“What should I do if Facebook ads are getting more and more expensive?”
As the social media platform with the largest traffic, Facebook is now the preferred channel for many sellers to the market. But if Facebook ads are not properly optimized, the consumption of advertising budget will be more than the money made. Learn the following techniques to reduce Facebook advertising costs and increase your income.
1. Leverage the reach of Facebook videos
To cut Facebook advertising costs, the first step is to use video in advertising. Facebook will prioritize the ranking of video content, so videos will have more coverage than other forms of content advertising because they may rank higher. With more exposure, even if advertising costs remain the same, it may be able to increase the return on investment.
2. Improve the relevance score of ads
Facebook will measure the overall relevance of advertisements based on the quality and engagement of the advertisements, thereby deriving the "Relevance Score" of the advertisements. This score is very important for cost because it determines how often Facebook will display your ads and CPC costs.
The relevance score ranges from 1 to 10, with 1 being the worst and 10 being the best. If you want to increase advertising coverage and reduce CPC costs, you must control the relevance to 8-10 points.
If your ad relevance score is lower than expected, there are 3 ways to improve your score:
- Make sure that the advertising content is not misleading. Using "deceptive" text or images (also known as click inducements) to obtain clicks in a misleading manner can greatly hurt relevance scores.
- Ensure accurate audience targeting. In other words, narrowing the targeting scope to a specific audience can ensure that more people within the targeting scope find more relevant content.
- Ensure that the advertisement does not expire. If you use the same advertisement for a long time and target the same market, the advertisement will become outdated. Over time, your relevance score will decrease because consumers will feel bored.
3. Set up the Facebook pixel
The Facebook pixel not only allows you to access more data, but this data can further help segment audiences and increase click-through rates and relevance scores. In addition, the Facebook pixel allows sellers to see what Facebook ads bring in sales so that sellers can optimize their ads for a higher return on investment.
With Facebook pixels, you can:
- Run effective redirect advertising;
- Use data to optimize advertising;
- Track sales.
4. Limit your Facebook ad bids
If your Facebook advertising relevance score is appropriate, the advertising coverage exceeds expectations, but the cost increases, then limiting Facebook advertising bids will help sellers reduce costs. Moreover, when your ads get more valuable audience clicks, Facebook will continue to send ads to the audience who clicked on the ads.
By using bid limits and creating rules, you can ensure that your advertising effects are within your budget. Therefore, sellers should make sure to switch from "automatic" bids to "manual" bids.
Tips: If you choose to bid manually, you should set it to "Average".
5. Adjust the Facebook audience overlap advertising
If your Facebook advertising costs are too high, how much overlap should you consider? Audience overlap not only means that the goals you are targeting are very similar, but according to Facebook, audience overlap may lead to poor advertising, because your ads are essentially competing with others.
6. Improve the click-through rate of Facebook ads
To reduce Facebook advertising costs, it is necessary to increase the CTR (click rate) of the ads. Because the higher the click-through rate, the higher the relevance score.
So how can sellers increase the click-through rate? Here are two tips:
(1) Get a higher click-through rate by adjusting the ad placement
Facebook now provides a variety of feeds and platform advertising positions. However, sellers must remember not to choose "automatic" ad placement, but to test placement manually to find the ad placement that can get the highest click-through rate. ADCostly provides cost data for different Facebook ad page locations.
In addition, the choice of advertising placement should match your overall goals and advertising content. For example, if you are using high-quality images, the multi-image display on Instagram will ensure that you can get a higher click-through rate and relevance score. Or, if you provide more detailed promotion information, you can use Facebook messenger ads, which may be able to reap the return on investment.
If sellers want to maximize the value of performance and cost, they need to set up a special placement for each advertisement.
(2) Get a higher click-through rate by preventing advertising fatigue
Advertising fatigue refers to the situation that when the audience sees too much of your advertisement, they will find that the content of the advertisement is stale, which in turn affects the coverage of the advertisement (when the audience starts to hide the advertisement) or the click-through rate (the consumer may no longer click on the advertisement).
Sellers can prevent this from happening by setting automatic rules to keep the frequency of occurrence low. Sellers can set it through the Facebook Ads Manager, and then select "Create Rule", and then you can change the display frequency.
7. Find the best time to display ads
Not all audiences are active for the same time. In order to reduce payment for invalid advertisements, sellers need to test when the advertisements are published. After simple statistics on the advertising data, you will know when the audience pays the most attention to your posts, so you can set the ads to run only during these peak hours.
8. Target audiences more accurately
The more accurate your audience is, the more ad visits may be. They will not only click on the ad but also share it with other audiences who are interested in the content.
If the audience is too broad, the click-through rate and conversion rate will not be directly proportional to reach. In addition, the audience is defined as imprecise, and your advertising competition and bids will be higher than targeting precise audiences. Precise positioning can ensure that your ads get a higher quality score.
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