3 Min Read
While planning some Facebook campaigns, I noticed a couple of new features that Facebook recently introduced to ease the life of advertisers. These features are awesome and definitely worth a try!
Split testing is just the same as A/B testing, in which Facebook will test your campaigns on the basis of the parameters you select. It also allows testing 3 variations like A/B/C testing. However, you can only test one variable at a time. The system will create a different group of audience and run the campaign. You can select the one of the following option and Facebook will make variations for you:
When you open your ad manager or power editor, you should get an option to create the campaign. Within that, you need to select a checkbox which asks you to do split testing on the campaign.
Facebook offers the following techniques for testing:
There are two types of budget methods available:
a. Even Split: The budget will be divided equally amongst two ad sets.
Customer Lifetime Value Feature is another cool feature you should check out. Facebook recently added this option in the audience section. To understand the feature you must be aware of “lookalike audiences” on Facebook. When you create lookalike audiences, you upload a list of the customers and Facebook finds a list of people who match that audience. By using the LTV feature, Facebook will help in finding those audiences which are most likely to react to your ad and expand your business.
Basically, the transactions made by a customer with the company in past determines the lifetime value of that customer. It’s completely monetary and depends on how much a client has already paid you. The lookalike audiences for higher LTV customers could drive valuable customers to your business. Facebook uses LTV to find people who are similar to your highest value customers.
You can create the audience in Business manager -> Audience section.
These are the following steps you need to take to target LTV audience.
Another feature is Fullscreen Canvas, a mobile experience. You can create a custom layout to drive better engagement.
I have used these features for my campaigns. The cost of running campaigns has reduced, and it is easier to generate leads. Cost-per-Click is also reduced and the CTR has been better than the previous campaigns. I loved these tools. I hope you will find them useful too!
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