Testing out Facebook Ads are great. Sometimes it can backfire though. If you are learning how to decrease your Cost Per Click on Facebook, this is the spot. Decreasing your CPC on Facebook just takes a little of finagling but below you’ll find a few tips to help.
Note: Facebook will want to prove they can make money with your Ad before they begin lower your rates. Even if you lower your CPC, I have a tendency to below that you usually get what you pay for. What I mean by this is that even if you lower your CPC on Facebook advertising, you might not be getting the qualified leads or clicks that you are hoping for. So do not treat this as a magic bullet but as objective techniques and tips that can help lower your Cost Per Click.
Ensure you have a broad demographic and really narrow interests
What I mean by this – sometimes Facebook’s algorithms are a little funky in how things get priced out. They will work out your CPC based on how long your campaign is running, age group with averaged incomes, etc. One trick I’ve noticed for lowering the CPC is to have a really broad demographic, but have a lot of really narrow interests.
How it works:
Product: Say your advertising for Hearing Aids, and you know that in the state of Washington, most insurance companies will take care of your specific brand’s customer expenses. So you want to advertise practically free hearing aids for all ages.
Demographic: In Facebook, you would set the demographic to be all people in Washington State, above the age of 13 as your demographic, who speak English.
Interests: Put in tons of narrow interest’s of the audience you want interested. Anything from #ASL to #HearingAids to #ClosedCaptions. And I don’t mean at 10 or 15, I mean 50+ interests. This will narrow your audience even better then messing with your demographics information.
Benchmark your photos, constantly
Always benchmark your photos. If you have a CTR of .05% your actually doing okay. What I typically see though is click through rates of .05%, .01%, .08%, 2.5%. Always one rate that skyrockets over the others. Because of this I recommend running about four campaigns, with four different images each (total of 16 images), and benchmark them over a week period. Then take the top performing image from each
campaign and make a really good campaign using the top performing stuff and use it for about a month. Then Rinse, Lather, Repeat.
Like I stated earlier, Facebook wants to prove they can make money with your ads. If one ad shows early on that it will perform really well, then Facebook only will show that one advertisement, which is what pushes that. When you have a higher CTR based on your photos, facebook maximizes on that and lowers your CPC. A little counter-intuitive, but that’s what happens.
Benchmark your Copy
Using the above photos that you run for a month long, create 2 campaigns with those 4 good images. Try different copy for each image and benchmark them. Switch it around and keep testing.
This is two part reason for doing this. The first inherently is that you want to see what copy invokes people to click. You can use those types of taglines and advertisements anywhere and everywhere and end up being good resources for down the road. If you find copy and an image that work, try using them in your email campaign, landing pages, etc.
The second reason is more Facebook centric. There are ways that you can increase your click rate using specific types of photos. However, there are some people that would be insulted if you just used photos only to try and get clicks. The insult comes from either really simple or vague copy that a highly educated audience would think below them, or if the photo really has nothing to do with the copy, e.g. a really pretty lady that doesn’t use hearing aids. This can cause negative attention to your social media page and generally is not a good practice.
Questions, comments, concerns? Let me know!