Tips to reduce effective Facebook advertising costs

When starting out, a lot of marketers start a Facebook campaign thinking it’s a very cheap advertising medium. However, with the increasing competition on this social network, the cost of reaching the target audience is increasing. To solve the problem of how to reduce Facebook advertising costs, you can try some of the solutions below.

Tips to reduce effective Facebook advertising costs

1. Determine the cost of Facebook advertising

There are 2 ways to calculate Facebook advertising costs: Through impressions (CPM) or clicks (CPC). Most advertisers like to charge by CPC, which means you’ll only be charged when someone clicks on your ad.

However, in case you want to charge by impressions (CPM), you have to pay when anyone “sees” your ad, while you can’t be sure if they clicked on view. And for every 1000 impressions, Facebook will charge the ad.

So when determining your advertising costs, you must consider whether to choose CPC or CPM. In CPC, you only pay for clicks, while CPC can cost more. It’s just a simple theory, which may or may not work for you, but if you’re really serious about reducing your Facebook ad costs, here’s the tip you should follow.

2. Score Facebook ads

Each campaign that optimizes your facebook advertising costs will be scored accordingly. Facebook measures this based on expected positive and negative feedback from the audience. Facebook also recently updated its ad-related prediction matching scoring feature. With this new update, it’s easier for advertisers to estimate the performance of their ads on Facebook.

Once you have an overview, you can control your CPC or CPM bidding costs, and it will also help you achieve better reach for your Facebook ad cost reduction campaign.

3. Facebook ad placement

With over 1.62 billion daily active users, ranging from small and medium businesses to large companies. In such a case, precise targeting is very important. Therefore, you cannot ignore ad placement, because better ad placement will be able to reach more audience. That way, you can improve click-through rates and get better revenue with a low cost to CPM/CPC.

4. Improve Click-Through Rate

Simply put, click-through rate is the number of people who click on your ad, or you can also say it’s the average percentage of people who view and interact with your Facebook ad. The higher the click-through rate value, the better your ad’s reach. And at the same time, a high click-through rate also causes you to spend more of your budget on advertising.

However, in reality, what you need is more focus than targeting. Even with fewer clicks, if you target better, you can still get effective Facebook ad cost reductions from your campaign.

5. Avoid overlapping objects

Facebook has options to customize the target audience for your ads. So you can target precisely to achieve a higher lead-to-customer conversion rate. That way, you can also improve your ad score. When targeting, make sure you avoid audience overlap. Targeting the same audience means your ads are competing against each other, and it puts an extra burden on your ad budget when you optimize your Facebook ad budget.

6. Retarget potential audiences with ads

Obviously, through advertising, you were able to accumulate some leads. With such leads, you can create additional custom audiences of your own that may have previously engaged with your fanpage (in your ad campaign) through a retargeting plan.

Send them your next ad, thereby increasing brand awareness, building a relationship between the two of you, and growing your Facebook page followers.

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Besides the tips to reduce advertising costs, we cannot help but mention the Tips for running Facebook ads Effective 2020 is applied by many people today, you can also use these tips to apply in your work.