GrowthHackingIdea - Reduce CPC by 4 times (100K analysis)
Setting up new Facebook ad campaigns can cost you a ton of time and money in A/B tests.
But there's a method that can help you uncover the best ads with less time/money spent.
This method helped AdEspresso reduce their cost per website click by 4.73 times!
AdEspresso analyzing 104,256 Facebook ads and discovered that a Facebook campaigns’ Relevance Score helps to predict both the cost-per-click and click-through rate.
The best part is, that in order to see a Relevance Score, your ad needs to achieve just around 500 impressions.
This will significantly reduce your costs per test.
Here's how relevance score influences Cost Per Click.
Relevance Score = 1. Cost Per Click = $0.95
Relevance Score = 2. Cost Per Click = $0.4
...
Relevance Score = 8. Cost Per Click = $0.15
Relevance Score = 9. Cost Per Click = $0.1
Relevance Score = 10. Cost Per Click = $0.03 (that's 31 times less expensive than an ad with relevance score = 1)
For example,
just by changing Relevance Score from 2.9 to 8 AdEspresso reduced their cost per website click by 4.73 times!
How to increase Relevance Score?
The easiest way is by choosing more precise targeting.
An example for the same ad:
1. Targeting: Men and Women, Ages 18-34, Lives in US. Relevance score: 2.
2. Targeting: Women, Ages 18-34, Lives in US. Relevance score: 5.
3. Targeting: Men and Women, Ages 18-34, Lives in US, Interested in Fashion. Relevance score: 8.
Source: adespresso.com
Cheers,Charlie Patel ;)
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