Improving efficiency of spend and getting the most bang for your buck is a thought that never escapes a marketers mind. To help with this, we have created a list of 4 top tips to improve your Facebook Cost Per Acquisition (CPA).
It seems obvious but it can be over looked. Other factors such as audiences and budget can cause you to forget that the actual user will only see your creative. Spend time to review each of your ads and ensure you are using appropriate images. Position yourself as the target user and really consider what would make you click. Take advantage of Facebook’s optimization process. If you upload three photos for the same ad, Facebook will automatically test all three and then display the one that performs the best (Newsfeed Ads).
2. Improve Targeting Accuracy
Simply put – use Website Custom Audiences. The biggest advantage of WCA is the advanced segmentation that it offers. You can segment by user activity and behaviour. For example, you can segment by traffic source such as Google and pay more for these targeted ads for people who have yet to purchase. You can also segment based on visiting times, so someone who visited your website 1 week ago can see different ads than someone who visited 30 days ago. Use this to become efficient with your targeting. This will improve your CPA.
3. Use Multi-Product Ads
Through Multi-Product Facebook Advertising you can offer a user more than one product to choose from, reducing the amount of clicks necessary to get from an ad to an order. Multi-product ads have proven to produce great results for retailers in comparison to simply using single ads. Retailers using StitcherAds for multi-product ads have seen a 36% – 54% decrease in Cost Per Acquisition (CPA) and 41% – 234% better ROI.
4. Reduce Loss
Stop wasting spend on Ads that are not performing. Having a system in place that runs rules, constantly checks performance against them and automatically takes action will help in achieving better CPA. In StitcherAds you are able to set rules that will take actions on your behalf while you’re away from the desk. These rules are set at a campaign level and every hour they check all the individual adsets included in that campaign.