Controlling Facebook Ads Cost: 5 Tips for a Profitable Campaign
Your Facebook ads cost can quickly grow out of control if you fail to do your homework. This guide will give you the tips you need for a profitable campaign.
Keyword(s): facebook ads cost
Facebook advertising accounts for 18.4% of global mobile digital advertising. If you aren’t advertising on this platform, you’re missing out.
Of course, if you’re brand new to Facebook ads, it’s easy to burn through a lot of money before you get it right.
Keep reading below if you want to learn how much Facebook ads cost and what you can do to control these costs to make a profit.
1. Facebook Ads Cost Change Daily
Facebook ads run on bidding so the costs can shift throughout the day.
Finding suggested times online is a good starting point. The best thing to do is check your own Facebook analytics to figure out the right day and time to run.
It’ll show you what type of audience is already interacting with your page. You can find when users are online, gender, education, relationships status, and more.
2. Set a Strategic Budget Using Facebook Cost Controls
Facebook offers businesses multiple options to control costs. One of the cheapest ways to maximize conversions is by using a cost cap.
Here are some of the best practices of cost caps on Facebook:
- Use cost caps when you want the highest number of conversions for a specific price
- Bid controls aren’t the same as cost caps, in the first you control the maximum bid, and the second you control cost per action
- Get the most conversions by using your full budgets to maximize efficiency
Besides a cost cap and bid cap, Facebook also permits you to set a target cost for consistent cost per conversion goals.
3. Who Should See Your Ad? Follow Delivery Results
Your Facebook Ads Manager dashboard is one of the best places to get data for ad building. One thing you can do is analyze where your previous ads have appeared.
In some cases, placements on mobile may be cheaper and have better results than on desktop. You can eliminate this placement in future campaigns and save yourself a few dollars.
4. Choosing the Best Marketing Objective in Facebook Ads Manager
Social media experts state the conversion objective seems to be the most affordable. It also has a high ROI.
The reason for this is Facebook’s incredible wealth of data plus all of the different actions you can do with a conversion mindset.
The key to being successful is staying on top of the ad’s performance and targeted audience. Both can shift quickly.
5. What Facebook Ad Audience Gets Your Best ROI?
You need to build a strategy before starting a Facebook ad campaign.
At the end of the day you want to leverage your current audience to gain more followers. And then make more sales.
Facebook allows you to build Lookalike Audiences who aren’t connected with you but resemble your customer’s persona. Sending more targeted ads will save you money in the long run.
Need Help With Your Facebook Ad Strategy?
If you want help figuring out Facebook ads cost, you can contact Facebook ads support or hire an agency to help you develop a winning strategy.
Contact us now! We can help with overall strategy, ad testing, and scaling your ads to get positive results.