Four Ways to Lower Cost Per Click on Facebook
Here at Stripes, we’ve got a media team dedicated to our results-first North Star. We’re in the trenches on our campaigns daily and as a team we discuss our learnings and observations on a weekly basis. It’s effective group learning at work. We’re going to try to be better at sharing some of our media knowledge with you guys, too.
Here are a few tried and true tactics our media team has observed contribute to lowering cost per click for Facebook campaigns.
1. Use DCO (dynamic creative optimization) and CBO (campaign budget optimization)
We’ve seen both DCO and CBO help to decrease CPC individually, but have found that they’re especially effective when used together. Here’s how it works.DCO tests creative combinations by taking multiple ad components (such as images, headlines, descriptions and CTAs) and automatically generating combinations of these assets across audiences. The delivery system then optimizes for creative components that deliver efficient results for each impression served.
CBO optimizes delivery between ad sets in real time and significantly reduces overlap between ad sets and impressions served. This is particularly convenient because overlap is something media buyers have to hedge against when assigning budgets to individual ad sets. We’ve found that CBO corresponds to up to a 20% decrease in cost per click.
We’ve leveraged DCO and CBO in tandem to decrease CPC effectively for high traffic campaigns and conversion campaigns alike.
The catch is that DCO and CBO take time to gather learnings, so these are optimally implemented for campaigns with ample time to optimize. Both DCO and CBO are testing different combinations and particularly when they’re used together it can take some time to see results, typically longer than a week.
2. Leverage square images link ads
Previously the benefit of running image ads rather than link ads was that you could use different ratios outside the constricted 16:9 link ad. But, with the release of square-image link ads, there’s almost no reason to run an image ad at all. We recommend using square link ads because they take up a lot more space in the feed. You’re taking up more real estate, so there’s a higher chance that somebody’s going to see your ad, notice your ad, and click through.
We’ve tested this with a couple of different clients and have seen at least a 10% decrease in cost per click when compared to the normal 16 by 9 ratio.
3. Drop the CTA Button
We’ve run some tests, and we’ve found that CPC drops when we leave out the CTA button on our ads. Facebook offers 15 or so different options for CTA buttons that you can use on an ad. We’ve run a bunch of tests about which of the 15 offerings work best (such as “Learn More” versus “Download,” etc.) and found that the ad without the button performed the best.
Excluding a call to action button reduced the cost per click at about a 10% decrease from the next best-performing ad. We made sure that no text was truncated on either version (with and without the CTA button).
The takeaway? Ads that appear more native to users and not as much like an ad make your target audience more comfortable clicking.
4. Use bid caps — though this could limit your spend, could also lower your CPC
As long as you don’t have a minimum spend you’re trying to hit your ad set, putting a bid cap on your cost per click can help to lower it. The downside is that you also might not be able to scale as much as you want (or you need to) if you have those caps in place.
Integrate these tactics to see a lower CPC and better results on your campaigns.
And, as always, be in touch with any feedback or ideas.