how much do facebook ads cost 2017

Buying Facebook Ads. How Much Do Facebook Ads Cost?so how much do facebook ads cost well,the answer

Boot Camp Digital

Updated on Jan 22,2023

Buying Facebook Ads. How Much Do Facebook Ads Cost?

so how much do facebook ads cost well,the answer unfortunately is it depends,well what does it depends on Facebook,ads like most other online ad platforms,work off of supply and demand,so it's an auction-based process in,addition the ad is also judged on the,quality of the ad itself let me step,back and explain all of these concepts,so you understand how the ads are paid,for on Facebook the first thing that ad,prices depend on is the supply and,demand every time somebody's used a,Facebook page in real time in actually a,fraction of a second a supply of an ad,is created so every time you go to,Facebook and hit that home that newsfeed,button you're creating supply in that,Facebook now has an ad impression that,it could show to somebody that supply is,then weighed against the demand,how many advertisers want to reach that,specific person so supply and demand is,basically about the number of,impressions generated on facebook more,often more people go to Facebook the,higher the supply is which would then,lower the price and the demand the,number of advertisers that want to,advertise to the specific person you're,trying to reach this is why the more,targeted your ads are the more expensive,they may be for example if I want to,target a women a woman between 28 and 30,who enjoys cycling likes yoga and is in,the market for a car my supply is going,to be really small so I have a really,small supply and the demand could still,be rather large because that person also,fits into a variety of other,demographics so I typically will pay,more so supply and demand isn't just a,function of advertisers and how busy,facebook is it also can be impacted,things like by things like you're,targeting choices this is what,determines essentially the price that,you will typically pay for your ad,but that's not all Facebook will we'll,look at the bidding system based on the,auction so the way that that works is,that if 10 different advertisers all,want to reach me when I first load,Facebook Facebook will give that,impression to the person who's willing,to pay the most money so if there are 3,advertisers who want to advertise to me,one of them's willing to pay fifty cents,one's willing to pay $1 and one's,willing to pay a dollar fifty the,advertiser who's willing to pay the most,in this case a dollar fifty would win,the auction but they wouldn't pay a,dollar fifty they would pay one unit,higher than the next highest bit so if,one bid was 50 Cent's one was $1.00 and,one was a dollar fifty the person,willing to pay 150 would win but they,would pay one dollar and one cent so,they would pay just above the next,highest bid so in this way the first,factor that determines how much your ad,costs is the auction which again is,based on supply and demand but it's an,auction based on how much you're willing,to spend the next thing Facebook may,look at is the estimated action rates,what the action rate means is that let's,say I'm looking to only pay if somebody,comes to my website and takes an action,Facebook knows that in order to get,someone to come to my website and take,an action they may need to show that ad,to 10,000 people so they would take that,into account when they price out my,specific ad so if you're paying for,anything more than just an impression or,just for someone to see your ad it'll,also depend on the estimated action rate,what you'll end up paying finally,Facebook will look at what's called user,value in determining the final price,that you pay for an ad user value can,often be estimated through something,known as a quality score it basically is,how much do people like your ad and the,reason that this is important is for a,few things first of all Facebook doesn't,want to annoy people too much because,they'll spend less time on the platform,so Facebook shows me all sorts of,completely irrelevant ads what will,happen over time I'll spend less time on,Facebook but Facebook is smart and they,want to keep me there so,book will try to show me ads that are,most relevant to me if I seem to like,your ad based on the signals I sent to,Facebook maybe I click the like button,maybe I just stop and spend a little,more time with it I don't give negative,feedback I actually take the action that,Facebook wanted all of these things,suggest that it's a good quality ad and,Facebook will prioritize high quality,ads because they want users to have a,great experience so when the question,comes up how much did Facebook Ads cost,it depends the price you paid today,would probably be different than the,price you'll pay tomorrow even if,nothing else changes in the way you're,purchasing the ads what this means is,that you typically will set your budget,for what you're trying to achieve so I,may say well I'm gonna set a lifetime,budget of $500 that I'm willing to spend,this month so I could set my budget for,the lifetime or I could say you know I'm,willing to spend five bucks today and I,want to spread that out over five days,so I can choose to cap my spending,either on a daily basis or on a lifetime,basis for my ad and I can also choose,the maximum I'm willing to pay for any,particular action so I can say you know,I'm only willing to spend up to two,dollars a click or I can I'm only,willing to spend up to $10 a click or a,dollar but the reality is you can set,maximums in there as well so unlike,going to the store and buying a pair of,jeans that have a set price or buying,television ads which typically have a,set price your price on digital ads,including Facebook will be variable,based on these factors this is why,digital ads are often optimized over,time because there's a lot of factors,that we can play with to optimize both,the price and the results that we get,from our ads

