Remember those old banner ads? The ones with the dancing figures that advertised cheap mortgage rates and convenient refinancing? The ones that seemed both ever-present and ever annoying online?
Well, they’re back – Facebook style!
And by Facebook style, I mean non-annoying and non-intrusive, as per Facebook advertising policies. But the attitude is the same. Check it out:
So, the ad shows a rather striking picture that’s totally unrelated to the topic, with the sole aim of grabbing attention – sort of like those dumb dancing stick figures.
Why? Three reasons:
- refinancing your home to a much lower interest rate has broad appeal
- refinancing is a high-ticket “sale” that makes smaller conversions pay off
- Super-low interest rates act as their own headline and qualifier – they just need you to look
And that’s about it, folks. So what does this have to do with YOUR advertising?
You’re not offering people a chance to save hundreds of $ every month
Chances are you’re offer doesn’t appeal to nearly as broad a swath of people as the lower my bills ad once did or as the current low-mortgage rate ad does. Which means you really ought to be targeting your audience better than the shotgunned home re-fi ads. How specific have you targeted your ads? How might you slice your ad groups even finer? When I looked at my ad boards page lately, I had ads for
- RV Parks (I don’t own an RV)
- YourWaterBirth.com (neither I nor my wife are pregnant)
- A pink crystal mouse cover (did I mention that I’m a guy?)
- Prescription Eye Glasses (I don’t need glasses)
And so on. The point being that there’s a whole lot of un-targeted ads out there. Don’t let yours be among them unless you have a strong business reason for spraying out the spam.
Choose the right ad effectiveness metric
Second, are you sure you aren’t measuring effectiveness one stop too short on the sales funnel? In other words, are you optimizing for CTR when you should be optimizing for conversions? Are you optimizing for conversions when higher converting ads lead to lower average order value or customers with a lower re-order rate?
If LowerMyBills.com had only looked at CTR for those dancing figure ads they may have abandoned them. But instead they looked at dollars of revenue earned per ad dollar spent, which turned out toe a 4:1 ratio! You should be doing the same. Lots of people get hung up on low CTR for Facebook ads. That shouldn’t be a problem if revenue per dollar spent makes sense. And then when comes time to optimize, again make sure you’re looking at the right metrics to optimize!
Make your message short and powerful
Third, have you bothered to condense your ad offer and message into something that can grasped in one line? You really ought to. Our tests — and Facebook’s own metrics — that shorter punchier ad copy performs better. So that’s one thing to take away from the mortgage ads.
All this from one twisted yoga posing ad picture? Yup. Advertising lessons are everywhere for those who will pay attention and give it some thought. So what kind of thought and testing are you giving to your ad creative? Chances are it’s not enough, and that BoostCTR can help you with it. Why not give us a look?