Nowadays, social networks are essential for the success of a business, and one of them is Facebook. It is difficult to succeed if you do not take advantage of your online presence. Social media profiles are just as important as a website. You need to maintain them properly, but you have also chosen the right social networks for your business. There is no point in focusing on a social platform if your potential customers are not there. If you want to find out which is the right social network for you, read our blog post.
Nowadays, social media marketing is one of the most successful. All digital agencies are trying to design the best possible brand awareness campaigns. In the last few years, traffic has been coming more and more from social networks. Until a few years ago, most of the traffic came from search engines and paid traffic and ads. That is why everyone is starting to pay more attention to social networks and advertising campaigns. Everyone strives to maintain their social networks perfectly and rely on them for better traffic.
Each social platform has its advantages and is designed for specific businesses. In our blog, you can find out the benefits of Facebook and marketing on this platform.
Facebook offers its form of advertising with Facebook ads that appear in the side columns of the Facebook site. These include a title, copy, an image, and a link to a Facebook page, Facebook application, or external website.
Implementing Facebook advertising in your marketing strategy is a possible technique to increase likes or drive traffic to your website. It is a good option for people with a higher budget. You can take advantage of these ads, which, if done well, will bring you a lot of revenue.
Using a Facebook ad to increase your Likes can be very useful – once a user likes your page, they become a follower, and your posts will appear on their Facebook news feed. It leads to more users interacting with you and your brand, creating relationships that may eventually become conversions in the future.
What determines the price of your Facebook ad?
Like the cost of pay-per-click (PPC) advertising in Google Ads, various factors affect your cost of advertising on Facebook. If you want to build a realistic budget for your business, then you need to understand how these factors affect the price of Facebook ads.
Advertising space on Facebook and Instagram is limited, so there is an auction that determines the winner and who takes the advertising space.
Price is not the only factor that is taken into account when deciding on the winner of the auction. To award ad space, Facebook determines the total value of the ad – in other words, how much the target audience would like or engage with the ad.
The algorithm looks at the quality of the ad (including previous reviews) and the estimated action rates (how many people will take action – like, share or comment – on the ad). The campaign that marks these three squares best has the highest value and earns advertising space.
Aside from the auction, many advertisers find that their spending on Facebook ads changes throughout the year. Advertising costs have skyrocketed in the last months of the year. Online shoppers challenged by Black Friday and Christmas are leading more advertisers to the platform, increasing the number of competitors in the ad auction.
The more advertisers compete in the auction, the higher your Facebook advertising costs will be.
Generally speaking, the eight most crucial factors determine the price of advertising:
- The audience
- Ad budget
- Ad offer
- Ad purpose
- Ad placement
- Ad quality
How much does Facebook advertising cost?
Facebook charges advertisers based on two metrics: cost-per-click (CPC) and cost-per-mile (CPM) – otherwise known as cost-per-1,000 impressions.
Advertising on Facebook costs an average of $ 0.97 per click and $ 7.19 per 1,000 impressions. Ad campaigns focused on earning likes or downloading apps can expect to pay an average of $ 1.07 per like and $ 5.47 per download.
The price of Facebook ads is constantly changing
Facebook is a valuable marketing tool for companies of all sizes. With Facebook, you can find customers with different income levels, interests, and locations using the platform. Many of them discover new products through advertisements on their news feed.
Experiment with different campaigns and creatives. Try new things. Track your results and continuously improve your campaigns. The more time you spend trying to improve your ads, the faster you will find the most profitable and cheapest formula.
Facebook has many different benefits that you can reap. Facebook marketing is often quite profitable. Take advantage of all the opportunities it provides you to increase your income. The advantages of this social platform are many. It is suitable for a variety of people and businesses. In it, you can find almost all business niches. We at Dreamtech offer social media marketing, including Facebook. If you are interested, you can contact us or make an appointment for your free consultation. If you have additional questions, we at Dreamtech are always available.