Facebook has become one of the main platforms that businesses consider when preparing their advertising strategy. But most business owners probably ask themselves the question, “What is the cost of Facebook Ads?”. The reality is that there are many factors that influence your Facebook advertising cost. Among them are the bidding model, the target audience, the placement, and the ad quality and relevance.
Let’s review some of the top factors to consider when it comes to the cost of Facebook Ads.
The Bidding Model
When it comes to the bid strategy, Facebook offers a few options that will basically be divided between automatic or manual. Those options are: Highest value or lowest cost, cost cap, target cost or bid cap. There is not a universal bid strategy that works for every type of business, but understanding the bid model that works best for your campaigns will determine your ad delivery and its cost.
One of the main factors that will increase the cost of your campaigns is related to the audience you are trying to reach. If there are many other advertisers targeting the same audience, your cost will raise as the ad space is limited. It is recommended to create a specific audience rather than targeting a very broad one. Testing different audiences will help you understand which ones are the right audiences for your brand.
There are many placements to choose from, Facebook and Instagram news feed, stories, Audience Network, Messenger… Facebook’s recommendation is to select automatic placements, which means advertising in all of them, and by doing so the cost per result will lower. However, it is highly recommended to do an analysis to understand which are the placements that perform best for your campaigns. By avoiding those placements that do not bring you any conversions, you will avoid extra costs.
The Ad Quality and Relevance
The quality and relevance of your ad will most definitely have an effect on the cost. Your ad relevance will be rated with a score from 1 to 10, being 10 the highest possible score. Facebook will give a relevance score based on the positive or negative ad feedback your ad receives. It is extremely important to create ads that are relevant to your audience. Facebook will show your ads more than those with a lower relevance score, therefore you will pay less to reach more of your audience. There are other factors that will also affect the general cost of your Facebook ads.
For example, you should also take into consideration the time of the year, there are periods of time where the competition will be much higher. Black Friday and Cyber Monday, Christmas, Thanksgiving… During the holiday seasons in general your cost will be higher because of high competition.
As well as the industry you are in, to name a couple finance or insurance are two with the highest advertising cost. By taking all of the above into consideration and testing the different options that Facebook provides to advertisers you will be able to lower your total cost.
And if you have any questions about this or any other topic or you need help to scale your brand and you are spending over $500 a day. Do not hesitate to book a call below:
Facebook Ads are the best way to scale any Brand in 2020. You have more customers than ever that are wanting to buy products, you just need to make sure your ads are speaking directly to them.
If you are an established brand or dropshipper this will help improve your ad results. I am going to focus on video examples as they convert the best for our clients and in the eCom space. Being able to showcase different elements of your product, features, benefits, solutions, and customers using it with video is a big advantage compared to static images.
At the DimNiko Agency we manage just over $2.5 Million a month in ad spend so we see exactly what is working and we have 10 calls a week with high-level brands wanting to work with us so we get access to a lot of data right now.
We are personally working with some of these brands so you are seeing the best converting eCommerce Facebook ad examples at high levels of spend right here.
Go through each one of these brands and learn from the very best right now. You will start to see trends and patterns of content. The major point you need to take away is to test many different creative ideas and angles and measure what converts best. These world class ads give you the best starting point possible.
If you want help scaling your brand with Facebook Ads make sure to book a call with our team and we can show you what opportunities you are missing & how to grow the brand.
Creating a devoted community around your brand is a very important step in your social media marketing strategy. There are different social media marketing strategies examples but today I would like to tell you how to build an effective one.
So What Should a Social Media Strategy Include?
First of all you need to choose the main social media platform you’ll be using for your business. In order to do that you need to figure out who is your target audience. So the second important social media marketing technique is understanding your audience. This will help you answer all the questions about when, where and what to post. And last but not the least in order to build a marketing strategy using social media is analyzing your competitors. You need to get into their minds and figure out the social media marketing outline they are using in order to create better strategies.
Now that you’re done with all the analysis, let’s move on to content creation.
How Do You Create a Social Media Content Strategy?
