Facebook is an excellent platform for advertisers cause of many reasons, including affordable costs and targeting options. Facebook ad costs vary based on many factors, such as goals, audience, industry, and optimization settings.
What can you do to lower your Facebook ad costs? What should you change to make it the most effective? We will talk about the best targeting options, Facebook pixel, and creativity to bring you better results.
When specifying audiences, advertisers have to be as precise as possible. One way to do that is to narrow the target audience. They are taking part in a bidding war with thousands of other brands; you have to reduce the competition by running similar ads to a similar audience.
You can tailor ads to show up to people in a specific geographical area and set of interests. This way, you will get the best chance of generating traction and gaining clicks.
Your ad cost will be cheaper when targeting a segment with not many advertisers competing for the same ad space.
Another thing is to check if audiences are overlapping – if you do not exclude those audiences, you will be bidding against yourself. You don’t want to serve your ads to the same people over and over.
One of the greatest tips is to set up your Facebook Pixel. You have probably already heard of it – these few lines of code that you insert into your website will track access data about clients and conversions.
Facebook pixel is collecting a lot of valuable data like what your potential clients or buyers are interested in, how much they are earning, whether they have a family or pets, and are on holiday now.
You can retarget people on your website and people who started but never completed their purchase. Setting up a Facebook Pixel, you will know which ads bring more sales and perform best, so you can start putting money on those that get results.
With Facebook ad sets, you can run multiple ads with the same budget. Use different combinations of images and text; take the best elements from the great performing ads and remove elements from the worst-performing ones.
Sometimes only changing the image can have a massive effect on the cost of the ad. Slight improvements in CTR and conversion rate will make a big difference to ROI in the long term.
You can save your fun audiences and build campaigns for them. Don’t forget to exclude existing FB fans from your other audiences. Do the same with your website visitors and converters.
Reduce the cost of advertising on Facebook by using video anywhere you can.
Facebook values video content, especially in ads, but if you don’t have a budget to produce video ads, use some of Facebook’s tools like slide shows.
Mila Z.
