How much does Facebook advertising cost? The second most popular question, immediately following the refinement of the degree of efficiency, is “How much does Facebook advertising cost?” If you follow a well-thought-out strategy and focus on the campaign goals, launching ads on Facebook, the cost of conversions will amaze you. Conversely, if you start to act ad network blindly, you will lose money faster than a novice in a casino. Polus.media have collected for you a list of the most expensive advertising errors on Facebook.
Too large sample of the target audience
Quite a common mistake for beginners. FB boasts with a huge amount of targeting options. And you may want to gather too large an audience. After all, there are plenty of variants suitable for you. Remember that every wasted show ultimately takes your money.
Ignoring targeting by interest
The most common parameters by which the SMM manager eliminates unnecessary people are gender, age, location. But you should dig deeper and find out what your best customer is interested in.
Work without retargeting
Anyone who has ever interacted with you on the FB should see the information about you at least 3-4 more times. Only in this case, the potential client is considered sufficiently “heated” for the implementation of the target action: order, call or register on the event. This is the function of retargeting.
You cannot just start a campaign and watch how funds are debited from the account. The only correct way to conduct an FB advertising campaign is to analyze, reconfigure, change, and act again in a circle.
The average cost of advertising on Facebook
Regardless of your goal, you always participate in the auction system, in which, based on many factors, you dictate the price you are willing to pay for reaching a certain group of people. In each area, the averaged numbers are their own. But if you are curious to find out these figures around the world in all sectors, we will cite the latest statistics published by Facebook:
- Cost per click (CPC): 30-60 cents
- The average cost of 1 thousand shows (CPM): $7.29
- Application Rate (CPI): $2.7 – $3.9.
The main thing that you need to take out of this article on advertising on Facebook: the price you pay will reflect your ability to interact with your target audience.
Congratulations! You have launched your first advertising campaign. It’s time to check how effective it is. No matter how much you like your ad, you need to constantly check it in order to have time to make corrections if they are required.
A quick overview of advertising companies
Immediately after launching the Advertising Manager, you will be taken to the Manage Advertising tab, which lists your latest advertising companies.
Analysis of the results of your advertising
By clicking on any advertising company from the list, you can see the graph of the results of your advertising. Efficiency shows your results based on the advertising goals you have chosen (for example, Clicks on a website or Likes Pages). The audience displays information about people who interact with your advertising. By default, Facebook shows you the metrics of your ad’s performance. You can select other metrics for analysis:
- a quick overview of advertising companies
- the entire involvement
- video involvement
- application involvement
- involvement for advertising with a ring gallery
- efficiency and clicks.
Facebook also gives you the opportunity to customize the columns based on the indicators you need to
analyze to find out the effectiveness of your advertising.
How to reduce advertising costs
The effectiveness of advertising depends on several parameters:
- Carefully tuned targeting of the target audience
- Properly chosen advertising goal
- Placement of advertising (the pain of the majority of beginners).
- A day after the launch of advertising, you get the first data for analysis.
Having a closer look at the advertising reports, you’ll see what worked and what did not. The most common mistake is to use the picture + text only to start a campaign. Test your advertising before launching. Only testing goals can show which of them will be more effective for your business. Marketers also say that you need to use the conversion for sales.
Now you know how to create ads, target, and analyze the results of your advertising campaigns. But as you
understand, this is only the beginning. Create advertising campaigns and learn from your mistakes.