How Much Does Advertising Cost on Facebook?
The answer…. That depends!
Probably not what you wanted to hear but it depends on a lot of factors.
The good news is that it is A LOT cheaper than Google Ad Words, Radio or Television advertising.
Actually Google Adwords is many times over the cost of Facebook ads, but there are reasons for it.
The cost is what makes it so easy for almost anyone to get started in internet marketing.
You can set daily spend limits as low as $5 per day. You can also set this to stop the next day or any number of days you deem fit. You can also choose the time of day that you want your ad to run which is a huge benefit.
You can choose how you want Facebook to charge you. You can have them charge per impression, per click or per action.
The cost per action is then determined by a few things
1 – Your geographic location (if you are advertising outside of the US it is a lot cheaper)
2 – The industry you are in
3 – How well you are targeting your audience
4 – Placement of your ad (facebook desktop newsfeed, facebook desktop right column, mobile, instagram etc
Number 3 is the one you have the most control over and what true marketers are always looking to improve.
Getting this right can have a huge difference in the ROI of your company. If you are too broad or are targeting, maybe you are targeting your audience incorrectly or if you are targeting the wrong audience all together, then your ad cost will be much higher.
Most people strive to get a cost of $1 per click Starting out you might be getting a cost of $2.50. At that point you know you need to either tweak your ad or narrow your audience to fewer people.
As you can tell, getting this correct can cut your ad costs in half so it literally pays to optimize your ads.
In a later post I will go over the numbers and how some achieve a monthly ROI in excess of 100% or even 200% and beyond.