Many advertisers tell us they’re happy with a CPI below $4.00, whereas we hit the panic button when our CPI balloons to $1.00. What makes us different? We developed a strategy that allows us to beat the market CPI, across clients and verticals, time and time again. Our process is part art, part science, and a whole lot of blood, sweat and analytics.
Developing highly-efficient ad creative is an art that will save you a ton of money. Your biggest lever to reduce CPI is to optimize your creative for CTR % and conversion %. From ad copy, to ad images, to App Store and Google Play app descriptions, we religiously introduce new variations. We recommend using short, clear calls to action for your ad copy, focusing on detail and readability of your images, and making sure the App Store and Google Play app descriptions mirror the messaging and imagery in your Facebook ads.
Data rules in our company, and we take a scientific approach to performance analysis and bid management. We use Nanigans to execute our strategy, and our unique process allows us to manage ads in a life cycle. Ad Engine’s dynamic bidding adapts to the performance of ads at various stages in the life cycle, driving up CTR % and minimizing CPI. We recommend spending up to 20% of your budget testing new ads, quickly pausing underperforming ads, and only attempting to scale your most efficient ads.
Blood, Sweat, and Analytics
The only constant on Facebook is change. Ads burn out quickly (every 4-7 days) and performance can swing at any moment. We gain an extra 20% efficiency by obsessing over data in real-time, and Nanigans helps automate that analysis. By monitoring hourly trends 7 days a week, nights and holidays included, we quickly react to fluctuations and limit financial damage. A couple of inefficient hours can blow out our budget and blow up our CPI, so we’re always on guard. We recommend frequently monitoring intra-day performance using Nanigans’ new Performance Analysis reporting tool to quickly identify marketplace performance fluctuations.
Most advertisers shouldn’t be satisfied with a $4.00 CPI. If you’re paying more than $1.00 per mobile app install on Facebook, you likely have an opportunity to reduce your CPI overnight. Our mobile app install strategy is fully transparent, we work with our clients’ Facebook and Nanigans accounts, and our clients have the option to be trained on our process. Visit the Consumer Acquisition website to learn more about our services and how we can help reduce your CPI on Facebook.
Editor’s Note: Tom Young is CMO at ConsumerAcquisition.com, a full-service growth hacking agency specializing in transparent Facebook advertising and mobile app installs.