The topic of Facebook ads cost is a popular one. Nearly every business, small and large, is turning to Facebook ads… and why not?
Even if you think your audience isn’t on Facebook and they’re on Instagram instead, guess what? Facebook owns Instagram! Not to mention the low budgets you can set, specific targeting, etc. It’s the only advertising I do.
Facebook Ads Cost
Yes, you can set low budgets! So many people ask, “How much do Facebook ads cost?” The answer is as much as you want them to! Yes, Facebook ads pricing is completely up to you.
[Tweet theme=”tweet-box-shadow”]So many people ask, “How much do #FacebookAds cost?” The answer: As much as you want them to![/Tweet]
There is just one catch. You need to commit to one dollar a day. Just $1.00!
When Facebook changed its algorithm and started making you pay for your content to show up in newsfeeds, I started boosting posts.
It seemed easy enough. The “boost post” button was right there and choosing who you wanted to boost it to was pretty easy – just pick your target location, your audience’s interest, and your budget. It’s easy enough, but it’s not the most effective Facebook ads choice… and you have a lot of choices.
Instead of booting a post, you should create an ad, but what kind? There are so many – promote your page, increase brand awareness, get video views, collect leads, increase conversions, promote a product, etc.
So how do you know what’s right?
Well, first you need to ask yourself what the purpose of the ad is. What do you want people to do when they see it on Facebook?
Is it to get more likes? Get more traffic to your website? Collect email subscribers? Use a pixel to retarget later? (Don’t know what a pixel is? It’s your money maker. This is why.)
Decide what you want. That’s step one.
Types of Facebook Ads
From there, you will select the best objective based on your goal. Because there are so many options, you may need to dig deep here. Do you want more likes on your Facebook page? Why? To get more leads? Then, you want more leads, not more likes.
For me, I want to convert people. I want you to go from a Facebook viewer to a Facebook action taker. For this reason, I almost always choose to increase conversions on my website. I want people to go from Facebook, to my website, and take a certain action.
I like to see what’s working and what’s not working, so I need to see numbers.
[Tweet theme=”tweet-box-shadow”]I like to see what’s working and what’s not working, so I need to see numbers. #advertising[/Tweet]
You’re able to see a cost per engagement. The term “engagement” is pretty broad. It could mean a like, share, comment, click, etc.
Successful Facebook Ads
If you want more specifics, you want to know the cost per conversion. The “increase conversions on your website” option really breaks down how much you’re spending to get that email address, webinar sign-up, or whatever your objective is.
Based on that information, you can see what’s working and what’s not. Maybe you need to tweak your audience, your wording, your image, your video, etc.
Facebook ads are like a science. It kills me when people say they hire their nephew on spring break to manage their Facebook account for this reason. Just understanding how to create an ad, then test it to get those most of it takes a lot of learning and understand.
[Tweet theme=”tweet-box-shadow”]#Facebook ads are like a science.[/Tweet]
Luckily, Facebook shares all of that information here, but make time to read it all. Like I said, it’s a lot.