While planning, some upcoming Facebook campaigns, I noticed a couple of new features Facebook recently introduced to ease the life of advertisers. These features are super cool and worth a try. Check them out!
Split testing is just same like A/B testing, in which Facebook will test your campaigns on the basis of the parameters you select. It also allows testing 3 variations like A/B/C testing. You can select the one of the following option and Facebook will make variations for you. You can only test one variable at a time. It will create different group of audience and run the campaign.
How to create a split test?
Delivery optimization: You can optimize the ad set for various delivery options available in this section.
You can select any option to test your ad sets, to get the highest value. I would recommend to go with Conversion to see which ad is performing better for conversion. In both the variations you can change the bids, you can make it manual/automatic. Remaining settings for the campaign will be same as normal campaign.
Audiences: You can select the audience from your previously saved audience list. You can select 2 or 3 different saved audiences and Facebook will split those audiences to test the best performing segment.
Placements: There are basically two types of placements are available, automatic and manual. In the automatic Facebook will decide the placement, on the other hand, you can select the platforms where you want to show your ad. You can customize the placement by selecting the place like a right side box, or news feed etc.
After selecting the desired option you can simply set the budget for the split test campaign. There are two types of budget methods are available such as:
Another cool feature is a customer lifetime value feature. Facebook recently added this option in Facebook audience section. To understand the feature you must be aware of lookalike audiences in Facebook. When you create lookalike audience, you upload a list of the customers and Facebook finds the people matches to that audience. By using LTV feature, Facebook will find those audiences, which are most beneficial for your business.
So what exactly the customer lifetime value is?
Basically the transactions made by the customers with the company in past relationship are defined by the value of the client. It’s completely monetary, and depends on how much a client paid you. The lookalike audience for higher LTV customers could drive valuable customers to the business. Facebook uses LTV to find people similar to your highest value customers.
You can create the audience in Business manager -> Audience section.
To use the Value-Based Lookalike feature, you will upload a list of identifiers as well as a value-based attribute. You can select the available fields which you want to add to your customer file and targeting options. By doing this you will get the customers which are most likely to convert and high potential.
Fullscreen Canvas Experience:
When you check the small box ‘Add a fullscreen Canvas’, the field will be expanded to select the template for image, video etc. All the templates are optimized from different business objectives such as acquire new leads, sale the product, showcase your business. There is an advance template builder is also available for customized templates as well. You can create your own custom templates to provide better user experience to mobile users.
When you select the template, you can edit the text, button, image, link and other attributes according to your business needs.
We used these features for a few of our campaigns so far. Now its become easier to reduce the cost of the campaigning to get leads. Cost per click is reduced and CTR is better than previous campaigns. We loved these tools and hope you will find them useful too!