Want to use Facebook ads for finding new customers? You can do it using cold ads on Facebook.
In this article, you’ll come to know how to use cold ads on Facebook to bring new customers and its other aspects.
Using Facebook Ads to Get New Customers
It has been seen that cold audiences don’t have an idea about who you are, which indicates that you can begin the instruction process instantly and hyperdrive. Think of targeting Facebook cold audiences as an accelerant for your ads buy.
Create Cost Per Acquisition
While targeting cold audiences, build a budget mainly for targeting and experimenting with cold audiences. If you test new audiences, then you can assess the conversion rates and costs added with acquiring a new customer. After determining your cost per acquisition for new customers, you come to know what it takes to make many more new customers in the future.
Accordingly, calculation of a conversion rate for a cold audience lets ideate that a warm audience would convert at a higher rate. As such, testing Facebook cold audiences will also reduce your overall cost per acquisition in the long run.
Deciding Whom to Target With Facebook Cold Ads
Even if you have support and recommendations from Facebook Audience Insights, the first ad running to cold audience looks like a bet. Every time you click on a product or service which is similar to yours, Facebook Insights gives more recommendations, pages, and interests, but again it would be a gamble.
Even if you have a high focus on the possible audiences based on competitive research, competition, or other activities done on behalf of your brand, there is no assurance that cold ads are necessarily going to perform well.
Employ Facebook Audience Insights
Take help of Facebook Insights to collect data which could be a rolling point for creating cold audiences on Facebook. Gathering as much data as possible from the interest and demographic sections found inside the platform, Facebook Audience Insights provides a general ranking for audiences you can target.
Facebook Audience Insights can be found in the menu as Audience Insights. On the left side of the screen, you can also demographic information.
Near to the bottom, there is a section with every category Facebook employs for interest targeting. These topics could be food, news and entertainment, dining and others.
Marketers click on every interest category to see a finer list of audience size, subcategories, psychographic information, and key demographics associated with it.
The number of ads people click every month in each interest group is a wide average throughout the total user base. Since you are going through a list of interests you’re aiming to target, enlist how many people click on ads every month in a spreadsheet. You will 15 to 50 people click on ads per month.
Build Audience Size and Budget
While setting your campaigns, select two to five interests to initially test cold audiences which will depend on the ad testing budget. Test every interest group separately, instead of combining them, until you have come to know that how each variable performs. Testing also allows you to understand exactly what might be successful and what not. After knowing what works, you can group your interest in targeting and start testing your creative.
After getting some idealistic audiences and are ready to test your creative, limit variables related to your ads. Running a similar ad to all three to five of your audiences enables you to segregate what you’re testing and swiftly leave what is not working within your test.
Measuring Facebook Cold Audience Campaigns
While testing your ads, measure everything like CTR, CPC, and number of clicks. This data lets you know about the performance of your ads with the audiences you’re targeting.
Calculate Click-Through Rates
Suitable ads generally get a CTR of 1.5 or higher in the news feed. If your CTR is below 1.5, you should check why your audience isn’t resonating with your message.
If you want you can run ads in all placements at the start of your testing phase. Mix it up and split among Stories, and you can even customize your placements.
If you select all placements instead of split-testing your ad placements, Facebook Ads Manager will give the breakdown by placement. See the CTR for each placement on Facebook, Messenger, and Instagram and look at the performance of each placement on the respective platform.
Next Steps After Finding the Right Cold Audiences on Facebook
Establish Ad Frequency
After calculating a number of clicks, conversions, and cost per acquisition, it’s the turn of ad frequency. Less than a frequency of 3 would be a good score.
Replicate Interest Targeting
If you have a large enough audience base to support doing so, it would be better to replicate the interests which are working for you. This way interests get exposed to audiences.
Want to target cold audiences on Facebook?
This article will help know how to target Facebook cold audiences and its other aspects.