Struggling with your Meta Ads budget? You’re not alone.
The amount you spend on advertising directly impacts how well your ad performs. Having enough funds allows Meta’s delivery system to show your ad to a wider audience and identify individuals most likely to respond positively.
However, recent changes in online advertising have limited the data available to advertisers, leading to performance reductions and cost increases for some brands. We understand the challenges this poses, and to help you succeed, we’re helping you explore the secrets of Meta Ad budgeting.
Maximise your advertising budget with our essential checklist. This list showcases four strategies to help you reduce ad costs and get the most out of your investment.
Consolidate Your Campaigns And Sets
Streamline your advertising efforts by combining similar campaigns and ad sets. This allows you to:
- Boost your competitiveness in Meta’s ad auction: By focusing your budget on fewer ad sets, your bids become more impactful.
- Speed up ad optimisation: With simplified targeting, your ads reach the right audience quicker, accelerating their learning phase.
Focus on efficiency:
- Pause overlapping ad sets or campaigns: Don’t compete against yourself. Prioritise ads targeting distinct audiences or underperforming options.
- Merge redundant ad sets: When the message is the same, consider combining sets even if the audiences differ slightly.
Maintain strategic focus:
- Limit simultaneous campaigns: Unless promoting distinctly different goals (e.g., brand awareness vs. sales), run one campaign at a time for greater clarity and control.
By following these steps, you can optimise your advertising budget, improve ad performance, and achieve your marketing goals more effectively.
Broaden Your Audience
Expand the reach of your advertising by diversifying who you target. Studies show that brands who employed basic targeting parameters like location, age, or gender in their campaigns, on average, achieved a 12% lower “cost per action” (CPA) compared to those who didn’t.
Here's how to broaden your audience effectively:
- Focus on core parameters: Start with basic demographics like age, gender, and location to establish a broad foundation.
- Embrace detailed targeting: If you choose to add specific interests or behaviours, enable “detailed targeting expansion” to automatically reach relevant individuals beyond your initial criteria.
- Monitor audience size: When setting up your ad set, keep an eye on the estimated audience size under “audience definition”. Aim for at least 2 million people to maximise efficiency and budget allocation.
Remember: A wider audience allows for better optimization and potentially lower costs. Experiment with broadening your reach while monitoring performance to find the balance that works best for your business.
Turn on Advantage+ Placements
Maximise the potential of your ad budget with Advantage+ placements. This feature works its magic behind the scenes by automatically showing your ads on the most effective platforms within Facebook, Instagram, Audience Network, and Messenger.
Think of it as your personal ad placement expert, constantly analysing and searching for the best spots to deliver your message at the lowest cost. This real-time optimization ensures your ads reach the right people without unnecessary spending.
Activating Advantage+ is simple: Just select the option while creating your ad set in Ads Manager. With this single click, you unlock the power of efficient ad placement and get the most out of your advertising budget.
Benefits:
- Reach more relevant people: Tap into a wider audience across various platforms without manual effort.
- Optimise for cost-effectiveness: Find the best placements for the lowest ad spend.
- Save time and resources: Let Meta’s system handle the placement selection, freeing you to focus on other aspects of your campaign.
Experience the power of Advantage+ and watch your ad budget work smarter, not harder.
Make your Meta Ads Mobile-Friendly
In today’s world, where smartphones reign supreme, ensuring your ads are mobile-friendly is crucial for success. Studies show that brands who adopted mobile-friendly video formats (think vertical orientation and snappy 15-second clips) in their campaigns enjoyed a 12% reduction in cost per action (CPA) compared to those who didn’t.
Remember, many of your potential customers are constantly on the go, browsing Facebook and Instagram on their mobile devices. To optimise your ad performance and reach them effectively, follow these simple yet powerful mobile-friendly best practices:
- Go Vertical: Ditch the landscape format! Mobile users hold their phones vertically, so prioritise vertical video ads that utilise the full screen real estate and capture attention instantly.
- Keep it Short & Sweet: Time is precious, especially on mobile. Aim for video ads that are 15 seconds or less to keep viewers engaged without losing their attention span.
- Hook ‘Em Early: The first three seconds of your video are golden. Pack a punch early by showcasing your brand or product’s key message within this critical time frame. Grab their attention and they'll be more likely to stick around for the rest.
By embracing these mobile-friendly best practices, you can create ads that resonate with your target audience, boost engagement, and ultimately achieve your marketing goals more effectively.
Small changes can make a big difference in the mobile world.
Try these extra tips to help your budget go even further:
- Set up an A/B Test
Unsure about which ad creative, placement, or audience will resonate best with your target market? Meta’s A/B testing tool lets you experiment.
How it works:
- Select a campaign or ad set in Ads Manager.
- Meta splits your budget evenly between two different versions of your chosen element (creative, placement, or audience).
- Monitor the performance of each version based on your desired outcome, like cost per lead (CPL) or cost per conversion lift.
Using the test, you get lower ad costs, better efficiency and budget optimisation. Eliminate guesswork and rely on real-world data to make informed marketing decisions.
Ready to run your own A/B test? Simply click the “A/B Test” button within Ads Manager on your chosen campaign or ad set. It's that easy!
- Give Your Ads More Time
To allow Meta’s system to learn and optimise your ad delivery, it’s crucial to run your campaigns for at least seven days. This ensures you get the most out of your budget and reach the right people.
- Align Your Goals with the Right Objective
Before setting up your ads, take a moment to define your business goals. Are you aiming for more website visits, leads, or more purchases? Choose the corresponding objective in your ad setup so Meta can prioritise the right actions for your campaign.
- Consider an “Always-On” Approach
Maintaining a consistent advertising presence, even at a lower level, can be incredibly beneficial. Think of it as building brand awareness and familiarity over time. This “always-on” strategy can lead to a steady stream of leads and customers in the long run.
- Make Smart Budget Choices
Of course, budget limitations are a reality for many brands. If running continuous campaigns feels out of reach, prioritise your ad spend strategically. Focus on seasonally relevant periods like holidays or shopping seasons, maximising your impact during these peak times.
By implementing these simple yet effective strategies, you can ensure your advertising efforts deliver a powerful punch, generating consistent results for your business.
Need a fresh perspective? Let’s talk.
At 360 OM, we specialise in helping businesses take their marketing efforts to the next level. Our team stays on top of industry trends, uses data-informed decisions to maximise your ROI, and provides full transparency through comprehensive reports.
