What would you do with a Facebook ads budget of $20.000.000?
December 13, 2021
Imagine what you could do with a budget that size—or maybe you don’t have to imagine).
The possibilities are practically endless.
But so are the pitfalls.
Which is why we put together this guide for how you best spend your money when you have much to spend.
Because with a great budget comes great responsibility.
Content is important, but maybe not the content you think
Sometimes, quantity beats quality.
Being agile, fast, and experimental is often better than rigid, perfectionist, and conservative.
When you’re dealing with a big budget and how you get the most value out of it, it's about content volume and especially content variation. Dynamic Product Ads are great for this.
In other words, aim for many different angles and expressions. From product explainers to a real price whopper to campaign to employee video to customer testimonial to PR material to the CEO who explains something, etc.
Often, the handheld iPhone video without a logo trumps larger productions with film crews on.
Similarly, native content (content that fits the platform's target audience and the platform's best practice) is better than branded content.
Here is a checklist to help make sure you do it right from the start:
- You need to make a lot of videos and banners that vary (find new angles often).
- It must be authentic and fit the platform.
- Keep your videos short 5 - 15 sec. is preferable, but max 30 sec.
- Use 9:16 formats for stories and 4: 5 or 1: 1 for News Feed. They take up the most space and the formats are best suited for mobile
- Get people's attention fast. On average people watch a video in less than 3 seconds. If your logo takes up the first 3 seconds, you are wasting the opportunity.
One of the formats that is particularly apt for big budgets is dynamic product ads.
As soon as a user presses further in the carousel, it counts as an interaction that has a positive impact on the relevance of the ad.
It is important to test what actually works on one's target audience in order to get this positive interaction from the users (which makes it cheaper to advertise on Facebook).
And not to brag, but Confect makes precisely this work a lot easier with our dynamic templates.
The customer journey is still priority number 1
By customer journey we meant the way in which you become a customer of a company.
How do you want to attract new customers? And where do you want to funnel them through? What’s the journey you want to take them on?
Do keep in mind, though, that whatever journey you set up for the customer is only part of their full customer journey (from needing a product, to realizing they need it, to researching it, to finding it, and finally buying it).
Experimenting with your customer journey can result in big fluctuations in terms of performance.
It is therefore important that you take the time to ask yourself the question:
What can we do to make our flow even better (and interesting)?
Working with data is more important than ever
To understand what affects performance and which parts you have control over, you must first understand drop-offs and benchmarks as well as look into audiences and rankings.
Facebook provides a fair bit of useful insight. Sometimes you just have to dig it out yourself.
This typically means you start by analyzing the main drop-off number (i.e the number of people who drop out) drop-off point(s).
Where do potential customers fall off on the journey towards a purchase on your website?
How many of those who click on the ad actually land on the page?
How many of those who land on the page click on to a new page?
How many of those who land on the page make a conversion?
This will help you identify where problems may lie in wait:
Is there anything wrong with the visitors coming in?
Is there something wrong with your flow?
Is there something wrong with your website (ease of use, load-speed, etc.)?
Another thing you might consider is to map out your drop-off points. This you can then use to analyze the data in more visual detail.
Simplifying messages without dumbing them down
The better you are at formulating clear messages, the better.
You have to use your ads and Facebook’s functionality to provide just exactly enough information that a potential customer is interested but without demanding too much of their time.
The landing page should handle most of the heavy lifting once you’ve grabbed their attention.
And don’t be afraid to test new things out.
Frictionless future, today
Don’t make it hard on the customer.
Which is to say, it should never not be easy for someone to become a customer.
Every time you make things a little bit more cumbersome, you make it a lot harder on yourself.
For example, sites with too slow a load-speed or an overcomplicated checkout/lead flow set up unnecessary obstacles for the user.
This, in turn, hurts the conversion rate.
But not just that. It also affects Facebook (and other push channels) significantly more than it affects branded searches and direct traffic.