Meta and Facebook Ads: New Features and Best Practices for 2024

Jul 10, 2024

Meta and Facebook Ads: New Features and Best Practices for 2024

Introduction

  • Meta and Facebook Ads have introduced various new features, including AI tools.
  • Facebook and Instagram remain top platforms for social media advertising with the best ROI.
  • The goal: Guide on how to set up and optimize Facebook and Instagram ads using new features.

Key Statistics

  • ROI: Facebook and Instagram ads still offer the best return on investment.
  • Usage: 3 billion monthly active users on these platforms.
  • Marketers: 67% use these platforms to advertise.

Setting Up Meta Ads

Create Account

  • Create a Meta business account.
  • You need access to both Meta Business Suite and Business Manager.

Create Meta Pixel

  • Purpose: Data collection tool for optimizing ads.
  • Steps:
    • Go to Event Manager.
    • Create a Meta Pixel.
    • Connect data sources and create a dataset.

Use New Tools

  1. Facebook Ad Cost Calculator
    • Helps estimate budget and potential results.
    • Input key metrics like revenue goals, product price, and click-through rate.
  2. Meta Campaign Planner
    • Predict ad outcomes and get AI suggestions.
    • Steps: Go to Ads Manager, then Campaign Planner.

Ad Creation

Competitor Analysis

  • Use Meta's updated Ad Library Report.
    • Insights on number of ads, spend, and top searches.
    • Search for competitors' ads to see what's working.

Creative Ad Design

  • Importance: First impression and engagement.
  • Preferably use short-form video content.
    • Example tool: InVideo.
    • Benefits: Web-based editor, 6,000+ templates.
    • Customize templates or create from scratch.
  • UGC (User Generated Content)
    • Very effective for engagements.
  • Stock Footage
    • 8 million assets available for easy content creation.

Ad Setup on Platform

Initial Setup

  • Campaign Creation: Use Ads Manager.
    • Select auction as buying type.
    • Define campaign objective: Sales or Leads.
    • Enable Advantage Campaign Budget (previously known as CBO).
    • Set lifetime budget.

Ad Set

  • Performance Goal: Choose appropriate goal (e.g., conversions, landing page views).
  • Attribution: Usually leave as default.
  • Dynamic Creative: Off for beginners.
  • Audience Targeting:
    • Define country, age, gender, and interests.
    • Use Advantage Plus Audience for suggestions.
  • Placements: Prefer manual placements over automatic.
    • Recommend using specific placements like Instagram feed and Facebook feed.

Creating Ad Creative

  • Primary Text: Use a strong hook, then benefits, then offer.
  • Headline and Description: Clearly state the offer or main benefit.
  • Optimization: Leverage meta tools to automate creative adjustments.

Optimization Techniques

Split Testing (AB Testing)

  • Test different elements (creative, audience, title, offer) to find what works best.

Audience Matching

  • Make sure ads are culturally relevant to each specific audience.

Learning Phase

  • Allocate a budget to generate 50 actions within the first week.
  • Avoid making major changes during the learning phase.

Conclusion

  • Meta ads offer the potential for significant growth if set up and optimized correctly.
  • Beginners should start with small budgets and scale up based on performance.
  • Utilize meta's advanced tools and features for best results.
  • Further resources available for advanced optimization techniques.