To get the most out of your Facebook ads you need to optimize them. Let’s look at some excellent tips on how to accomplish that.

#1 Target Your Audience Based on Income
Some businesses target the higher income population, some sell items that cost more than their competitors and some sell low price point items. Facebook is a great place to sell your items no matter what the price point because you can target your income group based on their yearly income.

Go to Power Editor or live account and enter the settings for your ad set. Then click on more demographics, then clock Income to select your targeted income group.

#2 Identify Genders and Age Groups With the Potential to be Profitable
Not all gender or age groups will perform the same. You can easily miss an opportunity or find yourself with an age group that’s not profitable. The way to avoid this is to analyze the performance of a specific gender or age group.

You can do this by logging into your Ad Manager, click Reports, then Report Options. Next choose a date range you wish to analyze, then click Customize Columns to choose the values to report on.

#3 Set up Remarketing Pixel
Visitors that arrive at your website from traffic sources like Google AdWords, but that do not convert are usually price comparing. By the time they are finished doing their comparisons your business is not even a memory. Facebook remarketing can be really handy for reaching traffic that came from Google AdWords originally.

To create a remarketing pixel,  log into your advertising manager, click on Audiences, then click on Create Audience. Next click Custom Audience, then Website Traffic (top-right corner of the screen) and begin the step-by-step process to create your remarketing pixel. Install the code in your website’s footer, then return to your Website traffic drop down menu and choose People Who Visit Specific Web Pages. From here you can create lists of people that visit a specific website page and target/exclude accordingly.

#4 Test Audiences That Look the Same – Lookalike Audiences
A lookalike audience is simply a list of users that share similar characteristics to users of a site’s specific audience. There are tons of opportunities here. For example, you can advertise to those who are the same or similar to those who visit your site already.

To create a lookalike audience, log into Advertising Manager, choose Audiences. Next click Create Audience and then choose Lookalike Audience from the drop down menu. Choose Select the Source Audience of your Lookalike Audience and Target Country. Lastly, pick the size of your audience. The smaller the size the more targeted.

Facebook ads can be very profitable bringing highly targeted traffic to your site. You just need to understand all the dynamics of setting up a successful Facebook ad campaign and how to make sure you optimize it.