I experiment with Facebook advertising. Today I will share with you one of my experiment with advertising on Facebook.
Facebook advertising has taken a big leap recently but when trying advertising on Facebook you have to come out of Google Adwords mindset. CPC or Cost Per Click model is not the right kind of model on Facebook for you as an advertiser and Facebook both. I am sure you can understand why CPM ads are better for Facebook because websites prefer ads where they are insured of payment even if no one clicks on them but now you may ask how this is right kind of advertising for you as well.
Let me answer this question with an example.
Let us say that you have an ad campaign in Facebook where you pay $0.10 per click. This is the minimum you can pay for your campaigns in Facebook.
Now let us do some mathematics.
If you have CPC ad campaign in Facebook and you have a very nominal CTR of 1% for it. For 1000 impressions you generate 10 clicks and so your effective CPM becomes $1.
For CPM campaigns in Facebook you can opt for an eCPM as low as $0.5. You can opt for such low eCPM because this insures Facebook money even if your ads do not generate any clicks. Now if you can generate same 10 clicks for the same ad as in CPC model you are actually paying half the price you paid for CPC campaign.
This is not all.
If you can increase your CTR (which you always need to be doing in CPC advertising model) you actually do not pay anything more to Facebook because you have opted for a CPM ads and not CPC ads and this actually can reduce your cost per click dramatically.
Now the biggest question we are left with is how we can Increase ad CTR in Facebook?
One of the single biggest factors in Facebook ad CTR is the image being displayed in the ad. The image is what is going to catch the eyes of your viewers and so it is one of the biggest factors to increase your CTR.
The next is obviously the headline and text for your ad.
Apart from that Facebook advertising allows you to target your campaigns VERY well, far better than Google Adwords. You can target your campaigns to 18-25 year old photographers in Australia. It’s all about knowing your potential customers and showing your best ads to them. If you understand the market of your potential customer’s chances of conversion also increases giving you better return on your investment.
Further Reading …