How much do Facebook ads cost?
I'm very interested to know other business owners' opinion and experience on this. How much do Facebook ads cost you and your business? What's your budget for paid advertising on social media in general? How often do you boost your posts? Do you think Facebook ads work well for all types of businesses? I’m doing a research and really need different viewpoints on the matter.
I would love to hear your opinions to have better insight on Facebook ads cost.
As Paula says, it depends. While boosted posts can increase your reach, they're not a targetted advertising campaign although they can benefit local businesses.
I prefer to create advertising campaigns in the Facebook Ad Manager so I can get a specific outcome (like drive traffic to a website,). In terms of cost I often start with $20 a day, but it depends on the geography (ie targetting a city vs targetting a country / internationally).
I also do rapid fire testing over about a week, to confirm what's getting the best outcomes and then focus on the best results.
Does FB Advertising work for any business, yes pretty much. The biggest variable is how experienced your advertiser is and whether they've achieved results in similar industries before.
Hello Maria, the short answer is, it depends. You can run successfull ads for $10 a day if you do them strategically. I never use boosted posts, instead I use the Ad platform as I can better control the types of audiences I use, I can also track conversions and better scale the campaign if is going well.
Chelsea Creamer ,
Community Manager at SavvySME
Basically, as much as you're willing to pay for advertising on Facebook. Generally, all the digital marketing tools have the same logic: they provide you the audience according to your budget. Of course, there are other options when you pay for each link click. Using this tool you need to know that the priority is given to the ad with the highest click-through rate. Long story short, Facebook advertising cost depends on your budget and your goal.
It's always going to depend on your budget or any client's budget. You can start testing things with $500 per month, but at the moment to scale to get better and faster results you'll have to spend more. In my opinion, a decent monthly ad budget is $2000 per month for a startup that is ready to get more results. I hope it helps.
Yes, I agree with Paula. Boosting post is great if you are a brand that’s well-established, ppl or fans will tend to click on your content.
Small business? Not quite, because there’s a big deluge of content out there, it’s competitive. Only boost the quality ones that have gained traction.
Your budget depends on your goals, whether you’re looking to build a fan base, launch a product/service, remarket offers to those who have expressed interest, etc. The important thing is to set clear goals, select a highly targeted audience, and always monitor and calculate ROI.
With FB, you can set daily budget or campaign budget. Eg: $50 a day for new product ad for 30 days, or $1500 for whole campaign. Let’s say your goal is for 300 ppl to click your offer, then you’re targeting $5 cost per click (CPC).
On top of your budget, you can also set options for your cost per result, in this example your $5 CPC, either as lowest possible price, or biggest result possible. The first ensures your CPC is stays as cheap as possible, and the latter ensures you get as many clicks as possible to your target of 300. FB will then “deliver” the ads to achieve as close as possible based on your criteria and audience.
There’s other metrics such as cost-per-impression, cost-per-engagement, etc. Note that the more you use FB ad, the more data you have such as which offer and content works best for which audience in which area, and how much each lead/impression/engagement cost. You’ll get an idea of whether you need to increase or cut your budget. FB is best used with other efforts such as content marketing, SEM.
Remember, you need to always tie it back to your goal, because you can spend $5/day and get somewhere or $50/day and get a pittance.