October is almost over. Halloween season has begun. That only means one thing. Ad prices are going up! AdEspresso has done great studies about CPC going up 50%+ from late October to end of December.
You’ll have to compete for attention with everybody who sells anything that could be a xmas present. However, that’s no reason to give up.
No ad will last forever, or at least in my experience the price will always go up at some point, but it’s not over. I find there are a few things that can be done to keep the price in check. Here is my approach. (This is specifically for ads that have a history of performing well, but then the price starts to drop).
- Seasonality. Be aware of annual and weekly cycles. Annually, prices go up in November, December. Through the week, prices tend to be lowest early in the week and gradually go up. I guess people start spending more money on their weekend activities then they do online. Don’t necessarily discard a good ad if the increase in price is within natural variation.
- Check Delivery Insights. This is not always visible so it can be easy to skip. (Ad Set level) If your first time impression ratio gets too low, it means that most people in that particular group have seen your ads. The solution is to change audience that that Ad Set. If it’s lookalike audience, just make a new one. If it’s a wide audience, you might have to get more creative. I like to change ’em up below 60% – 80% or whenever the price is getting too high.
Ps. Delivery Insights becomes available when an ad set has at least 500 impressions in last 7 days, not including today.
- If neither of these are the reason why my prices are too high, I usually just have to put in a new ad. This tends to do the trick.
This process works well for me. It’s okay to manage, but as your company scales and you’ll have more campaigns and ad sets, it can take up a lot of time. It’s manageable at our scale, but soon we’ll need a dedicated person just for the IG ads.