If you own a SaaS business, marketing is by far one of your top priorities, but how can you go about it? Finding marketing strategies that will bring your business a solid return on your investment is a difficult feat for every organization out there today.
Chances are, you have probably chosen to focus on Facebook as your primary advertising platform.
Facebook is certainly the go-to for many businesses thanks to their extremely targeted marketing options, their easy-to-setup campaigns, and the fact that a large part of your client base is probably already using the platform.
Add in the fact that Facebook allows you to set and scale your budget down to the penny and it’s truly the most flexible advertising method on the internet.
With the right tips, it can also be one of the most effective.
But, how do you go about getting the most out of every penny you put into Facebook advertising for your SaaS business? These ten tips will help you find the answer.
#1 Use Conversion Pixels
Are you struggling to figure out who to market to? Is your campaign audience based on guesses and estimations?
The trick to target the right people is to use a conversion pixel to determine your ideal audience. You can create a lookalike audience based on the people who have hit your conversion tracking pixel at the final step of your product’s signup process.
While setting this up will take a little bit of time, it can give you a huge amount of valuable information for now and in the future. Basically, it means that Facebook’s technology will help you target people similar to those who have already converted on your website.
Here’s a bonus tip to go along with the above: Facebook is able to track the profiles of users who signup through other marketing channels too if you have the Conversion Pixel on your page.
So, you can go ahead and add it to your site long before you choose to run your first campaign, and that means you’ll have a targeted audience when the time comes to start marketing with Facebook ads (you can also go ahead and do it now, as the information will certainly be valuable for the future).
#2 Use A List
While the Conversion Pixel has been shown to be seriously effective at driving low-cost and high-conversion marketing, if you don’t have one installed, you aren’t out of luck. You can make a lookalike audience for your campaign another way:
By uploading your existing users’ emails into Facebook. Facebook will search for data on them and use it to help narrow your campaign’s demographics.
By having a lookalike audience, you can find a new source of signups at a lost Cost-Per-Action (CPA) and you’ll generally be able to scale this audience to a higher volume too.
#3 Optimize for Web Conversions
One of the best ways to up the effectiveness of your Facebook ads is to simply use all the tools that are at your disposal. Some people do not realize the true value of each setting when they are creating their campaign, and they often overlook the important details.
Facebook ads are very smart and they will do a lot of optimization for you right out of the box.
To help improve the results you get, simply set your campaign’s objective as “Website Conversion”. This means Facebook will focus on getting you new signups on your site rather than just click-throughs to the page.
When setting up your Ad Sets, Facebook will ask exactly what conversion event you’re trying to optimize for. With the Conversion Pixel already setup, you can aim for a free trial signup or an upgrade pixel.
So, optimize your Ad Set for “Website Conversion” and set the price to “Get the most website conversions at the best price.” Of course, if the Conversion Pixel hasn’t been active for that long, Facebook won’t have much data to optimize on.
In that case, begin by optimizing with clicks and switch to Website Conversions once you have a data set built up.
If you don’t already know it, re-targeting happens to be one of the best campaigns you can run when it comes to Return-On-Investment (ROI). That’s because you are going after users who have already visited your site or expressed interest in your SaaS product in some way.
The thing that most businesses don’t know is that you can run your re-targeting campaigns via Facebook’s native ad platform, the Power Editor.
Today, there is not much value in using a third-party FBX platform like AdRoll. Instead, stick with Facebook’s platform and setup your re-targeting campaigns as unique campaigns (don’t just generate a separate Ad Set). This will allow you to easily track your retargeting results.
With these results, you can compare them to other top of funnel campaigns you’re running. Generally, you’ll want to set up your re-targeting lists as an excluded audience from the other campaigns you’re running.
#5 New User Activation
If you are serious about growing your SaaS business, Facebook Ads can help you in many different ways. One particularly powerful strategy you can be using is taking advantage of Facebook Ads to activate your recent free signups and get them to actually start using your product.
All you have to do is setup a re-targeting campaign that will trigger after someone visits a specific URL. This URL will be one that can only be accessed after signing up for the product, like your signup success page, for example.
In your User Activation campaign, your ads should be focused on educating new users about all of your product’s benefits and features. You might even consider a short video ad to do this.
#6 Promote Upgrades
Facebook Ads can be used to help you encourage free trial members to upgrade to a paid service. You can also use them to push mid-level users to high-level accounts that will earn you more money.
The only thing you need to do is setup a campaign that will target these two audiences:
- A retargeting list of people who have recently created an account on your website.
- A custom audience based on the emails of your current free users.
Keep in mind that you may want to segment users who are actively engaging with your product. Those who aren’t can benefit from the campaign suggested in the previous tip.
For these audiences, you may also want to run ads that promote your product’s benefits and features. Additionally, you should be thinking about ways to push special coupons and deals that might convince them to upgrade now rather than later (or never).
#7 Exclude Audiences
In addition to targeting audiences very precisely, Facebook also allows you to exclude audiences. This is very valuable to ensure that you aren’t wasting advertising funds on existing users when you are trying to target new users.
You can exclude just people in your audience of existing users, or you can target everyone who has visited your site in the past to ensure you are only paying to reach brand new leads.
#8 Post Regularly
Don’t get carried away with constantly marketing to new leads and re-targeting to current users that you forget about the importance of offering real value. Your Facebook page should have a steady incoming stream of quality content that people who visit your page will be compelled to look through.
Posting regularly will also show users that your business is active and it will instantly add to their perceived trustworthiness of your company. Share helpful links to your site, educate customers and potential customers, and most of all: keep them entertained.
People are on Facebook for a mental break, not to be served up a bunch of advertisements.
#9 Promote Your Content
While you likely know the value of content marketing, you probably don’t realize how valuable Facebook can be when it comes to promoting your content. If you do it right, you can use your blog posts as native ads to help get you more email leads and free trials signups.
Try promoting your content to your Facebook fans, lookalike audiences, and the fans of your competitors.
#10 Trust Facebook
Many business owners get weary about how much control they are handing over to Facebook’s algorithms. After all, if you follow all the tips being given, you’ll end up letting the algorithms decide (at least in part) who you are targeting, how much you’re spending, and many other crucial parts of your campaign.
The best advice anyone can really give you is to trust Facebook with this optimization process. The algorithms will use all the data at their disposal to get you the most SaaS signups at the best possible price.
Right out of the gate, letting Facebook take these things over will help get you results. With time, you can fine tune it to improve the performance of your campaigns even further.