By Cassidy VanSlyke, Account Manager at SocialKaty, Inc.
Social Media Account Managers spend a significant amount of time each week managing multiple Facebook advertising accounts. Results are not always immediate, and prove to be a continuous learning experience. Over the past month, I’ve had the opportunity to partner-up with a Facebook Ads rep and gathered some of the most helpful tips and “Ah-hah” moments that I experienced.
1) Why is my “Cost Per Like” so high?
A higher cost per like is caused by heavy competition. For example, when creating ads in certain areas where competition is lower, your CPL will be much lower. I personally noticed that because the United Kingdom has more competitors than say, Zimbabwe and Africa, my CPL was much higher. You’ll also observe that during the holiday season, CPL is especially high when everyone is promoting.
2) What exactly does the # Hashtag symbolize in precise targeting?
Any topic marked with “#” includes anyone conversing about that exact topic on Facebook. For example, “dancing” includes people who are interested in “dancing” and other things related to dancing. I also noted that it is a great idea to include competitors when expanding your precise interest audience. Let’s say you are creating ads for a fast food hamburger joint, try targeting #McDonalds #Wendy’s #Burger King etc.
3) How can I control the cost of my Ads?
Allowing Facebook to automatically optimize your ads can save you a lot of time. Although, it might be a good idea to manual bid for ads, especially if your ad is sending users off of Facebook. Try bidding 22 - 25% above Facebook’s max suggested bid for typically pricier ads. This means that while you are unlikely to pay this much for clicks or impressions, you could pay up to it.