First of all you need to diversify your content. If your main creatives are images, time to start uploading videos. If you’re mainly using videos, switch your efforts to images. Posting the same type of content can easily make your audience bored. Plus diversifying the content can bring much more engagement from different types of audiences.
Secondly you should always remember that your audience is with you not only to purchase your product but also to get additional value from your posts. In order to boost your social media marketing strategy try to educate your followers. If you’re selling some beauty products, don’t forget to post tutorials. Always post stories from satisfied customers, user generated content increases trust to your brand.
What Makes a Piece of Social Media Content Successful?
In order to build an effective social media marketing strategy, you need to reflect all the changes which are going on not only in your business but in the world or on the social media platform you’re using. You need to speak the same language your customer is speaking.
Since the main goal of a successful media content is to go viral, it is very important to make it shareable among users. You can add different hashtags and call to action buttons, initiate contests and giveaways. Successful social media content goes viral if it sparks strong emotions. If you create a funny, sad, sorrow, angry video, it will engage people with your content much easily. Just remember that if your business is serious, your content doesn’t necessarily need to be serious as well, it can be funny and attractive.
I hope all these tips will help you build a strong and effective social media marketing strategy.
If you’re spending over $500 a day and want to scale your brand, book a call below:
Facebook remarketing is one of the most important forms of advertising. It allows you to show ads specifically for those audiences that had some sort of previous contact with your brand.
This also means that your ROI is significantly higher on the Facebook retargeting campaigns, which overall makes your business more profitable.
When we talk about Facebook retargeting strategy the most important step is to find the people that have engaged with your business and then identify the audiences and audience groups that can be retargeted. So first we need to check what kind of previous visits and actions can be tracked and retargeted.
Website Traffic – Pixel Retargeting
With Facebook advertising it is essential to place a pixel code to your website, which will track visitors and collect data on the actions visitors take on the website. It can track which page was visited, how many times, by how many visitors. Creating product catalogs will also give you data on which product was added to cart, purchased and so on.
Analysing this data allows you to create custom audiences which will be the core of your Facebook remarketing Strategy and retargeting Ads.
Social Media Accounts
Most social media platforms provide statistical reports for business accounts about user engagement. Facebook allows you to create audiences about business page likers, organic and paid post engagements, message senders and video viewers.
You can also look at the data with demographic breakdown and if the pixel is placed on your website, you can analyse the social engagement data together with the pixel data. For example showing what percentages of your customers liked your Instagram or Facebook Business Page and vice versa.
This will allow you to retarget all of these audiences and convert them to purchasers or upsell, cross-sell and resell to them.
Facebook allows you to upload custom lists to your Business Account and retarget them. You can create these custom lists based on any customer data that you have collected within your business. It can be customers that visited your physical store, signed up to your newsletters, attended an event or purchased from your store.
While pixel data is dynamic data that normally gets updated automatically, custom lists are often static lists, meaning they only get updated when you reupload them. However, in certain cases you can integrate other platforms with Facebook Audiences and create custom lists based on actions that were taken on other platforms. For example you can integrate Facebook with Klavyio and create a list based on an audience segment that opened a newsletter, which can be retargeted with Facebook Ads.
After you identified and created the available audiences that can be retargeted by Facebook Ads, your Facebook remarketing strategy needs to specify those audiences that you want to retarget.
Planning your Facebook retargeting strategy will mainly depend on your business goals and resources. On Facebook we normally recommend to spend 20-40% of your advertising budget on retargeting, so you can create enough ads that are relevant to people based on where they are in their customer journey or buying circle.
Facebook Remarketing Strategy 1.
One of the most popular Facebook retargeting strategies when you create 2 separate campaigns.
One for retargeting website data which is the most valuable as the customers are further down the customer journey. We often call it bottom of funnel (BOF) or Hot traffic. It is hot because they are the easiest to convert them into purchasers. You will segment your audiences based on pixel events, frequency and recency. For example: Page viewers last 3 day, Page viewers last 4-7 days, Added to Cart in the past 7 days, and you add audiences as detailed as you can, as long as your adsets perform.
