There is no such thing as definitive best practice for Facebook Ads. It is a constantly evolving marketplace and like any digital campaign what works and what doesn’t is not always intuitive. But here are some tips to get you started:

  1. Segmentation Matters - the most critical element of a Facebook campaign is targeting. The smaller the segmentation and the more relevant the call-to-action, the higher the performance. There are many tools to do this, including Facebook's Custom Audience and Lookalike tools, but remember, while these tools give a lot of granularity on attributes, they do not segment by wealth, income or propensity to spend. Tools like WealthEngine can supplement Facebook's audience profile data with wealth intelligence, allowing you to engage directly with audiences that not only have affinity to your brand, but can afford your offering.
  2. Don't Guess - insight beats intuition (most of the time). While it is good to test new audiences, starting with audience characteristics that you know from experience will convert is key. Your campaign partner should be able to work with you to model the attributes of your existing customers and find new audiences on Facebook with the same wealth and lifestyle attributes. WealthEngine can work with you to do this; we can even take your offline CRM data and connect you with your customers on Facebook.
  3. Images Convert - especially for the image-conscious HNW market. You have a split second to get my attention on Facebook and images are by far the most effective way to do that. But, you’d be surprised what converts and what doesn’t, so make sure you split test your images. And don’t get too cute! If you make your message too clever or complicated, people will move on.
  4. Call-to-Action Is Critical - you've got their attention and they’ve clicked your ad. Now you have to convert their interest to your main point of business. Make sure your landing page matches your ad copy and image. Use the same image types and the same language and make sure you have a clear call-to-action. Getting to “no” can be critical, especially for luxury providers. There will be many brand followers and casual observers who click on your ads, so if your goal is to sell them something, make it clear. Your CTR may go down, but you’ll convert more.
  5. Exploit New Ad Types Quickly - Facebook changes their ad types frequently offering more opportunities to marketers to engage their audiences in more and more creative (and potentially effective) ways. Responding rapidly to these new opportunities is critical as users develop ‘ad blindness’ over time. Fast responders will stand out from the crowd. Specialist partners like WealthEngine, who make it their business to know Facebook’s complex market place can help you react to these new approaches quickly.

We hope these tips get you started on the right path or give you food for thought as you optimize your Facebook strategies.

If you'd like to know more about WealthEngine's Facebook custom audience development, campaign management or analytics solutions, just reach out with your details and we'd be happy to answer any questions you may have.

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