If you’re spending money on new 2023 Facebook ads, you’d want to get real value for your money. While most people say Facebook’s influence is waning, the truth is that no social media platform has more reach or number of active users than Facebook.
Facebook’s daily active users (DAUs) as of April 2023 is 2.037 billion. This means that 2.037 billion people use Facebook each day.
Facebook’s DAUs have been growing steadily over the past few years but have slowed down in recent quarters. This is likely due to several factors, including the rise of other social media platforms, such as TikTok, and the increasing scrutiny of Facebook’s privacy practices.
Despite the slowdown, Facebook is still the most popular social media platform globally. It has a larger DAU base than any other social media platform, including YouTube, WhatsApp, and Instagram.
Facebook’s DAUs are concentrated in a few key markets. The United States is the largest market, with 180 million DAUs. India is the second largest market, with 369 million DAUs. Brazil, Indonesia, and Mexico are also major markets for Facebook.
Facebook’s DAUs are also growing rapidly in developing countries. This is due to the increasing availability of internet access and smartphones in these countries.
Facebook’s DAUs are an important metric for the company. They measure the number of people who are actively using the platform. This is important because DAUs are a key driver of revenue. The more people who use Facebook, the more money the company can make from advertising.
Facebook is constantly trying to grow its DAU base. The company is doing this by investing in new features and products, such as Instagram Stories and WhatsApp Business. Facebook is also trying to expand into new markets, such as Africa and Southeast Asia.
It will be interesting to see how Facebook’s DAUs grow in the coming years. The company faces increasing competition from other social media platforms, but it still has a strong foothold in the market.
For context, the second social media platform for daily users is Instagram, which averages 58%. Even as popular as it is, Twitter retains only 38% of its total users daily. This data shows that Facebook remains the best place to do this if you’re running ads.
The average cost of Facebook ads is $0.97 per click and $7.91 per thousand impressions. If you’re running an ad, you’d most likely be concerned about your ad’s conversion cost.
The truth is your conversion cost depends solely on your ad itself. And by that, we’re talking about the ad in its entirety – from the headline to the targeting system to the copy and even the image used.
Everything affects your conversion cost. To make sure your ad converts above the industry average, it’s essential to optimize it. In this article, we’ll talk about a few tips that, if applied correctly, will help you earn at least twice the industry average.
Optimize your Facebook Ad Sizes and Images
Most people focus less on the copy of their ads and the image. However, one little trick they don’t understand is that the image is a huge part of any copy.
Your copy might be excellent, but it only works when read. Analyzing advertisements on Facebook has shown that your audience’s click-through rate depends on the headline and image.
Regardless of the headline or body copy, your image will be seen or read. Unfortunately, most advertisers don’t take advantage of this opportunity. But how can you use it to improve your conversion rate?
A great avenue involves making your image a copy of its own. That doesn’t mean you should paste your body copy there. You’d only have a reverse effect as people skip your message. Also, Facebook has a rule that images should not contain more than 20% of the text.
Ensure your image includes the solution your product or service offers and that your offer is in the image.
Remember: your image should always be related to what you’re selling. So, even if users don’t want to read the base copy, the image will help them grasp the idea of your offer.
Eventually, it will lure them in and turn people who’d typically scroll past into conversions. You should spend about 80% of your time on the 2023 Facebook Ads headline.
Your Facebook Ads Headline is Your Showstopper.
As we stated above, two things will be seen in your ad: the image and the headline. But writing a catching headline is not enough: you must ensure it is the best you can put out. Most people outsource their ad writing to a writing services and then put it out there. If you do this, it’s outstanding.
Using writing services is an excellent idea if you can’t write great copies. But remember that most people in the industry use services too, and if you depend solely on them, you’d only end up as an average advertiser. So, when trying to optimize your headline, there are a couple of things you should take into consideration:
- Keep your headline short. Long headlines tend to be tacky, and studies have shown that this approach does not lead to conversions.
- Put numbers in your headline. A recent study has shown that people tend to click headlines with numbers rather than words. For instance, the headline “5 ways to earn money online” would get more clicks and conversions than “Ways to get money online.” This is a great way to instantly increase the number of conversions in your advert.
- When using superlatives in a headline, balance excessiveness and scarcity. After analyzing advertisements on Facebook, it was discovered that up to 51% of users tend to click headlines with zero superlatives. Twenty-five percent of the remaining users clicked the headline with four superlatives instead of other headlines with just 1, 2 or 3 superlatives. This result suggests that people prefer the understated or the all-out approach regarding headlines. If you don’t know how to write great headlines, you can always learn how to do that right.
