Facebook marketing has become super popular among social media marketers lately, mainly because so many people use it. With a whopping 3.06 billion users worldwide, it's no wonder!
In fact, 89% of businesses prefer to advertise on Facebook more than anywhere else. Yup, Facebook's still going strong in 2024. Using Facebook ads alongside your regular posts is a smart strategy to grow your business.
As a marketer, you always keep an eye on costs, right? Lowering your Facebook ad costs, known as cost-per-click (CPC), is one way to save money. So, keep reading for tips on how to spend less and get the most out of your ads on Facebook.
Narrow Down Your Audience Targeting
Did you know that who you're trying to reach with your ads can affect how much you spend on your campaign? Things like age, gender, and what people are into can make your costs go up or down.
For example, it can cost more to target women than men, and targeting older folks can be pricier than going after younger ones because there are fewer of them online. Plus, if you're aiming for people with lots of money or specific interests, that can bump up your costs too.
But even though it might cost more upfront, focusing on the right audience can pay off big time in the end with more leads and sales. So, instead of casting a wide net, it's better to zoom in on those who are most likely to be interested in what you're offering. That way, you'll get better results than just letting Facebook guess who might be interested.
Retarget Your Audience
You know how you end up seeing products you googled on your social media platforms? That's audience retargeting in action.
Basically, it means showing ads to people who already know and are maybe interested in your product or business. Since they're already familiar with what you offer, they're more likely to click on your ads.
And when more people click, the cost per click goes down, which is good news for your budget. You can set up an audience known as a Custom Audience and then aim your ads at them.
You can include people who've visited your website, used your app, or engaged with your business on Facebook. And the best part? You can make up to 500 of these Custom Audiences for your ads!
Dynamics Ads
Dynamic ads change based on what you've been looking at online, so each person sees products that match their interests. These ads keep track of what you've clicked on, put in your cart, or bought before, and show you similar items.
They're incredibly convenient for reminding users about products they might have been thinking of buying but didn't go through with.
And why do we love it? You don't have to make a new ad for each product! The ads automatically grab all the info they need from what you've already uploaded.
To set them up, just make an account on Facebook's business manager, upload your products, and let Facebook do the rest. Dynamic ads work really well, which means you could end up spending less on ads overall.
Try Not To Overlap Audiences
To keep your Facebook ad costs down, make sure your target audiences don't overlap too much. You can check this using Facebook's Audience Overlap tool. Overlapping audiences can mess up your ad campaigns because you end up bidding against yourself.
It's like competing with yourself, which isn't good for your results. Instead, focus on one audience that fits your goals or matches your products and services best. That way, you avoid competing with yourself and save money on your marketing.
Utilise Facebook Pixels
To help cut down on your Facebook ad costs, try adding a Facebook pixel to your website.
Basically, it's a tiny piece of code that keeps track of what people do on your site—like when they visit, what they click on, and if they end up buying anything. Having this pixel in place can be really useful in the long run because Facebook can use all that info to help your ads work better.
You'll be able to see which ads are doing well and tweak them if needed. Just make sure to get the pixel set up before you start running ads, so Facebook can learn more about the people who become your customers and make your campaigns even more effective.
Final Words
So, to wrap things up, Facebook is still a big deal for marketing, and for good reason – lots of people use it!
So, give these tricks a shot and see how they can help you get more out of your Facebook ads. With a bit of know-how, you too can grow your business without blowing your budget.
SO, WHERE DO YOU FIND THIS PARTNER?
Well, aren’t we glad you asked! We at DigiCom are obsessive data-driven marketers pulling from multi-disciplinary strategies to unlock scale. We buy media across all platforms and placements and provide creative solutions alongside content creation, and conversion rate optimizations. We pride ourselves on your successes and will stop at nothing to help you grow.