There are many great social media marketing hacks when it comes to running and managing ads on Facebook. However, many of those neat tricks you learn, while they often lead to successful results, don’t necessarily help you save the most money.
But when it comes to owners of small businesses, though, they tend to run on a smaller budget, which means saving money is most definitely something they prioritize the most when running Facebook ads.
How, then, can you manage to save up on costs, since, after all, running ads online can add up pretty quickly? Fortunately, there are some ways you can do that fairly easily.
1. Select the Right Target Audience.
One of the quickest ways for your Facebook ads to fail and to cost the most money per result? Targeting the wrong audience.
Logistically and financially speaking, it makes little sense to target people who would have no interest in what your small business has to offer. For instance, targeting men’s shaving cream to middle-aged women would be an expensive decision, as would targeting little girls’ dresses to 60+-year-old men.
2. Turn off Bad-Performing Ads.
As time goes on, it’s your responsibility to make sure you disable the ads that aren’t performing as well, leave the good ads running, and create new ads as necessary. One way to know if an ad is no good is if it’s costing too much to run. This, however, can also mean that the target audience isn’t correct.
3. Use Multiple Audiences.
Even when you’re certain you’re using the right audience, it’s critical to test multiple audiences to see which one will bring the best results. With Facebook, not only can you target different genders, ages, and locations, but you can also target people with different interests and behaviors.
4. Try Retargeting.
Not only will you want to target new potential customers, but you should give retargeting a go to try to reel in people who were interested in your small business’s offerings before but never actually converted. Basically, retargeting is a second chance to get people to make a purchase next time around. And it can sometimes be more affordable than targeting brand new people.
5. Hire a Social Media Marketing Agency.
Are you unsure how to successfully create and manage Facebook ads? Or do you have little time and/or interest to do so? It might be worth hiring a professional to do the work for you. After all, they have the skillset, time, and knowledge to do so.
Visit the BusinessTrex website for more information on managing Facebook ads to get the most bang for your buck.
Conclusion
Running Facebook ads for your small business might just be one of the best things you ever do. The results you can derive from these ads can genuinely help make your small business as profitable and successful as quickly as possible. And with these neat tricks, you can ensure you spend as little money as possible to get the results you need for your business to still thrive.
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