The second campaign is called middle of the funnel (MOF) or warm traffic and includes audiences that haven’t been on the website yet, so they are not yet close to purchase but had some kind of contact with the brand before. These are usually the Social Media Engagers, Video viewers or any Custom lists that are created for audiences prior to visiting the website. On this campaign you also separate the audience as much details you can. For example Everyone who liked your FB Page in the last 30 days, everyone who watched 90% of your videos in the last 7 days…
Both of these campaigns can be set up with Campaign Budget optimisation and with Adset Budget Optimisation. Advantages of CBO is that the algorithm will decide how to distribute the budget across adsets / audiences, potentially spending it in the most efficient way. It works very well when you have a campaign running for long term with a relatively fixed budget, without any significant promotions or seasonal periods. ABO is better to use when the ad account and pixel doesn’t have so much previous history as you manually select how much budget would be spent daily on a specific adset / audience. It also works very well when there are promotions, for example during Black Friday as you need to increase budget on a very specific audience, not on the whole campaign. This way you hae more control over the adsets.
You can read more about the best BOF and MOF audiences here.
Facebook Remarketing Strategy 2.
The other very effective Facebook retargeting strategy is when you consolidate your audiences into 1-3 adsets only. For example on BOF campaign you only set up an adset for Page Viewers in the last 30 days and Added to Carts in the last 30 days. And on MOF you set up an adset for IG and FB engagers in the past 365 days, and an adset for video viewers in the past 90 days.
This strategy can be only used in CBO as the algorithm will allocate budget between the audiences, and find the conversion within the consolidated adsets. Other advantage of this strategy is that you more likely meet the 50 conversion / adset / week criteria that Facebook recommends. However it is not recommended to use for businesses where the repurchasing cycle is shorter than 30 days, or when the pixel doesn’t have significant event history.
We wrote about an interesting case study about testing this Facebook remarketing strategy, that you can read here
Facebook Remarketing Strategy 3.
Another popular retargeting strategy is using Facebook dynamic ads with Catalog Sales objective. To be able use this strategy you will need to create a catalog and connect it with your pixel. You can read here about this.
This strategy allows you to retarget audiences with product ads based on their browsing history. Meaning if a website visitor looked at one of your products, but left without purchasing it, you can retarget this user with a dynamic product ad, so the person will see the same product as an ad that was visited previously on your website. You can also use this strategy to cross-sell or upsell products if you create product sets that are usually sold together.
I would also recommend including Retention campaigns in your Facebook remarketing Strategy as Facebook is not only a customer acquisition channel, but it can help increase retention, and the lifetime value of a customer. You can read here about the Importance of retention campaigns here.
Hope you enjoyed the read! If you’re spending over $500 a day and need help with your retargeting campaigns book a call below:
One of the best tools that Facebook offers for businesses to grow their fans and customers are Lead Ads.
What Is One of the Major Benefits of Facebook Lead Ads?
They allow advertisers to collect information from prospects directly from mobile ads. That’s key for Facebook’s 88 percent share of mobile users–especially since it typically takes 40 percent longer to complete forms on desktop.
With lead ads you don’t send traffic to an external webpage where you show lead opt-in and then customers must fill that form and press submit, but you make an ad where prospect’s information (name and email) is pre-populated so they just have to hit submit.
Another advantage Facebook lead generation ads offer is that generated leads can be synced directly with your company’s customer-relationship management system or downloaded as a .CSV file. This allows marketers to follow-up more efficiently, which is vital for closing the deal.
How Do I Optimize Lead Ads on Facebook?
If you’ve created some campaigns till now on Facebook, then you know that optimization is everything. Process to optimize lead campaigns is the same as with conversion campaigns or with any other objective.
Usually we start with some general targeting based on the audience we want to reach. We upload one piece of content and we add some text. Depending on the budget, we have to wait to see what kind of performance we will get.
If we get bad CPC, then we know something is wrong with our ad or targeting and we need to tweak it. Same is with CPL (cost per lead). If we get too high CPL that is not profitable or breakeven for our business, then we need to optimize it.
