Written By: Stan Johnson
Using Facebook for business purposes has become so popular that Facebook has actually rearranged their entire site to make it more marketer-friendly. Just check out how the Sponsored Stories now appear in your news feed (also on your smart phone).
You may have already jumped on the Facebook bandwagon and have already started spending on your campaigns. Well, you’re probably spending too much. Before you keep putting money in, learn how to cut your ad costs on the site.
Simple Tips to Help You Cut Costs
Get the Proper Ad-Management Tool
Facebook’s Ad Manager is effective, but it’s not nearly as feature-rich as you’ll need in order to keep track of everything in order to cut costs. For this, you’re going to need a third-party platform. There are a few tools out there that do the job, but Qwaya seems to be the top-rated ad-management tool due to its easy-to-use, streamlined features and its knack for creating, splitting and tracking campaigns and ad analytics with ease. So get your hands on the right tool first and foremost.
Employ Detailed Targeting
The more targeted you can make your ads, the more money you’re going to save. In short, this is because you’ll have to launch fewer ads and campaigns, and you won’t have to spend nearly as much on bidding. Targeted ads receive higher CTR and bring you a much better ROI. Split up your campaign per gender and age demographics and define a narrower scope.
Use Sponsored Stories
Another way to amplify customer engagement, and in the long run give you value for money invested, is to use Sponsored Stories. They will put your ads in prime position on the site and experience much higher user engagement, meaning you’ll need fewer ads and will ultimately spend a lot less money.
A sponsored story stems from an organic story (e.g. a user liking a Facebook page, commenting on a post or checking-in somewhere), and by sponsoring that organic story the story's reach is increased and thus gets more exposure.
Launch New Ads
Using the right ad-management tool for your business Facebook ads, you will be able to launch new ads (by changing the creative aspects) with ease. When you do a lot of testing and tweaking, and also target different demographics, you will come up with ads that you know work with different parts of the population.
Carefully Track Your Costs
With the proper ad-management tool, you can track your costs and figure out what you’re doing right or wrong. For instance, you can use a third-party tool and launch more campaigns with fewer ads. After tracking the data, you can easily control your bids and find a happy medium that gives you a high CTR for a much lower cost. This is only possible when you’re using a platform that enables you to split, launch and track easily.
Using a tool like Qwaya to help you might just be the platform you need to control your costs. This ad-management software is currently available for a 14-day free trial. So you can see how it works for you before you put a penny into it.
About the Author: Stan Johnson is an online writer for Qwaya, a Facebook campaign manager tool. She enjoys writing about the latest social media marketing trends and technology.