This is a common question we get. However, it’s probably the most complex question out there to answer. The answer and strategy can either be very simple or very intricate, depending on your business and growth objectives. Here, I outline some base points that businesses can use to scale their online advertising without blowing your ROI (return on investment).
The first step to scaling is budgeting. Understanding your budget from the get-go will make your advertising setup and scaling smoother and more fluid. Say, for example, you are currently spending $10 per day on a single image, single audience advertisement on Facebook. This may be an engagement-based ad or a conversion based ad. Let’s say your results are favorable and you are generating a positive ROI (whatever that may mean for your business). As it comes to budgeting, you will first want to determine a comfort point for the daily ad spend. Are you willing to double it, triple it, or just increase it by 25%?
Upon completing your budget analysis, it is important to know plan out the exact ad funnel that you plan to scale towards. For example, with some clients, I have both Facebook and Google ads running towards a website or offer. Upon getting this traffic caught on the Facebook Pixel, I create retargeting campaigns that then further the probability of conversion. Creating a multi-layer funnel like this is one strategy to scale your ads.
Expanding Your Test Audience
Test audiences are the audiences within the ad sets of your Facebook campaigns. You can duplicate ads and modify audiences by a huge amount of variance in the audience. Here, it’s all about testing and benchmarking results. You have to invest to really flesh out the ideal audience. This includes gender, age, location, interests…etc. The large level of variables on Facebook (more than any other advertisement platform), make testing sometimes rigorous and time-consuming, however, once you find your ideal audience, you may just hit gold!