There are many strategies on how to lower CPL and our media team has swiss-knife for every situation, but in general is very simple. Test, test, test. Till you don’t find a perfect combination of good creative and good ad copy that is giving good CPL at desired budget.
How Much Do Facebook Lead Ads Cost?
Every year from 2015 we see cost per leads or conversions are slightly increasing. This is due to Facebook growing and becoming a better tool, with millions of advertisers who are competing for their clicks. Same happened with Google in early days when CPC went from few cents to few dozen cents.
With Facebook we assume it’s gonna be a very similar story, so be ready to spend more for your leads in upcoming years.
Our lead campaigns for clients are very different. We’ve had clients whose CPL was below $5, and we have clients who are happy with CPL around $30. That all depends on what product or service you’re selling and how much is your CLV (customer lifetime value).
Example: If you know that your CLV is $90, but your product you sell costs only $45, then you know that you can spend more than $45 to acquire a new customer. How much more is based on your other costs and processes in your business.
How Do I Download Lead Ads from Facebook?
When your Lead campaign is live and is bringing you leads, you need to download those leads and import them into your CRM or email marketing tools. How you do this is pretty simple.
You just need to go to the Publishing Tools tab at the top of your Facebook page and click Forms Library on the left side of the screen. You need to have administrator access to view forms. After that you just select Form Library to access your forms.
Facebook Leads Ad Examples
Below are a few different examples of lead forms found online, just to generate a few ideas of how you can use this tool in your business.
Have you ever struggled to understand why the data you see on Facebook reporting and Google Analytics differs? Would you like to know more about what is causing these discrepancies? Hopefully today I will help you shed some light into it. One if not the major cause for discrepancies between Facebook and Google reporting is the way they attribute conversions.
Facebook Attribution Model
By default, the attribution model on Facebook will track and report any conversion that involves the customer interacting with an ad and then converting. For example, a user clicks on your Facebook ad but does not convert, later on that day (or even few days later) the user decides to search for your brand on Google, clicks on your Google ad and makes a purchase. Facebook will still attribute that conversion to itself. And this is why you are more likely to see a higher number of conversions on Facebook reporting than Google Analytics.
In the default attribution model, Facebook also includes view-through conversions. Meaning that if a user does not even click on your ad but only views it and then converts through a different platform within a period of 24 hours, Facebook will still attribute that conversion to itself. However, these type of view-through conversions will never be tracked in Google Analytics.
Google Analytics Attribution Model
On the other hand, Google Analytics tracks conversions based on a last-touch model. If we look at the example above, a user that clicks on an ad on Facebook but ends up converting through Google ads. Google Analytics will attribute that conversion to Google ads only.
Based just on this, you will already have a major discrepancy within your reports. But another cause for discrepancies in the reports is due to cross-devices conversions. Facebook is able to track users across different devices or browsers as long as they are signed into their Facebook profile. While Google relies purely on cookies. Meaning that if the same user makes two separate actions through a different browser or device, Google Analytics will attribute it as two different users.
So, what can you do to avoid these discrepancies between Facebook and Google? Well unfortunately not a lot can be done. There will always be a difference in the reporting at some level, but if you wish to close the gap between the two, you can try the following:
Always make sure that both Facebook pixel and GA tag are installed correctly and there are no technical issues affecting the reports.
Remove view-through conversions from Facebook, this will already show you a much closer data to Google Analytics.
Use the multi-channel report from Google Analytics.
It will help you understand the assisted conversions from different platforms and how much Facebook ads have influenced those conversions.
Finally, I would like to add that it is very important to understand that Google Analytics and Facebook are two separate tools. They use different tracking methods and they report conversions differently. Due to reporting differently, both should be seen as complementary platforms, that together they provide a bigger picture and understanding of your business advertising. There is no reason to worry about them matching a 100%.
And one last thing before I finish, if you are spending over $500 a day and you want to scale your brand. Book a call below:
Today I’d like to share with you some tips and tricks about Facebook Ads split testing.
Split testing helps you test different variables to understand which is more effective for your business. It can be many kinds of starting from the campaign types, audiences, age, placements, platforms, and creatives, but I will focus in this post on the creative side to understand how you can run more effective tests.
