How much does it cost to advertise your business on Facebook? Well, this question is a difficult but popular one. Many variables influence the price of advertising on Facebook, and we will help you understand some of them in this article.
Advertising on Facebook has become an effective strategy for businesses around the world. Currently, there are over 7 million active advertisers on the platform.
However, if you are thinking of promoting your business on Facebook, most likely on your lips lies the following question: How much does advertising cost on Facebook?
In short, according to Facebook for Business, a business can purchase ads on Facebook regardless of its budget.
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How much does Facebook advertising cost?
The price for displaying your company’s ads in front of potential customers is set based on the auction in Facebook Ads (the platform for managing paid ads on Facebook). Still, a business can set a weekly or monthly budget that it wants to spend on Facebook Ads campaigns.
It is also important to remember that there is a minimum price for certain types of paid advertisements that you will have to invest in to promote your business.
The most important thing is to know that you are the one who will decide the final budget and the bidding. Facebook will never spend more than the maximum amount you will set.
According to Facebook, a business can get results with any budget, which is possible because you have precise control over the costs of your campaigns.
Through the Facebook ads management tool, you will know what you can get in exchange for a certain amount of money.
But, if you have never worked with Facebook Ads, the best thing to do would be to turn to a Social Media agency that can help you reduce costs and improve your strategy.
Now, to get as close as possible to a clear answer to the question – How much does Facebook promotion cost? – it is necessary to go through a series of preliminary questions. This way, we will better understand the context in which we can find out the cost of a Facebook promotion campaign. So, we start with the question:
How much do Facebook Ads cost?
Facebook offers free access to the Facebook Ads tool for all businesses. Still, there are costs for companies that want to promote themselves to potential customers with the help of paid promotion campaigns.
These costs may be different depending on the type of campaign:
- Cost-per-click (CPC): $0.97
- Cost-per-thousand-impressions (CPM)
- Cost-per-like (CPL): $1.07
- Cost-per-download (CPA): 5.47$
The prices presented above represent only an estimate; In practice, the final price of a promotion on Facebook can vary considerably and may be lower or higher.
Companies spend on average between 200 and 800 euros monthly on Facebook ads. However, some companies invest much more than that for Facebook promotion.
How much you’ll invest in Facebook ads depends only on your business and the available budget.
What’s important to remember is that a larger budget can help your business generate more clicks from Facebook ads, leading to more conversions and, implicitly, to a significant increase in revenue.
At the same time, it is essential to remember that, in addition to the costs of Facebook Ads campaigns, your business will also have to bear the costs of collaborating with a PPC agency specialized in Facebook Ads campaigns.
What influences the advertising costs on Facebook?
As with PPC ads made in Google Ads, various factors influence the costs of an advertisement on Facebook.
If you want to set a realistic budget for the online promotion of your business, then you will need to understand what these factors are and how they influence the price of your Facebook ad.
8 factors that influence the price of ads on Facebook:
- Audience (targeted audience).
- Ad Budget.
- Ad Bid (bid).
- Ad Objective (the objective of the campaign).
- Ad Placement.
- Ad Quality.
- Season (season / seasonality).
- Industry (industry/field of activity).
How to advertise on Facebook?
The first step to selling paid ads on Facebook is to create the ad account/access the ad creation account.
To pass this first step, click on the option: “Create ads” to enter the “Ads Manager” section.
The next step is to choose the objective of the ad.
In the ads management section (Facebook Ads Manager), after clicking on “Create ads,” you will be able to see all the available objectives.
Facebook Ad Objective You want to achieve:
- Clicks to the site
- Website conversions
- Interactions on a Facebook page post
- Installation of the application
- Interactions in the application
- Local visibility
- Generating leads, etc.
When choosing your campaign objective, you’ll also need to consider that your ads will look different depending on your desired goal.
Facebook will show your potential customers the best ad to achieve your goal.
Once you have set your campaign objective, you need to give a name to the ad account, and then you will click on “Create ad account.”
The next step is configuring the account by selecting the language, country, currency, and time zone.
Now you can handle the configuration of the ad and achieve precise targeting of potential customers relevant to your business.
Here, too, the targeting possibilities are almost endless, but it’s all about your creativity and your budget.
That said, when it comes to the annual advertising costs of your business, it is essential to consider which are the most effective promotion channels, what type of campaign to choose, what kind of audience, but also, just as importantly, the type of objective you need to set.
The only way to know the prices of Ads on Facebook for your business is to test Facebook Ads.
We hope we have given you a more straightforward answer: How much does it cost to promote on Facebook? – If you want to implement effective campaigns or reduce your current advertising costs, do not hesitate to contact the experts.