Undoubtedly, Facebook ads one of the surest means of getting your brand right in front of your target audience. You can carefully handpick your prospects based on their area (s) of interest, demographics, etc.
How effective are Facebook Ads? The answer is very effective, but what you need to watch out for is a costly mistake that most beginners make when applying the strategies we will soon share.
Before you dive into paying for a Facebook ad, be sure that you have read, understood the tips in this article. The reason we are saying this is so that you will be as careful as you can; otherwise, you can easily spend a ton of money on Facebook advertising with nothing to show for it.
There are so many metrics that every business owner can use to get their products and services before their target audience, and one of the most efficient ones is the cost-per-click (CPC). Cost-per-click is one that certainly helps you keep your wallet in check.
This guide will talk about CPC and how you can use it in your Facebook Ads campaign.
Cost-per-click (CPC) is calculated by dividing the advertising cost by the number of clicks generated by an advertisement. The basic formula is: Cost-per-click
CPC is an acronym for cost-per-click, and it is the cost that you will pay for every click that will come to your ad campaign on Facebook. Asides from the content of your ad, other components can equally affect your Facebook CPC. Some of them include;
The relevance of your Ad and its quality This means how your target audience will react to your advertisement whenever it shows up on their timeline.
Ad targeting: This is who will see your advertisements.
Ad placement: This is where all your adverts will be displayed on Facebook, for example, newsfeed, mobile, sidebar, etc.
TIPS ON HOW TO CALCULATE FACEBOOK ADS CPC
Facebook says you can calculate your CPC by dividing the total spending by the total number of link clicks. When you finally decide to choose a CPC advertisement campaign, what it means is that you will pay for Facebook ads whenever a prospect clicks on one of your ads.
Let's talk about a CPM campaign and what it means. CPM campaign means that you will pay for every 1,000 impressions that your advertisement will get. In other words, it means that you will pay for the number of times that your ad is viewed, and it doesn't matter if your prospects click or engage with your content or not. You will still be charged if even your target audience only views it for a few seconds while scrolling through their feeds.
CPC VERSUS CPM
WHICH OF THEM IS EASIER TO MONITOR?
Opting for either CPC or CPM as your primary Facebook campaign that you want to succeed with is purely dependent on the primary purpose of the campaign. If you aim to create more awareness for your brand and top-of-funnel members, you should go for CPM because it's easier to monitor and yield better results. But if your brand aims for conversion and lower-funnel users, then you should go for CPC. The overall aim of each campaign should be to drive more clicks to your website without having to continually pay a considerable amount of money for each of those clicks. So, if you want to avoid wasting money while getting the best, you first know what you aim to achieve with each campaign and then choose the best metric between the CPC and CPM that will help you achieve it.
TIPS ON HOW YOU CAN REDUCE YOUR FACEBOOK ADS CPC
Reducing customer acquisition costs is one of the best tactics that you can use to increase profitability for your brand. Below are seven procedures that will help you reduce the cost of your Facebook Ad CPC.
Explore with different ad campaign objectives This method is one of the most useful tools to succeed with a Facebook PPC Ad campaign. With this strategy, you can consistently lower the cost of your CPC through the conversion objective. Still, when you notice a low funnel conversion in leads or purchases, you can switch things up a bit while maintaining all the valuable historical data that has to be of good use to you. It's the ultimate guide that will set your brand up for future tests and success.
Ensure you optimize your ad targeting For you to successfully optimize the CPC of your Facebook ad campaign, you will be required to come up with a highly targeted strategy. Instead of leaving Facebook to choose your target audience for you, you should do so yourself to select those that best suit your brand. You can decide to segment your prospects and then create ads that focus their attention on the needs of these prospects. Once it's done, you will find it easier to allocate the proper funds to get you the desired result. This strategy will come in handy when running several ads and don't want your target audience to become overdosed on your content. Targeting an audience that is more specific with a relevant ad is a highly efficient way to optimize the CPC of your campaign. To also get a strong visual focus, use professional and high-quality photos. Such quality photos will help your ads perform better.
Cut down on overlapping target audience While building your Facebook Ads campaign, aim to keep audience overlap at its lowest minimum.
One mistake that most people, especially content marketers do is creating several ads where things are very similar except for a few factors. Doing so will not do your CPC much good.
Include enough images and videos If you want to achieve better results, you have to include an attractive photo accompanied by a creatively done description. You can also try the A/B testing to know which creative concepts will yield the best results. After trying out a series of creative, you will discover that some of them will instantly become a money-making honeypot for your brand. For the fact that most Facebook users scroll through their newsfeed aimlessly several times in a day, those creative images and videos abound to pop on either their mobile or laptop screen with just the appropriate amount of color contrast. The colors will significantly help capture their vision and increase the chances of getting them to click on your ad. For those using video, the chances are even higher because of the Autoplay feature.
Analyze your brand's estimated action rate EAR stands for estimated action rate. Remember to always focus on your desired goal (commonly clicks or conversions) whenever you have a cost-per-click campaign running on Facebook. Once you have chosen your campaign target, Facebook then steps in and uses its algorithms to display your advertisement before relevant prospects take the desired action. Your brand's EAR is also the possible estimation of your desired clicks on your ads. Adverts of high quality will always receive more actions from prospects than ads that are made casually. Try to increase the EAR for your advertisement once you're done bidding to estimate and then optimize the CPC rate of your Facebook campaign.
Don't forget the call to actions CTA stands for a call-to-action, and it's a way to entice your prospects into taking actions that will make them engage with your advertisement on Facebook. We know that it can quickly happen to get a little too descriptive with your Facebook ad to win the hearts of your prospects, but you don't have to go that far. Instead, entice them to click by simply including a strong CTA. So the big question will be, how do I get to do that? You can do that by using the 'tell a story' technique but don't forget to include suspense around the story. Another technique to win your target audience is to address some of the challenges that they are facing. You can tell them that they will learn tips and strategies to help them solve their difficulties when they click on your ad. But ensure you live up to expectations.
Focus on selling clicks instead of the product People often want to sell products instead of clicks because they believe it's the way to keep them in business. But it would be best if you learned how to think outside the box, so you should learn how to sell more clicks alongside your brand product. While running your ad, you can also highlight some of your prospects' benefits by patronizing your brand. You can also sparkle their level of curiosity by revealing a few advantages and then as them to visit your page or website to find out the rest of it.
CONCLUSION To optimize CPC on Facebook ad campaigns and other forms of advertising, you will need to have an in-depth understanding of your target audience; you will also need to empathize with them. Apply these strategies and rake in leads without breaking the bank and then thank us later.