How Do You Split Test Ads on FB?
There are several ways, but I will highlight those that I have more experience with, and I actually saw results.
The only way to know before pumping too much budget blindly into a campaign is to test all components of an ad and start spending only when you know that something works.
What I mean is to test images vs video, colors, CTAs, different descriptions, different ad texts and angles. Believe it or not, even the smallest change can improve performance.
Firstly it has to be decided with which campaign type you’d like to test:
a) FB’s default split testing campaign type
b) Conversion objective campaign
c) Traffic campaign
These 3 are used generally to test ad creatives, but my personal choice is conversion objective as most of the time the default split testing campaigns spent the budget and the results were not giving me enough data to decide or results were very bad + it is required to add a higher budget. Traffic campaigns are also popular, but they aren’t driving conversions as it’s not their goal. However, it’s cheaper and can be a good starting point to understand the CTR’s %. The best results I got with the conversion campaigns set on a low budget.
How Do You Split Test Ads on Facebook?
As mentioned earlier when testing a creative the following is tested generally: colors of the image video, the ad text, the CTA, description and then different angles.
In one campaign I set up dynamic ads 2 to 3 ad sets with different audience combinations and test 2 variables, dupe the campaign and add another 2 variables to test. The winners are going to a duplicated campaign with higher budgets.
Another version is to use dynamic ads again and add 3 versions of each variable and based on the results it will be duped into a new campaign. If you’re not 100% sure what’s the winning variable is you can run multiple test campaigns using different audience pools.
What Budget Should You Test With and For How Long?
Normally it would be a CPA, however, if it’s a high-ticket item you shouldn’t spend that much. A $15 to $30 daily budget should be sufficient time to understand between 4 to 7 days of running it.
That’s my feedback on Facebook ads split test and I hope it can give value to your testing campaigns. Please feel free to share with us your feedback if you applied this testing strategy.
Also, if you’re spending over $500 a day and want to scale your brand you can book a call below:
Globally there are over 2.6 billion active users on Facebook that provides the biggest trade market in the world. Whether your business sells online or not, that is a huge market opportunity to ignore. In 2020 it’s no question that online presence is essential for businesses no matter which industry or niche they are in. Which seems to be supported by the fact that there are over 90 million business pages registered on Facebook. However there are only 7M active advertisers meaning there are still many businesses that are not actively using Facebook as a customer acquisition platform.
If you are in ecommerce then this guide will help you with Facebook ecommerce integration so you not only can connect with your customers on a social level, but on shopping one too.
How Does Facebook Ecommerce Work?
If you have an online store or just starting out and want to set up one, using Facebook as a sales channel is an easy and fast way to do it. Facebook Store / Shop is a kind of Facebook Page where you can list your products to reach a wider audience and allows you to sell directly to them. Setting up and maintaining a Facebook store is easy and simple.
What is Facebook Business Integration? Facebook Business integration is the process when you “virtually” set up your shop that Facebook users can visit, browse and shop.
Two Ways for Facebook Ecommerce Integration:
You use Facebook Platform itself and create a Store there, listing the products, set up shopping carts and connect payment methods
Use an ecommerce website platform to create an online store, which you can link and connect to your Facebook Store.
How to Sell Products on a Facebook Store
Creating a Business Page, or business account is completely separate from your personal profile, therefore if you have more businesses you can create more pages as well. You can find more information on how to set up a Business Page here. Once you set up your Facebook Business Page select the “Shop” tag to create a store page. If this option is available you may need to change your page’s template to a shopping template, you can check out how to do that here. When people visit your Facebook Page and click the Store tab they can see all your products that you listed.
How to Add Products to Your Facebook Store?
If you want to manually add products to your Facebook Store it’s easy, just follow these simple steps:
Go to the Shop tab on your Facebook Page
Click Add Product
Upload product images and the product titles
You can include product descriptions, details and sizing if applicable
You can also add inventory count, even by variations in case you have several colors, sizes etc. In this case just click Edit options.
