Facebook ads are an excellent choice for brand promotion. If it’s executed properly, it can yield fantastic results for your company. Facebook is appealing for a variety of reasons, notably powerful targeting capabilities and low costs, among others. Of course, the price of your Facebook ad will vary depending on a variety of criteria, including your target demographic, industry, goals, and optimization settings.
Best practices change over time, new features are constantly added, and it’s easier than ever to make a small mistake that could cause your ad campaigns to fall short of their goals and cost you money.
Easy Ways to Lower Your Facebook Ad Costs
Although Facebook does not charge as much for advertising as LinkedIn or YouTube, every dollar counts in marketing. You want to be positive that every dollar you spend on advertising pays off for you.
Smart budgeting does not have to be difficult. In fact, you might not need to put in a lot of effort. Rather, you’ll need a firm grasp on the marketing plan that will be used to promote your company. Follow the points below to save money on your Facebook ads.
Settle on a Right Objective
In marketing, you must always have a goal. When it comes to Facebook advertising, the way your ad is delivered is determined by the (exact) ad objective. Facebook’s goals are divided into Visibility, Engagement, and Conversion, just like the marketing funnel. So, evaluate your ad approach and select an objective that aligns with your objectives.
Test different creative
With Facebook ad sets, you can run numerous advertisements at the same time with the same budget. Even if you think you know your audience intimately, small differences in the image you use, the copy, and the call to action can have a big impact over time. You’ll be able to discover trends in the performance of the ads by combining text and graphics in different ways. Take the best aspects from the ads that are performing well and discard the ones that aren’t.
The greatest method to get the most out of your marketing spend is to use data driven ad development. Even tiny increases in click through rate and conversion rate can have a significant impact on ROI over time.
Select Videos rather than Static Images
Videos appear to cost as little as 10% of the cost of single image and carousel advertising. Since video content has a higher impression rate and a lower cost per click, the Facebook algorithm appears to favour it in commercials. To determine which of your creatives gets the most clicks and impressions, put them to a test. Experiment with gifs, lengthy films, and even short ones under a minute.
However, as far as possible, avoid using stock videos or generic images. Instead, hire a designer to produce something beautiful and memorable that reflects your brand’s image.
Demographic Targeting
You probably believe that you want to weave a wide net in order to reach as many people as possible with your ad. However, this isn’t the ideal method, and it could result in you spending far more money on Facebook ads than you need to. Your plan should include demographic targeting.
You may target people based on their age, gender, hobbies, profession, income, education, and more, ensuring that your advertising are only shown to those who are most likely to become your clients.
Set Up Facebook Pixel
The Facebook Pixel is a short piece of code that you place in your website’s header. This code then collects information on the user’s activities, such as where your traffic is coming from, what devices they’re using, how many page visits they’re getting, how much money they’re spending, and so on.
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Facebook Retargeting
You can only show your ad to those who have previously viewed your website if you use retargeting. When you use Facebook Ads to retarget that demographic, you establish a link with their FB page in order to present your ad to them specifically.
When people buy online, they are frequently distracted, which can lead to them abandoning a shopping cart or marking an item as a favourite and then forgetting to return to it. You can use retargeting to remind a viewer of their previous activity, prompting them to return and take action. However, you must first install Facebook Pixel.
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Ad Placement
The placement of your ad is also significant. You are not forced to post a conventional ad in the newsfeed. In reality, you can put the ad in the right hand column, chat, your Audience Network, the mobile newsfeed, and other places.
Since ad size may not be constant across the board, it’s critical to think about ad placement. Some ad layouts will remove a major portion of your ad’s text or image. In the first three sentences of your ad, it’s a good idea to employ your most appealing language.
Tracking
Tracking your ad results is important for evaluating which advertisements are the most effective (so you can replicate them in the future), which are lagging and should be removed, and which are wobbling and might definitely benefit from some tweaks.
You may acquire insights into your ad’s performance by tracking its outcomes, such as which days and times your ad gets the most traction, and you’ll be able to assess whether or not your ad reached its objectives.
The Bottom Line
If you don’t know how to build an outstanding ad and deliver it to the proper demographic, Facebook Ads can be prohibitively expensive. However, by doing some research ahead of time, you may save money on Facebook Ads in a variety of ways. But keep in mind that developing a high quality ad with a high return on investment isn’t a quick procedure. There are tools and tactics you may employ to reduce the cost of advertising Facebook ads. If you don’t have time or are frightened by the procedure, consider hiring our social media marketer or a digital marketing firm to handle the heavy lifting.
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