3 Ways to Reduce Your Facebook Ad Spend with Targeting

With so many targeting options available on Facebook, it
can be difficult to know which audiences will give you the biggest bang for
your buck. Having a solid targeting strategy, optimizing your audiences, and
taking learnings from previous campaigns are key to running cost-efficient
campaign on Facebook. Here are three ways in which you can set yourself up for
success.

Pick the right
audiences.

Start with picking audiences that make sense for each
phase of the customer journey. Broad audiences based on demographic attributes
and lookalike audiences based on customer lists or website re-targeting are
great for the prospecting phase as they generate low cost per thousand
impressions, getting you the most impressions possible.

As you move customers from the prospecting to the
consideration phase, interest targeting and targeting based on customer lists
and mid-funnel website actions are efficient at reaching consideration KPIs
such as link clicks and landing page views.

Lastly, audiences based on lower funnel website actions
such as add to cart and initiate checkout are best for conversion campaigns as
you’re targeting highly qualified users that are likely to convert. Want to
learn more about targeting for each phase of the customer journey? Check out
the below Social Ad Targeting to Address
the Customer Journey articles on the Ignite blog!

Phase I: Broad
Targeting

Phase II: Qualified
Targeting

Phase III: Lead
Conversion

Phase IV: Loyalty
Targeting

Optimize your
audiences.

Further reduce costs during your campaign by pausing low
performing audiences and focusing your spend on those top performers. Prior to
evaluating your audiences, make sure your ads have collected enough data and
have completed the learning phase. During this phase, Facebook shows your ads
to different types of users to learn who is more likely to take the desired
action. Facebook recommends not making significant edits to your ad sets during
this time because it may cause the learning phase to reset prior to gathering
enough data to help you make an informed decision. After making your
optimizations, continue to monitor your campaigns regularly to ensure your
active targets are still bringing in the lowest costs and that you’re on pace
to spend your budget.

Use learnings on
future campaigns.

Once your media buy is completed, identify the top-performing
audiences and use those for upcoming campaigns for a cost-efficient start to
your buy. To prevent audience fatigue among these users, make sure to include
new targeting in the mix so that you’re reaching new users.

The key to reducing costs on Facebook is strategically picking your audiences, optimizing your buys, and using your learnings for future campaigns. Interested in running a full-funnel social campaign that uses these targeting tactics? Contact us today. 

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