5 ways to increase conversion rates for paid ads in 2023

In 2023, it’s estimated that digital ad spending will increase by 10%  and reach $626 billion. 

Facebook Ads cost $0.94 per click and $12.07 per 1000 impressions, on average. If your campaign goal is to earn likes or have users download your app, you can expect to pay ~$1.07 per like and $5.47 per download.

The high costs of paid ads motivate businesses to constantly seek new and innovative ways to improve their paid ads marketing efforts. And one of the most important aspects of any paid marketing campaign is to achieve a high conversion rate. 

That’s why in this blog post, we’ll be providing valuable insights on conversion rate optimisation for Facebook and Google paid ads in 2023. From the importance of targeting the right audience to the significance of ad copy optimisation, you’ll discover actionable conversion rate optimisation best practices that can be implemented to drive conversions and maximise the return on investment. 

Why optimising paid ads’ conversion rate is important?

In a nutshell, a conversion rate is the percentage of people who take a desired action after viewing an ad. This action could be anything from a purchase, a sign-up, or any other desired action that the business is looking to achieve.

Conversion rate optimisation is critical for any business that’s looking to maximise the return on ad spend from its advertising efforts. 

For marketers, a high conversion rate means their ads effectively drive the desired actions, and their advertising budget is being used efficiently. A low conversion rate, on the other hand, suggests the ads are not resonating with the target audience and that the advertising budget is not being used effectively.

Improving the conversion rate should be a priority because it allows businesses to optimise their advertising efforts and achieve better results. By analysing the data and identifying improvement areas, businesses can adjust their ads, targeting, and overall marketing strategy.

In the following section, we’ll discuss the most common factors that affect ad conversion rates. Let’s jump right into it!

Common factors that affect ad conversion rates

Several factors can affect the conversion rate of ads. Here are some of the most common:

• Increased competition: As more businesses enter the market and compete for the same audience, ad conversion rates can decrease. This is because there are more options for consumers to choose from, and it can be harder to stand out from the competition.
• Changes to your website: Even small changes to your website, such as a new layout or updated product images, can affect ad conversion rates. It’s important to test any changes before implementing them to ensure they positively impact conversion rates.
• Consumers are doing more research: With so much information available online, consumers are taking more time to research products and compare prices before making a purchase. This can lead to longer sales cycles and lower conversion rates.
• A lack of commercial or transactional intent among users: Commercial and transactional intent keywords are those used by users when they are ready to make a purchase. For instance, phrases like “best project management software for small businesses” or “professional project management tools” are keywords that search advertisers target, but the commercial intent could be lower. Additionally, there could be a broader trend of users not actively seeking to buy, which could be influenced by various factors.
• The roll-out of the Performance Max and Advantage+ automated campaign types: Automated campaign types, such as Performance Max and Advantage+, can help increase ad conversion rates by optimising ad delivery and targeting the right audience. But, if they don’t get enough feedback signals and can’t train their ML algorithms, they can also lead to lower conversion rates. It’s important to monitor and adjust these campaigns to ensure they are performing as expected.

The following chapter will walk you through five conversion rate optimisation tips for boosting your Google Ads and Facebook Ads conversion rates in 2023. Let’s proceed!

5 ways to increase conversion rates for Google Ads and Facebook Ads - 2023 best practices

The world of marketing is always changing. A strategy that was performing well yesterday may not be relevant today. It’s marketers’ responsibility to always seek new strategies that will help them achieve the desired targets. 

In the following section, we’ll be reviewing the top five conversion rate optimisation strategies for Google Ads and Facebook Ads based on our extensive research and knowledge of the industry. 

Select the Right Marketing Objectives

Choosing a campaign objective that doesn’t align with the results you want to achieve is one of the most critical errors when it comes to paid ads. Selecting an objective that doesn’t match your desired outcome puts your campaign at a disadvantage from the beginning.

Your chosen objective communicates to Facebook and Google your campaign goals and the intended action you want people to take after seeing your ad. The algorithm will then show your ads to the individuals in your target audience who are most likely to take that action. 

For example, if you want users to visit your website, you need to make sure you choose this objective. Other possible objectives include anything from users subscribing to your newsletter to signing up for a free trial. 

Once you’ve set your marketing objectives, testing and adjusting them as needed is important. Monitor your results and make changes to optimise performance and increase conversion rates.

You can even consider using automated campaign types. Google Ads has Performance Max and Facebook has Advantage+, which can help you increase ad conversion rates by optimising ad delivery and targeting the right audience.

Use ad optimisation tools

Just as a handyman relies on their tools to construct and repair, marketers too require a set of tools to enhance their productivity and streamline their efforts. In fact, conversion rate optimisation tools are essential for marketers who want to improve the performance of their paid Facebook and Google ads. 

These tools provide a wealth of data and analytics that can help marketers make informed decisions about how to increase the conversion rate of paid ads for better performance. They can help marketers: 

• Better target ads to specific audiences based on demographics, interests, behaviours, and more. This helps ensure the ads reach the right people and increase the chances of conversions.
• Identify which ad copy and images are performing best, which keywords drive the most traffic, and which ad placements are most effective.
• Save time through the use of automated features. For example, features like automated bid management can help marketers ensure their ads are being shown to the right people at the right times.

