If you are considering advertising on Facebook, the advertising price is something you might worry about. You need to understand how their system works in order to reach the largest amount of people or prospective buyers with the minimum cost possible.
There are two ways to get your campaign going:
• Choose cost per click (CPC) or
• Cost per one thousand impressions (CPM).
The next step is to select each criteria identify your target as per your thoughts starting from location, gender, age, birthday, likes, interests, education and connections.
After you have followed all the steps in the ad creation process, you will find in the section "Suggested Bid" the range of bids that are currently running for ads similar to yours. Here you can set the price you wish to pay per click or per thousand impressions.
So the advertising price on Facebook can be controlled by setting a daily or lifetime budget. But what you actually need to understand is that you will be charged on a calendar day basis and not on a scale of 24 hours. So if you plan to run a campaign from Dec.1:2011, 10:00 am to Dec.2:2011, 10:00 am and you set your daily budget to 10 dollars, you can actually be charged up to 20 dollars. Of course you will be charged only for the number of clicks you receive or the number of impressions of your ad that are displayed.
Whether you are unsure what to choose between CPC and CPM, you have to decide what is that you are trying to achieve: find prospective buyers or build awareness of your brand. For the first activity it is recommended to try cost per click as those who click are already engaged in the buying process. Now if you really want to make a name for yourself then cost per thousand impressions is the way to go.
Effective advertising is what you should keep in mind before going and spending your entire budget. Here are some simple tips to keep your losses under control and advertise at your best:
- Relevancy to your target is the key to their pocket. This is why the information you present should meet their needs or answer their queries
- Understand what are they doing or searching and how can your ad come in without disturbing; think of it as a continuous process
- If you know that trust is what they value, think of what people should recommend you
- There is a probability for them to buy, but what is the degree of certainty?
- Advertise on Facebook like you are doing it in person, define your goals and make an action plan
There are many reasons to advertise on Facebook starting from the fact that is the number-one social media site today. The ad creation process is simple and has a cost control. Facebook’s advertising price is lower than Google’s. Your credibility increases when customers recommend to their friends so the chances of attracting more people would be greater.
Alicia Campbell is a prolific article writer and has written informative articles on a host of subjects related to medicines, product reviews, art etc. For more great information on Facebook advertising price, visit http://facebookmarketingtricks.org.