How much does a Facebook advertising cost?
Advertising on Facebook has become a trusted strategy for businesses around the world, with about 7 million advertisers active on the platform. If you are thinking about advertising your company on Facebook, you may have a question: How much does a Facebook advertising cost?
Watch the video below to learn the basics of Facebook advertising, and for more information on the price of Facebook ads, see how much Facebook Ads cost for other auction models, namely Cost-Per-Like (CPL) and Cost-per-Download (CPA).
Facebook advertising costs, on average, $ 0.97 per click and $ 7.19 per 1000 posts. Advertising campaigns that focus on earning likes or apps downloads can be expected to pay $ 1.07 per Like and an average of $ 5.47 per download.
Facebook Advertising Cost
Compiled from an in-depth AdEspresso survey, which estimates Facebook’s advertising costs at nearly $ 300 million, these numbers are just average. Advertising location, target market, industry, and many more factors can make your business more or less Facebook advertising costs.
That’s why you want to use these sums as a reference point, rather than as a standard, for your company’s Facebook advertising campaigns. Otherwise, you run the risk of setting unrealistic expectations for your campaign, which can lead to poor performance and unhappy organizational decision-makers.
What determines Facebook advertising cost?
Just like the one-click payment (PPC) advertising costs in Google ads, various factors affect your Facebook advertising costs. If you want to create a realistic budget for your business, you need to understand how these factors affect the price of Facebook ads.
AdEspresso’s in-depth study of Facebook advertising costs revealed that your target audience can have a significant impact on the price of your Facebook ads. Whether you focus on a particular age, gender, or interest, you can expect a change in your advertising costs.
2. Ad budget
When you start an advertising campaign on Facebook, you set an advertising budget.
Regardless of your budget, whether it is $ 200 or $ 800 per month, Facebook advertising can affect how much your business costs. If you set a $ 200 budget, it will affect your ad auctions, ad performance, and the overall results of your social media advertising campaign.
3. Ad bid
Your ad auction also affects the price of Facebook ads. Facebook offers some bidding strategies, including:
- Low-cost bidding strategy: Also known as automatic bidding, this option allows your business to achieve the lowest possible cost per click or action. It also aims to use your budget efficiently, which is why companies tend to start with this strategy.
- Target Price Auction Strategy: This option, also known as manual auction, works to achieve the desired price for one-click or action. You can only use this technique for app installation, modification, lead creation, or product listing sales campaigns.
4. Ad objective
When you develop an ad on Facebook, you want to select one of the following main ad objectives:
- Brand awareness
- App installs
- Video views
- Lead generation
- Product catalog sales
- Store visits
However, when creating your advertising campaign, it is important to remember the brand awareness and value to consider. If you reach and engage with users in the early stages of the buying funnel, you can develop their interest in your brand and move them further down the sales funnel, resulting in purchases.
5. Ad placement
Ad placement also designs the cost of Facebook ads. With Facebook, your ads can appear in six spots:
- Instagram Stories
- Facebook desktop newsfeed
- Audience Network
- Facebook right column
- Facebook Messenger
When it comes to social media advertising, Facebook offers a competitive advantage with its Instagram rights. Through Facebook, you can easily create Facebook and Instagram ads, which saves your team time.
6. Ad quality
The quality and relevance of your ads (as estimated by Facebook) also affect how much Facebook advertising costs for your business. If you create ads with a high contact and engagement score, you will see lower advertising costs.
The time of year can also affect the size of Facebook ads. During more shopping seasons, businesses spend more on advertising. The increased demand for advertising space results in a competitive market, which leads to aggressive auctions and large campaign budgets, which in turn raises advertising costs on Facebook.
Although the average price of Facebook ads is $ 0.97, you can get more insight into the Facebook advertising costs you expect by looking at the average price of Facebook ads for your industry. This data provides a very accurate estimate that will help your team build your social media marketing budget.
How much does a Facebook advertising cost for impressions?
If your ad campaign focuses on impressions, the average cost of a Facebook ad is $ 7.19. This amount refers to the price per thousand entries (CPM) your company pays when 1000 users view your ad on Facebook.
How Much Does a Facebook Ad Like Cost?
If your company’s advertising campaign focuses on getting likes for your page, the average price of a Facebook ad is $ 1.07 per like. This amount is paid by your company on average to one Like on your Facebook page.
How much does a Facebook advertising cost for app installations?
If your ad campaign focuses on downloads or app installations, the average price of a Facebook ad is $ 5.47 per download. That means your company pays an average of $ 5.47 when a user installs your app.
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