It’s very easy to throw money down the drain on social advertising platforms if you don’t know what you’re doing. We don’t think that you should feel limited by your budget which is why we have compiled a shortlist on what you can do to improve your results, make your budget go further and start hitting your target KPIs.
Take a look at these simple adjustments that you can make with your ads.
1. Focus on top-selling products
Throwing everything at the wall and seeing what sticks won’t help when you have little wiggle room on ad spend. One of the best methods of keeping costs down is to focus on your best-selling products and services. If you know what sells well, it’s best to use the budget you have to market what works rather than what doesn’t. Focusing on your best sellers will help decrease your CPAs and CPCs.
2. Relevant targeting
We’re lucky that Facebook have a variety of audiences to target. We recommend branching out from interest targeting and start including behaviours and demographics. If you think your product or service might resonate better with employees of a certain industry, then use the job title feature to target them. This can help narrow down your audience to users that are more likely to be interested. Want to increase sales? Add engaged shoppers as a behaviour. This will help you target an audience that is more likely to buy products through Facebook ads and reducing overall costs.
Ad frequency can be an easily overlooked statistic. How many times have you been sick of seeing the same ad again and again on Facebook, YouTube or even on TV? This means you have been overly saturated with the ad. Your target frequency score should be around 2.5. Anything over that and you should be looking into optimising your ad to reduce it down. You can do this by either decreasing daily spend, changing the ad’s call to action that matches your final goal, or adding a variety of creatives to desaturate the overall frequency of an ad and to stop overspending on uninterested audiences.
4. Cost caps
If you’re worried about the cost of your conversions overspending, then it might be a good idea to start using cost caps. This may reduce the overall conversions you receive but will keep you in control of how much you actually want to spend per conversion, helping you keep costs down and you return of investment up!
5. Facebook Quality Ranking
Don’t leave creatives running for weeks on end. Always make sure you check Facebook’s ad relevance scores at the creative ad level to see just how your ads are resonating with your audience. It’s very easy to create an ad and leave it running without checking how it’s doing and then finding yourself in a bit of a pickle on why it hasn’t gained much traction. We recommend looking at the Facebook’s quality ranking scores.
They appear as:
Below Average (Bottom 35%, 20%, 10% of ads)
These are then spread out across three individual rankings:
Quality is measured using feedback on your ads and the post-click experience. Your ad is ranked against ads that competed for the same audience.
A ranking of your ad’s expected engagement rate. Engagement includes all clicks, likes, comments and shares. Your ad is ranked against ads that competed for the same audience.
Conversion Rate Ranking
A ranking of your ad’s expected conversion rate. Your ad is ranked against ads with your optimisation goal that competed for the same audience.
By having good quality and engagement rankings, this will lead to better conversion rates, therefore, improving your overall conversion results. Facebook has a useful ad relevance diagnostic tool that can help you identify what part of your ad needs changing.
It’s recommended to make your ads eye-catching and relevant, so if an ad isn’t working too well, change the copy and spice up the creatives with new images or design some yourself with Canva.
Making your budget stretch is difficult, but with the right knowledge, you can turn your investment into a healthy return. We hope these points can get you on the right track and help you see the results you want to see.