Stiddle’s Guide to Reducing the cost of Facebook Advertising
There are two main factors that make up the cost of Facebook advertising: the value Facebook users get from your ads and your estimated conversion rate.
So, how do we reduce Facebook advertising costs on this basis?
Every year from around Halloween to Black Friday, and then around Christmas, there exists not only a peak period of consumer shopping but also a period of soaring advertising costs.
Overall, during this period, CPM (cost per thousand impressions) will increase by about 12%, but for advertisers, it is not uncommon for advertisers to double CPM, which means you need to spend between November and December More advertising expenses are considered to have lived up to the annual year-end peak season.
Fortunately, there are many ways to get cheaper CPM and CPC through Facebook ads.
In addition to ensuring that your creatives can run normally and can effectively convey information to the right audience, you can also take the following measures to slow or suppress the growth of advertising costs:
1. Increase remarking advertising efforts
Potential customers who have dealt with you are an audience that is more “friendly” to the advertising budget because they are more willing to accept contact from the brand, and therefore are more likely to buy or at least interact with the ad (increasing ad engagement is not This has a certain impact on reducing Facebook advertising costs).
Almost all online users will receive a large number of mass marketing messages before and after the year-end peak season, which can easily arouse people’s disgust. Therefore, you need to show them something personalized to show that you know they are interested in you and that you value them very much.
Between the end of the third quarter and October, you can target a large number of audiences at the top of the conversion funnel to attract them to your blog with the goal of attracting traffic. This will not only increase your brand awareness before the peak season but also further filter out the audience you need to place remarketing ads.
2. Automated advertising management procedures
During the holidays, it is more important to manage to advertise to rely on experience to control the overall advertising strategy. For some basic daily operations, it is recommended to automate as much as possible to save time. Therefore, at this time you may need to set up automation rules through some advertising management tools.
In addition, you can also use Facebook’s built-in automated rules to help you automatically pause ads, adjust advertising budgets/bids, etc. based on advertising effects.
3. Use your Facebook Pixel data
Although you may already have a considerable number of visitors to your website, or users who try to buy your products, subscribe to your email, and interact with the website a lot, during the holiday period, it is recommended that you specifically say “I already know who “Users” create a separate custom audience for serving remarking ads to them:
Of course, the closer you set the custom conditions to the final conversion, the better, because these users may be the users who are most interested in your product. For example, you can try to advertise to users who have added your product to the shopping cart or at least viewed the product page.
In short, if you want to improve the effectiveness of Facebook advertising, the rational use of Facebook pixel data is essential.
4. Use content to attract potential customers
We have been emphasizing the quality of the content. You need to continue to create engaging content for your Facebook page, and use the performance of the content on Facebook as a condition of participation in remarking.
What is the most effective content on Facebook? It can be said that the current short videos made specifically for social platforms are very popular, especially some low-budget but grounded short videos created by users.
You can also try to use automatic text-to-video production tools, which don’t even require a human operation. After the release, these users who watch the video for more than 10 seconds are also the objects you can advertise.
You can also set up the Auto Post Boosting function; once a post gets good organic traffic, it can be promoted automatically.
5. Optimize spending through placement
For the audience you have not placed remarking ads, it is recommended to use the following tips to optimize audience targeting, eliminate “edge users” from your core audience, and reduce advertising costs.
• Interests: the social platforms they use most often, the celebrities they follow, and your competitors they follow
• Demographics: Make a reasonable guess based on current user data, and try to imagine the life of the user. Many users may be interested in your product, but in fact, considering their work, family, and learning situation, which part of them will actually pay for your product?
• Behavior: equipment, purchase history (available only in a few countries/regions), number of trips (can be a good indicator of the user’s income)
More ideas on reducing Facebook advertising costs
If you want to get as many conversions as you did before the holidays, you may still need to increase your daily budget (and bids, if you manage it manually), but you can implement some strategies to reduce costs:
• Create remarking audiences before the holidays
• Use pixel data to create micro audiences based on key events
• Create and reserve new creatives before the holiday season to avoid advertising fatigue
• Use the automatic post promotion feature to automatically promote your better-performing posts to further refine your audience
• Use advertising automation tools reasonably to seize promotion opportunities and avoid poor results
Social media advertising is one of the most affordable and accessible ways for small businesses to expose their brand and attract new customers. By learning more about the costs associated with social media marketing and how to achieve your goals, you’re one step closer to creating the business you envision.
Stiddle – aims to bring you inspiration from leading respected marketing experts.
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