How To Find and Build Winning Facebook Audiences
Finding and Building Winning Facebook Audiences:
First things first, before ever launching your first ad on Facebook you must understand that we can’t create demand.
We can only align with it.
Meaning we are going to want to find out where the demand is in our market, and then relate our product or service in a way that is appealing to our specific audience that we build.
Keep in mind that even the hottest products on the market don’t usually create a demand.
They usually just find a way to fulfill the demand in a unique and creative way that organically generates more exposure.
When starting out, you should always sketch out your customer avatar as a reference when doing audience research.
This will allow you to make key emotional connections with your specific audience and product or service.
Some things to think of when coming up with your customer avatar:
- What kind of entertainment do they like? (Books, Magazines, Podcasts)
- What kind of celebrities or influencers in your market are they interested in or follow?
- What brands and companies are they interested in?
- Are they apart of any particular groups on Facebook?
- What apps and software programs do they use that are congruent to your product or service that you could tie your messaging into?
Creating this list will also help give you a better idea of how to structure your ad copy and creative.
So once you have created your customer avatar you’ll be ready to start doing some audience research.
For this you should go to Facebook’s Audience Insights.
Facebook’s Audience Insights page will allow you to see all sorts of different data according to the specific metrics you plug in.
You can also see what kind of demand each market has and could potentially be profitable for you and your business.
TIP: When you find a brand or page that has page likes with extremely high affinity numbers it means that the audiences are super engaged with that particular subject.
When choosing your different interests, the sizes of your audiences are going to range anywhere from a few thousand to hundreds of millions of people.
It’s always good to keep the initial ad sets anywhere from 500k-2M people at first.
Some of the audience options that Facebook lets us choose from:
- Other Page Likes
- Facebook Usage Activity
- Household Size and Income
- Online Purchases and Spending Habits
That way you will be able to read the data and determine what is working rather than only having your ad served to a tiny portion of a major audience and be reading data that is not going to improve your campaigns in any way.
But, it never hurts to test out all different sizes of audiences if you have the budget.
Audiences of 2M+ are known as scale audiences because with that big of an audience you can spend quite a bit of money before everyone has seen your ad.
When you find a profitable audience like this, it is known as a winning ad set and you are going to want to start scaling it.
Scaling Your Winning Ad Sets (Audiences):
After you have tested a bunch of different ad sets and let them run for a few days you will be able to determine which ones are winners and which ones to turn off.
Before you start the scaling process it’s crucial to determine what exact KPIs you need to maintain to maintain profitability.
That way everyday when you are reading your data and your budget is steadily increasing you will be able to keep control of your margins.
Now, there are two different types of scaling:
Horizontal scaling is when you duplicate a winning ad set into multiple different ad sets with different budgets and maybe even a more narrow targeted audience.
Vertical scaling is when you continue to increase the daily budget of a single winning ad set.
Both ways of scaling are very effective, but you should try horizontal scaling at first and never turn off or change the settings to the original winning ad set.
Once something is working exceptionally well, if you change it, Facebook’s algorithm will most likely be very rewarding of that.
With that being said, now you should have all the knowledge you need to go start building your customer avatar and building custom audiences to run your ads to.