Question 1

How can we target competitors even more? / What is a Competitive Proactive Campaign?

Accepted Answer

Pick a few competitors (suggesting 1-6) and create a display or video campaign. Setup one ad set for each competitor. Then, build these 4 audiences within each ad set:

Custom affinity targeting the competitor's website
Custom affinity targeting the competitor's brand name
Custom intent targeting the competitor's website
Custom intent targeting the competitor's brand name

This is a highly segmented way to have an outbound campaign going to specific competitor's users/customers/leads. Affinity means it will target people who are frequently visiting that brand's site or associating themselves with that brand regularly. Intent means it will target the people who are actively researching or planning a purchase of that business.

The caveat with this campaign is, if your competitor is a SAAS product, frequent visitors of the site might be going there to login. So this means the ads will appear for the competitor's existing users. Because of this, it's recommended to test this campaign to make sure you aren't spending a ton of budget targeting primarily existing users -- and, if you are, make sure the ads feature a competitive advantage in an effort to get those users to make the switch.

Question 2

Why is the conversion rate higher when leads come from paid ads vs. organic?

Accepted Answer

The paid campaigns are always going to bring in higher quality website traffic than organic search results because:

Ads have headlines and descriptions - vast amounts of them - that have been optimized for click-through-rate by us and by the algorithms.
Organic searchers aren't always going to be sent the correct page. When someone does a search on Google and finds your website in the results, they might not get to the landing page/homepage. They might end up on a blog post, etc. In fact, you can see what percentage of the website visitors enter your site from the landing page/homepage by going into analytics.google.com, clicking on Aquisition, then Search Console, then Landing Pages on the menu on the left.
You're also getting a higher percentage of people who are motivated to buy. Many people are looking for information and will end up on an article on your site. The people who do click on an ad are looking to explore your brand/product/service from the perspective of someone who is considering pulling out their wallet.

Conversion rates from paid ads tend to be 6 times higher than conversion rates from organic searches.

Question 3

What if I have a small budget of $500 monthly?

Accepted Answer

Accounts with small budgets (~$500) can be extremely difficult to optimize because there’s often not enough data to recognize patterns.

For example, if a keyword got 1 click last month and 1 click this month, should we increase the bid for that keyword? Well, 1 click is not enough information to make an educated guess.

In this case you may need to manually edit the budget twice per month because you want to spend the majority of it in a short amount of days and then pull back.

Do not turn on monthly budget because then it will spend that money evenly throughout the month, which isn’t ideal.

Question 4

When is the best time to run Facebook Ads?

Accepted Answer

Start with a Remarketing campaign only for this first month until the pixel has picked up enough matched users and conversion data in the performance history. As a side note for e-commerce you can do Dynamic Product Remarketing which pulls products from the feed much like a Google Shopping campaign.

Keep in mind that Remarketing campaigns will not be able to spend much ad budget because the audience is made up of a percentage of people that visit your site (Facebook isn't able to match 100% of site visitors back to Facebook users). Start off with $5-$10/day for this campaign and adjust from there based on the frequency of the ads being displayed.

Once you have a good audience size and historical data then you can create a lookalike audience form your existing converters and show proactive ads to that cold list in order to build awareness.

People tend to view FB ads and then convert without clicking in FB. This can happen with Google to but it is more common with FB so it's hard to directly attribute sales and judge the performance of FB campiagns. Some of the people who convert on FB might be the sample people who are converting from an ad on another platofrm like Google. Without an attributuion tracking model it is impossible to know the exact path of conversion.

Question 5

How long will it take to build my campaigns?

Accepted Answer

10-12 business days.

Question 6

What are conversion action triggers?

Accepted Answer

Conversion Actions - To be able to track a conversion, we would need a "trigger" for that conversion action.

A trigger can be one of the following:

A thank you page that only loads after a successful submission/optin.
A code that runs after a successful submission/optin.
A unique event that is only executed upon a successful submission/optin. For example, CTM sends a "Calls" event once a phone number is dialed.

Question 7

How do I decide whether a campaign can spend more even when it doesn’t say “limited by budget”?

Accepted Answer

If you have extra ad spend to work with (or if you pause another campaign and need to allocate its budget), check out the impression share (IS) lost to see if an existing campaign can take on the new spend. If (IS) is lost due to budget OR due to rank, then it most likely can. This is due to the cyclical nature of bids:

Rank determines your ad’s position in the results.
Rank is affected by bid.
Bid is set based on what the business can afford (for example, [Max CPC] = [Break Even CPL] * [Conversion Rate]).
Higher Bid = Higher Ad Position = Better Website Visitors = Higher Conversion Rate (clicks to leads) = A Higher Bid can be afforded. So, you can sometimes raise the bid in the anticipation that the conversion rate will increase by guesstimating what it will increase to and “putting the cart before the horse.”
If NOT Smart Shopping campaign - you might temporarily switch the campaign to a manual CPC (with enhanced CPC enabled) bidding strategy if it was using an automated bidding strategy before, because the algorithm most likely isn’t intelligent enough to push the max bid in this way.
If Smart Shopping - it’s not possible to switch to manual, so here are some other options:
- Give it more budget in order to get it to increase the bid
- Before increasing the budget, make sure the product feed is optimized by including a lot of optional information that helps with rank. Be sure to optimize your feed during the eCommerce setup process.

Question 8

What is a Good Conversion Rate?

Accepted Answer

Across industries, the average landing page conversion rate was 2.35%, yet the top 25% are converting at 5.31% or higher. Ideally, you want to break into the top 10%.

Source: https://www.wordstream.com/blog/ws/2014/03/17/what-is-a-good-conversion-rate#:~:text=Conventional%20wisdom%20says%20that%20a,in%20the%20average%20performance%20bucket

Question 9

How often do you make changes to a campaign?

Accepted Answer

A very high spending account may need daily or even hourly changes. For accounts with smaller budgets, there may not be as much maintenance involved.

Similarly, this depends on if we’re achieving our goals or not. If we are, we may make slower optimizations (to not deter the performance of the campaign). If we aren’t hitting our goals, we make more frequent optimizations until we start achieving them.

On average, we generally make changes in an account every 3-7 days (again, depending on how much activity the campaign gets and your specific goals).

Too many changes harbors an ecosystem where it’s hard to keep track of the outcomes; making changes too infrequently means competitors may outperform your campaign.

Question 10

Should I share budget between multiple campaigns?

Accepted Answer

Shared budgets are not ideal but they can be useful - In the beginning of a campaign launch, you might decide to put campaigns into a shared budget in order to help determine how to divide up the budget. You will be able to let the algorithm decide what to show based on how much demand (impressions) there is.