Who likes to spend more money? No one.
Every marketer running a Digital Marketing campaign on Facebook wishes to generate maximum leads at minimum cost. With the cost of generating leads from Facebook ad is rising, digital marketers are now paying for cost per clicks in dollars instead of cents. And yet, there are so many factors that you don’t have control over but they are responsible for your ad campaigns’ cost and success.
Before we move ahead with the proven hacks for a lower CPL on Facebook, here are some questions that every marketer when running Digital Marketing campaign should have an answer to:
• What is your target CPL for Facebook ?
• What are your high cost consuming areas?
• On which areas you’re spending but not getting results?
Now let’s proceed to those 5 proven hacks of Digital Marketing for lower CPL and high leads:
1. Check your Facebook Ads Performance check on each device
To reach a wider audience, you may go for digital marketing your Facebook ads on multiple devices. Though this may sound good in the first place, it may not be so. Pastries look and ARE delicious but, ever counted the calories? Same applies for your marketing campaigns’ devices, choosing all devices for Digital Marketing sounds good but may be a big bang for the buck.
To analyze the worth of selecting all devices for Digital Marketing- study the performance of marketing campaigns on Facebook that are opted for all devices, segment your digital marketing ad campaigns device-wise and then evaluate the performance for each of these Digital Marketing campaigns.
Brace yourself, the results might be staggering. We’ve noted that in many cases, mobile devices eat up a lot of your Digital Marketing ad spends and give up very few leads; leading to a higher CPL. Hence, to optimize your future digital marketing campaigns for a lower CPL, evaluate your past Digital Marketing Ads performance on each device first.
2. For a lower CPL on Facebook, this surely does work- Remarketing
Instead of guesswork in your digital marketing campaign, target the ones who’ve moved down the funnel from leads to prospects. Use “Remarketing”. It is a digital marketing technique that displays your ads on Facebook to those prospects or customers that have already visited your website. They might not have converted to leads yet, i.e they might have not signed up for the membership or purchased the product; hence it is even more crucial to retarget them on Facebook via Digital Marketing. To have a lower CPL, remarketing is another trick you need to implement during your Digital Marketing Ad campaign.
For a lower CPL and high conversion ratio, segment your Digital Marketing audience in:
High-intent page visitors: the ones who visited pricing pages or bottom-of-the-funnel landing pages.
High-traffic page visitors: the ones who visit your homepage or blog pages and their purchase intent can’t be classified.
To know more about Remarketing in Digital Marketing, click here.
3. Ad Fatigue- Avoid displaying your Digital Marketing Ads to the same audience, or rather, avoid high frequency
Just like one can’t eat the same things for regularly, one can’t see the same thing regularly too. When running a digital marketing ad campaign on Facebook or in fact, any other digital platform, there are high chances of your audience seeing your Digital Marketing ad multiple times. If exposed to more often, they might get bored or annoyed with your Digital Marketing ad and start ignoring you, flushing all your Digital Marketing efforts down the toilet. More exposure-less interest.
So how do you know this Facebook disaster is about to happen?
You need to limit your Facebook audience from seeing your Digital Marketing ad too often. When you see CTR decreasing, buddy, the time has come. Your Digital Marketing ad will start becoming ineffective giving you a higher CPL instead of a lower CPL and needs to be replaced.
Also, if the Facebook users were interested in your Digital Marketing Ad, they would have taken some action in the first place itself. To avoid Ad fatigue, it is advised you have an alternate version of your Facebook ad ready to replace it with the current one..
4. Facebook video Ads- they surely require some efforts, but have proven to be worth a Digital Marketers time
Some prefer reading, but more prefer watching. Facebook video ads has shown to be most cost effective for marketers using Digital Marketing as Video Ads has 8 billion daily views. Because of such humongous views, the average CPC for Facebook ads (across all industries) is $1.86 (source); thus having a lower CPL too.
Facebook video ads are a great way to engage your Digital Marketing audience as the video keeps their attention and you have the opportunity to tell them about your business/offering. Though photos work well too during Digital Marketing, Facebook video ads improve conversions by 86%.
When running Facebook ads during your Digital Marketing campaign, your CPC (cost per click) is determined by your CTR. High CPC leads to low CTR, and a low CTR leads to high CPL. hence, Facebook video ads increases your CTR thereby giving you a lower CPL.
5. Have you analysed what’s your best performing demographic?
To have a lower CPL in Digital Marketing in Facebook, it is imperative that you know about your audience’s demographics such as gender, age, location, interests. These factors help you determine which audience group finds your Digital Marketing ads more appealing. And it’s easy to do so with Leadzpipe– the All-in-one lead generation Tool. You can sync Leadzpipe to your Facebook/Google ads with a few clicks and receive real time updates on your leads in your CRM.
These demographics also help you cut down your Digital Marketing costs massively. Specifically, you can learn in which demographics your Digital Marketing ads perform best with and then double down on that particular audience.
More leads and lower CPL, it’s difficult to get the best of both worlds; though not impossible. You need to target more specifically during your digital marketing campaigns and keep optimizing them for better results.