Here are a few techniques that you can save money using Facebook advertising:
1. Use the cost per impression setting vs. the cost per click setting
You should pay less in advertising costs when using the cost per impression setting so long as you are getting a very good click through rate.
2. Direct your clicks to your Facebook page
If you direct your clicks to your Facebook page rather than to your external website, your cpc will likely be more cost-effective. The one thing that you still have to do will be to make certain your Facebook page is set up just like your website in that you can have visitors sign up to your list and you are also set up to send them through your sales funnel.
3. Only keep your ads active for a day or two
When you first start your Facebook advertising, you receive most of your clicks on the first or second day. Your audience gets used to seeing your ads over the next few days and they don’t click on them as often. What you need to do would be to modify your ads every other day with new headlines and new images. That way, you should keep the interest of your audience. Produce enough of these variations for up to 1 month or so and after that begin again with the first ad and continue rotating the remaining through in a cycle. You’ll be creating a sequence of ads rather then only one ad. Almost like split-testing. This way, your ads don’t get stale plus your target market will stay interested in what you are advertising.
Keep track of which ads are performing the best and once you have cycled through your series, keep the ones that did the best and run them again. Keep adding to the series with different headlines, different photos and different ad text. You would like to keep your cpc down under $.30 per click.
4. How do you know if you are making or losing money?
To ascertain just how much money you are making or losing using Facebook advertising, it is important for you to track everything. You have to track the cost per click, the click through rate, and what percentage of those clicks are subscribing to your fan page or turning into leads by visiting your website. In addition you have to have an efficient sales funnel created when capturing your leads. You could really have the ideal click through rate and you may be generating leads, but if no one is buying anything, you will be losing money.
Adverting on Facebook can be considerably more rewarding than Google AdWords. The kind of advertising that you do on Facebook, which is basically a soft-sell approach, works very well on Facebook. This type of strategy won’t work well on Google AdWords. And, the cost per click would be much more on Google AdWords than on Facebook.
These are just a few strategies that you can save money when advertising on Facebook versus advertising with Google AdWords. Just remember, when using these strategies, track everything that you are able to to help you determine simply how much money you’re making using Facebook advertising.
If you want to learn more about using Facebook advertising, download my free Facebook Guide here. Visit my web site at http://workonlinesuccess.com