“Half the money I spend on advertising is wasted – the trouble is, I don’t know which half.”
This is a phrase that dates back to the 18th century, but still prevalent in marketing circles today. However, we don’t believe this has to apply to online marketing. With all the analytical software out there, marketers now have the ability to operate as an ‘all seeing, all knowing’ eye on the performance of their advertisements.
The key to controlling your ad spend (and not wasting your precious budget) can be found in split testing.
A split marketing test is when you take two elements of a marketing campaign and test them against each other. The method can be applied to any kind of online marketing, but the sheer size of Facebook’s user base and the number of metrics that can be found within Facebook’s ads platform (we think) allows for the best evaluation of the kinds of advertisements that work.
Testing your audience is one of the fundamentals of marketing, and we believe it is something you need to consider if you want to maximise your ROI.
In this post we want to highlight the huge array of testing options you have at your fingertips. We recently conducted a survey on the areas companies can test to maximise their ROI. They are as follows.
(Categories higher up the table yielded a higher return once they were tested)
Here is an example of a recent ad split we conducted for one of our Telecom clients. We focused this split test on comparing the difference in impressions and interaction based on the use of a single image vs a carousel. The two adverts were as follows:
Single Image Ad
We found in our testing phase that the carousel led to both higher impressions and conversions, and consequently went forward with this format for future advertisements. We are now moving forward and split testing the phrasing of the copy. Our intention is to work through the Table detailed above to improve the profitability of our adverts. This methodology is essential to optimising an advertisement’s success. While it can be time-consuming, it is a crucial aspect of Facebook advertising. We advise working through each of the items highlighted in the Table in order to perfectly optimise your adverts.