Actually, it is not only about Facebook, no matter which platform you choose to advertise like Google, Facebook, Instagram or beyond, managing CPC takes a lot of efforts. CPC has a great impact how much you spend on ad costs in those channels. So, it is quite normal to worry about how much we are paying for Facebook ads. It is important to know how to reduce the Facebook advertising costs and improve return on investment. Yes, that’s true this means you have to lower the CPC cost and translates into more clicks and sales, with the same budget.
You know, when we talk about Facebook, one thing that comes to mind is about the platform because it is so compelling for advertisers for many reasons. It has powerful targeting options and reasonable costs, among others. Your Facebook ad costs vary due to various factors such as your industry, goals, audience, and optimization settings. Well, most of us think that marketers don’t realize that they don’t have to sacrifice on cost to get results. However, it is not entirely true, you’ll likely see lower CPC because you’re getting more results.
Coming back to answering the question on minimizing the CPC on Facebook, I would like to add on few points. Hope you will consider them. Here you go!
1. Select the right Ad placement: Methods of selecting the advertisement placements can actually work for your ads and your offerings. One thing that could be is to hire a graphic designer. This way you can run advertisements on all placements to begin. Then you can compare the results and where they are cheaper and then you can create customized creatives for those placements. For example: If your messenger ads are doing well and generating link clicks, you can exclude all the others and create a custom graphic for the placements that work. The second method that you can adopt is to only place your ads on the Facebook news feed and Instagram feeds from the get-go. Technically, these are traditionally the highest converting placements.
2. Relevance score plays an important role : Understand your Relevance Score because it directly affects CPC. If you are wondering what Relevance Score is, it is actually a magic number which varies from 1 to 10. It let you know how much relevant is your ad to the target audience. Lesser the score bad the results. However, Facebook only shows this if you pay more. And, if your Relevance Score is 8 or higher it means that your ad is perfectly matching your target audience. The elements of Relevance Score are based on feedback if it is positive or negative. More the positives, higher the scores.
Below mentioned are some of the things to consider if you want to improve your Relevance Score:
- Try to target narrow audience.
- Write the message and show the image that will match with your audience’s preferences.
- Refresh your ads always.
- Test different things like showing different ads to the same audience.
- Avoid using offensive and misleading content.
3. Set up your Facebook Pixel : One of the biggest tips that one can give you is to set up your Facebook Pixel. This is among the few lines of code which you can put into your website for tracking the conversions and access data about your clients. This feature not only helps you to track who your clients and visitors are on Facebook page, but it also collects data like How much money do they earn? Where do they live? What are they interested in? What things have they bought recently? What is their average purchase price?