Instagram estimates that 500 million of its users use the social media platform’s story feature…
It’s well known that Facebook advertising is one of the best ways to reach highly targeted populations, making it a worthwhile investment if planned properly. However, done haphazardly, Facebook ads can quickly become expensive, minimizing their value compared to other PPC campaigns. In this post, we outline several effective strategies to reduce facebook ad spend and make the most out of social media advertising.
Determine Your Strongest Goal
Key to any marketing campaign is clarity about your goal and target audience. The same is true of Facebook advertisements: know who you’re trying to reach, what value proposition will resonate with them best, and critically, why Facebook is the best avenue to reach that particular audience. By narrowing down your strongest goal you can then target more specific ads which will help reduce Facebook ad cost. Once you have the ads posted you will need to carefully track conversions among this demographic to ensure that you’re moving successfully toward that goal.
Critically Evaluate Your Message
Once you’ve narrowed in on a specific, achievable goal, be ruthless in editing your message. If it isn’t unique and relevant to a narrow target audience, you’re spending money on a suboptimal advertisement rather than reducing Facebook ad spending like you want. Like goal-setting, evaluating your message should be an ongoing process of analysis and refinement to make sure you are always targeting the best audience.
Overlap Audiences When Possible
It’s easy to go overboard with Facebook’s hyper-specific targeting criteria. Think strategically about your target audiences are and find ways to combine groups that should respond to similar messaging rather than creating unnecessary campaigns. By overlapping audiences as much as possible you can hit two birds with one stone, therefore reducing your Facebook ad spend.
Retarget Engaged Consumers
Who’s more likely to purchase from your brand: someone who’s previously visited your website, or someone who’s never heard of you? Obviously, it’s easier to re-engage a customer than to convince a brand new one, and you should take advantage of this. Targeting warm audiences who are more likely to convert (or re-convert) is an excellent way to maximize the value of your ad spend and reduce the Facebook ad cost.
Seek Professional Advice
Finally, don’t discount professional marketing consultants. At SocialSEO, we’ve established ourselves as a premier digital marketing firm, and we have the extensive industry experience necessary to optimize your social media marketing budget. To learn more about our services, contact us and tell us about your goals.