3 Ways to Take Advantage of January’s Low Mobile Ad Prices
January 21, 2014
January ad prices are known to dip year after year as advertisers shift time and focus towards annual planning and away from big ad spends. Facebook ads are no different – January 2013, for example, saw a 25% drop in the CPC of Facebook ads while simultaneously showing a 14% increase in mobile engagement. Add the fact that this December was a record-breaking month for iOS app downloads with more than 2 billion and you have a perfect storm for mobile advertising.
Facebook is bracing for another beginning-of-the-year fire sale, and smart marketers are buying every click they can – especially the mobile ones. Here are three ways to take advantage of January’s low mobile ad prices while they last:
1. Increase Max Bids and Budgets
Your ad is getting results, why not bump up your budget and bids and see if you can increase CTR?
Increasing the max bid on your ad budget isn’t about more people seeing your mobile ad campaign. It’s about the right people seeing it. Lower bid ads tend to get shown to more, but less-targeted users that may not be especially interested in your product. These users generate tons of impressions, but low CTR. If your engagement is floundering – even on “efficient” campaigns – tweak the max bid and up the budget in January to give it the push it needs.
2. Test New Targets and Daring Creatives
Redefine your target audience for 2014 by using Custom Audiences and lookalike audiences in the ads create tool and Power Editor. Using current customer and prospect data – email, phone numbers, retargeted Facebook user IDs, etc. – you can redefine and possibly discover a new, unleveraged target mobile audience.
The best way to really see if a new audience is right is to test multiple ads. Test out-of-the-box creative, at different times, on different days. Swap one age group for another and run your campaign. Try video. Use different images. Test, test, test. Then collect the data and find what drives engagement. The initial investment in January at discounted prices will save you time and money later in the year.
3. Experiment with Mobile Engagement Ads
If you haven’t already tried out Mobile App Engagement Ads – and tapped into Facebook’s 874 million monthly mobile users – now is the time.
These ads provide links that take users directly to customized locations in your app – like in-game purchases of new levels, or travel booking pages for last-minute deals – and custom CTA buttons drive high conversion rates. These ads get results, especially with refined customization.
Target the OS you want. Target WiFi only users for nearby deals or relevant products. Create Custom Audiences. Experiment with different CTA buttons to drive conversion. Test and mess with your ad campaign while the impressions are cheaper to plan your next move when your budget might shrink.
January is the time to find out what works. Prices are low and mobile engagement is high. Dive into 2014 with mobile ads and discover a new world of users.
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