How Much Do Facebook Ads Cost? Are They Worth It?
October 4, 2017
The cost of placing ads on Facebook depends on your goal. Are you aiming to get impressions? Do you want to extend your reach? Will your advertising efforts be focused on lead generation? Will it be for off-site conversions? Or do you just want people to click on your links?
In general, it will cost you around 27 cents to get somebody to click on your ad. A thousand impressions will cost around $6. However, if you include the question, “Is it worth it?” in the equation, your perception of Facebook ads will change drastically. And again, the purpose of your advertising and marketing efforts will be in question, and will determine the worth of every dollar you spend on this social media platform.
At first glance, looking at the cost per click or CPC will make you think that it’s on the cheap side. The cost per click in AdWords (the advertising platform of Google) is around $1 to $2. And if you’re targeting expensive or popular keywords, even if you’re just using Bing Ads, prepare to throw away $50, $100 or even $200 per click! So, Facebook Ads are really looking good now, eh?
The catch in Facebook is, that it’s a platform that cannot ensure profit. A click on your ad doesn’t guarantee sales. After all, people using Facebook aren’t always looking to spend money or looking for a new product. Most of them just socialize, and are more concerned about the next selfie that they’ll post.
On the other hand, people using a search engine like Google, have every intention of looking for something. After all, that’s the reason they’re using the search engine in the first place.
So, what does all this information tell you, anyway?
- If you’re aiming for reach and impression, especially if you’re focused on making your social media pages known, then using Facebook Ads is definitely worth it. While they won’t net you a solid profit, Facebook Ads are an efficient and cost-effective solution.
- If you’re on a tight budget and are just starting out, there’s no harm in using Facebook Ads. The cost per click is astoundingly cheaper than using AdWords. It might not sound profitable, and there’s no assurance that you’ll get your money back fast, but it is a low-risk venture.
- If you’re going local, then Facebook Ads is a better option. Even if more people prefer to utilize search engines for businesses, they still spend most of their time online on social media platforms. And the physically closer your target audience is, the more they’ll be exposed to your ads.
- Due to the low cost, Facebook Ads remains useful as a conversion tool. If your target audience is on Facebook, the conversion proportion tilts tremendously in your favor. It can easily defeat a paid search campaign by more than 35% in terms of conversion. That makes sense; after all, the cost per lead and cost per click on Facebook Ads is cheaper by more than 50%.