Facebook Sales Conversion Optimization Analytics Project
Project
COLORADO STATE UNIVERSITY CIS 575 Final Project
COMPLETED
December, 2021
Team
Christopher Pace, Korye Blackmon, and LaRae Richards
Social media marketing allows our company to reach a large audience of potential customers, and to gain online presence on various platforms. Of these platforms, Facebook is the largest and has one of the most sophisticated marketing resources available. Due to the various marketing strategies available, it is important to identify which of these strategies and ad campaigns produces the highest conversion rates and provide the best return on advertising spend (ROAS). According to a recent study by Rakuten Marketing, digital marketers estimated that 26% of their marketing budget was wasted and spent on the wrong strategies and channels (Rakuten Marketing, 2018). By better understanding our target audience, ad campaign production, and ROAS, we can work towards creating efficient advertising campaigns that yield high results and maximize our advertising budget. Using historical data and data models, we look to identify the ad campaigns that result in the highest conversion, and those campaigns that result in a potential net loss. If successful, we can maximize our advertising budget, increase revenue, and grow our online presence on the largest social media platform in the world.
ABSTRACT
Business Problem
Our company is looking to maximize our Facebook ad spend. We can accomplish this by examining the data to identify which campaigns and customers are most likely to purchase our company’s products and which campaigns are most effective in reaching our target audience.
Business Objective
We propose building a model that can help predict the ROAS of a Facebook campaign based on campaign and audience dimensions. Using this model, we can better examine which campaign attributes will drive optimal performance. This information will allow us to determine in real-time which ad, gender, age, and interest group we should discontinue and which ones we should increase spending to maximize ROAS.