Facebook is a multi-use social network that not only gives individuals the opportunity to connect, it also saves memories, it allows them to share their thoughts, share their opinions and share their moments with friends, family, and loved ones. The same platform also helps companies and brands whether start-ups or established, to connect with their users and clients, also giving them a wider audience than any other social network has provided. Providing them with tools for effective advertising and branding, the platform helps them achieve so many goals, all in one place. Facebook has provided relatively cheap advertising tools to help businesses boost their advertising speed on the platform. If you’re interested in advertising your business or brand on Facebook, here are the things you need to know.
Basically, you can advertise on Facebook with any budget you choose to work with, and since there are necessarily no fixed costs, you’ll have to choose from your buying types as offered by Facebook, and these are;
After creating your advert, you’ll need to submit your advert to the Facebook ad auction, alongside your budget, as the ad auction determines which ads will be shown to what type of people using the information provided while creating the ad, based on interests. With a specified amount, you can bid to reach your target audience. For example, if your budget is $1,000, you can bid within the limit of your budget and reach your target audience while spending efficiently.
By Reach And Frequency
Using Reach and Frequency, you can also place a fixed amount of payment to reach a predicted target audience. Although this requires the advert to have a reach of about 200,000, hence it isn’t suited for all advertisers, but usually recommended for Brands.
By Targeting Rating Points
By using this buying type, advertisers who are accustomed to Television campaigns, get to plan as well as buy video campaigns by using TRPs (Nielsen Verified Target Rating Points).
These are the buying types available for Facebook advertising, although you also need to note that you can either buy Facebook ads from your Page or From the Ad’s manager. However, when you try to buy ads from your Page, you can only use the auction buying type, whereas with the Ads manager you can specifically choose your buying type. Hence it is always preferable to use the Ads manager because of the available advanced customization options.
Finally, if you’re really keen on numbers, these average references may be of help. On average, the cost per click for ad reaches is about $0.97 and per 1,000 impressions is $7.19. While for Ads with a target of earning likes or App downloads would range from $1.07 per like and $5.47 per download. The costs of these advertising will always vary considering all the factors involved.