You can also add Delivery information, Returns policy and add a product category as well
When ready just click Save
Integrating Facebook Store with Ecommerce Website
As we mentioned above there are 2 options to complete Facebook ecommerce integration, so if you choose to use an ecommerce platform to create an online store adding products to your Facebook Business Page can be done automatically. In this way to complete Facebook ecommerce integration all you need to do is to connect the ecommerce platform with your Facebook store and you can start selling.
There are several ecommerce platforms to choose from based on your business’s needs. We recommended the following ecommerce platforms to integrate with Facebook Store:
Once your online ecommerce store is created, you can easily connect it with your Business Page in the Settings and then all your products will automatically listed in your Facebook Store. Having a Facebook Shop is going to help your business to reach new audiences, acquire customers and sell to your existing customer base. However as part of your marketing strategy you should be working on growing your Facebook audience organically and as well via advertising in order to truly benefit from having a Facebook Page.
Hope you enjoyed the read! If you’re spending over $500 a day and need help with you Facebook campaigns book a call below:
I never worked with message campaigns before as I mostly used Conversions optimization for the past 3 years. 30% of my time goes to lead generation, traffic, catalog sales, post engagement and video views. 6 years ago I ran lots of page like campaigns, as my strategy was at that time (now grey area), to build up quickly fan pages for famous athletes and sport teams, and then post affiliate offers to those pages and make a lot of money. That’s when I started to play with Facebook and from there a lot of things changed.
Some changes were good and some changes were bad. The worst change was when it became hard for newbies like I was at that time, to learn this game by not spending tons of money. At that time, you could get 1000 fans easily with 20-50 USD. Now you have to pay a lot more. How did that work? Easy. You just made an ad with ‘Like our page if you like ’. Or ‘You like _, then like our page’. It was easy money and a very easy game for newbies.
A few friends of mine scaled their business to 30-50 pages in a few months, and every page brought 5-20k a month in affiliate revenue. For me it wasn’t such a big success, but I made some money so that I could later spend on learning new techniques and buying more ads. So at the end, what Facebook gave me it took back. Pretty sad, right?
The thing that it didn’t take from me is my knowledge, so I can quickly adopt and test new things not just on FB, but also on other media channels. In the end, they all work the same. You test, you optimize, you scale and then repeat the cycle. But I didn’t want to talk about this today. I started this topic just to bring the bigger picture of how some things that used to work a few years ago, now just don’t work. And how quickly we have to adapt to new things that Facebook spits out everyday.
As I mentioned before, these message campaigns were very new for me 2 months ago. But after I learnt how they work, they can be implemented to most online businesses very quickly.
So let me first tell you what a message campaign is – It’s the campaign on Facebook that optimizes for Messenger conversations. This means that it sends people from your ad to conversation with FB Messenger. You will need to change the ad copy and invite people at the end to get more help or information via chat. When a user clicks from your ad and starts to chat with you, FB sees this as a conversion and shows your ads to more and more people, who are more likely to chat during the optimization phase.
The reason why I started using those ads was my new client, who was collection leads for his service in a financial niche. He had a team of several support agents on the phone, who called each lead as soon as he or she completed a form on their website on a daily basis. The best leads as he said were very ‘hot leads’ – that means those which his agents called up to 15 mins after they signed up this form. His CPL (cost per leads) was increasing lately so he came to us if we can help him.
When I got his account I almost went crazy, as there were more than 100 small campaigns segmented by little geos of no more than 50k people. Half of the account was at small budget and half around $100. He wanted to have leads around $30 but lately leads cost went up to $50 and even $70 at some days. The problem with this account was also daily optimization, as we weren’t allowed to run ads 24/7, but we had to turn them down daily after a certain amount of budget was spent.
We also had to run ads only during the time his agents were in the office. That was 7am to 5pm Monday to Thursday. Pretty hectic scenario for campaign optimization right? Anyway, after one week I somehow figured out how to manage them with rules. I tried FB rules but couldn’t make it for the account spend limit at certain budget, so I had to go to Revealbot app and scheduled several rules there. At one point when everything was automated, and when I killed 3/4 of his nonprofitable campaigns, I realized this won’t work as I predicted at the beginning. Targeted geo was very small and campaigns just weren’t spending enough to be where we said we were gonna be.
