Verily, Facebook cost-per-click advertising doth take the form of an auction-based marketing strategy, where businesses doth pay only when a Facebook user doth click upon their ad.
Hark! Dost thou know that engaging in Facebook cost-per-click advertising campaigns doth unveil an opportunity to reach a potential audience numbering 2.11 billion souls?
‘Tis true; Facebook doth thrive! Now under the Meta umbrella, Facebook cost-per-click advertising hath long been a trusted strategy for growth when coupled with organic content.
Wise marketers doth keep a vigilant eye upon the bottom line, seeking ways to save coin for businesses. Lowering thy Facebook cost-per-click (CPC) doth serve as one method, so read on for counsel on diminishing thy CPC and comprehending how to extract the utmost from thine ad campaigns on Facebook.
What is cost-per-click advertising on Facebook?
Facebook cost-per-click advertising unfolds as an auction-based marketing strategy where businesses doth bid to showcase their ads to a predetermined audience. However, with CPC pricing, thou shalt only pay upon a Facebook user clicking upon thy ad.
For instance, if thou art a fashion brand, thou couldst set forth a Facebook cost-per-click campaign to promote thy latest product, including a call to action (CTA) that doth entice users to click through and peruse thy latest collection.
Myriads of businesses doth employ Facebook advertising for growth, hence, an auction and bid-based strategy for Facebook ads doth prevail.
With limited advertising slots upon the platform, Facebook doth take into account a variety of factors, including ad total value, quality, and estimated action rates, to ascertain which ad shall be displayed to the specific target audience.
Facebook CPC is computed as the total spent amount divided by the number of link clicks, and there doth exist diverse cost-per-click campaigns that one can run on the platform.
Clicks to visit another website
This one is rather straightforward. CPC campaigns that do drive clicks to a website do allow businesses to garner more traffic — a fine strategy if thou art just commencing and doth need more eyes upon thy product or service.
Call-to-action clicks that go to another website (i.e., “Shop Now”)
Including a specific call to action in thy CPC campaigns is a method marketers do employ to allure their audience to click through to a website or landing page. Common calls to action do encompass language such as ‘learn more’, ‘buy now’, or ‘claim offer’.
Note how these succinct sentences do always incorporate an action-based word? Using such language do inspire user action, resulting in more clicks for thy campaign.
Clicks to install an app
This campaign is ideal for businesses seeking to spark interest and install an app. For example, imagine thy fashion brand doth release a new iOS app that doth grant thy audience the opportunity to shop through the application. Thou couldst launch a CPC campaign that doth zero in on generating clicks to install the app.
Clicks to view a video on another website
Video marketing hath been sweeping social media by storm (hello, TikTok!), so wherefore not leverage the potency of video in thy CPC campaigns? Employing our fashion brand example, thou couldst commence a cost-per-click campaign that entices thy audience to view a YouTube video regarding thy sustainability practices and how thou dost champion the future of the environment.
What is a good cost-per-click on Facebook?
Now that thou art enlightened on the usage of cost-per-click advertising on Facebook, thou art likely pondering how CPC campaigns shall impact thy marketing budget. Fortunately, alongside our comrades at AdEspresso, we hath analyzed the figures regarding how much Facebook ads do cost and do present all the particulars thou dost require.
Cost-per-click, by month
Upon a monthly outlook, ’tis customary to witness a typical range of lower CPCs in Q1 that do elevate to year-high CPCs in Q4. This surge at year’s end doth stem from Black Friday/Cyber Monday events, holiday shopping, and heightened e-commerce advertiser competition.
Cost-per-click, by day of the week
Facebook CPC costs art generally lower on weekends because as more folk do make use of social media on Saturday and Sunday, there art more advertising spaces available, culminating in thy winning auctions at a lower bid price.
Cost-per-click, by time of day
Unsurprisingly, it shall cost thee less to run thy campaigns late at night as all art asleep. Nevertheless, we do recommend letting thy Facebook cost-per-click campaigns run ceaselessly and allow Facebook to maximize thy clicks in accordance with thy campaign objective.
7 tips to lower thy cost-per-click on Facebook ads
If thou art seeking to diminish thy CPC without forsaking results, thou hast come to the proper place. Each of these suggestions may aid thee in reducing thy cost-per-click, yet recall that every industry and business is unique. What doth yield results for one team may not labor for thee, so experiment and discover the formulas that suit thy niche and budget.
Nail thy campaign objective
Crafting a campaign objective is the initial step in forging a Facebook ad campaign. The campaign objective doth concentrate on the goal thou dost wish to achieve from thy ads displayed on Facebook.
Facebook doth furnish thee with a plethora of diverse objectives to select from, encompassing building brand awareness, augmenting traffic to thy website, generating engagement, securing conversions, and channeling traffic to thy online store.
