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How to create a successful Facebook ad? Part Three

Bidding and cost

Your Facebook ad faces two main challenges – big competition and time you spend to find the most appropriate for you approach.

Facebook marketing does not require the usage of many resources, but of course, no one wants to spend money on an advertising campaign that will lead to no return of investment (ROI).

To avoid a situation like this, except with the visual layout of the ad and its targeting, we will make you familiar with the most successful bidding options.

What are the Facebook bidding options?

When you create a Facebook ad you can choose between three main bidding options. They are:
• cost per click (CPC);
• cost per mile (CPM);
• optimized CPM.

In most cases, it is best to select the first option – cost per click, as thus Facebook will charge you only when someone clicks on your ad. Click on an ad shows a strong interest, i.e. you will pay only for those users who are most likely to become your customers.

Whichever option you choose, you must specify the maximum amount of your bid (bid) per click or per 1000 impressions.

Another thing you can do is to allow Facebook to optimize your ad for a particular action, such as „Link Clicks to Your Website”:

Regardless of the chosen option, you will need to specify the range of your offer.

If you are new to social media marketing, we advise you to start with the lowest possible amount. Thus your ad will be shown to fewer people, but they might be sufficient. And you can always change the amount with a higher one.

How much does a Facebook ad cost?

We cannot give you a specific answer to this question since advertising (and marketing as a whole) is something that has to be budgeted. We advise you not to start with large daily amounts. Do it only when you are sure that your ad campaign will be profitable.

When you create your Facebook ad, you must specify a maximum daily amount. You can start with a small amount of money, such as a few dollars/per day.

This will enable you to track the performance of your ad for several weeks and decide whether it is worth. If it does not perform well –stop it and start a new one.

You must understand one thing – most Facebook ads, at least initially, do not have big success.

The purpose of your first ad should not be a big ROI, as this is unlikely to happen. Your goal should be to achieve a positive result. Though small, it will give you an idea of the situation.

Never start an advertising campaign without a predetermined goal: whether to increase the traffic to your website, whether to increase the number of likes on your Facebook Page, etc. Choose a goal that you think is important for your business.

But you must understand its value. For example, if you want to gain more likes – how much does a "Like" cost? If you are not familiar with this information, there is no way to find out if your ad will return the money invested in it.

You can find this value by looking at the reports, provided by the social network and more particularly what is written in the column Cost per Action

How to improve your ad?

The easiest and simplest way to do it is by using the so called split testing.

What you have to do is to use one of your ads, but changing one of its components. After that, you launch it again and start tracking the results.

What can you change?

1. image;
2. description;
3. title;
4. targeting options.

Can you guess which of the components can lead to the most significant difference? Yes, that’s right. This is the image. It is the most powerful component and therefore it is most likely to lead to biggest changes.

In conclusion

This is the end of our series of articles dedicated to successful Facebook ads.

We tried to mention all of the most important moments from the creation of an advertising campaign and we believe that if you follow our advices the positive results will soon come.

We hope that we have managed to convince you how powerful digital marketing is and more specifically – social media marketing. Millions businesses have been using it for years – so why haven’t you?

Resource: neilpatel.com

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