2019 will be another very profitable year for Facebook. According to a study by Buffer, 93.7% of companies use Facebook as the main channel for their marketing …
This number also means that competition between advertisers will become increasingly fierce. In addition, the prices of Facebook ads will certainly increase.
This is why it is very important to optimize your advertising budget in 2019. In this article, you will discover 5 elements to take into account to optimize and ultimately pay less for your Facebook advertising.
1. Choose the right targeting
The most important thing in the whole marketing process (it applies not only to advertising) is to analyze who your customer really is.
Often, companies that try to advertise Facebook target audience to interest. Sometimes when you look at the number of interests that Facebook has and ranks users, you’re tempted to make the most of them. We tell ourselves that ultimately, if we choose a lot of targets, we are more likely to convert more users.
Unfortunately, it doesn’t always work that way and interest targeting may not be precise enough, especially when you choose audiences that are really very broad, so very general. In addition, the interests may overlap between them. Such advertising can therefore cost us more (because we compete with ourselves).
The best form of targeting is to use our data, already collected from our customers. If you have the website, you have to install the pixel there. After a while, all the traffic from our site can be used in our advertising in the form of:
- Similar hearings.
These two forms of targeting are the most powerful on the platform since they are much more precise. Thanks to remarketing, you will show your Facebook Ad to a “hot” audience, the one who already knows your product. Logically, we are more likely to buy a product already seen and known than the one we are seeing for the first time.
The similar audience, alias lookalike, is “cold” audiences, but usually more accurate than interest-based audiences.
Because we let Facebook analyze the data from our website, emails, people who have signed up on our professional page, etc. so that he chooses the most similar users. Believe me, the platform is very powerful in data analysis and the audiences created are of very good quality.
However, if you are just starting your adventure with Facebook Ads and you do not yet have data to use by the platform, don’t miss out on a deep analysis of your audience.
Here too, Facebook comes to your rescue. Zuckerberg has created a (free) audience analysis tool: Facebook Audience Insight.
It lets you see, among other things, interests, demographics, but also the devices where your fans are most active.
As a result, you can tailor your message perfectly to your target audience and maximize your advertising budget.
2. Choose a placement
In the ad manager, there is a place where you can choose where you want to place your ad. Facebook will automatically choose all the placements for you and then optimize your advertising based on the best results.
To maximize your advertising budget and not waste your money, it is better to choose the second option and change the placements.
This is especially important when our goal is not only to gain visibility or notoriety. When we want to have more likes, comments or clicks on the link, it is better to decide between our investments.
Despite everything we can read, Facebook will strive to find the cheapest investments to achieve the best performance. This does not mean that the “performance” in question will meet our expectations.
Let me explain.
Facebook optimizes ads based on activity. The activity for him is clicks and not necessarily comments.
However, if our objective was to gain the maximum of likes or comments under a Facebook post, do not choose to place it on Instagram, because you will waste your money. Just make the activity cheaper on Instagram for the advertising platform to send all the traffic on that platform.
You’re going to have a lot of likes or clicks under an Instagram post when your goal was to promote a post on Facebook …
This is particularly important when we don’t have a lot of budget to allocate to our promotion. Instead of letting Facebook tie our money, test and then optimize. It is better to choose one or two strategic investments for us.
3. Maximize likes and comments
As you probably already know, the Facebook algorithm has changed.
In his press release, Zuckerberg said that the platform will now favor more engaging content.
So, posts that garner a lot of “likes” and comments will appear to more people. The goal is to tailor content to users. The platform considers that a post that receives a lot of commitments appeals to users so it can be shown to a larger number of people. Its reach will increase.
This factor is not without significance for advertisements. You must have probably seen an indicator called “relevance index” in your ad manager. Indicator that measures the relevance of your advertising to the public. The higher the number, the less you pay.
Be aware that the number of likes and comments will strongly influence the price of your advertising. The more people interact with your advertising, the more the platform will consider your advertising relevant, the cheaper it will be.
An interesting strategy would therefore be to run a publication that has received a lot of commitments, in advertising.
You just have to choose it in the “format” part in the ad manager.
4. Monitor and add your ads based on the results
If there’s one of the biggest mistakes in Facebook advertising, one mistake that can cost you dearly is not to ANALYZE your results and not to adjust advertising based on these results.
Facebook’s advertising platform provides us with a lot of indicators that allow us to analyze our campaign in great detail. This is very important, because sometimes it only takes a few tweaks for our campaign to improve.
Instead, many tend to deactivate their page and create again. This is not very productive and does not really allow us to think about our advertising when the indicators can tell us a lot about the campaign in progress.
- If the click-through rate on the link is not high enough, you may need to add (or change the button) a “call to action”;
- If we see a lot of clicks, but few people finally viewing the page, it probably means that the site loads too slowly and people give up before landing on the web page;
- If our “performance indicator” is low, there is probably a problem with our targeting that would not be suitable;
- If your “reach” is not increasing, you are probably having a problem with too little budget or too limited targeting;
- And so on…
You can monitor your campaigns in the ad manager by customizing the columns most relevant to your goal.
Don’t forget to take it step by step. Start with a relatively small amount of money and gradually increase it until you find the optimal and operational solution.
The rule is quite simple: if the campaign does not work after spending 200 euros, it will not work if you spend 2000 euros on it.
So try using another solution that works better, then gradually increase your budget once you see that it works.
Remember not to do it too quickly. It is best to increase your campaign budget by 20 – 30% every day, until you find the optimal amount.
Facebook’s advertising platform is very complex. Indeed, there is no middle ground and each campaign is different. It will depend greatly on your business, the product sold, but also on your offer. However, feel free to test the methods I mentioned above. They will certainly help your campaign to perform better.
P.S.: If you are a fan of Facebook advertising and want to learn tips from the pro, I invite you to download my freeist of 10 effective targeting tips in Facebook advertising. To download it, just click here.