Without any doubt, Facebook Ads are the best methods for generating new leads. Unlike various other digital marketing solutions, Facebook takes the benefits of laser-focused targeting abilities. Many marketers and businesses do not know that you do not need to sacrifice the cost for getting the right results. But, in a way this system is based, you will likely see the lower CPC as you are getting higher results from your Facebook ad budget. Let us see how:
1. Consider retargeting
Retargeting is the practice to show your ads to the users that are quite familiar with you & your product. As it is the “warm” audience, they will interact with and click on the ad, increasing the CTRs as well as lowering the CPC. You may also use retargeting for sending the ad to your users who had watched previously your video ad, which was showed to the cold audience, which improves the likelihood they will click as they are quite familiar with the ad.
2. Find better demographics
Suppose you aren’t new to digital marketing, particularly Facebook advertising, then you have access to a tremendous amount of the data that will significantly lower the ad costs. From the demographics, you will learn the best performing ads & best Facebook Audience that you can market. You may easily find how the initial ads function from different demographics just by checking “Manager Section” and “View Charts” from the Facebook page. It can give you unlimited access to how your earlier Facebook ads were performed, by age, gender, and much more. By identifying best-performing demographics, one can narrow down the ad targeting that will include such demographics.
3. Cap Facebook Ad Bids
Suppose your FB ad relevance is at a point and you getting an ad reach, which exceeds the expectations but costs have increased, and capping Facebook ad bids will help to lower down the costs. It’s in the interest of Facebook to earn money & as the ad reaches valuable audiences that click and will keep sending you the audiences who click. Using bid caps & rules you will ensure that you maintain the performing ads in budgets that you have set. For doing this, ensure you are choosing ‘Manual’ over the ‘Automatic’ bidding.
4. Stay specific with targeting
If you are ads are more specific and targeted, there is a higher chance people will not just click on your ads, but also be interested in the content of your landing page that you’re sending them. So, by keeping targeting quite broad, your conversations and clicks won’t be in the proportion to reach. Also, your competition, thus your bids, are higher than you segment as well as market to the specific audience. For example, suppose your target audience is women of 18 to 55 years old who are fond of fitness’, then your competition is higher than you targeting ‘audience 18 to 23 years who are fond of yoga fitness & stay in Sydney’.
5. Set Facebook pixel
The next incredible way to reduce cost per acquisition will be setting up & updating the Facebook pixel. The Facebook pixels just are some sentences of the codes inserted in your website, which track conversions as well as offer information about the clients. The Facebook pixel tracks the client’s Facebook web page, identifies what they’re interested in, expenditure, what they have bought recently, the average purchase cost, and much more. It means that the digital marketers will get to target the people that can purchase the products immediately.
Since Facebook Ads gets highly popular, overall costs will just increase—even though subtly. Due to this, it is good you know what features affect the cost of the Facebook Ads conversions and you may choose what is worth investing, and what needs to be cut down.