In previous articles we taught you how you could advertise on Facebook. But if you have decided to take your business to a new level you need to know about the expenses and Facebook advertising cost. In this article we will completely explain how much budget you need in order to have a successful Facebook advertising experience.
Facebook advertising cost
Good news is you can advertise on Facebook or Instagram on any budget. So you shouldn’t worry about money. However, the results hat you are going to get depends on how much much you want to pay. You can spend $10 or $100000 per week on Facebook advertising and the company will try to get you as many results as possible for that amount. Keep this in mind that there are some types of advanced Facebook ads which require you to spend a minimum amount of money to work.
- The average CPC for Facebook advertising cost in 2016 was $0.27.
- The average CPM for Facebook advertising cost in 2016 was $7.19.
There are 2 ways to define this cost: the overall amount spent and the cost of each result you get. Through budget you can control your overall amount and through bid strategy you can control cost per result.
Facebook ad budget
You choose your budget which is the amount of money that you want to spend daily or over the course of the campaign . know that you can always edit this amount later. You should also set a bid which is the maximum amount that you can pay when someone sees your ad.
The factors on which Facebook advertising cost depend
There are some main factors that can have an influence on Facebook advertising cost. These factors are as follows:
- Ad objective
- Bidding type and amount
- Ad quality
- Your industry
Facebook advertising objectives
If the objective of your ad is to get traffic to your website, Facebook will choose the type of audience who click on a lot of ads. On the other hand, if your objective is to get leads, Facebook will choose the the type of audience most likely to convert.
Will audience effect Facebook advertising cost?
The answer is a yes! The type of audience yo choose to show the ad to can effect Facebook advertising cost. The worst part of selecting the audience is that there are 350 different types of them and it sure will take a long time to figure out which type of them to choose or combine.
What you get from Facebook ads
there are two main things you can get from a Facebook ad. You will get the ability to reach a certain number and type of people. You can get as many results as you want. This all depends on your budget and your bids.