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In the dynamic world of digital advertising, reaching the right audience is paramount. Finding less competitive target audiences can significantly enhance the effectiveness of your Facebook advertising campaigns and also save you a few testing dollars. In this article, we'll explore a step-by-step guide on how to identify these audiences and improve your ad reach.
1. Navigate to the Ad Set Level
To begin the process of identifying less competitive target audiences on Facebook, you'll need to access the ad set level of a manually set up campaign. It's important to note that advantage shopping campaigns won't allow detailed targeting, so we'll focus on standard campaigns for this method.
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Here's how to access the Ad Set level.
2. Choose Your Interest Group
For the sake of this example, let's imagine you're promoting a combat strategy board game. In the ad set level, you'll find a list of interest groups to choose from. Your goal is to pick an interest group that aligns with your product and has the potential for a less competitive reach. (Make sure you select "Switch To Original Audience Options").
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Switch to original audience to access detailed targeting.
For instance, you might start by selecting "Entertainment > Games > STRATEGY GAMES." In doing so, you'll notice an estimated reach of 219 to 644 users. Now, while this audience may seem relevant, it might also be quite competitive. To identify less competitive audiences, you should deselect this group and explore other options. In this case, you might try "Entertainment > Games > BOARD GAMES." By selecting this interest group, you'll see a considerably improved estimated reach of 599 to 1.7K users, all with a daily spend of $20 CAD.
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The Board Games interest group offers a greater reach with the same budget.
3. Finding Less Competitive Audiences
The key to identifying less competitive target audiences on Facebook is to search for interest groups with the greatest estimated reach. While this method doesn't guarantee a lack of competition, it serves as an effective rule of thumb to rule out extremely competitive interest groups.
Does Greater Reach = Better ROAS?
Greater reach is a desirable metric in Facebook advertising, as it often equates to lower CPMs (Cost Per Thousand Impressions). When your ad reaches a larger audience, you're likely to pay less for each impression. This can help stretch your advertising budget and make your campaigns more cost-effective. However, it's important to note that while greater reach can lead to lower CPMs, it doesn't always guarantee that your CPC (Cost Per Click) will also be lower. Two Important factors come into play:
Audience Quality: A larger audience doesn't necessarily mean a more engaged or relevant one. In fact, a broad audience can sometimes include users who aren't genuinely interested in your product or service. These users may click on your ad but not convert into customers, which can drive up your CPC.
Product-Market Fit: The alignment between your product and the audience's needs is crucial. If your product doesn't resonate with the broader audience, you may end up paying for clicks that don't lead to conversions.
The Bottom Line
Aiming for a greater reach is a smart strategy to lower CPMs and potentially expand your reach, however it's equally important to maintain a strong focus on audience quality and product-market fit. Balancing these factors will help you achieve the most cost-effective and successful Facebook advertising campaign. Keep analyzing your campaign metrics and adjusting your strategies to strike the right balance for your specific business goals.
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