34 cents per click is a nice price, especially considering the laser-targeting provided by Facebook. In fact the fine targeting contributes to a good cost-per-click ( CPC ).
Here’s one of our recent campaigns that’s been running at 37 cents per click …
It’s to people who are interested in camping in the Sydney area. There are certain things that we’ve found keep the CPCs down, but more on that soon.
We’ve mostly used Facebook for our advertising the last year. For a few reasons …
- The ability to target the exact people who'd be your best customers is way above any other advertising platform.
- Did you know that Facebook has almost 1.4 billion active users in Jan 2015 ? ( source Statista.com ).
- The cost-per-click ( CPC ) can be way cheaper than for Adwords and Linked in. We like the cheaper CPC, but have found there are things you need to do to get them, or you can still end-up paying over a dollar ( or two ) per click.
The main guiding rule to a low CPC is get the click-through-rate ( CTR ) up high, as fast as possible.
So do this …
- Select Clicks to Website when you first set up the ad.
- Target a small audience - about 300,000 to 700,000 people. Not above 1 million. You want a highly targeted bunch of people anyway, so narrow your prospects down with interests, an age range and smaller geographic area.
- Choose automatic bid pricing ( optimised cost-per-click ).
- Make sure the ad image stands out. Our ad uses a good, solid colour.
- Run it in the Desktop News Feed. Mobile news feeds can get you good CTR as well, but we've found that when people get to our website, not nearly as many take action.
- Start the ad running with a larger budget. Even if you're going to spend $10 a day or less later on, start much higher until you get a reach of a few hundred, then cut it back.
When do you kill an ad ?
Ads that start off with a high CTR drop down over time. It can be a short time or longer one, but people get used to seeing the ad or something similar, and the audience stops clicking.
I usually pause an add for a week or two after any sizeable drop and try it again later. 0.8% is as low as I ever go before killing an ad.
A New Metric !
Just yesterday there was a new metric added to my Facebook Ads Manager 🙂 a Relevance Score.
By the looks of it, it’s a great way to get a fast/ early estimate if you’re going to achieve the lower CPC. This is what Facebook say about it …