The life of a campaign manager on Facebook has changed over the last few years. Back in the day, figuring out the right creative to use for a particular audience was pretty simple since there was only one ad type – the domain ad – to choose from, and only a handful of targeting options.
Over the years, Facebook has developed into a more sophisticated channel and a force to be reckoned with across the digital marketing landscape. If utilized correctly, Facebook not only delivers great results to digital advertisers but can also help businesses grow. This is largely due to the evolution of Facebook’s targeting options, as well as the rich selection of creative types available to the advertiser.
Nowadays, every campaign manager knows that in order to see good results, you need to find the right combination of Campaign Objective + Targeting + Creative + Placement.
Easy enough, right?
To do this, you need to create, optimize, and analyze hundreds of different creatives, audience types, campaign objectives, and placements, not to mention varying combinations of each of the factors above. This can take up a hefty amount of time.
Leveraging a platform that provides an easy creation flow, where you can create and match different creatives and audiences at scale, with sophisticated analysis capabilities and easy bid and budget management tools, can help significantly. However, this whole process still takes time and identifying exactly the right combinations remains challenging.
Advertisers often ask:
- Which combination of placement and targeting would work best for which objective
- Should I split targeting by placement?
- Which bid strategies should I use for each creative type?
- What about the new ad / placement / bid type that Facebook just released?
Instead of trying to answer these questions (there isn’t always one right answer), we recommend that advertisers leverage Kenshoo’s Portfolio Optimizer (KPO), a powerful technology that automates the answers to these questions in real time!
The Power of Portfolio Management for Facebook Campaigns
KPO allows you to group ad sets that share the same KPI goal, and optimizes bids and budgets based on the goal you set. The great thing about KPO is that you don’t need to decide which campaign objective to use, which placement works best, or what’s the best creative for a specific audience. Your only job is to put all of your ad sets for a particular initiative into one portfolio, and KPO will do the rest for you!
KPO can hold any combination of creatives, ad types, bid types, placements, and even campaign objectives. It identifies growing opportunities in audiences in real time, and acts quickly to maximize the results of your campaigns.
How does it work?
Based on current and past performance, KPO’s model-based algorithm predicts the future potential of every single ad within the portfolio. It then allocates the budgets to the best creative, objective and bid type. KPO is also fully transparent so you can keep track of every change that the algo makes and the reasons behind it.
You can achieve the results you want and apply the most successful combinations to your future campaigns (or just keep letting KPO do the heavy lifting for you)!
So what do I need to do?
- Define – Start by defining your business goal. Let’s say you have an upcoming promotion and you’d like to spend $100k. Define your budget accordingly and set your desired ROI.
- Create – Leverage Kenshoo’s creation flow to test out different combinations easily and at scale: For example, you can upload multiple creatives per audience, set various bid types, and duplicate these into two different objectives (e.g. clicks to website and website conversions).
- Group – Group all of these ad sets into a single portfolio. Let KPO monitor the performance of each ad and optimize bids and budgets according to your specific goals and conversion metrics.
- Analyze – Learn from KPO’s budget allocation about which combinations worked best for you, and leverage those findings when launching new campaigns.
To summarize, KPO answers your most challenging questions in real time and ensures you are always tracking toward your goals! It checks which objective, targeting and creative are performing best at any given moment, and takes action accordingly. If any changes and adjustments need to be made — which is often the case (even at 2am!) — rest assured that KPO is doing just that!