Yesterday, we were at Unbounce's Call-To-Action Conference and one of the talks that really stood out to me was Larry Kim's (Founder of Mobile Monkey & WordStream) Facebook Ads Strategies.
All of his advice is super actionable and he provides a breakdown of his actual processes to executing the strategy (which a lot of people don't do when showing their case studies!).
Here is a brief rundown of each hack:
#1: The Inverted Unicorn Ad Targeting Method
- When people run Facebook Ads they typically use related interest targeting
- With the Unicorn Ad Targeting Strategy, you are essentially targeting two completely unrelated interests while reflecting that in your ad copy & creative
- This could potentially help you reach extremely low ad costs because of the unusually high engagement rate with this hyper targeted audience
- When the audience is way too huge with a small budget to match, this would be a great strategy to use
#2: Facebook Web Traffic Bomb
- This strategy is inspired by the New York Times Book Review. Often times, when people come out with a new book, they give out their buy out their inventory completely to hack the New York Times List and become a "Best Seller", which gets them featured on their list where they can get a lot of organic traffic and sales.
- Media Sites like Hacker News, LinkedIn Pulse, Reddit and Medium work just like this
- All traffic is good traffic for these sites, so Larry's strategy is to buy ads for the cheapest clicks possible (ie. targeting third world countries -> $0.01 Per Click) to drive so much traffic that these platforms will have to feature the content in their top stories/post sections
#3: The Russian Ad Targeting Method
- This strategy was Larry's experiment with seeing how he could reverse engineering the polarizing engagement from Fake News / Political Ads to apply to his own content
- What he does here is create a piece of polarizing content and create ads that target both ends of the ideological extremes on the spectrum
- For example, his article on "Working Moms Raise More Successful Daughters and Empathetic Sons: Harvard Study", he targeted Mom Entrepreneurs / Working Moms as he knows they are likely to engage with it because it validates their life choices. While simultaneously, promoting to the other end of the spectrum - stay at home moms. He understands that this will trigger a strong opinion from this audience and will create lively engagement & discussion.
#4 Crazy Remarketing Strategy
- Only run remarketing campaigns - especially if budgets are tight (set 100% of ad budget to remarketing)
- Remarketing Ads generates +2-3X higher Click Through Rates & Conversions
- On average 70% conversions come from remarketing audience, but for most people remarketing is only 10% of their ad budget
- Flip the script: Make 90% of your ad budget allocated to remarketing and 10% to new non-remarketing audiences
#5 Reciprocal Remarketing
- In this example, Larry reached out to Neil Patel to collaborate. They aren't direct competitors, have similar audiences and a large number of fans.
- So, they decided to leverage each other's platform. Larry would promote Neil Patel's products on his platform by remarketing with Facebook Ads to his own audience and Neil Patel would do the same for Larry. This allows them to expand their audience pool at a fraction of the cost.