If you are familiar with advertising on Facebook, you would know that the best way to receive a great return from ads is to keep the CPM as low as possible. For those who do not know, CPM refers to cost per thousand impressions. It is a measure of how much you have to spend to get your ad displayed. In case you are on a tight budget, you can also Buy Real Facebook Likes to increase your reach at a cheaper price.
The first step of reducing the Facebook ad costs is to ensure that you have chosen the right audience to display the ad to. This is important because when you run the ads that appeal to the targeted audience, your relevance score increases. Just like Google AdWords Quality Score, the relevance score, measured on a scale of 1 to 10, shows how relevant the ad is to the chosen audience is; higher score means lower costs and vice versa. Facebook features some excellent targeting options, where you can choose audience based on their demographics and interests. Under these two categories, there is a whole range of sub-categories that enables you to select a very specific and tight audience. To have a decent relevance score, break the market intro segments and run campaigns targeting the segments.
Also Read: Facebook Ad Targeting Strategies
Frequency of an ad is the measure of how many times the same users saw the ad, and this number should be as kept as low as possible. When the same people are viewing the ad over and over and not taking any action, it is indication that they did not find your ad appealing. Higher frequency means lower relevance score, which will in turn, increase the advertising costs. Ideally, you should ensure the frequency is less than or equal to 3. If it starts going above that, it means you need to make some changes to the ad or perhaps, take it off completely.
The key to lowering Facebook ad costs is to get more engagement; more people engage with your ad, the less the overall cost and vice versa. One of the ways to get your audience to engage with the ad is to include an image that stands out and instantly grabs their attention. Look for a high-quality image that is relevant to your product or service. The purpose is to make the audience pause and see your ad while they scroll through the newsfeed. Hence, look for something out of the box, that is different from the typically used standard set of graphics. Use a high-resolution image so that it does not appear blurred. Facebook recommends an image measuring 1200 x 628 pixels.
Call to Action Buttons
The platform offers the best options when it comes to choosing the call to action (CTA) buttons for your ad campaign. If you are not using a CTA, then you are missing out on a great opportunity to encourage to engage and take an action. Some common CTA buttons include:
- Shop Now
- Book Now
- Sign Up
- Learn More
These and other CTAs can be used for different purposes. For instance, an advert for rent a car service should feature Book Now option, but an ad for a volunteering service can opt for Sign Up. If you are not sure which one to select, go for Learn More, as it is the least committal of choices and generates a higher CTR (click through rate). CPM is inversely proportional to CTR, which means a higher CTR results in lower costs.
When talking about social proof, people usually think that it only belongs to the website landing page. However, a social proof can be useful for your Facebook ads as well because it can positively influence ad engagement. Include the social proof in the “text” area of the copy where you have additional space to add more detail. Write something that you think will resonate with your target audience. Some common types of social proofs include:
- Quotations or testimonials from satisfied customers
- An endorsement or recommendation from a famous public figure
- A list of brands or companies that use your products/services
Did you know that ads displayed in the Facebook newsfeed tend to receive higher engagement? This means that if you want to maximize engagement, keep the ad copy confined to newsfeed, especially if you are not very experienced with Facebook advertising. The reason most people use Facebook is to scroll through the newsfeed and it is the spot where most of their attention is devoted. Hence, to make sure a larger number of users see your ad, place it in the newsfeed. Often advertisers position the ad in the right-hand sidebar, but that area usually does not receive that much attention and so, the engagement rate is less. Conversely, ads displayed in the newsfeed get a greater number of reactions, comments and shares, which can decrease the ad CPM.