Giving money to Facebook may be hard, I know. It was hard for me too. The wonderful world of Farmville and Mom’s awkward comments wants you to advertise there. Of course, you’re going to be leery of its ROI. What could Facebook provide in the advertising realm?
Here are 3 major reasons why Facebook has one of the highest ROIs:
Any online advertising worth putting money into ought to have this feature. Facebook gives you quite a bit of features to choose your audience. Facebook provides more targeting options than most. You can choose the gender, age range, interests, and more. It’ll give you a total of the number you could potentially reach on the righthand side. Choosing the right audience will mean everything to your advertisement. On KillAdjectives, I ran an add for about two weeks, and it wasn’t really directed at any age or gender, but I wanted people who mentioned they were writers, screen writers, etc. I put a big graphic for my advertisement that said WRITING. For two weeks, I received a solid turnout of brand new unique visitors who engaged in my advertisement and blog posts.
Advertising can become Free after
One big advantage to Facebook advertising is the ability for your readers to like your page, and they will receive any posts or updates you decide to share. This is the one thing that no other advertising service can provide. On Google Adwords, a person clicks on the ad, reads the page, and moves on. You have to keep paying to talk to that customer. On Facebook, the customer may cost money initially, but if they enjoy your content enough to like your page you can speak to them for free from then on, and an added bonus you can use them to talk to their friends for cheaper through promoted posts.
Facebook allows you to set a daily budget, and that budget will be used. If you’ve spent $5 of $20 budget and it’s 11:50 p.m., you’ll see it disappear at 12:00 a.m. because Facebook will blast the crap out of your ad until it has used your budget. So basically, if you decide to spend $10 a day, count on $10 a day.
As for CPC (Cost per Click) and CPM (Cost per Impression), it’s about average. I was getting about 20 cents to 40 cents per click, and I was getting about $1.97 cost per a thousand impressions, which is ok. On paper, it’s average as average goes. Compared to Adwords, it’s cheap; compared to Reddit and StumbleUpon, it’s expensive. However, I put their CPC and CPM below the listed costs because over the 2 weeks I occurred 200+ page likes, and now every time I post a new thing I’ll receive 100-200 page views for free, which has to be equated in there somehow.
I think for the price Facebook delivers engaging readers who are open to your content, given proper targeting. It’s by far my favorite online advertising service. With 55% of Facebook Users being daily users, you can’t beat that with any other social networking service.