In running your Facebook Ads, some fluctuation in costs is normal. However, costs that increase significantly over a few days without getting your desired results indicate that you need to make some immediate changes to your ad campaigns. This is to quickly assess what might be driving up your expenses.
Well, I’ve also experienced this problem before but I managed to know what’s worth investing in, and what’s worth cutting back on. As a marketing expert, I will share with you my proven strategies:
-Reduce the daily budget of each of your individual ad campaigns that have high customer acquisition costs (CAC). Then set a daily budget for each campaign based on your advertising goals and the general amount you’re comfortable spending each day.
-Target a more specific audience. Your cost per click (CPC) could vary by nearly a dollar depending on what country you focus your ads on. So it’s best to tailor your ads to appeal to people in a specific demographic, geographical area, and set of interests.
-Ensure a good bidding strategy as it ultimately determines your ad delivery and cost. You can change your auction bidding from lowest cost to lowest cost with a cap. When you set a bid cap with the lowest-cost bidding, you can accomplish two different things depending on the cap value: prevent costs from rising above an amount you’re comfortable with, and increase the distribution of your ads within your targeting.
-Maintain a good score in Facebook Relevance Metrics with Facebook’s placement Asset Customization tool. This tool enables you to tailor your ad creative asset to each of your placements. By adjusting your ad creative this way, you can improve the relevancy of your ads, helping boost their engagement rate and effectiveness while lowering your costs.
Always remember that lowering your cost is good as long as you aren’t sacrificing the quality and success of your Ads. Now, are you ready to use these strategies?