What is cost-per-click advertising on Facebook?

What is a good cost-per-click on Facebook?

7 tips to lower your cost-per-click on Facebook ads

Did you know that running cost-per-click ad campaigns on Facebook enables your business to reach a potential audience of 2.11 billion people?

This is true; Facebook is alive and kicking! Now under the umbrella of Meta, Facebook cost-per-click advertising has long been a trusted growth strategy when combined with organic content.

Knowledgeable marketers know to keep an eye on the bottom line and look for ways to monetize businesses. Lowering your Facebook cost-per-click (CPC) is one way to do this, so read up on tips on lowering your CPC and understanding how to get the most out of your ad campaigns on Facebook.

What is cost-per-click advertising on Facebook?

Facebook cost-per-click advertising is an auction-based marketing strategy in which businesses bid to show their ads to a predetermined audience. However, when you use CPC pricing, you only pay when a Facebook user clicks on your ad.

For example, if you’re a fashion brand, you could launch a Facebook cost-per-click campaign to promote your latest product and add a call-to-action (CTA) that encourages users to click and shop your latest collection.

Thousands of businesses use Facebook advertising to grow; This is part of the reason why an auction and bid-based strategy is used for Facebook ads.

With limited ad spots on the platform, Facebook considers various factors such as the total value of the ad, its quality, and estimated action rates (for example, whether users will engage with the ad) to determine which ad to show to a specific audience.

Facebook CPC is calculated by dividing the total amount spent by the number of link clicks, and there are several different cost-per-click campaigns you can run on the platform. Let’s have a look.

Clicks to visit another website

It’s pretty simple. CPC campaigns that increase clicks to a website allow businesses to get more traffic; It’s a great strategy if you’re just starting out and need more attention to your product or service.

Call-to-action clicks to another website (e.g. “Shop Now”)

Adding a specific call to action to your CPC campaigns is a method marketers use to persuade their audience to click on a website or landing page. Common calls-to-action include phrases such as “learn more”, “buy now” or “request offer”.

Notice how these micro-phrases always contain an action word. Using language like this inspires user action, which means more clicks for your campaign.

Clicks to install an app

This campaign is ideal for businesses that want to generate interest and install an app. For example, let’s say your fashion brand launches a new iOS app that gives your audience a chance to shop through the app. You can run a CPC campaign that focuses on generating clicks to install the app.

Clicks to view a video on another website

Video marketing is taking social media by storm (hello, TikTok!), so why not harness the power of video in your CPC campaigns? Using our fashion brand example, you could launch a cost-per-click campaign that encourages your audience to watch a YouTube video about your sustainability practices and how much you care about the future of the environment.

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What is a good cost-per-click on Facebook?

Now that you know how to use cost-per-click advertising on Facebook, you’re probably wondering how CPC campaigns will impact your marketing budget. Luckily, we’ve worked out with our friends at AdEspresso how much Facebook ads cost, and we have all the details you need.

Cost per click by month

In a monthly view, it’s common to see a typical range of low CPCs in Q1 to high CPCs of the year in Q4. This year-end increase was driven by Black Friday/Cyber ​​Monday events, holiday shopping and increased e-commerce advertiser competition.

Cost per click by day of the week

Because more people use social media on Saturdays and Sundays, there is more ad space, Facebook CPC costs are usually lower on weekends, meaning you can win auctions at a lower bid price.

Facebook ads cost per click by day of the week in 2021

Cost per click by time of day

Not surprisingly, it costs you less to run your campaigns late at night because everyone is asleep. However, we recommend that you run your Facebook cost-per-click campaigns 24/7 and allow Facebook to maximize your clicks based on your campaign goal.

Facebook ads cost-per-click by hour in 2021

7 tips to lower your cost-per-click on Facebook ads

If you want to lower your CPC without sacrificing results, you’ve come to the right place. Each of these tips can help you lower your cost-per-click, but remember that every industry and business is different. What drives results for a team may not work for you, so play around a bit and find formulas that fit your niche and budget.

Reach your campaign goal

Creating a campaign goal is the first step in creating a Facebook ad campaign. The campaign goal focuses on the goal you want to achieve by running your ads on Facebook.

