When you run a Facebook ads costs, you enter an auction system that determines the price that Facebook will charge for your ad to be displayed in the news feed or sidebar. Advertisers bid their price on a slot that is available to show ads to Facebook users, and the highest bid wins (based on quality, relevance, audience targeting, etc).

Revealbot’s data (and other studies from partners like Hootsuite and AdEspresso) shows that Facebook advertising costs are going up across the board in 2023. The best way to reduce your Facebook advertising costs is by optimizing your campaign objectives and ad quality, which will improve your return on investment.

You should also consider your timing: There are peak times of the year when costs increase for all goals because there is more competition. Facebook also takes into account the time of day when your ads are running.

Navigating Expenses: What You Need to Know About Facebook Ads Costs

In addition to your bid strategy, you can also use a tool like Revealbot (try 14-days free) to automatically increase or decrease your budget on days of high or low Facebook ad cost so that your Facebook campaigns are always running at their most efficient level.

Finally, you should always consider what your goal is and choose the right campaign objective for your business: if you choose a “brand awareness” campaign when your goal is to drive website traffic, for example, your CPM will be higher than if you chose a link click campaign with a similar audience targeting. This is because Facebook will optimize your campaign for the objective you have chosen, and choosing a different one could lead to lower performance.