I started advertising on FB a business related software that I promote for years on my website and know it converts well. The issue is I get clicks at $4+ in US and I need to lower the CPC below $0.5 to make it working (based on past stats from my site clicks). Any tips on how to lower the CPC? I know I have to test various images/text but at this rate it will eat my budget before getting the chance to get enough data.
I started with two different images. Is that enough or should I use a lot of different images from the begging? How many clicks should I get on an ad before replacing it?
Is there a better way to get lower CPC fast?
"Cheaper clicks" might but be the whole story as they might prove to have lower intent so a better metric might be ROAS. Personally I pay very little attention to my CPCs at the outset - initially its about finding the creative and audience.
Anyway, from my experience your CPC will be affected by:
- Ad CTR (I'd start with more than two creatives)
- Ad relevancy (while FB have stated it's an output rather than an input, I have ads with a weaker CTR and higher relevance that attracts lower CPC)
- Your audience
- Your bidding, manual v. auto & budget
- The competitiveness of the auction for your audience at the time your ads run
Are you starting with a LAL of your past customers?
Cheaper cpc's dont mean better ROI in the end of the day, but I get what you mean.
What sort of audience you have? How targeted, what platform are you advertising?
1. Since you have previous customers, definitely create Lookalike audiences based on that.
2. You really should have a crap ton of images in testing at the moment. And obviously text variations also.
3. If you are directly selling the product think about incorporating some sort of leadgen.