At this point in the year, your marketing budget might be running a little low. Maybe spending a ton of your budget on those branded fidget spinners wasn’t the best idea (who would’ve guessed that something created for people with short attention spans would’ve died so quickly…?).
Anyway, if you’re running a little lean these days, we’re going to help you save a few bucks with today’s Read. It’s all about lowering the costs of your Facebook ads.
- Target a more specific audience. When done right, targeting a smaller audience can lower your CPC, increase your quality score, and increase your CTR. Sure, you’re going to get fewer clicks, but the clicks you do get will be more valuable. Might be time to break out that Lookalike campaign you’ve been planning.
- Use bid caps. This one is simple, but a lot of marketers don’t use it. You can simply limit the amount you’re willing to pay for a click.
- Look for audience overlap. Use Facebook’s Audience Overlap tool to figure out if any of your ads are competing against each other. No sense in bidding against yourself if you don’t have to.
- Test, test, test. Keep trying different creatives and different ad copies to see what resonates with your audience best. We like to use eye-catching images. You need something that will make your audience stop scrolling. But, even when you find an ad that really works well, you’ll likely need to switch it up after a few weeks. Ad fatigue is a real thing.
- Get very specific with retargeting. You shouldn’t just retarget all website visitors. It’s very likely that a lot of those visitors will just never buy from you. Narrow it down to just people who have visited specific pages.
Still a few more we haven’t covered…