Use the Facebook Split Testing Feature to Identify Your Most Profitable Audiences
As a brand owner, you must know that all of your audiences aren’t the same. Knowing this means that you need to take a better approach to your ad campaigns. The same ad is not going to appeal to all of your audiences. Based on their past interests, browsing patterns and location you can get an idea of the kind of needs they have. Data-driven marketing is the best way to get the best out of your Facebook ad campaigns.
Now you can just stop running ads based on mere assumptions. Taking your time to analyze and understand raw data about your customers through the data-driven funnel gives your ad campaign a solid backbone to lean back on. Facebook offers you with a new Split Testing feature which makes all of this a lot easier and straightforward.
What is Facebook Split Testing?
Split Testing is basically a new tool that Facebook has put forward so that we can make better-targetted ads. The split testing feature analyses on five different variables:
Based on these variables, Split testing figures out the best ways to future campaigns.
We are going to be looking at the audience split testing for now. Because this is the most important part of it and understanding it can help you loads with your entire business strategy.
How does it work?
Socialmediaexaminer has given the perfect explanation of the inner workings of split testing:
The split testing feature is able to deliver statistically significant data (compared to running a campaign without it) because it divides your audience into random, non-overlapping groups. The randomization helps ensure the test is conducted fairly because other factors won’t skew the results of the group comparison. It also ensures each ad set is given an equal chance in the auction.
Note that within a Facebook split test, you can have up to five variations of your test variable (five different ads using the creative split test, five different audiences with the audience split test, or five different placements with the placements split test).
Using Facebook’s attribution system, the cost per result of each ad set is calculated and compared. The ad set with the lowest cost per result, such as cost per video view or link click, wins.
Facebook then uses the data from the test itself, in addition to thousands of simulations based on it, to give you a confidence level in the results. It’s reported as a percentage and is the likelihood you’d get the same results if you ran the test again.
After your test is complete, you’ll get a notification and email containing the results, highlighting the winning test variable.
What do I do with this information?
Based on all the data collected from your campaign, Facebook separates your ad campaign based on the traffic temperature. Your campaign is either Hot, Warm or Cold based on the predicted data. Make changes and alter your strategies so that you get the traffic that converts.
Ads are an investment and we all want that sweet return that’s worth it. Data-driven marketing makes things more dependable on your end. You have something to rely on. And even if it fails, you have something to learn from. Overall, Split testing is something that you should take seriously while running ad campaigns. Have something that you want to add to our blog or a doubt you would like cleared? Do drop down your thoughts in the comment section below and we’ll get back to you as soon as possible. Until next time.