A ‘buying funnel’ is an expression used to describe the entire buying process of a consumer. The buying funnel is an important theory because it helps online businesses understand the way users think, so that they can tailor dynamic web pages to be more engaging and have a better conversion rate of visitors to buyers. As there are several different products and several consumers in the online business world, there are different classifications to the buying funnel. From awareness and education to evaluation and engagement, the buying funnel is littered with different categories and no category should be ignored if you want to make the most out of this process.
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Here's how entrepreneurs can optimise social ads for every stage of the buying funnel.
Separate mobile and desktop ads
Use distinct ad sets for desktop and mobile so you can optimize your ads, conversions and bids based on your device. You need to take into account that ads and call-to-actions perform differently on different devices.
Optimise newsfeed ads and right hand side ads independently
Segmenting your ads is necessary for optimizing campaigns by placement, device and any other targeting option. If you want to maximise your performance, it is best to promote the different kind of ads that exist independently.
Test bidding procedures
Bidding strategies significantly influence the outcome of Facebook ads. The three major categories for bidding are conversion optimiser, cost-per-click, and cost-per-thousand impressions. Test different bidding options to find out what decreases the cost per conversion but still gets enough volume.
Create consumer personas
Start by visualising your personas. While doing so, consider not only demographics, but psychographics as well. Your persona can include age, location, gender, education, personal goals, and other similar categories. Once you identify your buyer personas, map them to the buying stages.
Match consumer personas to the buying funnel
Once you have your buyer personas mapped and ready, delve deeper into each persona's needs at every stage of the buying funnel. Based on your research, consider what unique selling propositions will appeal to the personas and what will move them to action when they see targeted ads.
Test diverse target audiences
As part of your consumer persona research, you identified multiple interests of the personas at different stages of the buying funnel. For each ad, the images, copies and placements will be the same. The difference will lie in the target audience. Knowing how to search for and determine your target audience is an art you should know well in order to make successful ads.
Analyse metrics and increase budget
Once a particular ad or ad set has proven to be a success with your target audience, end the testing phase of your campaign. Depending on how well the ads continue performing and based on your cost allocation, you can consider increasing the budget for the ads.
If you don't follow the above mentioned points, you won't know which interest groups will be more responsive to ads on Facebook, Instagram and other social networking sites. This will lead to short-term and long-term consequences as your conversion rates will not improve and your CPA will continue to increase.