7 Ways to Lower Your Facebook Ad Costs?

1.?Gain a higher relevance score with your ads

A relevance score is based on feedback, both positive and negative, Facebook expects from the target audience.?

The more positive interactions expected, the higher the score on a scale from 1-10. When scores are low, 1-3, Facebook tends to charge you more for your impressions.

The score is continually updated as the audience provides feedback and interacts with your ad.?

Therefore, it’s vital that you check your ad relevance score to make sure it’s not only relevant for your audience but doesn’t end up costing you more to display on Facebook.?

Good relevance scores increase efficiency when it comes to Facebook ads.?

2. Eliminate overlapping audiences?

By using the?Facebook audience overlap tool, you can see if your ads are targeting similar audiences.?

When overlap happens, it can increase your ad cost as your ads compete against each other and thus, lead to less engagement and conversions.?

Based on your advertisement goals and customer data, refine your targeting and choose the audience within the overlap that is closely aligned to your customers and will bring in the most sales.?

3. Increase click-through-rate with optimized content

A higher click-through rate (CTR) means better engagement and conversions for your funnel, and as such, will increase your relevance score.?

Plus, it will lower your CPC.?

A quick way to increase your CTR and lower your CPC is to revisit your ad copy and call to action.

See if you can optimize your headline or lead sentence. Look for ways to entice your audience and how they can learn more by clicking on your funnel.?

Also, look at your current media and consider doing an A/B test to see if you can improve your performance.?

4. Optimize Facebook Pixel

The?Facebook Pixel?is a tool that helps with two specific things. First, it tracks the conversions which not only lets you know how effective your ads are but also let #Facebook optimize your ads for maximum results.

Second, the Facebook #pixel allows you to build audiences based on visitors to your sales funnel. This becomes vital to your retargeting efforts. Also, by collecting these visitors into audiences, Facebook can look at those audiences and suggest new people that are similar who would also likely engage with your offer. These audiences are called “Lookalike” audiences and are simple to setup and can be very powerful in your advertising efforts.

Proper setup of the Facebook Pixel is vital to any long-term effective Facebook advertising and will likely have the biggest impact of all the things we’ve discussed in this article.

5. Learn from past results

If you’ve been using Facebook ads for a while, take a minute to look over your previous ads.?

Filter your posts by engagement rates and conversion rates to see what previous posts had the best results.

From those posts, see what messages and visuals you used that worked and use those same tactics in future posts.?

By using previous tactics to increase your engagement rates, your posts become more relevant on Facebook, helping increase your reach and not your spend amount.?

6. Retargeting

In addition to your prospecting ads, consider running #retargeting ads. This is when you run ads to those who have visited your funnel but didn’t convert into a lead or a sale. Facebook will let you make an audience out of these people and put ads back in front of them with additional information, social proof, and even emotion to help close the sale.

Also, make sure to run specific campaigns that retarget (sometimes called cross-target) your existing leads and subscribers offering them other goods and services you provide. Since they are likely happy past customers they tend to have less resistance to buying more from you.

7. Use the video ad option more often

Did you know that video ad on Facebook cost less than image ads??

CPC can be lower with good video ads because they often earn cheaper impressions than other types of Facebook ads, which keeps costs low.?

Look for ways to incorporate creative and strong call-to-action videos into your marketing strategy.?

With these #tips in mind, you’re well on your way to optimizing your Facebook ads without having to break the bank.?

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