the Facebook is the universal social media network. Facebook hosts over a quarter of the world’s population. It is providing advertisers with an unparalleled opportunity to reach virtually anyone and everyone.
Where Facebook Advertising Shines
If you want email addresses, Facebook is the place to go, with many advertisers reporting costs below $1 per lead. The most common model used is to run a Facebook ad directly into a high-converting landing page offering some variety of a free lead magnet or bundle product.
Common examples of content for social media advertising campaigns include:
- E books.
- Product coupons.
- Sitewide discounts.
- Limited-time offers.
- Free shipping.
Expression Fiber Arts does a really great job of this offering free products, download-able and predictable discounts and coupons for her audience. Advertisers can target by location (within a 5-mile radius), job description, interests, past activity, and many other incredibly valuable criteria.
How Facebook Advertising is Priced
Pricing varies widely based on several factors, including the audience you’re trying to target and the budget you set for your ads.
As a general rule, the more money you spend, the more efficient Facebook’s algorithm becomes at spending your money, increasing your ad performance over time.
According to an extensive study done by Ad Espresso, the average cost per click (CPC) of Facebook ads as of 2016 was roughly .28 cents and the cost per 1,000 impressions (CPM) was $7.19.
The study went on to break it down by age and gender as well. The 65+ age grouped showed the most continuous trend of lower CPC costs over time.