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Facebook Advertising tips and strategies – How To Avoid 5 Facebook Ad Budget Busters
Facebook advertising is easily one of the most efficient, cost-effective, results producing marketing tools available today, and you can achieve amazing results with budgets ranging anywhere from a dollar a day up to many thousand dollars a day. But regardless of the size of your budget, you want to do your best to protect it and ensure it’s being spent wisely.
So in this episode I’m going to cover 5 Facebook Advertising Budget Busters, so you can be sure you’re getting the most value out of your marketing dollars.
Advertising on Facebook is a marketers dream. With so many ways to engage and interact with your target market it’s quickly become my go to marketing tool for almost all of my clients.
The key then is to ensure that you’re getting the most bang for your buck by optimizing your campaign and maximizing your budget.
So here are 5 great ways to protect your investment, and ensure you’re set up for success.
1. Choose the right objective
When it comes to choosing the right objective for your campaign the number one rule is: “Don’t try to outsmart Facebook”. The Facebook algorithm over the years has become incredibly smart at knowing its users, which currently stand around 1.6 Billion monthly users, and Facebook has also teamed up with other third party data providers to gain even more insight into the interests and behaviors of its users.
2. Use automatic bidding
Unless you know EXACTLY what a click is worth to you, let Facebook optimize your micro level bidding. You can, and should, still set your overall campaign and daily budgets, but in regards to specific user actions you will normally get the best returns by leaving the micro level specific bidding adjustments to the Facebook algorithm.
3. Track and monitor everything
The fastest way to waste money on Facebook is to “set it and forget it”. For cost effective, high converting, and positive ROI producing campaigns, you want to be sure to track and monitor every part of your campaign every step of the way. This way you’ll quickly be able to cut lower performing ads, and redirect your budget to the winners and those producing the best results for the lowest cost.
4. Focus on the image/video
80% of your ads success will come down to the image or video you select. This is because Facebook is largely a visual platform and your opportunity to “stop the scroll” (ie the motion of a user quickly thumbing through their newsfeed) is limited to a second or two at most.
5. Have a plan
Successful Facebook advertising campaigns are the result of well-designed strategies.
Before diving into any new Facebook advertising campaign be sure that you have a well thought out strategy to help introduce your company to new clients, invite them to learn more, and convert them into buyers.
Have any other tips to maximize your Facebook advertising budget?
I’d love to hear them so be sure to share them in the comments section below.