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3 Easy Ways You Can Lower Your Facebook Ads Budget

There are plenty of Facebook Ads marketers in the world. Many who are reporting conversion costs of anywhere from a few cents to a fraction of a penny. Others aren’t so lucky. In fact, most inexperienced marketers are reporting quite the opposite and are getting burned due to astronomical ad costs.

Now there are plenty of factors that come into play when talking about Facebook ad costs. But obviously, before you even get started you should have some sort of budget in mind (unless you have an unlimited supply of money).

Video: Facebook Ads on $5 a Day...

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Here are three ways you can lower your Facebook ads budget:

1. Know your target audience

Ideally, you should already have an idea of who’s going to be interested in your product or service. Whether you are a first-time entrepreneur or a battle-hardened businessman, you must know who your target audience is. Is your product geared towards women or men? Are you targeting young professionals or travelers?

Knowing your target audience will help lower your ad budget because there’s a higher probability these people are going to be interested in what you have to offer. Targeting an audience who doesn’t fit your ideal user will lead to higher ad costs because they won’t be paying your ad any attention.

2. Set a bid cap

You can set a daily or lifetime budget for your Facebook ads. But did you know you can also set a bid cap? If you didn’t know before, well now you do. A bid cap is like what the name suggests – Facebook will put a cap on your bid. So, for example, if you can only afford to pay $0.5 per click, then you can put that amount as your bid cap. Otherwise, Facebook may charge you $1 per click, or more, depending on the competition. A bid cap helps ensure you don’t go beyond your budget.

3. Don’t advertise around the holidays

During holidays, people tend to buy a lot of things online. This buying frenzy drives marketers and businesses to create Facebook ads to get buyers’ attention which in turn drives up the advertising costs for everyone. So if you don’t want to compete with many other businesses, it’s best to not advertise during peak seasons like Black Friday, Cyber Monday, Christmas, Thanksgiving, and other important holidays. There are 365 days in a year – you can always advertise before or after the buying season to help lower your ad spend.

Steven
 

Steve is the founder and CEO of Gel Digital Marketing,LLC. He is an experienced business professional and a seasoned online entrepreneur. He Provides turnkey white label SEO and digital marketing services to solopreneurs and small business alike. He offers SEO, PPC, Social Media, Blogging, Affiliate Marketing training and Web Design services and can be contacted at steve@geldigitalmarketing.com

  • Lace says:

    Loving these simple practical tips on how to reduce Facebook ad costs.

    Not advertising around holidays is a great one, Facebook must make a mint off advertising at such times of the year! Definitely baring this one in mind.

    Thanks Steve, I learn something from you all the time.

    • Steve says:

      Facebook is a valuable advertising resource but if not used properly can cost online marketers an arm and a leg. This training will run at least 10 parts so please stay tuned!

  • Joanne says:

    Thank you this is helpful, and has taught me a lot that I didn’t already know about the advertising side of things! It is a daunting area for me, so I am particularly happy to hear about the cap! Thanks for another interesting article.

    • Steven says:

      Hi Joanne!

      Having a social media advertising campaign is crucial to a successful online business. I think the traffic that can be generated by Facebook, Instagram, Pinterest, etc can grow a business faster than most ways of advertising. I would seriously consider a social media plan for 2019! Thanks for stopping by!

      Steve

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