How to Lower the Cost of Your Facebook Ads

Advertising on Facebook has become a more sought after advertising platform as it’s currently one of the largest and most popular social media platforms today. In fact, users all around the world are able to a share lot of different content from video to text and the beauty of it is that businesses are able to as well. Now, on top of the free exposure that you are able to take advantage of on the platform, you are able to use their paid advertising options, too, in order to reach an even greater number of users. However, you probably know by now that when it comes to predicting to cost of Facebook advertising, it’s impossible to get a concrete answer. Although it depends on a lot of factors, it’s not impossible to come up with a close estimate. We aren’t going to lie, there’s a lot that you need to know in order to understand the Facebook Ads cost, such as your audience, bidding plan, and Facebook ranking. However, there has been lots of research done that has helped provide companies like yourself with Facebook Ad cost averages. They may not be exactly like your campaign, but it will, regardless, be a great reference point.

Do keep in mind, though, that the amount that you end up spending on Facebook ads is solely up to you, depending on how you set your budget. In fact, there are two different budgets that you can choose from. You can set a daily budget, which is the amount that you set that states the amount you’re willing to spend on an ad each day. Your lifetime budget, on the other hand, lets you set a specific amount that you’re willing to spend over the lifetime of an ad. Down below, you’ll learn about the factors that affect the cost of Facebook Ads, thus giving you an idea of how to lower your own rates, regardless of the budget chosen.

How Much to Advertise on Facebook

Prior to being able to launch your advertisement, Facebook holds an auction which is actually another reason as to why there isn’t a concrete answer as to how much your Facebook Ads will cost you. Other factors include the time of year, your bidding strategy, the placement that you select, how relevant it is, as well as the audience that you’re interested in targeting. As the advertiser, you offer how much you will pay for certain actions such as views, clicks, and conversions. You can either manually or automatically adjust those prices in a specific section. As a result, you’re entering a bid. However, things are constantly changing there such as various bidding options as well as new ad formats and placements.

Now, keep in mind that you won’t know the real cost until you’ve taken the time to run several campaigns. That being said, these references will give you an idea as to why your campaign would be more expensive or cheaper in comparison to the American average CPC in the fourth quarter of 2017, which was $1.10.

The older your target audience, the higher the CPC. However, although they do cost more to target, they most likely have a higher income and less debt, which means that they have more disposable income that they can spend on your items or services. When it comes to targeting genders, women have been proven to always be more expensive than men. The cheapest objective to choose, though, are link clicks whereas impressions are the most expensive ones. In addition, there are mistakes that you may be making that could actually be heavily impacting the costliness of your campaign. Some things that you may be doing include targeting too broadly, not implementing any custom audiences, not having a base retargeting strategy, and you aren’t testing out your campaign. Therefore, make sure that the age range that you choose is as close to your demographic as you can make it, selecting targeted interests that are as relevant to your sought-after audience as possible, target within your market, and select the language that your core demographic speaks.

It’s no secret that advertising on Facebook is a really nice way to reach out to new customers and expand your brand awareness. You’ve also learned that you can adjust it to fit your budget. That being said, there are still many nuances and a fairly large learning curve that often consumes plenty of time and money. However, fortunately, there are social media campaign management agencies available that are able to do all of the hard work for you while giving you the best possible ROI for your company. In fact, that return will most likely be way greater than if you were to do it on your own. Keep reading to learn about how an agency such as ours can assist you with your Facebook ads.

TEA

TEA is a threat and engagement analytics solution that assists users in measuring website traffic and visitor engagement. By combining social media campaign management and threat detection, we are able to provide users with a way to make effective campaigns while protecting them from any threats that may be harmful to the campaign. We offer engagement tools such as engagement trends analysis and remarketing segmentation. Visitor engagement is measured via first and last touch, linear exposure, ad position, as well as time decay. As a result of our engagement trend analysis technology, users can identify visitor behavior trends and figure out their actual conversion rate. The remarketing segmentation tools let users target actual potential customers with relevant ads. Our campaign management tools let users monitor their marketing campaigns, giving them insight into actual visitor activity.

In addition, our dashboard gives users a 360-degree overview of all their marketing campaigns, along with their activity and performance. There they can monitor how their keywords, tags, and referrers are doing. On top of that, both our automated click fraud protection and engagement fraud protection makes sure that all of the collected engagement data is related to actual visitors instead of bots.

If you are interested in learning more, we have a free webinar on our site!