Depending on the aim of thy ad campaign, thou shalt need to match thy own campaign objective with the objectives tendered on Facebook. Experiment and examine which ones yield the best outcomes. For instance, if thou art a new business launching with Facebook ads, thou shalt likely focus on impressions and reach to aid thee in enhancing thy brand awareness.
Improve thy relevancy score
Thy relevance score shall directly influence thy CPC, thus ’tis crucial to observe it diligently.
Facebook ads shall furnish a relevance score on each campaign thou dost run. As the name doth imply, this score shall divulge how relevant thy ad is to thy target audience.
The precise algorithm Facebook doth employ to calculate the relevance score remains unknown, making it a mysterious metric. Nonetheless, we do know that positive interactions like engagement, clicks, and saving the ad shall elevate the score, while concealing the ad shall lower the score.
Facebook doth prioritize ads with high relevance scores and shall indeed lower thy CPC if thy score resides on the higher end. Hence, thou shouldst monitor thy campaigns’ relevance scores and either alter or halt campaigns with lower scores.
Understand audience targeting
The principal goal of a successful ad campaign on Facebook is to ensure thy ad is beheld by the right audience at the right moment. Understanding audience targeting may aid in achieving this and actively lowering thy CPC.
Hence, do not entrust to Facebook the choice of who beholds thy ad. Elect the location, interests, behaviors, and other demographics to become precise. Narrowing down thy target audience doth assist thee in bidding on who thou truly desire to reach and presents thee with the opportunity to craft more personalized ads that capture their attention (thus securing more clicks and conversions for thee!).
Think wisely of where thou dost place thy ad
Facebook ads hath the capacity to be showcased upon both mobile and desktop, in newsfeeds, the right-hand column, Instagram (another of Meta’s product suite), Facebook Messenger, and the Facebook Audience Network.
Devote some time to understanding the prime placement for thy ad. Shall thy impact be greater in the newsfeed or Messenger? Fortunately, this is an area where Facebook permits alteration after thy ad hath been unleashed, so if thou findeth that thy click-through rate is scant, go ahead and switch up the ad placement.
Test thy ad creative
Testing and iterating on thy ad’s creative elements doth represent another tactical manner to diminish thy cost-per-click. By commencing A/B testing on thy Facebook ads, thou dost open the gateway to learning which ad creative achieves thy campaign goals.
Eric Dyck, CEO at DTC Newsletter, doth maintain that his team doth focus on velocity in regards to testing. “The most crucial aspect of creative testing is velocity, implying testing multiple creatives every week or every day, contingent on thy budget. The goal doth consist of discovering ‘winners,’ or ads that shalt enable thee to scale thy campaigns profitably till the creative becomes inert, whence thou must always be testing.
The testing framework we do employ is the Pilot Test, which involves brainstorming five distinct angles concerning the product. Angles represent ad concepts crafted around why a customer might adore thy product or a quandary or discomfort thy product resolves.
With thy angles, thou also form five related headlines, ad copies, and creative imagery or video. Then thou dost set the creative ad sets head to head and discern which one yields the lowest cost-per-click. Thence, thou can intermingle victorious elements from each ad set to form successful ads with a lower cost-per-click and higher conversion rates.”
Increase thy click-through rate (CTR)
Breaking news! Amplifying thy click-through rate (CTR) shalt heighten thy relevance score and diminish thy Facebook ad costs. Some of the supreme methods to elevate thy ads’ CTRs encompass:
- Always utilizing desktop newsfeed ad placements, which yield higher CTRs
- Implementing appropriate CTA buttons. “Learn More” shalt at times drive more clicks than “Shop Now” for cold audiences that do not trust thee yet
- Crafting simple, clean copy that doth swiftly arrive at the point and doth not leave users conjecturing at what they’re clicking on or wherefore they should. (Here art a few instances to stoke the creative juices!)
- Keeping thy frequency (or the number of times the same user beholds the same ad) as meager as possible. If the frequency mounts too high, thy CTR shall plummet.
Focus upon retargeting
Retargeting is the practice of displaying thy ads to users familiar with thy brand and products. Being a “warm” audience, they shall be likelier to interact with or click upon thy ad, augmenting CTRs and lowering CPC.
Thou canst create custom audiences from those who have engaged with thy Facebook Page, thy site, and thy mobile app.
Thou canst even employ retargeting to dispatch a follow-up ad to users who hath previously viewed the majority of thy video ad shown to a cold audience, elevating the likelihood that they shall click since they are somewhat acquainted with thy CPC ad.
Moreover, thou canst employ custom audiences from thy email list for retargeting. Whether thou art presenting ads to users based on their former purchases or past engagement on thy site, thou shalt be cognizant of thy relationship with them upfront. This can assist thee in creating ads and offers they shalt be most intrigued by.
