7 Tips to Bring Your Ad Costs Down
Are you getting frustrated with your Facebook ads? Not getting the results you need? I’m giving you 7 tips you should be following to bring your ad costs down.
1. Relevancy Score: This is on the Ad level in the Ads Manager and tells you how relevant Facebook thinks your ad is to your audience. A relevancy score between 7 and 10 is a good number and you should be seeing tons of engagement and interaction with a score like that. If your relevancy score is lower, Facebook will penalize you and you will start to see higher ad costs. A low relevancy score is telling you something is going on with either your ad or your targeted audience.
If you’re getting a low relevance score, try changing the audience or thread creative to see if that helps bring up your score.
2. Frequency Score: This is the number of times one person has seen your ad. Impressions is the total number of times your ad has been seen. Reach is the number of people that have seen your ad.
So if you have 1000 impressions and 500 reach, that means everyone has seen your ad twice and your frequency score is 2, which is fine! But when you people start seeing your ad 4 or more times, that ad is now costing you money! Your relevancy score could take a hit, too, if these people are seeing your ad this many times and not interacting with it.
3. Audience Targeting: If your audience targeting is off, your ad costs will increase. If you audience is a very desirable audience, because remember Facebook is an auction platform and we are competing against other advertisers to be seen, your ad cost will increase. Also, Facebook outsources some of its data to third party services, and if you choose an audience that is provided by one of those third party data partners, your ad cost will be more. Facebook will tell you if it’s third party data on the ad set level under the detailed targeting section, so just be cautious of that.
Look at the audience you are targeting, split it up into different ad sets by grouping similar interests or custom audiences together, and see which ad set performs the best by analyzing the data for each ad set. This will help bring your ad costs down.
4. Objective Choice: The campaign objective you choose will affect your ad costs. For example, video views are going to be a lot cheaper than conversions, however, video views may cost you more in the long run because people who are likely to watch a video are not necessarily likely to convert. Always choose a campaign with your end goal in mind and don’t forget to test test test! Check out this previous post to learn more about testing your ads: How to Save Time and Money Testing Facebook Ads.
5. Image and Copy testing: Split test everything! You may think your ad was a failure, but the truth is, if you haven’t tested different images, different headlines, and different ad copy, then you don’t really know! I’ve made a super short and helpful video on Why You Should Split Ads into Different Ad Sets if you want to learn more about split testing.
Facebook introduced a powerful new tool in 2017 called Dynamic Creative that helps to automate the testing of different creative. This. Is. So. Cool. I’m so excited to use this feature because I can test different pictures, copy, videos all together. Dynamic Creative can be chosen on the Ad Set level and should help automate the testing process by letting Facebook’s powerful algorithm find the best combinations of ad image, headline, text, and description without you having to manually do it. This should help bring your ad costs down, however as of early 2018, you can only choose Dynamic Creative for certain Campaign objectives and it is not rolled out to every ad account just yet. Because Facebook is smarter than we are, it will find the right combination of variables for you!
6. Data tracking: To bring your ad costs down, you have to track your data!! Read your data and understand what it means. You have to know your numbers to be a good marketer on Facebook. If you have no idea how to do this, I recommend joining FB Ad School where there is an in-depth training on how to properly read your ad data to make educated decisions on your ads.
7. Building out a funnel: Provide tons of value before you go for the sale! You don’t have to literally build out a huge funnel with landing pages and email CRMs if you haven’t yet tested your idea out. In fact, I advise against that. What I mean here is start with a lot of value to build up your warm audience. This includes educational videos, blog posts, engagement campaigns, webinars, etc.
Invest your time and money in nurturing your audience at the top of the funnel before you go for the sale with conversion ads.
The only time I recommend going for the purchase conversion right away is if you have a low cost or novel product that is unique or solved an extreme pain point. In that situation, it’s probably an easy sell and you can go directly for conversions and have good results without needing to run top of the funnel ads.
Those are your 7 tips to bring your Facebook ad costs down, but really this all boils down to two BIG concepts:
Knowing your numbers and data and Testing!
Test Test Test and do what the numbers tell you!
Have you had success with any of my 7 tips? Share your success stories below!
If you want hands-on weekly training with your Facebook ads through LIVE weekly tutorials and office hours with Toccara, check out FB Ad School, a premium Facebook experience and implementation work group for DIY Facebook marketers.
If you want to see more FREE Facebook ad tutorial videos, check out my Tutorials Page for tons of value nuggets.
You can also follow me on Facebook or Instagram to get new tutorial videos every week.
Questions about bringing down ad costs? Drop them in the comments below and I’ll be happy to answer!