How to get the most out of Facebook’s Campaign Budget Optimization
There are two types of marketing people in this world.
Those who need a tub of ice cream to soothe the pain of a features relaunch on their favourite social media platform. Especially if they had a process in place and were plodding along with a fairly successful strategy – one that has now been chucked in the bin.
Then there’s the other type who takes the relaunch by the antlers, instead of the ice cream by the scooper. We’re talking driven people who know that new advances mean there’s a chance to get ahead.
If you’re looking to not only adapt to the upcoming changes in Facebook’s Campaign Budget Optimization (CBO) tool but to master them, then you’ve come to the right place. Consider us as your Mr Miyagi.
And if you’re completely new to Facebook Ad Manager, then this is a great opportunity to get started and learn about the results it can deliver for your business.
Marketers across the internet: Read on to learn how you can get the most out of Facebook’s CBO tool.
What Facebook’s Campaign Budget Optimization tool means for your blog
If you use Facebook or Instagram to promote your blog then you may be familiar with the Facebook Ads Manager. Typically, social media managers use individual ad sets with their own unique targeting and budget for each blog post they want to promote. These ad sets are usually organised within a monthly campaign and this can easily be managed and optimised to maximise traffic or other KPIs from your blog campaign.
This is all set to change from September 2019 when Facebook will make its CBO tool the default setting for all campaigns.
From September 2019, you will no longer be able to allocate budget to individual ad sets as the budget will now be set at the campaign level. This might seem daunting to those who have become used to the traditional method but it doesn’t need to be. We’ve been using CBO here at 256 for some time now and have seen some amazing results when promoting blog content.
CBO uses machine learning to optimise your campaigns. It’s an always-on tool which promises to maximise results, avoid audience crossover, keep frequency low and find the right person for the right piece of content at the right time.
Talk about innovation.
Optimisations are based on early machine learning results. Once enough data has been gained during the learning phase, Facebook uses the newly acquired knowledge to seek out similar users who are most likely to perform the action you have optimised for. It will also serve them the piece of content it deems most likely to make them perform that action.
How to take things to the next level
You’ll be happy to know that there are five ways you can take full advantage of the CBO tool and make sure it’s performing at its highest level.
1. Start your monthly blog campaign with at least five different ad sets
These ad sets can all promote different blogs or a combination of the same blog with different targeting. This will give the CBO the task of learning which ad set performs best without ignoring the other ad sets and simply pumping all your budget into the best performer. The learning phase ensures that Facebook will find the right audience and placement for each ad set.
2. Set up a custom audience for each of your blog posts
The Facebook pixel must be installed on your blog in order to do this. Once you have the pixel installed you can build an audience for each blog post.
Building a custom audience has a number of advantages. If you have a similar blog post in the future then you can use this audience to remarket to previous blog visitors who you know have an interest in similar content. Another advantage is the ability to set up lookalike audiences for each blog post, which will help you attract new readers similar to your target audience for a specific blog. This brings us to the next step in your strategy.
3. Set up exclusions for each ad set
Now that you have set up your audiences for each blog post it’s time to exclude that audience from your ad sets. For example, if you have a blog entitled “Top 10 Beauty Tips,” you should now also have an audience for that blog post. There’s no point in promoting the blog to somebody who has already read it, so you simply exclude this audience from your ad set promoting that particular blog.
4. Replace non-performing ad sets
You’ll notice that after a while, Facebook will share out the campaign budget between the different ad sets. Some ad sets will perform well and get a larger share of the budget but some might still be in the learning phase. Feel free to remove these at any time and replace them with an alternative.
The beauty of CBO is that you can drop in or remove an ad set at any time and once the exclusions are in place, Facebook should begin promoting the new blog to your best audience. This will usually be previous blog readers who may be excluded from other ad sets in your campaign. This helps to ensure that your loyal readers are served new material first.
5. Avoid high frequency and fatigue
Another bonus to this strategy is the way you can keep ad frequency to a minimum and ensure that your best performing posts are kept alive and well. With the exclusions in place you will constantly bring in new audiences and this can have amazing benefits to your KPIs.
You may have loyal readers but if your KPI is newsletter sign-ups then this action is only performed once by each individual. New readers are far more likely to sign up to your newsletter or perform the desired action so this strategy is perfect to bring in a constant stream of new converters.