Advertisements, particularly Facebook ads, are undoubtedly crucial in social media marketing. Digital marketers can reach out to any target group on the platform, which has an average of 1.9 billion daily active users and all levels of buyers and sellers. 

However, if your Facebook advertisements aren’t strategically optimized for a low CPC, you can end up spending more than you planned. Ad optimization, regardless of the size of your company, is essential for lowering expenses and increasing ROI.  

Here are 5 easy strategies to save money on Facebook ads :

1. Evaluate the relevance score

Every campaign that is run on Facebook generates a relevance score. This score displays the ad’s relevance to the target audience and has a direct impact on your CPC, therefore it’s essential to consider and analyse it.

While the specific mechanism used to determine the relevancy score is unknown, positive interactions like clicks, engagement, and saves improve your score, whilst acts like hiding the ad decreases it.

Facebook prioritizes advertising with a high relevance score, resulting in a considerable savings in CPC. Keep track of your ad campaigns’ scores and make improvements or pause advertisements that continue to receive low scores.

2. Aim for a higher CTR.

A greater Click Through Rate (CTR) could naturally result in a higher relevancy score, lowering the cost of your adverts.

Here are some suggestions for increasing the Click Through Rate (CTR) of your Facebook ads:

• CTR is always higher in desktop newsfeed ad placements.
• Your ad’s CTA button should be highly relevant and encourage users to click it. 
• If there are target audiences who have not been able to fully trust your business, a Learn More CTA button may yield better results than a Buy Now button.
• A clear and precise language is required so that the audience understands why they are clicking the CTA and what to expect next.
• Your ad’s frequency, or the total number of times the same audience sees the same ad, should be as low as possible. The CTR would drop as the frequency increased.

3. Make sure your campaigns are very well targeted 

Increasing your CTR by running highly targeted campaigns is the most effective approach.  The benefit of focused campaigns is that you may target a specific audience with certain needs, and your Facebook advertising can be tailored to meet their needs. If you’re advertising a pet food brand, your target audience will only be pet parents.

There are numerous targeting options available, including age, geography, gender, interests, and behavior. You can further customize the targeting with the user behavior option, such as a user’s birthday in the coming three months or a user who has recently purchased electronic items.

In this case, retargeting is a feasible solution for increasing CTR while reducing CPC. Ads that are shown to those who are already familiar with your brand have a higher probability of being clicked and engaged with.

4. Conduct A/B ad testing

If you want to keep your costs down, you should always undertake A/B testing on all Facebook advertising, even if what you’re selling looks one-of-a-kind or difficult to resist. Create many variations of the same ad campaign with various writing, graphics, and video. The headline and ad description should both be unique.

Split testing advertisements allows you to obtain insight into your target audience’s preferences, resulting in verified and logical conclusions rather than tests and gut feelings. It will also assist your company in running better-performing ad campaigns while pausing the ones that aren’t. As a result, there would be fewer visits, lower spending, and increased engagement. 

5. Advertising placements

The placement of the advertising can vary the click-through rates (CTRs) by as much as 400 percent or more, and can more than double the cost of running your ads.

It is critical to choose ad placements that are appropriate for the aim of your marketing campaign. When the goal is to download an app or make a purchase, for example, mobile advertising are more effective.

The four most important ad placement options on Facebook, as well as the purposes they can serve —

• Newsfeed ads — these ads typically have a high CTR and a cheap CPC, and they work best for viewers who are unfamiliar with your brand or items.
• Right column ads — these ads have a lower conversion rate than newsfeed ads, but they have nearly three times more interaction and are a cost-effective way to reach a bigger audience.
• Mobile feeds have a high click-through rate and are an efficient way to raise awareness and encourage more conversations.
• Those on the marketplace are less expensive than ads on Google and are more successful at reaching people who are actively looking for something.