So one day I started to test message campaigns, as I found one campaign from the past that performed really well. He or the agency before wanted to test those campaigns, and I saw it brought some cheap leads. I decided to split-test this with several creatives and just duplicate all lead campaigns into msg at higher budget. After a week of testing and scaling daily message campaigns, the client called me in excitement and told me how happy he is with our results.
So far I couldn’t really know how good they are performing, because we didn’t get daily reports of how many of those lead and message campaigns actually converted for him. But he explained weekly results and concluded that those message campaigns outperformed lead campaigns by 2x. This means that the conversion rate of final leads out of those msg campaigns were 50%, while at lead it was less than 25%. It also means that when I see 10 message conversions in my ads manager, they get 5 deals signed that day.
In comparison to standard lead campaigns where conversion was less than 25%, that would mean only 2 leads that day.
Now the final result is even better! Drum roll please!!
The conversions for leads as I said before, were costing us lately $50 to $70. But the conversion for message campaigns were costing us $6-10. What do you say about that?!
Will you try this in your business?? Will you make it work?? Msg campaigns are a great opportunity right now and definitely are worth your focus and testing. With the right steps, we think you can bring the costs of your CPA or CPL down to 2x if not higher. For sure you need to have a person who will respond to those messages, but that is very easy to do. Then you will have to test and optimize and then test again and scale and… you know how it goes. If you want us to set up this system in your business, go here and sign up with us ==> www.dimniko.com/scale
We think it is a big opportunity if done in the right way. Especially now when nobody is using this method and the cost is still very low.
Anyway, have a good day and don’t miss opportunities FB is bringing you!
The quicker you adopt, the better your business can grow.
CPM or Cost per Mille is the cost per thousand impressions on an ad, and the amount that you are paying per every thousand impressions depends on many factors. Some of these factors are your target audience, the campaign objective, the type of industry you are in or your optimization settings, among others. One important thing to mention is that when CPM drops, your cost per click, cost per acquisition, and cost per lead generally decrease as well. So basically you will be having a better return with less ad spend.
So let’s look at some factors that you can take into consideration when you are looking into lowering your CPM:
Audience: Facebook ad space is limited and some audiences are more demanded than others. This means that targeting the most competitive audiences will increase your expenses.
Placement: Each placement has a different CPC and impression. By avoiding higher-cost and low-performing placements you can already improve results.
Quality ranking: The quality ranking has a direct impact on how much you are paying and how often your ad is shown. The higher your ranking is, the less you’ll pay and the better your results will be..
Bidding strategy: By using a bid cap or target cost you can prevent unnecessary and expensive clicks.
Frequency: High CPMs can be a sign of high frequency. Try to keep your frequency below 3. Showing your ad over and over to the same person without this one taking an action will tell Facebook that your ad is irrelevant and the cost will increase.
Ad schedule: The day of the week or time of the day impacts the cost of your ads. Setting the ad schedule that works best for your ads can help you reduce costs and maximize results.
These factors above are some of the most common elements that advertisers look at when they are seeing high CPMs on their campaigns. But there are also other aspects that we you can consider when working towards lowering costs, for example:
Video ads: Facebook provides a bigger impression share for videos than image ads which means you can have lower costs when running video ads. If you are unable to create a good video, you can also use Facebook tools to create slideshows.
Higher engagement: Do you have a Facebook group with your customers? You can share your new ads with them to engage with it if they find it relevant. It is proven that by having a higher engagement on your ads, Facebook will reward you by showing it to more people which will lower your CPM.
Retargeting campaigns: As I mentioned earlier, some very competitive audiences will also have a very high CPC and CPM cost. Showing your ads to a warm audience will automatically get you better results.
Link clicks: Optimizing by link clicks has a lower cost than conversions, however! this traffic might not necessarily help you increase your ROAs. Running a campaign optimizing by link clicks is still worth it in order to increase cold traffic at a lower cost, and is worth testing, especially if you have a good offer to retarget that traffic later on.