By now, Facebook ads aren’t exactly a new thing.
We all know the drill: It’s all about promoting your “unicorns” – the top 1-3% of your best content and/or offers, the ones with unusually high engagement rates, e.g. click-through rates of 10% or higher.
Why? Facebook sponsored posts with high engagement rates get assigned high Relevance Scores, which get rewarded by the Facebook Ad algorithm through increased exposure at lower cost.
The cost per click for a sponsored post with 1% engagement rate might be around $3-5 per click, but if you can raise the engagement rate to 10%, your CPC will fall to around 25 cents.
But how do you make the content you’re trying to promote get 10%+ click-through rates?
The normal way to increase relevance and CTR on Facebook is to be a bit picky with your ad targeting – no matter how boring your sponsored content is, if you get it in front of a targeted enough audience, it can become exciting to a smaller number of people. Or at least, that’s how the theory goes.
For example, if you’re selling PPC marketing software, you promote your offers to people who have:
Here we’re casting a narrower net, and maximizing the engagement rates within it.
The problem is that you can lead a horse to water but you can’t make it drink - just because you’ve created a perfectly targeted ad set, doesn’t guarantee the prospective buyer will find your offer worthy of clicking on.
Further, sometimes you can over-define your audience, meaning you’re only showing your ad to a tiny pool of people.
My new ad targeting strategy has the potential to dramatically increase your sponsored post engagement rates and your relevance scores, which, in turn, will simultaneously increase reach and lower cost per engagement.
Basically, the idea here is rather than only targeting correlated interests (e.g. marketers with middle-management job titles), we’re going to target two completely different interests: for example, liberals who watch Star Trek Deep Space Nine.
These are two big audiences, but we’re only targeting the overlap:
Two weeks ago I created a case study which highlighted how fake news being spread via Facebook ads can pose a danger to society.
I only had a $400 budget to promote the story using Facebook ads, yet the content promotion efforts yielded:
Last week, Facebook started taking out ads on the fake news issue.
And they even updated their ad reviewing policy:
Interestingly, about a hundred people at Facebook checked out my LinkedIn profile last week.
Did my story cause all this? Impossible to know. But I can share the Inverted Unicorn Facebook Ad targeting strategy that I employed.
As a reminder, I only had $400 to spend on content promotion, so I picked a demographic that I thought would find this story to be particularly interesting: Liberals.
Unfortunately, this audience is just too big (26 million people). That’s too broad considering I only have $400 to spend.
I had to find a subset of this huge audience that I could still meaningfully target.