Techniques to Reduce Facebook Ads Spend
11 May 2021
Facebook has evolved from a social network into an innovative marketing platform for businesses across all sectors. With over 44 million users in the UK alone, Facebook offers incredible advertising opportunities for companies and brands looking to promote products and services and generate leads. In this guide, we’ll explore some effective techniques to reduce spending on Facebook Ads while improving results.
Ways to reduce Facebook Ads spend
Facebook Ads can be a cost-effective solution for businesses of all sizes and scales. Statistics published by HubSpot suggest that the average cost-per-click (CPC) in the UK is currently around £0.78. When utilising Facebook Ads to create and convert leads, it’s essential to try to maximise value. Here are some tips to help you lower spending, generate more leads and boost sales.
1. Define and target an ideal buyer
The primary aim of Facebook advertising is to encourage people to interact with your advert and take the next step in the sales funnel. You can increase your chances of achieving this goal by defining and targeting your ideal buyer. Use Facebook’s tools to target specific audiences. By doing this, you can ensure that your adverts are visible to users who have a genuine interest in your business and boost your chances of beating competitors. Use metrics like demographics and interests to reach those who are likely to want to hear about your brand and respond to your adverts. If you target a broad spectrum of users, you may end up paying for adverts that have little chance of persuading the audience to take action.
2. Make use of the Overlap tool
In many cases, when you analyse your audience, you’ll notice overlapping. Some users will tick several boxes in terms of their interests, their age, their gender or their location, for example. If you use the Overlap tool, you can eliminate the risk of bidding against yourself to target a specific audience.
3. Carry out testing
Details, which may seem minor, can have a significant influence on the efficacy and impact of Facebook adverts. Carrying out testing is an excellent way of evaluating the effects of different creative decisions. Test different headings, images and calls to action to see which combinations resonate with your audience and which have the greatest impact. By focusing on adverts that provoke reactions and positive responses, you can reduce spending at the same time as increasing interaction.
4. Use retargeting
Retargeting is a method, which encourages people who have expressed an interest or engaged with an advert or with a business website to take further action. Facebook retargeting helps brands to reach high-quality leads and remind them about their company, their offers and the adverts they are running.
5. Freshen up your ad content
Adverts are designed to capture the imagination and trigger a positive response, which makes people want to sign up, click, buy or follow. Fresh, engaging content is critical to keep people interested and prevent ad fatigue. Even the most dedicated, enthusiastic follower may tire of seeing the same adverts time and time again. Keep things original, updating and modifying your content and creative input every couple of weeks.
Facebook Ads can be an incredibly effective means of generating leads, promoting products and services and reaching out to audiences, which might not be familiar with your brand or business. The aim of advertising on Facebook is to use ads to attract attention and to achieve high conversion rates without breaking the bank. If you are looking to lower spending and improve results, it’s essential to define and target a specific audience, take advantage of tools like retargeting and Facebook Overlap, test different creative options and combinations and share fresh, interesting, captivating content.