Are you aware that Facebook advertising is also an opportunity to attract visitors to your company’s website? It is also possible that Facebook advertising is not the only opportunity for attracting visitors to your company’s website, but advertising on Facebook is also an opportunity to attract visitors to the company’s website through other efforts.
When it comes to your company’s annual advertising costs, it’s essential to consider which channels offer the most value. If social media, specifically Facebook, provides a great return on investment (ROI), then it makes sense to direct more of your advertising budget to Facebook. Here are just a few things you should know before getting started.
Factors that affect your Facebook advertising cost
Ads on Facebook cost money to advertisers. Facebook ads are run off of an auction system, and advertisers are charged based on a combination of the bid amount and the Quality Score. Ads are shown to users based on their Facebook News Feeds, and cost per click (CPC) is the amount advertisers pay each time a user clicks on their ad.
All ads have a budget, and when an ad spend reaches that budget, the ad is paused until the budget is replenished. Facebook Ads Cost 5 Major Factors:
1. Ad Objectives: When choosing an ad type, the first thing you should do is choose a goal. Whatever you choose, make sure your entire advertising campaign is in line with your goal.
2. Ad Bidding Strategy: Facebook offers a few different bidding strategies that help you lower your cost per click and cost per action. These bidding strategies are called the Automatic, Maximize, and Manual bidding strategies. Automatic bidding helps businesses achieve the lowest possible cost per click or action, according to the company.
3. Quality of the Ads: The success or failure of your ad campaign is greatly determined by how relevant your ads are to the user’s intent. When running an ad network, every ad impression is ultimately an auction, where advertisers bid in real-time to earn an auction ranking.
Target Audience: When you run a campaign, you can specify where your ads will be shown. You can choose by location, demographic, or by keyword. Based on the different objectives of the ad, your target audience will also fluctuate. And it will also affect the estimated reach on the fixed budget of your campaign.
5. Ad Placement: Facebook enables you to target both desktop and mobile users. You can target the right-hand column, newsfeed, instant articles, or you can also target Instagram newsfeed and stories.
How much does it cost to advertise on Facebook?
Facebook advertising is one of the most powerful ways to reach your audience online, but it’s hard to determine how successful your ads are unless you know how to calculate your advertising cost. Facebook advertising cost varies, but the average cost per click remains under Rs. 200. If you’re setting up a budget, you should be mindful of the following factors: country, audience age ranges, gender, and ad placement. Facebook advertising cost also depends on the ad type you want to create.
According to Facebook, there are two ways to define cost and help you know what you’ll be spending:
Budget – Overall amount spent.
Bid – Cost of each result you get.
The first is the budget of how much you’re willing to spend overall. The second is your bidding strategy which is a tool that controls how much you’re willing to spend for each result. The budget includes ads you publish and ads that other people publish on your behalf.
Let’s say that your budget is Rs.10,000 per month. You can use that budget for your bids. A bidding strategy is a strategy that you use to control how much you bid on each auction. For example, if you are going to be spending Rs.200 per day, you can set your bid to Rs.5 for items costing Rs.10. The bidding strategy can also be set differently every time you search, so you can adjust that based on what’s available and your budget.
Many companies made a big splash in the world of social media. Thanks to the access to Facebook’s ad platform and the reach it affords, many companies realized that social media advertising could provide a much greater ROI than traditional advertising