When Mark Zuckerberg shocked the digital marketing world with his announcement that Facebook would overhaul its algorithm to let users engage with their friends and family more and less with brands, the social media giantâ€™s CPM skyrocketed 122% -- the highest spike in Facebook ad prices over the previous 14 months.
Today, organic and paid reach are still flatlining, causing ad costs to balloon to unprecedented levels. And in a space where advertising has historically been cheap, how can marketers sustain their revenue without having to increase their Facebook ad budget?
One word: optimization. In a nutshell, ad optimization is getting the maximum bang for your buck for every single dollar you spend distributing content. To do this, you need to constantly test your Facebook ad strategy and use data to course correct it enough to maximize your results every time you send out an ad. But that's easier said than done.&
Fortunately, we sat down with Rex Gelb, HubSpotâ€™s paid acquisition team lead, and asked him about his approach to Facebook advertising. Check out his five-step process for running efficient campaigns and start optimizing your Facebook advertising budget today.