How does your Facebook advertising compare to others?

And how to improve its results

Comparing yourself to others is almost never a good idea, but when we're talking about Facebook ad results, sometimes it's important to have a little more context. Not to be envious of your competitors, but to know if there's room for improvement in your results. Or there isn't.

Maybe you work at a digital agency, have your own business, or just run ads for your side project. Whatever your personal history with Meta's ad platform, you've probably wondered if the results you're seeing are high or low compared to other ads. .

💡 What is the normal CTR for a business like yours? Is it normal to pay 5 BGN per click? Is this conversion rate real?

The answers to these questions depend on many factors, most of which are directly related to the specifics of your business. However, we want to be helpful, so we won't leave things at that.

👉 First we'll see what are the most important factors that determine whether you'll get good results from Facebook advertising, then we'll take a look at real data with averages for some industries. Finally, we'll share some tips on how to improve your campaign performance to increase your turnover and sales.

Here is what you will find in this article:

• What do good results from Facebook advertising depend on?
• How to compare your Facebook advertising results with others in your field?
• What is Meta Ads Benchmarking?
• How to improve your Facebook advertising results?

Let's get started!

What do good results from Facebook advertising depend on?

There are many factors that affect the performance of your Facebook ad. But today we'll focus on the most important ones.

When you launch your campaign, pay special attention to these four steps. If you get them wrong, the consequences for your campaign can be really serious.

🎯 The goal you have set

One of the main reasons why advertising does not achieve the desired results is an incorrect target.

Facebook offers different types of campaigns depending on whether you want to increase brand awareness, generate traffic or achieve conversions.

Take this into account when choosing a campaign-level goal. Also consider the so-called Performance Goal at the ad group level.

It tells Facebook's advertising algorithm what's important to you - whether you want to achieve the maximum number of conversions, a higher conversion value, the maximum number of clicks, and more.

This choice is essential for showing your ad to the right users - the algorithm can find the people in your target audience who are most likely to take the action you want.

This way you optimize your ad for maximum performance.

📊 Correct attribution of results

It's important to have reliable tracking of results so you can determine what actually works.

Without proper attribution of conversions, it can seem like advertising isn't achieving success, even when it's actually delivering value.

Using tools like Facebook Pixel or the Conversion API is key to accurately tracking user actions.

🎨 Creative elements - copy and design

Text and visuals play a crucial role in the success of your ads.

They can attract the attention of the audience and arouse interest. Or, conversely, they may repel it or not engage it at all.

In today's fiercely competitive newsfeed environment, it's important that the creative elements of your ad are impactful and speak the language of your consumers.

What problem does your target audience have that your product can solve? This question is a good starting point when preparing your campaign.

You need to create content that resonates with your target audience, use clear messaging and include attractive calls to action. Otherwise, you risk low CTR and few conversions.

💰 Budget

The budget you set for your campaign is also essential. The important thing is to pay attention to the right allocation of resources, which will ensure better results.

Low budgets can limit the reach and visibility of ads, but in theory success is possible with them.

It is important to know, however, that in order to achieve success, your ad needs to come out of the so-called Learning Phase. And for that to happen, you need to accumulate 50 conversions (or whatever goal you chose at the ad group level) in one week. This may not be possible with too low a budget and thus may limit your success.

How to compare your Facebook advertising results with others in your field?

Everyone wants specific numbers, so here we bring you WordStream's summary of Facebook Ads' performance for traffic and leads in 2024.

In traffic campaigns, the average CTR is 1.57%.

The average CPC for traffic campaigns is $0.77.

In lead generation campaigns, the average CTR is 2.53%.

The average CPC for lead generation campaigns is $1.88.

The average CPL (cost per contact) for lead campaigns is $21.98.

The average CVR (conversion rate) for lead generation campaigns is 8.78%.

What is Meta Ads Benchmarking?

Basically, there's a miracle of miracles called Meta Ads Benchmarking, through which you can compare the performance of your Facebook ad with that of similar ads and businesses. This way you can get very useful information about your performance against your competitors.

De facto, however, this extra is only available to a limited number of advertisers for now. Fingers crossed that it reaches everyone soon. 🤞

How to improve your Facebook advertising results?

Here are the promised tips, tricks, tricks, best practices - whatever you want to call them. They're all key strategies, some more complex, others simpler, that will help you optimize the results of your Facebook ad campaigns.

⭐️ Choose the type of campaign that fits your business goals

The first step to successful advertising is clearly defining your goals.

Choose the type of campaign that fits your business needs - do you want to increase brand awareness, generate leads or increase sales? Facebook offers a variety of options you can take advantage of.

⭐️ Optimize for the desired result, not for clicks

Advertisers often focus on increasing clicks, but it's important to optimize the campaign for the specific result you want to achieve. By doing so, you're signaling the algorithm to find users who are more likely to perform the action you want.

⭐️ Use Conversion API

With the Conversion API integration , you get more accurate data about your conversions. This tool connects your website data to Meta's advertising platform without using third-party cookies.

This gives you a clearer picture of user interaction with your site and the actions taken after clicking on the ad. This information allows you to optimize your campaigns with greater accuracy.

⭐️ Try Advantage+ Audiences to lower your costs

Advantage+ audiences offer automated targeting that can reduce costs and increase ad effectiveness.

This feature analyses user data and automatically identifies the most relevant audiences for your campaigns.

⭐️ Use AI creative tools for better CTR

Artificial intelligence can help you create more compelling ad visuals and copy, as well as more varieties of the same look.

Use them to generate unique content that will increase your CTR and engage your audience, and save time and effort that you can direct elsewhere.

⭐️ Complement your strategy with other channels

Don't limit yourself to Facebook. Expand your reach by integrating advertising on Instagram, Google Ads or other platforms.

Synergy between different channels can lead to better results and increase your brand visibility.

⭐️ Use automation

Campaign automation allows you to save time and focus on strategic decisions.

Set up automatic budget management rules and adjust ads to optimize your performance. That way, you can increase your ROI and achieve your business goals more efficiently.

You can automate your ad management with automated rules, bidding strategies, A/B tests and more.

⭐️ Do A/B tests

Never overlook the importance of A/B testing - a valuable weapon in any marketer's arsenal.

You can use them to compare different versions of your ads to see which works best. Tests are an essential optimization tool and will help you make informed decisions about your future campaigns.

Good results from Facebook advertising are perfectly achievable, but depend on many factors that need to be carefully considered. Read the rest of our blog articles on Facebook advertising to become a true expert in creating social media campaigns.