With the increased complexity of Facebook advertising, it’s easy to become frustrated and jaded. However, you may find that it is a great opportunity for you and your business to stay ahead of the competition.
2. Increased competition
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3. In-feed placements have more value
You can learn everything you need to know about Facebook Conversions API here.
If at your current budget you are seeing lead ads work effectively from the top to the bottom of your sales/marketing funnel, then I would suggest continuing to run ads as you are.
7 tips to keep your Facebook CPMs down
For more ways to save money in Facebook ads, check out the following:
1. Diversify your campaign strategy
The Facebook Conversions API allows you to track Facebook events using your server, which doesn’t require cookies and can therefore capture more data than the Facebook Pixel alone. With more complete and accurate conversion data, you can create stronger remarketing audiences, and since those will likely grow, this will lower CPMs.
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As we knew it would, the release of Apple iOS 14 earlier this year has impacted Facebook advertising in a dramatic way. Now that a few months have passed and the dust has settled, I want to share with you something I’ve observed in my clients’ accounts: that CPMs are rising.
With this perspective, the hard work needed to ensure your ads are running and tracking properly will pay off in the end. As widespread of a hurdle that iOS14 has been, many are still thriving with Facebook Ads and will continue to do so through patience and dedication to their overall marketing objectives.
4. Enable all placements
But if you are seeing dramatic spikes in costs when attempting to scale your existing strategy, you may want to try setting up a full-funnel strategy using a variety of campaign objectives.
5. Implement Facebook’s Conversions API
Personally, the only Facebook ad placements that I advise clients against advertising on is the Audience Network. However, if your audience is refined or has a higher degree of intent (such as with a remarketing audience) then enabling automatic placements could benefit the surface level metrics of your campaign (at least in the CPM realm).
I also noticed that lead ad campaigns had a much more volatile reaction to iOS14 than their counterparts simply because of the types of placements this campaign type allows.
6. Keep costs low elsewhere
As I have stated above, running multiple campaign types may be a good strategy to combat surface-level costs. However, this all really depends on the results you are seeing and the costs you are experiencing with your current budget and Facebook advertising strategy.
Due to the shrinking of many audiences, the real estate for which your ads enter an auction has become limited as well. This causes an increase in competition on a per-user basis, further raising costs to advertise on Facebook.
7. Don’t give up on Facebook ads!
In addition to the above tactics for keeping your CPMs down, you might also want to make sure you’re doing what you can to keep costs low in all areas of your Facebook ads account.
If many advertisers give up on it but you don’t, you can be in a good position to get your brand out there, drive leads, and take advantage of a powerful platform that your competitors are not.
For example, here are the placement options for a lead ads campaign vs a conversions campaign:
How to reduce your Facebook ads CPM [recap]
- Diversify your campaign types.
- Broaden your audiences.
- Lower daily budget on the ad set level & introduce more audiences.
- Enable all placements.
- Implement Facebook Conversions API.
- Keep costs low elsewhere
- Don’t give up on Facebook ads!
So what do we do now? I have five tips to help you combat rising CPMs as a result of iOS 14.
