What is the value of paid Facebook advertisement?
Facebook has become one of the more important advertising options and a valuable tool for social media marketing for all different types of businesses since there is so much exposure.
Businesses looking for social media marketing help to improve their online exposure as well as their sales conversions should definitely consider advertising on Facebook.
So what are the benefits of Facebook advertisement?
- Affordable Advertising:
Advertising on Facebook can often be more affordable and efficient then placing search ads on Google Adwords. Advertising rates are lower in comparison to most other online advertising, and the results obtained make those rates even more affordable.
-The average Cost Per Click (CPC) is about $0.35 globally and about $0.25 in the U.S.
-The average Cost Per Like is $0.23 in the U.S.
-The average Cost Per App Install is $2.74 in the U.S.
-The cost per mille (CPM) is under $5 for 1000 impressions, currently at its cheapest!
It is important to note that the cost of your Ads will be determined by the different factors taken into account during its creation:
-Ad Quality And Relevance: When your ad’s relevance score is high, Facebook will show your ad more than ads with lower relevance scores, and you will also pay less to reach more of your target audience.
-Estimated Action Rates: If your Estimated Action Rate is low, that the cost of your Facebook ads will be high.
-Your Audience Targeting: Who you target and how many people you target will influence your Facebook advertising cost. This is due to the level of competition to reach a particular audience. When more marketers are targeting a specific audience, it becomes more expensive to reach them.
-The Time Of The Year: Your ads cost will vary depending on when they show. If your ad shows during holidays such as Christmas or Black Friday, their cost will be higher than another time of the year, as the competition gets a lot bigger during holidays seasons.
-The Ad Placement: Facebook recommends that marketers allow Facebook to place their ads on Instagram and Audience Network as well Facebook. Doing so, Facebook says, can reduce the average cost per result of your ad.
In short, the cost of your ads will be tailored to the metrics and strategy you put in place for your ads. Instead of a fixed rate, your costs will vary depending on what you need, which is a very interesting and affordable way to advertise, pay for what you need, and not for a fixed “package”!
- Targeted Ad Campaigns:
Facebook offers a wide array of targeting options in order for you to display your ads in the most efficient way possible to reach your target audiences efficiently. The targeting options include:
-Demographics: Location / Languages / Age / Gender / Education / Work / Relationship Status / Life Events / Political Views…
-Interests: Business & Industry / Entertainment / Family & Relationships / Hobbies & Activities…
-Behaviors: Purchase Behavior / Digital Activities / Travel Tendencies / Residential Profiles / Charitable Donations / Seasonal Events & Activities…
-Connections: Reach people who have a specific kind of connection to your page, app or event. This narrows the audience to include only people with that specific connection who also meet the other targeting categories you select.
-Remarketing Options: People who visited your website / custom lists of emails / custom lists of phone numbers / custom lists of Facebook user-IDs.
Each and every targeting options allow you to forge the perfect Ad, aimed at the perfect audience, that can be an extremely focused, based on very specific metrics if required, which is an advantage only Facebook has thanks to the detailed information every user has on their profile.
- Wider Exposure To The Right Audiences:
Because of the ease of placing target ads on Facebook, along with a plethora of targeting options and costs adapted to the advertiser’s needs, many companies have a wider exposure than even search ads provide, since these ads are seen without the need for a search.
The number of active Facebook users is approaching 2 billion per month, which provides a huge audience for these campaigns, even after ad targeting. The ability for users to share ads broadens that exposure even more, making this form of social media marketing even more effective.
So considering all the possibilities that Facebook advertisements offer, giving you the possibility to tailor your ads based on a multitude of metrics available only on this platform, there is only one thing left to say: What are you waiting for?