Long gone are the days when newspaper ads were considered as the best way to reach out to people and increase sales of a particular brand or business. This is 21st century and a digital era where, to reach out to the people, you ought to clutch the hands of digital mediums, especially Facebook. Facebook started as a platform to connect people worldwide but now, it’s helping businesses connect to their target audience via ads. However, just running an ad won’t help; you need to make sure that the result is worth it. To help you out, here are some proven hacks to optimize Facebook ads cost that’ll make every penny you spend count.
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1.The More The Data, The Merrier
The most common mistake that we often do is over-segmentation. When you over-segment the data, it hampers your ability to optimize the money you’ve spent on an ad. So, try removing the segmentation around devices, platforms, etc, and you’ll see an instant improvement in the performance of your ad.
It has also come to our notice that when the audience is small or the geography that has been targeted is narrow, you may end up getting little reward than you have spent for a Facebook ad.
Additional tip: Try combining multiple converting audiences, as it may help you aggregate enough data to perform better than they would have actually done individually
2. Try and Test Different Objectives
Another great way to optimize Facebook ads cost is by trying out different objectives. So next time you’re running an ad, try using a mix of campaign objectives, depending upon your goal. This trick works wonders!
3. Try different Bidding Strategies
Bidding strategy plays a very big role in making or breaking your ad. Hence, you need to ensure that the strategy that you’re adhering to is bang-on! Most people use cost caps when it comes to bidding, but, we have observed that it restricts the volume of the result. Instead, it’s best to stick to a ‘Low-cost bidding strategy’ that allows you to choose the kind of result you want Facebook to optimize towards. This strategy also pushes Facebook forward to get as many of those (clicks, conversions, leads, etc) as they can, within the given budget.
Another major reason why we prefer ‘Low-Cost Bidding Strategy’ is because Facebook’s bidding algorithm seems to get a better foothold initiate with a small budget and then scales up steadily.
4. Attractive and understandable creatives
If your ad is not working much, there could be an issue with the creative. If content is the King, creative is the Queen! So pertaining to your audience (focusing on their age group) ask your designers to curate attractive creatives.
5. Optimization of Mobile Experience
In today’s era, people use mobile more than laptops or desktops. From shopping online to online registration, they do it all using their mobile phones. So, you can imagine how much traffic comes from mobile. Therefore, you need to check if the ad you’re about to run is mobile-friendly or not.
In case your website has got a low page speed or is difficult to navigate on mobile (in short not mobile responsive), then it’s going to reduce your conversion rate and your money spent on an ad will go wasted! So yes, a responsive and dynamic website is a MUST HAVE. So these were some of the best and proven hacks to optimize Facebook ads costs.
To know more about running a social media ad campaign, keep an eye on our blog section!