Instagram and Facebook Ads Strategy: How to Get a High RoAS
Are you struggling to get a high return on ad spend (RoAS) with your Instagram and Facebook ads? Look no further than this strategy that I use to consistently achieve a 60-40-30 RoAS. While some strategies may not stick over time, this one will get you some high RoAS sales right when you implement it. Assuming everything is good with your product and advertising, this strategy works very well and will get you a very high RoAS.
Creating a Custom Audience
To get started, go to audiences and click create audience. Select custom audience and then select your Instagram account as the source. If your Instagram account is brand new, this strategy may not work as there needs to be some data already sitting inside of that Instagram account. Data meaning people that have visited your profile, left a comment, liked a post, or sent you a DM.
Next, choose everyone who engaged with your professional account and retention max that out to 365 days. I recommend testing two or three of these with a tighter retention or more recent retention depending on how much data you have on your Instagram account. Once you have populated this audience, it will tell you that the size of it is not available, but it can vary from 6,000 to a couple hundred thousand depending on the account.
The people that have interacted with your Instagram account are likely a warm or even hot audience, meaning that they're already likely interested in you and what you're selling. Instead of targeting a bunch of cold audiences, use this warm data to put it to use for you.
Creating a Lookalike Audience
Once you have created a custom audience off of your Instagram account, create a lookalike audience off of it. To do this, go to create audience and select lookalike audience. Choose the custom audience that you just created as your lookalike source and select the United States as your country.
This lookalike audience should also be a warmish audience for you. Whatever ad creative you've used that you've got conversions with when you targeted just your custom audience, just throw that to the lookalike audience and exclude the Instagram people so you're only reaching new people.
Scaling Your Ads
Once you have locked in targeting that works, ads that convert, and ad sets that are pulling in some sales out of good RoAS for you consistently, it's time to scale. One way to increase how much you're spending is to duplicate the ad set and increase the budget in the duplicate. Another way is to create duplicates and not change anything, just click publish.
If you want each ad set to have $20 a day and you've got five ad sets in there, your campaign level budget should probably be around $100. Finding better ad creative can also increase your RoAS quite a bit. Simply changing your ad creative or headline could improve your RoAS and increase how much money you're making.
Pros and Cons
Pros:
- Consistently achieve a high RoAS
- Uses warm data to target likely interested customers
- Lookalike audience can reach new people while still being warmish
- Scaling can be done through duplicating ad sets or finding better ad creative
Cons:
- May not work for brand new Instagram accounts with no data
- RoAS may come down over time
FAQ
Q: Can this strategy work for Facebook ads as well?
A: Yes, this strategy can work for both Instagram and Facebook ads.
Q: How much data do I need on my Instagram account for this strategy to work?
A: The amount of data needed can vary, but the more data you have, the better.
Q: Can I use this strategy for cold audiences as well?
A: While this strategy is focused on warm data, it's still important to target cold audiences as well.
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