Here’s How To Lower The Cost Of Your Facebook Ads
Before implementing your social media strategy, it’s likely you’ve created a social media budget or at least decided on a range you want to invest into your social channels. Great move! Now, maintaining your budget is where things get a little tricky. Especially with Facebook Advertising that isn’t necessarily optimized to have the lowest cost per click (CPC) possible, blowing through your budget can be as easy as a click of a button.
Make the most of your social media budget by understanding how Facebook Advertising works and learning the ins and outs of social media budgeting. Following these quick tips will help you lower the cost of your Facebook Ads and see measurable results for your business!
Understand your relevance score.
Facebook gives every ad campaign a relevance score, meaning how relevant your campaign is to your targeted audience. Monitoring this score is crucial since your relevance score directly affects your cost per click (CPC).
Although Facebook’s algorithm used to calculate relevance score is not public, it is apparent that positive interactions, like engagement and clicks, improve scores. Facebook prioritizes ad campaigns with high relevance scores and will even lower your CPC with higher scores.
Focus on increasing your CTR.
Click through rate (CTR) is the percentage of users who click on your given ad, and needless to say, you’ll want this percentage high! There are various ways to increase your CTR, including maintaining your frequency of the ad, optimizing your ad design and copy, using appropriate call-to-action buttons, and finding the right audience niche to target.
Highly target your campaigns.
If you don’t strategically showcase your ad campaign to the right audience expect little results. Running highly targeted campaigns gives you an advantage. You’re able to craft ads to fit your exact audience's’ interest for optimal results.
From demographics to behaviors, using different targeting options is your best bet in getting the most our of your ad.
A/B split test.
If you’re not already familiar with A/B split testing, it is a digital form of research that allows you to test variations of marketing materials to determine what material is most effective.
Separate your audience into two random groups and show them different variations of your marketing material, in this case your ad campaign with different images or copy. Then, compare the results of each performance to determine which ad campaign was most effective to your particular audience. Doing this not only provides you great audience insight, but keeps your ads fresh, engagement up, and cost low.
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