How To Boost Your ROAS For Social Media Ads

Instagram alone has 1.48 billion potential viewers, and so advertising on this platform is a no-brainer for modern marketers. It’s gotten very competitive for people’s attention as this number rises in tandem with annual ad spending.

Keeping people’s attention is becoming harder than ever, and the ever-shifting algorithm can be harsh on advertisers and marketers everywhere.

Return on investment for advertising on social media?

It is crucial to be able to track results when launching a new advertising campaign. A good starting point is to analyse the KPIs, or key performance indicators. Conversion rate, click-through rate (CTR), and cost per conversion are common key performance indicators (KPIs) of marketing and advertising campaigns (CPC).

Metrics like these are useful in a limited sense, but they don’t tell you much about the overall success of your campaign. It is at this point that the return on advertising investment (ROAS) comes into play. Return on ad spend (ROAS) is an essential metric for digital marketers because it reveals how much money was made for each dollar spent on ads.

When evaluating the success of a campaign, this method is preferable because it considers not only the quality and quantity of results, but also the global monetary impact.

Some advice on how to get more out of your social media marketing campaigns ROAS

Want to know how to make your ads more effective? Some things to think about to increase your campaign’s ROI are listed below.

Monitor ongoing efforts in real time

Almost all advertisers use more than one medium for their campaigns. Real-time data tracking is essential for keeping tabs on campaign expenditures and gauging its success. When trying to compare multiple platforms, it can be inconvenient to constantly log in and out, increasing the risk of missing important data.

A tool like Radarr can help you overcome this challenge and others like it by centralising all of your ad tracking data and insights in one convenient location. That way, you can put your energy into optimising your social media for maximum impact.

Improve your data segmentation tactics

Over-segmenting an audience is a common marketing mistake. The problem is that it doesn’t give you very much information and can lead to unreliable results due to its erratic behaviour.

Before launching any campaigns, make sure that any filters that might over-segment your audience and reduce your reach are disabled. This is because testing your campaign is the primary goal at the outset, and if you narrow your focus too much, you won’t collect enough reliable data to make informed decisions.

Identify the outliers

An audit of a marketer’s marketing strategies may reveal the common error of not adjusting the targeting after an initiative has been launched. Making some strategic adjustments can boost efficiency.

If your campaign proved more successful on one medium than another, you might want to evaluate the effects of focusing on that one channel exclusively.

Attempt Alternative Goals

It’s possible that after reevaluating your aims, you’ll decide to try something different. Combining different types of campaign objectives, such as dynamic remarketing and static remarketing, is common practise in brand campaigns.

One company may have more luck increasing conversions using dynamic approaches, such as custom tagging and ROI optimization, while another may have better luck doing so using static approaches.

Test out various bidding strategies

Although most marketers love having complete say over their efforts, this isn’t always the best course of action. As a result of manually managing your bidding strategy and placing a cap on costs, you will reach a smaller audience and receive a lower return on ad spend.

For some companies, this approach may yield positive results, but Facebook typically prioritises larger accounts for more advantageous bidding. Choose a low maximum bid and Facebook’s algorithm will work to help you reach your campaign goals.

Put forth a number of alternative approaches

Advertisements on Facebook revolve around creatives. In the event that a segment of your target market isn’t responding to your ad, it may be due to the fact that the ad’s creative isn’t interesting or relevant to them. In order to determine whether or not your creative content is resonating with your target audience, it is advisable to first gather a number of samples from which to choose.

Most audiences will only see your ads a handful of times, so it’s important to work with a variety of creatives. It’s possible that repeat exposure to the same visuals will bore your audience and prevent them from taking the action you desire. Consequently, you should rotate the ads’ creatives to avoid the ads’ monotony when used at higher frequencies.

Reduce friction as a number-eight priority

In terms of ad optimization, this is a must-do. Making systems that guide leads and customers up the sales funnel can help your campaigns run more smoothly. Costs are cut significantly, and satisfied customers may return for more if you do this right.

Promoting your marketing campaigns as a place where people can take the desired action while incurring less financial outlay is one such example.

Experiment with different demographics

Remarketing can help boost the success of future advertising campaigns, even if the previous one yielded less than expected results.

Use Facebook’s ‘lookalike audience’ feature to target new potential customers who are similar to those most likely to already be interested through custom audience retargeting. This will make your ads more efficient and reduce their cost per click and frequency of use.