How much does it cost?
Facebook advertising can actually be cheaper than Google AdWords while at the same time being more effective. Both services are similar in both their pricing and their auction-style pricing structure. So figure on anywhere from $0.01 to $1.00 per click or per thousand impressions.
With your ultra-targeted market ads, there will be far less competition. In many cases perhaps no competition at all. So you can stay toward the lower end of that range in your bidding and still be successful at winning the bids.
Facebook will even tell you how many people are in the ultra-narrowly defined demographic you create. So you’ll know up front how many potential prospects there are who might see your ad and what it will cost you to present it to them.
As of this writing, social ads are so new that pricing is still in flux. So is targeting ability. It is widely expected that social ads will cost more than market ads. Whether or not their effectiveness warrants the higher price remains to be seen.
Is it really worth it? Won’t people just get annoyed?
I mentioned before that Facebook is all about people sharing what interests them. If you’ve correctly identified what interests someone and show them something that specifically relates to their area of interest, of course they won’t feel annoyed by that!
If you’re an avid golfer and every time you go online you get bombarded with ads for student loan financing, cheap Canadian Viagra, home mortgage refinancing… and then you see something about the specific brand of golf clubs you admire and not-so-secretly wish you owned, that is something that would stand out.
It’s time for your business to stand out!
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Facebook advertising can be cheaper (and more effective) than AdWords.