The good news is there are several conversion rate optimisation tools available for Facebook Ads optimisation and Google Ads optimisation that can help marketers improve the performance of their campaigns. Some of these tools include Optimizely, Hootsuite ads, SEMrush, AdEspresso, and more.

Another fantastic tool is the Conversion Modelling Platform by SegmentStream, which can provide more feedback signals for Smart Bidding campaigns. 

In short, Conversion Modelling is a powerful tool that helps marketers analyse and optimise the performance of their ads by analysing user behaviour during each session. Segment Stream tracks how users interact with a website, for example adding items to a cart or reading reviews, and sends this information to a Machine Learning algorithm. The algorithm analyses each website visit and predicts the probability that the user will make a purchase at the end of each session.

If the probability is high enough, a Modelled Conversion is generated, providing advertisers with a more accurate picture of the value of each ad click. This ensures that ad clicks are not given zero value when users convert on another device, browser, or cookie. By using a Conversion Modelling platform by SegmentStream, marketers can attribute relative value to each paid click, improving the performance of their Facebook and Google ads campaigns. As a result, marketers can get more revenue from their ad budget.

Detect and fix tracking issues

By regularly monitoring and troubleshooting tracking issues, marketers can ensure that their paid Google and Facebook ads are providing accurate and actionable data.

There are a few ways how marketers can detect and fix tracking issues with their paid Google and Facebook ads. Some of the most common methods include:

• Regularly reviewing analytics and conversion data: By doing so, marketers can identify any discrepancies or unusual patterns that may indicate a tracking issue.
• Checking for broken links or missing tracking pixels: Broken links or missing tracking pixels can prevent data from being properly collected, so checking for these issues is an important step in troubleshooting tracking issues.
• Testing different tracking methods: Marketers may want to test different tracking methods, such as using both UTM parameters and conversion tracking pixels, to ensure that data is being accurately collected.
• Utilising ad optimisation tools: Ad optimisation tools can help identify and fix tracking issues by providing detailed data about ad performance and identifying areas for improvement.
• Checking for third-party errors: Sometimes, tracking issues can be caused by errors with third-party tools or platforms. Marketers should check with their vendors to ensure that everything is working properly.

Create a landing page that’s customised to your ad campaign

A landing page customised to your ad campaign can help increase the likelihood of conversions. The best landing pages contain the right message and call-to-action that guide users toward taking the desired action. In addition, a well-designed landing page can help build trust and credibility with potential customers.

To create a landing page that’s customised to your ad campaign, consider the following best practices:

• Keep the design and layout of your landing page simple and uncluttered. This will help reduce distractions and make it easier for users to focus on the main message.
• Use images and videos that are relevant to the ad campaign and reinforce the message.
• Make sure the call-to-action is prominent and easy to find. This could be a button or a form that users can fill out to take the next step.
• Make use of social proof such as customer reviews, testimonials, or case studies to build trust and credibility.
• Use A/B testing to try out different versions of your landing page and see which one performs the best. This will help you optimise your page for maximum conversions.
• Consider using heatmaps and other analytics tools to track user engagement and behaviour on your landing page.
• Use responsive design to make sure your landing page looks great on any device.
• Optimise your landing page for SEO to help improve visibility and drive more traffic to your site.

Check and improve your Quality Score

Quality Score is a metric that considers an ad’s relevance, the landing page experience, and the expected click-through rate (CTR). It’s important to understand these components to improve your score.

To check and improve the Quality Score for a paid ad campaign, marketers can take the following steps:

• Check the Quality Score: The Quality Score can be found in the account’s Ad Group or Keyword tab. The score is on a scale of 1 to 10, with 10 being the highest.
• Improve the relevance of the ad: Make sure the ad copy and keywords are relevant to the product or service being offered. Also, consider using ad extensions to provide additional information to users.
• Improve the landing page experience: The landing page should be relevant to the ad, load quickly, and be easy to navigate. It should also provide a clear call-to-action (CTA) and have a form to capture lead information.
• Optimise the expected CTR: Use ad scheduling and targeting to reach the right audience at the right time. Also, consider testing different ad formats and ad copy to increase the CTR.
• Monitor and adjust: Keep track of the Quality Score and make adjustments to the ad, landing page, and targeting as needed to improve the score over time.

Key takeaways

Paid advertising can be a valuable investment for businesses looking to increase brand visibility and drive conversions. With the increasing cost of paid ads, it’s more important than ever to have a solid strategy in place to achieve a high conversion rate. 

The five conversion rate optimisation strategies discussed in this blog post, including targeting the right audience, optimising ad copy, and leveraging user data, can help businesses maximise the return on investment and see real results from their paid advertising campaigns in 2023. 

By implementing these strategies, you can increase your chances of success and achieve your marketing goals in the competitive world of paid advertising.