How much does Facebook Advertising cost?
Finding the cost of Facebook ads is difficult, as the platform offers very little in the way of budget projection tools.
When you’ve run some ads before, you can use previous data to understand budgets, but what do you do if you’re just starting?
The cost of Facebook Ads tends to vary depending on your goals as a business and the targeting you use.
What are your goals as a business?
Sales
If you’re looking to sell a product, you need to think of how much a product costs to make or supply, and then work that out in relation to your cost per sale on Facebook.
So for example:
Your product costs £40 to make and you sell it for £100 on your website, which then costs £10 per sale on Facebook. That means if you want to sell 10 products, you’ll need to spend £100 on Facebook, and so on.
Website visits
If you just want people to visit your website, you’ll need to look at the cost per click, or cost per landing page view. This should range from around 20p to £5 per click, and the cost per click will depend on your industry.
Brand awareness
If you just want your ad to be seen, to gain brand awareness, you should consider using CPM as a metric, which is the cost to reach 1,000 people. This usually varies depending on the size and specificity of your audience. CPM can range from £2 pounds to £20+
Lead generation
Facebook offers on platform lead generation where a user fills out a form and you capture the details. Again, how much a lead costs is dependent on the product and you’re looking at anywhere from £2 upwards.
What targeting are you using?
More specific audiences on Facebook tend to cost more to reach. So for example if you retargeted everyone that had been on your website in the past 30 days with an advert, it would cost a lot more to reach them, as it would to just target anyone in England between 18 and 65.
So how much do I spend?
We appreciate you still may be wondering how much to spend!
We always recommend to start small and scale, maybe £10 a day, and then scale when you get the results you want.
If you’d like to know more about Facebook Advertising, click the button below to arrange a call with us.
