insights to create campaigns with a bigger budget and focus on the bids with the highest chance of success.
If you are limited in your budget, create a single advertisement campaign with a maximum cost that is just slightly higher than what you have been spending on Facebook Ads. This will help you get the most out of your budget while testing different bids.
4. Avoid Tweaking Your Ad Sets Too Early
Whenever you make changes to your Facebook ads, you should give them time to learn and optimize before making any more adjustments. This means that you should avoid making too many modifications in the early stages of your campaign, allowing the algorithm to do its job. This has always been a good idea and will likely be even more critical in the future.
Keep an eye on how your ads perform and adjust your budget accordingly. Increase spending gradually by 20% every few days to ensure your results keep improving. If you need to scale your budget more quickly, you can clone the ad set and test different tactics.
5. Experiment with Different Placements and Formats
Facebook provides advertisers with a lot of options for successful advertising. It is important to take advantage of these options by combining ads that include photos, videos, and multiple photos in one ad.
If you’re in the e-commerce space, don’t miss out on the opportunity to capitalize on the emerging trend of creating TikTok-style reel videos. Get ahead of the competition and start including this type of content in your marketing strategy before it’s too late.
In 2023, being creative and standing out from the competition will be essential. Try using popular content styles from social media platforms like TikTok and Instagram Reels in your work. This could include having presenters talk to audiences, using trendy sounds, and creating hashtag challenges. React quickly so that you can take advantage of all opportunities.
Conclusion
It’s essential to stay up-to-date on the latest trends for Facebook Ads and familiarize yourself with the tools and features available in 2023. Knowing these can help you gain an edge over the competition and increase your advertising performance.
Take your paid ads to the next level with comprehensive Facebook Ad strategy guides, tutorials, and recommendations for best practices, as well as funnel and landing page improvements from Funnel Insiders. Start training today!
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