It’s all About Clicks.
Some advertisers don’t get this: Facebook ads are not designed to sell. Instead, they serve as a funnel to bring clients and customers to you. As such, your ad should make the audience click, but that doesn’t mean you should use clickbait.
If you use it, you’ll be left with many clicks and no conversions. Your goal is to get the audience to click with intent and curiosity. Here’s a little example:
You run a new 2023 Facebook ad with a headline: “This product would change how people see you.”
By default, most people would click on it to see your body ad. Now, the goal is to get them to click the CTA button. And that’s what your copy should do.
Use copywriting skills to reach this goal, but always remember this: people going through Facebook are not in the state of mind to be sold things to.
So, your ad should be designed to promote curiosity while keeping the product in mind. The first line your audience should see in your ad copy should be something like this:
“If you haven’t yet tried X, you’re missing on benefits hundreds of people already use.”
You might not want to use these exact words, but your message should go along these lines. Pander to users’ curiosity by letting them click the CTA button with the intent to make a purchase.
External Validation and Your 2023 Facebook Ads
One secret every marketer knows is this: Social proof will always make your ad work better. By proof, we mean reviews. Restaurants, tourist locations, and even movie and book distributors thrive by displaying reviews and social proof to tell potential customers that their service or product is worth your money.
Your goal now is to implement this proof into Facebook ads. And what’s the best way to do this? Including testimonials in your ads is the way to go. Putting them out there tells the audience that people have used and loved the product or service.
There will be an increase in 2024 Facebook ads with five-star reviews as headlines. Data has shown that ads like these highly convert, so more advertisers are turning to this ad form.
The logic behind this approach is simple: once users have proof to lean on, the risk associated with a product or service vanishes faster. It’s a pretty simple move that can effectively boost your digital strategy.
Scarcity and 2024 Facebook Ads
When writing a new 2024 Facebook ad, remember that people do not necessarily want to buy things. No one likes spending money when they could put it off. So most times, when people see an ad, they say, “Maybe I’ll buy it later,” or “I’ll buy it at the end of the month.”
That’s not good for your ad or your business overall. But you could incorporate the useful old Black Friday element into your ad copy to sell things faster.
There’s a reason why people rush into stores on Black Friday: it’s merely because they think they can only get the best deals on that day and that day alone.
As a result, people troop in and buy products they could get any other day simply because marketers dropped prices a little. More importantly, store owners create a sense of urgency and sell products in limited quantities to raise awareness and lure customers in.
Incorporating an identical strategy into your ad will get you more conversions. Driving a sense of urgency and scarcity by positioning your offer as a “limited” product or advertising it at a “knockoff price” would make your audience feel like they’re about to miss a great deal, and they would rush to get it to make sure they don’t lose out.
Final Thoughts about 2023 Facebook Ads
Today, almost every company and brand owner uses your new 2024 Facebook ads to convert their audience to customers.
However, staying on top of the competition and getting higher conversion rates can be hard. But with these tips, you can get better conversion rates instead of wasting money on ads that never work.
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Frequently Asked Questions (FAQs) on 2021 Facebook Ads
Is broad targeting useful for finding people who might be interested in my product but are not in my target audience?
For ads that are priced based on conversion, broad targeting is suitable. The truth is, it will get you more traffic. But broad targeting is ill-advised if you want to sell or boost your conversion rate. It should be used when you need micro-conversions, like getting people to sign up to your email list. It wouldn’t work to sell products and services, especially when a conversion is a primary goal.
How long do I let my ad run before killing it?
This question is often asked, and the truth is, there’s no definite metric to determining when to say an ad isn’t working. However, data suggests you need at least 150 clicks before determining whether the conversion rate is high or low. Regarding impressions and click-through rates, at least 1,500 impressions are advisable before judging click rates.
Should I reach out to old customers via email?
You absolutely should. There’s a thing called hot and cold customers. Hot customers have purchased an item from you before, and cold customers have not. Ads are geared towards cold customers for the most part, and it’d be a shame not to reach out to people you know are interested in your product and have patronized you before.
Daily ad budgets vs. lifetime budgets: Which is better?
The truth is most marketers use daily budgets. But in this case, it’s a personal choice because ad campaign goals differ. No one is greater than the other, and you should make this choice.