Are You Wasting Your Facebook Ad Budget?
Recently we’ve been working with a group of clients to optimize their Facebook Advertising and we found something surprising across all of their accounts. While they had good budgets, good ads and had targeted their demographics correctly there conversion was low.
Initially they thought it was something to do with their offer, but upon further investigation we discovered their budget was running out very quickly. For example, there daily budget reset each night at midnight and before 6am their local time each day the budget was spent.
The rapid spending of their budget meant their target market wasn’t actually seeing the ads at a time where they were likely to take action. Instead the budget was being wasted on late night clicks where resulted in very little action.
As a fix to this we suggested moving them from using just the Facebook advertising interface to a Facebook ad management software solution. The reason being that Facebook doesn’t offer a time based advertising solution like Google Adwords.
In Google Adwords you can select specific times that you wish your ads to run to ensure you’re ads are displaying at the optimal times for your business. Unfortunately Facebook does not have this feature, but many Facebook Ad Management solutions do.
The move to the managed solution meant they had more control over their budget and when their ads were shown. This resulted in an increase in their return on investment and ultimately a better advertising campaign.
Many business owners steer clear of using paid Ad management systems because they can be expensive, but often they don’t realize that they will pay for themselves. We strongly recommend that when undertaking any paid advertising that you seriously consider ad management solutions as they often offer features which can save time and money.
In this specific case the ad management solution made an unprofitable campaign profitable.