In the previous part, we discover the reason why and 2 tips to reduce Facebook Ads costs. Continue reading to figure out the 2 remaining tips in this article.
#3: Refresh Your Facebook Ad Creative at Least Once a Month to Reduce Ads Costs
When your ad costs start to rise, one of the first things you can do is renew your ad creative. To put it another way, replace the image with a newer one. Fresh content will also stand out in people’s news feeds as a new image, as the Facebook algorithm favors new items over older items.
When it comes to strategy, many businesses and marketers make the error of waiting too long before creating new imagery. Many brands wait until ad prices have already begun to rise before visiting their ad and beginning to design new imagery, test it, and finally replace the old imagery in the ad. This could result in a far bigger increase in ad prices than was necessary.
Instead, have the new imagery designed and ready to go, or have it running in a separate test. It’s considerably easier to switch out the ad sets for the new image once you notice your ad expenditures start to rise.
Once a month, you should review and refresh the creative for most ads. If your ad has a greater budget, you might want to consider renewing the creative more frequently.
Of course, if everything appears to be going smoothly when you analyze your ads, conversions are optimized, and delivery is high at reasonable ads costs, you won’t want to change anything at that time. However, it is still a good idea to review your ads and have new creative available and tested. As you may be aware, nothing on social media stays the same for long, and as the months pass, that ad’s performance may begin to deteriorate.
Make Change to Your Facebook Ads Creative
If your ad costs continue to rise after you’ve updated the creative, you may need to revisit your messaging. Make sure your Facebook ad copy and content are good quality, and that you’ve honed in your brand and the demographic you serve.
As consumers get smarter, the value we have to provide as marketers to capture their attention must likewise become more sophisticated. Offering a simple checklist is no longer sufficient to pique their interest.
If you find that this is the case, go back over your offer and see if your target audience would buy it if it had a price tag. Offering higher-level freebies has shown to be more effective in lowering marketing costs for many businesses. If your guide is good enough that some people would pay money for it, chances are it will do well in lead generation ads.
Images or Video for Facebook Ads?
Another concern that frequently arises is whether images or videos are better for ads. The truth is that it all relies on your company, product or service, and target market. Some firms do better with images in their ads, while others do better with videos.
We propose conducting ongoing audience testing to determine which format works best. You can also experiment with different forms. You may, for example, compare a typical landscape video to a more organic video, such as an Instagram reel that you download and repurpose.
Remember that if you download your Instagram reel to use as an ad, the music will be removed. You’ll need to find royalty-free music to replace it due to commercial purposes.
#4: Test 4 Facebook Ad Campaign Components to Optimize Ads Costs
Businesses and marketers should be testing the usual suspects: headline copy, images, and format. You can also check your copy for stuff like emoticons. We are in an age where people are growing more conscious of ads and have begun to tune them out. Sometimes a more casual, conversational copy might sound more approachable and organic.
Several other factors, in addition to these fundamental tests, may have an impact on your ad expenses.
You might want to compare and contrast Facebook’s dynamic ads with your own pre-written ads. Dynamic ads on Facebook allow you to create multiple versions of each component of your ad—the headline copy and imagery—and then Facebook will choose how to display them dynamically based on the audience member, with the goal of creating the most compelling combination to compel that person to click.
Ads Costs and Campaign Budget Optimization
It’s also a good idea to put your campaign budget optimization to the test. Campaign budget optimization is a feature that Facebook has been pushing for a long time. Using this feature, you give Facebook (or rather, Facebook’s algorithm) control over how your ad campaign’s money is split up. As your campaigns begin to collect data, you may want to keep an eye on your budget and make adjustments as needed, deciding which ad to invest in.
You might also want to compare automatic vs. manual placements. Facebook will decide and distribute your ad into various areas using automatic placements. Facebook’s algorithm will be used again to try to figure out which locations would assist your ad to perform the best. Manually putting your ads based on where you think they’ll perform better or make the most sense for your message can be a better alternative.
You should also use Facebook tools to test different audiences. Because of evolving privacy laws, many lookalike audience features have been limited. Yet, Facebook still has tremendous retargeting tools at its disposal. You may create and test many custom audiences to see which ones respond best to your ads.