Another thing to keep in mind when you’re placing Facebook Ads is to keep an eye on your CTR position as well as when to use the CPC and CPM functions. Enjoy tips three and four in our six-tip series:
Keep an Eye on Your CTR
“CTR” stands for Click Through Rate and you want to keep an eye on how well your advertisements are performing.
Your ads should never go below 2%, and if you notice that an advertisement is starting to fall below that level, you will want to tweak your advertisement and reconsider who your target audience is for the advertisement. Ask yourself:
- Are you asking the right questions in your advertisement?
- Using the right image?
Make sure that you spend time evaluating the effectiveness of your advertisement to generate maximum conversion rates and avoid having your advertisements paused or removed.
Choose CPC Over CPM
You can choose to pay for your ads through CPM (cost-per-thousand views) or through CPC (cost per click) depending on your marketing strategies and goals. CPC is an excellent choice for the testing phase.
- The CPC option is a good choice if your goal is having people click through to your website and either buy the advertised product or sign-up for your special offer. CPC allows you to control the cost to drive each individual person to your website. CPC advertising is more effective for advertisers who are hoping for a certain response from users (like sales or registrations).
- The CPM option is more useful for businesses who want to expose their target audience to their particular brand. If you’re more interested in people seeing your brand rather than taking action this would be the choice for you.
I suggest that you start with the CPC option and as you become more comfortable branch off into the impressions. Engage in testing phases for both CPC and CPM and see which works best for your brand and/or your product. Keep your testing budget small and once you discover which works better, then allocate additional money to your campaigns.