When it comes to optimizing your paid campaigns to reduce how much you’re spending per conversion or interaction, it can be difficult to know where to start.
The name of the game for many of the Facebook Advertising campaigns we’ve been a part of is reducing Cost per Interaction, or controlling the amount we’re spending on an engagement through continuous testing, evaluation, and optimization.
If you’re looking to reduce cost and increase engagement in your Facebook campaigns, you’re going to love these tips.
Use Facebook’s split testing capabilities when testing ad sets. It makes it very easy to manage budgets and Facebook does a great job at allocating budget to the winning ad set so you don’t have to watch it every second.
Try 1%, 2%, 3% lookalike audiences. Usually, if you have a big enough fan base, the 1% lookalike is going to be lowest cost per like!
Test Friends of Fans. Test them! When promoting events this ad set may even out perform your fans! We’ve seen it!
Look at Facebook Audience Insights. Look at how your fan’s demographics differ from the rest of users on facebook. You could find certain demographics that love you (and are cheaper to attract).
We use accelerated ads and control spend with a bid cap. If ad spend is moving too slowly you can raise the cap. This minimizes your cost per like.
Always be testing those images! Your ad images make the biggest impact on your cost per like. Always test at least 4 at a time. Keep the best 2 and test 2 more the next period. Depending on your business we’ve seen images behave differently in certain seasons too! When in summer try images that look warm and sunny. Images may become stale too. If they are not performing, try new ones.
Emojis unlock doors you can’t even imagine—the holy grail of social advertising. Well, maybe not for everyone, but you still need to try them in your ads immediately (right now). We’ve seen them cut our cost per like in half! 😈