Facebook Ads Targeting Strategy for 2024

Introduction

• Presenter: Alex Fatov
  • Runs a portfolio of e-commerce brands generating over seven figures monthly.
  • Sharing insights on Facebook ad strategies for 2024.
• Focus: Targeting strategies for Facebook ads to optimize for ideal customer acquisition.

The Old Targeting Strategy

• Interest Targeting
  • Labels customers based on brand interest leading to competition and high CPMs.
  • Example: Beauty interest leads to competing with many advertisers.
• Lookalike Audiences
  • Limited scalability due to small audience size.
  • Conflicts with purchase optimization as Facebook finds buyers using its data.
• Custom Audiences
  • Privacy updates have affected the accuracy of these audiences.
  • iOS opt-out affects retargeting capabilities.

New Targeting Strategy: Broad Targeting

• Concept: Use broad targeting by focusing on age, gender, and location.
• Implementation
  • Set country, age, and gender without demographics, interests, or behaviors.
  • Results in a large audience pool (e.g., 152-179 million people).
• Benefits
  • Stability and aggressive scaling.
  • Less creative fatigue.
  • Simplifies account structure.
  • Focus on creative and ad copy.

Importance of Creative in Broad Targeting

• Ads attract different buyer audiences.
• Facebook uses ad creative to determine target audience.
• Example: Skincare ad targeting based on visuals and copy.

Addressing Common Objections to Broad Targeting

• If broad targeting doesn't work, improve your creative.
• Niche products can still succeed; Facebook identifies interested users.
• For new ad accounts, broad targeting avoids unnecessary interest testing.

Understanding Facebook's Algorithm

• Facebook targets based on creative, not campaign settings.
• Initial impressions determine audience interest and engagement.
• Continuous exploration of new audience segments for scaling.

Crafting Effective Ads

• Understand your audience's characteristics and awareness levels.
• Tailor ads to resonate with potential customers.
• Example discussed: Trapet MD’s ad targeting cat owners.

Metrics to Monitor

• Frequency: Keep under 2x if not retargeting.
• CPMs: Broad targeting reduces CPMs; niche targeting increases them.

Conclusion

• Emphasizes the role of creative in ad success.
• Encourages viewers to explore more resources for further understanding and implementation.

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Note: The presentation also invited questions and offered additional resources for further learning on e-commerce ad strategies.