Ok guys I am still in testing mode, doing leadgen atm, so it seems there are two things that lower a cpc: the relevance score (depending on your targeting), and the size of your audience.
Right now, I have an audience of approx. 4 million. And a cpc of like 0.40.
Should I keep it that way or should I target sharper? Right now I am targeting women, 30-50. Question however, if I need to target sharper, what the hell should I target at?
First things I think about are: split the ages 30-40 and 40-50, maybe include men? Or keep it this way. Yes I also have to optimize my banners.
Thanks a million.
CPC doesn't really matter, focus on CPL.
Sometimes narrowing the targeting will actually increase costs. You'll be paying for a more expensive audience.
Also be aware of your ads, if the ads sound like ads they cost more.
I had a habit of always splitting ages into 5 years but ive found they actually perform much worse than compared with broad age ranges... That might be different for you.
I think with ages has sometimes to do with FB optimization at campaign/adset/ad level.
I prefer to look for profitable campaigns in as broad as possible audience (I never target interests). Yes I would advise to split by age groups and gender.
But then again I don't have that big of experience in Facebook as I've only had couple big campaigns there.
You can segment interests, geographical, age, af placement etc.
However do be aware that the moment your target audience size goes down, the cpm goes up.
I tried scaling up a small roi campaign by splitting up by smaller age groups. It turned negative roi on me, and the paused profitable campaign never turned profitable again (after u unpausing it) for some reason. Might not fully be applicable for you, but perhaps food for thought in case your roi margins are small.
I found that begin with broad targeting, leave it to run for a week or so, review which audience is converting, i.e age groups, male/female, specific interests, then I would create a new campaign based around the information gained from that. This technique seems to work for me. Even after I have honed in on a audience, i still keep the audience relatively broad +-800 000 people. I believe this leaves some room for oCPM to hone in on the audience which is converting.