Facebook is a popular social media platform. With the increase in its users, advertising costs will increase. These ads run on the objective basis provided by Facebook so you need to pay depending on the objective you want to complete. For example, if you want page likes or website clicks you need to pay less. But, website conversions have the highest cost and they can make holes in your pocket if you are unaware of the methods to bring down your advertising cost. Before you get to know how to reduce Facebook advertising costs, You want to make sure that you pay as little as possible without harming your ads. Do you need reasons to use Facebook ads then here are 5 reasons? Before you go into the core know How Do Facebook Ads Work? Here is how you can bring down your advertising cost on Facebook:
Reduce Facebook advertising costs in three ways?
- Relevance Score
In order to bring down your ad costs, all you need to know is the relevance score. Once you are through with this concept you would be able to have a lot of high converting ads at a cheap rate. It is a metric calculated by Facebook. It is based on different sort of engagements your advertisement gets by the people who view it. It is directly proportionate to your results meaning that if your relevance score is high, you will get better results.
Your relevance score depends on another two factors:
This is the set of audience that you target. It is important to know your audience and targeting them accordingly to increase sales. Don’t end up choosing an audience who click links but never purchase.
This is how your ad looks. Make your ad more appealing by adding more images. Choose images which give a positive vibe and are relevant to your ad. Make people click on the ad instantly by adding quality images and texts. 3 Ways to Use Facebook Insights to create more Engaging Emails
Also, know about Benefits of using Facebook Ads for your company.
- Test your results
Testing your results is the most obvious method of lowering down your advertisement costs. This method has been followed for ages now. It helps you collect comparative data so that you know your weak areas. One of the most effective ways to test your results is by Split Testing.
It works by creating an exact copy of your ad and running the ad in the same fashion as the precious one, but you will change one thing about it. Now, measure the performance of both the ads and choose which one is better and make changes accordingly. Make sure you change only one thing about the ad so that there is no confusion as to what caused the change in results.
- Tracking and Remarketing
Monitor all your data and know the performance of the tool that are important, like Return on Ad spend and Facebook Conversion rate. Track down all the statistics and compare your costs with your expected results. Facebook remarketing also helps in lowering advertisement costs. 3 Facebook Ad Targeting Strategies that will help you Build Your Email list.
But when it comes to event tracking its way more different. Here are 5 best practices of google analytics event tracking.
Follow these rules to lower costs of advertisement on Facebook. Know the best way to attract your customers. Interact with them so that you can earn their trust and confidence and convince them easily to buy your product.