For the last decade, Facebook has been the largest social media site worldwide, with 2.91 billion people using it every month (Hootsuite 2022). Around 36.8% of the world population are Facebook users (Hootsuite 2022). By and large, the popularity of Facebook makes it an attractive channel for marketers. It was shown that Facebook is a useful channel to attract, to inform, to convert, and to engage customers.
As an ordinary social media user, you may notice that there are more and more ‘Sponsored Content’ on Facebook. It is because 92% of social marketers are using Facebook for advertisement according to Invesp study (Invesp 2022). In this blog, I will show you how to create a Facebook campaign with high lead and minimal cost in this crowded market.
What is average cost per click on Facebook?
Before getting started, you may wonder what the average cost per click on Facebook is. Is €0.05 cost per click is a good performance? The answer is ABSOLUTELY YES. According to Hootsuite survey, the average Facebook cost per click in 2021 is $0.43 (approximately €0.41), 88% higher than the number we are aiming at. Therefore, if your cost per click is €0.05 or anywhere below €0.1, congratulations! Figure 1 shows examples of a few Facebook campaigns launched by me.
Even if we compared the number in question with the average Facebook cost per click in 2020 (i.e. $0.38), CPC of €0.05 is still a great achievement. Now let us explore steps in creating an efficient Facebook advertisement given the ‘Consideration’ campaign objective.
Step 1: Select ‘Buying Type’ and ‘Campaign Objective’
Buying type is the method by which you pay for and target ads in your campaigns: either through dynamic auction bidding, fixed-price bidding or reach and frequency buying. Select Auction (see Figure 2) because it will allow your ads to bid in the market auction, thus costing lower if your advertisement has high quality.
Campaign objective is the result you want to achieve at the end of the promotion period. In this step, you should reflect on the marketing goals or the objective of project in question. In the example above, I selected Traffic given the Consideration campaign objective.
Step 2: Select Method of Optimisation and Delivery
Optimisation for ad delivery means the event you want to optimise for in your ad set. Facebook gives you four options: Landing page views, Link clicks, Impression, and Daily unique reach. Here, you should again reflect on the outcomes you want to achieve when your Facebook campaign ends. In Ads Manager platform, you can also read what each option works in reality. Very convenient, isn’t it? In this example, I selected Link clicks as optimisation for ad delivery because I want to drive traffic to the company website. Notice: Remember to select Link Click (CPC) in the section When you are charged.
Step 3: Decide Budget and Schedule
The third step is very straight forward. Enter the amount of money you would like to spend on this campaign and the time period you would like to run your ads. Based on my experience, unlike Twitter, Facebook will make sure to spend all your budget by the end of your ads. Therefore, I highly recommend you to keep track of your ads daily in case you noticed Facebook failed to spend your money the way you expected.
Facebook’s Ads Manager has a very useful function called Ad scheduling. You can specify the time when you would like your ads to run. I highly recommend that you refer to customer data analysis to know the time your audience are most active on Facebook.
Step 4: Define Audience
Audience is critical for any marketing campaign. So is Facebook campaign! Facebook will ask you to specify the location, age, and other characteristics of your targeted audience. In this step, I want to emphasise the importance of customer profile. You should know your targeted audience’s education background, interests, hobbies, and other characteristics that help Facebook to delivery your campaign correctly.
For example, the project for which I created the campaign aimed to find out-of-the-box solutions that harnessed Artificial Intelligence power in delivery and logistics sectors. With a market research, I learnt that the targeted audience often has educational background in ‘Information of technology (IT)’, ‘Computer science’, ‘Artificial intelligence’, ‘Robotics’, ‘Electronics and communication engineering’, ‘Machine learning’, ‘Computer science & Engineering’ and ‘Deep learning’. The audience should also have interests in ‘Innovation’, ‘Technology’, and ‘Logistics’. I entered all of these values in the People who matched section.
Step 5: Choose Placements
Placements are places you want your Facebook ads to show. If you have a video content that is compatible with all of the placements, great. Automatic placements will be suitable for your campaign. However, if you only have an image creative, you can choose Manual placements and opt in placements where the creative(s) is compatible.
Step 6: Set Up Ad
This is the final step. At this stage, Facebook will ask you to choose the format of media (e.g. single image, video, carousel, or collection) and uploaded the media accordingly. In my example, I used single image. It is worth mentioning that if you have square image, you need to update separate creative with compatible size for Stories and Reels placements. Otherwise, your creative will not show up in these placements, consequently decreasing the efficiency of your Facebook campaign.
Voilà 🎉 You have done a great job. Now, you only need to wait for Facebook review before your ads go live. Once again, remember to track your campaign daily and make adjustments in a timely manner.
Sharing is caring. If you find this blog useful, don’t forget to give me a thump up. 👍 Also let me know in the comment if you succeeded in achieving a lower CPC.