Facebook offers a full list of different goals to choose from, including building brand awareness, increasing traffic to your website, generating engagement, conversion, and driving traffic to your online store.

Depending on the goal of your ad campaign, you’ll need to match your own campaign goal with the goals offered on Facebook. Play around and test which ones give you the best results. For example, if you’re a new business starting with Facebook ads, you’ll likely focus on impressions and reach to help increase your brand awareness.

Improve your relevance score

It’s important to watch carefully, as your relevance score will directly affect your CPC.

Facebook ads provide a relevance score for each campaign you run. As the name suggests, this score shows how relevant your ad is to your target audience.

we do not know exactly the same The algorithm Facebook uses to calculate the relevance score makes it a black box metric. However, we do know that positive interactions such as engagement, clicks, and saving the ad will increase the score, while hiding the ad will lower the score.

Facebook prioritizes highly relevant ads and actually lowers your CPC if your score is higher. That’s why you should monitor your campaigns’ relevance scores and edit or stop low-scoring campaigns.

Understanding audience targeting

The main goal of a successful ad campaign on Facebook is to ensure that your ad is seen by the right audience at the right time. Understanding audience targeting can help make that happen and actively lower your CPC.

So don’t leave it up to Facebook who will see your ad. Choose location, interests, behaviors, and other demographics to be specific. Narrowing your audience helps you bid based on who you are. Really want to reach them and gives you the opportunity to create more personalized ads that grab their attention (meaning more clicks and conversions for you!)

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Think carefully about where to place your ad

Facebook ads can appear on both mobile and desktop, news feeds, right column, Instagram (another suite of products from Meta), Facebook Messenger and Facebook Audience Network.

Take some time to understand the best placement for your ad. Will you have a greater impact in the news feed or Messenger? Luckily, this is an area Facebook allows you to change after you’ve posted your ad, so if you notice your clickthrough rate is low, go ahead and change the ad placement.

Test your ad creative

Testing and iterating through the creative elements of your ad is another tactical way to lower your cost-per-click. By A/B testing your Facebook ads, you open the door to find out which ad creative meets your campaign goals.

DTC Newsletter CEO Eric Dyck says his team is focused on speed when it comes to testing. “The most important aspect of ad testing is speed, which means testing multiple creatives every week or every day depending on your budget. The goal is to find the ‘winners’ or ads that will allow you to scale your campaigns profitably until the creative runs out, so always test you must.

The testing framework we use is the Pilot Test, which involves brainstorming five different aspects of the product. Angles are advertising concepts built around why a customer might love your product or a problem or hotspot that your product solves.

With your angles you also create five related headlines, ad copy, and creative images or video. Then, you run creative ad sets head-to-head and see which ones provide the lowest cost-per-click. From there, you can mix and match the winning elements from each ad set to create winning ads with lower cost-per-click and higher conversion rates.”

Increase your click through rate (CTR)

news flash! Increasing your clickthrough rate (CTR) will increase your relevance score and lower your Facebook advertising costs. Here are some of the best ways to increase your ads’ CTRs:

  • Always use desktop newsfeed ad placements that deliver higher CTRs
  • Use the appropriate CTA buttons. “Learn More” sometimes gets more clicks than “Shop Now” for cold audiences who don’t trust you yet.
  • Write simple, clean text that gets straight to the point and doesn’t let users guess what they clicked or why they should click. (Here are a few examples to get the creative energy flowing!)
  • Keep your frequency (or the number of times the same user sees the same ad) as low as possible. If the frequency gets too high, your CTR will drop.

Focus on retargeting

Retargeting is the practice of showing your ads to people who are familiar with your brand and products. Because this is a “hot” audience, they will be more likely to engage with or click on your ad, which will increase CTRs and lower CPC.

You can create custom audiences from people who have interacted with your Facebook Page, site and mobile app.

You can even use retargeting to send a follow-up ad to users who have already watched most of your video ad shown to a cold audience; this increases their likelihood of clicking because they are somewhat familiar with your CPC. advert

You can also use custom audiences in your email list for retargeting. Whether you’re showing ads to users based on their past purchases or past interactions with your site, you’ll know your relationship with them upfront. This can help you create ads and offers that they will be most interested in.

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