Spending money on paid advertising can be beneficial to your business, but without the right guidance and no notable return, it can also become a significant burden. Luckily, there are ways to handle your marketing for social media to reduce your advertising budget without sacrificing impressions!
Why is Facebook advertising worthwhile?
Before we dive into the ‘how’, it’s always wise to look at the ‘why’. The rising costs of online advertising have made many businesses ponder whether putting money into Facebook advertising is worth it, and in short – yes, it is. When you do it correctly, that is…
There is no denying that Facebook is the largest social media platform around, which means it gives your business the best chance of reaching your target audience.
How do I reduce my ad spend?
1. Restructure your ‘Facebook Ads’ process
Since removing off-Facebook user tracking, digital marketers have had to get creative with the way user data is used to yield better results from ad campaigns. This includes doing thorough research around which of your posts outperform your competitors’ and are in accordance with your campaign goals.
2. Refining your Marketing Structure
Understanding where you may be losing potential clients with your current paid advertising is crucial for compiling a flawless and successful marketing strategy. Unfortunately, whilst Facebook can track and report on the actions of users on their platform, they won’t be able to provide much intel further than this.
For example, Facebook can report whether an individual has clicked off from their platform onto your links, but not what they do on your landing page. As a result, if you are receiving link clicks but not receiving leads or conversions, it may be a result of an issue on your landing link.
3. Refresh your visuals!
The image or video you use alongside your main ad copy should be updated regularly. This is beneficial in the eyes of the Facebook algorithm, as it favours newer items and will be more eye-catching to users as a new visual will stand out in their feed.
4. Retest ad components…
Finding the sweet spot for your ad campaigns will take trial and error. Testing and retesting various headlines, imagery and formats alongside one another will help you define which combination was the most appealing to your target audience. This can be done through Facebook’s A/B Testing feature, through dynamic ad layouts or by building custom campaigns.