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How Much Do Facebook Ads Cost? Here’s The Answer…

How Much Do Facebook Ads Cost? Here’s The Answer…

how much do facebook ads cost this is a,very difficult question to answer,primarily because there are so many,factors that can affect your facebook,advertising cost so before I dive in I,want to give you kind of a brief,overview of how the Facebook advertising,platform works it basically operates as,an auction there's a certain number of,advertising spots available because,Facebook doesn't want people to only see,ads so for those spots you have to bid,against your competitors to get them if,you have no competitors lucky you if you,have a lot it's going to drive prices,way up now based on data from over 10,million dollars of advertising revenue,I'm going to go through with you on the,major factors that influence your,Facebook Ads cost and what you can do to,reduce them number one your objective,Facebook makes you pick an objective,before you take any further steps in,your advertising campaign and your,objective depends on your goal do you,want a lot of people to see your ad for,brand exposure but it doesn't really,matter who clicks or do you just want,clicks and want people to come to your,website so you can retarget them later,do you just want leads you want people's,emails or do you want sales today or in,the long term as you can tell there's a,lot of variability there depending on,your goals and this directly influences,your cost All Things Considered we,suggest only focusing on one objective,per campaign that way it's streamlined,and you know whether it's going to work,or not number two your audience we deal,with a ton of data so we do have those,averages that everybody wants to know,when people ask how much do Facebook ads,cost they always want the black and,white answer so I'll go ahead and give,you the black and white answer these are,the averages of the cost here's the,country averages the age averages and,the gender averages,if you want all the averages from 2015,go in and grab this ebook you'll be able,to nerd out and you'll be able to say,hey I'm better than average or worse,you also have audiences based on,interests which is basically things you,think your audience will like in,addition to that you'll have custom,audiences which are basically warm,audiences people have interacted with,you before they visited your website,they're on your email list or their even,your previous customer make sure you,upload your audience to Facebook and,exclude it no point in raising your cost,by targeting people who you already,liked or bought from you number three,add quality and relevance higher your,relevance score the less you'll pay,Facebook directly confirmed this forest,in addition to that we did our own,experiment we tested an ad with a,relevancy score of 8 versa relevancy,score of 2.9 the ad with relevancy score,of 8 performed four times better than,the one of 2.9 with the exact same,budget you also want to watch for,frequency frequency is the amount of,times the same audience or individual,sees your ad on average when people see,your ad too often this means two things,your audience isn't big enough and,people aren't converting who are seeing,it you don't want to go above relevancy,score of three now there are exceptions,to that rule but all things considered,once somebody's seen your ad three times,and they haven't converted it's time to,split test and try something new split,testing involves speaking one variable,and seeing if changing that can result,in a change in conversion clicks or,optimization number four ad types,there's so many different types of ads,on facebook over ten as of this video,and you want to choose the ad type kind,of based on everything we've talked,about so far your objectives your,audience and your relevance so if you're,looking for leads you want lead ads if,you're looking for more interactions and,website visitors maybe you want carousel,ads if you just want to drive brand,awareness,maybe video ads all of this depends on,who your audience is and what objective,you're going for there's no,one-size-fits-all approach to this it,involves a lot of testing and a lot of,trial and error I know everybody who,watches this just wants one concrete,answer so for that I'm going to tell you,one if you're going to pick one ad,placement with one objective,I suggest desktop right column,for those who you're retargeting in,other words your email list your,previous customers so you want to buy,again or your website visitors number,five time of year there are certain,times of year where advertisers flock to,Facebook it's during these times there's,a lot of competition for bidding and the,cost of Facebook ads will absolutely,soar think about the Superbowl and how,much it costs for an ad then it's the,same for things like Black Friday Labor,Day or any holiday sale in 2015 in,November and December some small,businesses were complaining that they,couldn't even spend their budget because,of all the competition going on,so hopefully this answered your question,about how much do Facebook ads cost I,know it's not so black and white but,make sure you download that free ebook,with all the graphs on the basic,demographic data it's everything from,2015 and based on ten million dollars of,advertising spend now remember it's all,different depending on your industry or,business so measure things measure your,results make sure you separate out your,campaigns based on objectives and make,sure you separate out those audiences ad,copy and imagery you want your ads to be,relevant and you want the frequency to,be low so with that said I'll see you,soon until next time ciao

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