Last year mobile ad spending reached $87.30 billion total in the U.S., which was a 23% increase.
Using platforms like Facebook, digital marketing can reach every type of audience through enhanced targeting options.
If you’re new to Facebook advertising, it can be frustrating to figure out how to lower the cost per click and conversion costs. Learn the three best methods to reduce your Facebook advertising costs and improve return on investment.
1. Update Your Targeting
Reaching the right audience is essential to lowering your ad cost. If your ad is showing to people who aren’t interested, they’ll be less likely to interact. Facebook will end up charging you more to make up for limited interaction.
To start, make the most out of segmentation. Whenever you begin a Facebook campaign, you can set up multiple ad groups. The ad groups for a campaign should all have the same target goal, but you can separate based on persona and interests. Test the ad groups to see which one performs best, and prioritize that ad group in your next campaign.
You can also set up retargeting using a Facebook Pixel. The Pixel is a snippet of code that you can add yourself or ask a developer to place. The Pixel captures user data every time someone visits your site. You can create a retargeting audience based on page visits, actions and more. Facebook retargeting costs are usually less than other ad types.
2. Improve Your SEO and Brand Awareness
Getting your brand more visibility online can improve your ad interaction lower costs. This is because users are more inclined to interact as they move through a traditional marketing funnel.
You can increase brand awareness through organic social media posting as well as organic search engine optimization (SEO). SEO includes efforts to increase your search visibility on Google. You can do so through updating your website, posting authoritative content, building links and more.
View more about the benefits of SEO and how you can get started today.
3. Test and Optimize Ads
Lastly, make sure to continually test and optimize your ads. Your ad cost will vary depending on your product and service as well as the target audience. There’s no one-size-fits-all solution.
Try a couple of different ad types and see what works. You may find that your Facebook video ads cost lower than Messenger ads, or vice versa.
Also, test as many different types of creative as possible, and eliminate the ones that don’t perform as well. Ideally, Facebook advertising should be a continual process of improvements that can help lower costs.
Evaluate Your Conversion Costs
During each Facebook ad campaign, evaluate your conversion costs. To ensure the greatest ROI, find the campaign that brings you the most revenue after the lowest spend.
To get the most bang for your buck with Facebook advertising, you’ll need to target the right audience, test your ads and supplement with brand awareness.
Visit our blog for more tips on digital marketing and advertising. Visit the Social Media and Digital Marketing sections of the Bootstrap Business Blog right now for additional insight on Facebook marketing and PPC ads.
