About 80% of the Brazilian population is on Facebook, which makes it a perfect platform for you to exercise digital marketing and you are already tired of knowing that. But how to reduce the costs of campaigns on Facebook Ads?
It is complicated to estimate how much each business needs to invest in Facebook Ads to succeed, as it depends on many variables. There are businesses that are successful with a lot of money invested, while others that do not spend even R$ 200 per month on the platform and achieve extraordinary results.
This varies depending on the audience, the nature of the product, the campaign and the strategy involved. If you want to draw up a strategic plan for your brand, for example, contact us so that we can study your audience together.
However, if there is a truth it is that there is always a way to optimize and reduce the costs of your campaigns to obtain more assertive results, always seeking to have a positive return on investment.
1. It’s starting? don’t invest too much
The most common mistake for any newcomer to the Facebook Ads platform is to think that putting more money necessarily means getting more return. Misconception. The ideal is for you to know how to target your campaigns and find the right model that can have a low cost and high return so you can put more money.
For this reason, it is always recommended to only put a small amount of money into the campaign for a short period of time for you to analyze its metrics. Based on this, you can test a different text, a different image or even change the approach completely, even changing the target audience that was targeted.
Since Facebook Ads lets you see your cost per user, it’s possible to see which campaigns get the best results. Our tip is to create a spreadsheet in which you create a matrix with the same ad with changes in audience, image, text and track the result of them.
Only when you find a campaign that seems to have an effect, then you can increase the investment in it and create other campaigns with similar templates. Therefore, it is necessary to enable, that is, to test hypotheses.
The great thing about the internet is that you can test n hypotheses at a low cost. So, experiment freely and don’t be afraid to make mistakes. You have to get it wrong a lot and get it wrong fast, so you can learn not to make the same mistakes again.
2. Don’t restrict the target audience too much
As we explained in the item above, you will have to do a lot of testing and experimenting at first, so it’s not a good idea to target your campaign too much. Your target audience might get too small and then your metrics will be too skewed and unreliable.
Don’t use so many restrictions. Do the basics and follow the evolution of the data. Only when you are performing on positive feedback will you try to further optimize and perform segmentation tests. If your model reasoning is not yet validated, leave it for another time.
3. make daily investments
That’s right. Not opting for a Lifetime Budget can be very smart. Facebook even suggests that you choose it at the beginning, as the value of the entire campaign will be divided between the ads by Facebook itself, which determines the best days and times to show to the public.
But even Facebook’s all-powerful algorithm will need some time to get these ads right, which will take many days before it automatically organizes and optimizes your campaign for better performance. Think that it is a robot that will spend its budget with several variations also looking to validate hypotheses.
Because of this, a guideline we give to those who need quick results and have a tight budget is to take responsibility and take care of the campaign into their own hands . In other words, choose the Daily Budget option in which you define the maximum spending ceiling per day in each campaign.
This allows you to force the platform to display ads to bring up the proposed results. And if it doesn’t give the expected result, you can keep tinkering with the daily investment until you find the perfect balance. You are in control.
4. Use Facebook Power Editor
Although Facebook allows you to drive posts directly on a fanpage, the Power Editor ad management tool is much easier to create, edit and duplicate campaigns. In other words, to carry out actions together it is very efficient and productive.
5. Use Facebook Ads pixel on your website
The Facebook pixel is a code that you install on your website to get information to count the number of conversions from campaigns, create a retargeting list, or create an audience list similar to your traffic on your website.
If the final product or service is on a website, it is highly recommended to install Facebook Pixel for tracking. Another way to do this is to use Google’s URL Builder, a feature for Google Analytics that will make it possible to track the origin of traffic in a personalized way, facilitating your data analysis.
6. Create a blog so you can create a retargeting list
If you want to find that customer interested in your product who learned about your brand, product or service via Facebook, the tip is to use Retargeting. The Facebook pixel makes this possible, but how are you going to get the user to enter your site? Campaigns that only direct to Landing Page are very costly.
A good idea is to create a blog to feed content relevant to the ecosystem of your product and service to attract interested customers. Once they browse your site, you will have this tracking to display retargeting campaigns that will only be displayed to those users. Much more assertive.
Incidentally, within the Power Editor you can enter the Audience Information area and find out more about your audience, generating insights into the content you can produce to attract potential customers to the website.
7. New campaign with no history? Test oCPM
Facebook ads have multiple delivery formats. The most common are CPA, CPC and CPM. Of these, CPM (cost per thousand impressions) is one of the most famous: Facebook will consume your budget for every thousand impressions in the target audience timeline.
Another very famous one is CPC (cost per click). It consumes the budget only if the user clicks on the ad, making it very interesting for those looking to appear in the Facebook sidebar, where there is more recurrent display.
However, if you are creating a new campaign and still have no idea how it will perform, we recommend testing the oCPM format. It is nothing but optimized CPM. In this case, Facebook forces the algorithm to try to find a more precise and specific target audience, especially in campaigns where you search for more restricted people.
He is also especially interesting for those who do retargeting campaigns, that is, looking to appear to users who have already passed through his property and whose interest should be much greater.
8. Campaign that never works?
If you have a campaign that doesn’t perform well at all, maybe it’s time to try something more drastic as a last chance. The tip is to choose the CPA (cost per acquisition) in its Turbo version (in which it applies 20% more budget). By doing this your ad will be displayed much more.
This measure is much riskier, so don’t use too much budget, but it’s valid when you want to make sure that the campaign’s failure is not about the Facebook platform, but about quality or given direction.
Whew! Quite a lot, isn’t it? These are easy actions, but laborious and that require time. If you are in a hurry to create a website and manage Facebook Ads campaigns, but need to focus on the main activity of your business, count on Nerdweb .
We are passionate about digital marketing and we can set up a strategic plan with your team so you can start to have concrete results via Facebook!