Table of Contents
What Determines The Cost Of Facebook Ads?
The cost of Facebook advertising can vary greatly and be difficult to calculate precisely. According to a 2019 average calculation, it costs between THB 4 – 40 per click, depending on campaign type. These figures, however, are subject to change and should thus be regarded only as a general average.
Your price is determined by a variety of factors, which you will learn about in this article, making it easier for you to set a budget for your Facebook advertising.
As with Google advertising, Facebook advertising works like an auction. This means you are competing with other advertisers who are all vying to be the most visible to the same audience. The cost is calculated on a per 1000 exposure basis (CPM).
If you have a lot of competitors, your Facebook advertising cost will be high, but it will also be low if you don’t have as many. It is critical to remember that you may be competing with a large number of companies, even if they are not in the same industry as you. Different companies in various industries can easily target the same people.
The cost of Facebook advertising is determined by the type of campaign you select as well as the marketing goal.
Below you can see the different campaign types:
You can specify the goal of your campaign in terms of knowledge, consideration, and conversion here. If your company is brand new, it’s a good idea to prioritize knowledge and consideration. Once you’ve generated a lot of traffic, it’s time to shift your focus to conversion.
To get the most out of the money you’ve decided to spend on ads, it’s critical that you choose the right type of campaign for your goal. If you pick the wrong one, you may quickly find yourself paying more for advertising than you should.
You can keep track of all Facebook ads that are currently running by visiting the Advertisement Library.
Find Your Target Audience
To create the best campaign, it is critical to understand its target audience. If you are looking for knowledge, it is best to broaden your target audience. You can find your target group here based on more general criteria.
If you go after conversion, for example, your target audience could be existing customers, with the goal of convincing them to make a purchase.
Facebook ranks advertisements based on their quality and relevance. If your ad has a high relevance score, your price is lower than if it has a low relevance score. If you create ads that your target audience enjoys and responds to, your relevancy score will be high.
Other Factors That Influence Your Facebook Advertising Cost
The cost of your Facebook advertising can be influenced by a variety of factors. It could be the industry you’re in, the time of year you choose to place the ad, or how quickly you want to see results.
Another factor that influences your price is whether you want to create your ads yourself or seek professional assistance from an outside online marketing agency.
IBEX Media Group can assist you in generating results and attracting new customers through targeted Facebook advertising, which we have experience with in a variety of industries. We are Facebook advertising experts who can provide you with a rewarding end result. Contact us to learn more about the costs of Facebook advertising and how we can assist you.