“Costs are increasing and everything else is going down!?”
First of all let’s not panic here. There are some positives to take from social media becoming such a popular platform for advertisers. Poor quality content being driving off people’s screens for example! But we get it. The increases in advertisers and the changes in algorithms are making advertising on social media different to how it used to be.
Split test these 2 types of audiences:
- A broad audience: We’ve talked about this here before. If you can set up an ad with a broad audience on Facebook/Instagram, and it starts working; it will either take off quickly and be a great performer, perform well for a much longer time period than your other ads or both!
- A small, highly targeted audience: If like us you spend a lot of time thinking about every single post you make on social media, you want to make sure it’s going out to the right people and not just anyone. If your post is about an event where people drink lemonade while riding horses wearing 80’s clothing…then target people who like lemonade, horse riding and anything 80’s!
Start using automated rules:
If you’re taking your social media advertising seriously, you’ve probably got a lot of ads going at one time. Which is great, but we know more than most that it can be tricky to manage. Facebook rolled out automatic rules last year and they’ve improved it a lot since. If there are certain costs for advertising that you’re simply not willing to pay, make sure the ads automatically stop when costs get to that point. That way you can focus on the ads that are working and plan ways to scale them.