how much do facebook ads cost 2019

How Much Do Facebook Ads Cost? Specific 2019 Data Revealed For FB Advertising Costs

hey miles here miles Becker calm in this,video you're gonna learn the answer to,the question how much does facebook,advertising cost this is one of the most,common questions I get on my videos that,I have that will teach you exactly how,to set up a Facebook Ads campaign but a,lot of people want to know miles how,much is this going to cost so we're,gonna look at this and break it down in,three specific lenses first we're gonna,look at the different variables that,manipulate and change the cost because,it is an auction-based platform number,two we're gonna look at some kind of,well-known studies they have some big,broad averages and then number three,we're gonna look at my actual data from,2019 only as of this recording it's the,end of April I spent about twenty-two,thousand dollars of my own money at this,point in 2019 alone so you'll get to,know how my numbers stack up to those,other studies but first what are the,different variables because ultimately,Facebook is an auction which means that,if you are targeting the same individual,that I am targeting we are literally,bidding against each other so whoever is,willing to spend more that's actually,where that cost goes to so what this,means is that someone who has a very low,customer value let's say a yoga studio,for example they might be able to sell a,hundred and fifty dollar per month or,maybe it's a $99 per month all-access,pass where as a DUI lawyer might make,five thousand or seven or ten thousand,dollars per customer so obviously those,individuals who have higher customer,values are going to be willing to spend,more and this is what the auction really,this is where the auction comes into,play so a few of the other specific,variables is the time of year,notoriously around Black Friday Cyber,Monday the fourth quarter,costs go up in many specific market,there's a big differentiation in gender,right the cost for displaying your ad -,men vs. women in the age groups there's,a lot of different variations from the,younger demographics to the older,demographics in price the placement do,you want to be in the newsfeed do you,want to be on the right sidebar do you,want to go into their other areas that,they try to force you into that have,terrible costs I only run newsfeed ads,personally what country you're focused,on is it the US and Great Britain and,Australia are you focused on kind of,smaller countries that have less,advertisers,or are you focused on the big four,Canada UK US and Australia how if your,focus on the big four that does drive up,your cost time of day the audience,you're choosing themselves right if,you're going after an audience that's,everyone who likes Oprah,for example versus everyone who likes a,very obscure author that your,competitors don't know about there's,gonna be more competition bidding on,individuals who like Oprah as an,interest-based campaign then there are,these obscure kind of individual,localized authors who might have fan,pages they might have a hundred and,fifty two hundred fifty thousand fans,that you could target but since very few,people know about them you can get a,much better deal when you really dive,deep into your targeting and then the,relevant score Facebook is monitoring,your advertisement and they're trying to,gauge is your advertisement creating a,good user experience in the eyes of,those who are viewing your ad if you are,you can actually get higher quality,individuals seeing your ad out of your,audience and you can get a lower cost,per click if you're creating a negative,experience to where you get a lot of the,angry faces a lot of people reporting as,spam they're actually gonna drive up,your cost so you will actually pay more,for the same placements compared to,someone who has a very high relevance,score so those are the variables and you,know your unique solution or your unique,answer to the question is really kind of,fundamentally based on all of those,different variables and luckily you,don't have to think about it too much,you just set up your ad and get it,running if you've never set up an ad,before I have a video that walks you,through the process step-by-step of,getting an ad campaign going,I'll have that pop up above my head here,so if you want help getting your first,campaigns out lunch just watch that I,show you over the shoulder on my,computer how to get that set up let's go,deeper into the costs so we're next,gonna look at a few of the third-party,studies that have been out there,HootSuite did a study ad espresso has,done a study Salesforce has done a study,and word stream has done a study now,these companies some of them are tools,that help advertisers advertise on,Facebook so they're able to really look,at the data of what their advertisers,are running because it's like a third,party kind of a layer of a tool on top,of Facebook advertising I don't use,those and I don't recommend those at all,but it's a good way for them to get lots,and lots of day,and then from Salesforce workstream,they're doing more interviews and,they're doing more just research based,kind of data points so on these,different ones there's two ways that,people pay cost per click and cost per,thousand impressions cost per thousand,impressions is called CPM cost per click,is often called CPC and depending on,what type of campaign that you put,together you're probably either gonna,pay CPC cost per click so you pay every,time it clicks or you'll pay based on,thousand impressions if you're doing,like an engagement campaign or if you're,doing a conversion campaign you,generally will pay cost per thousand so,we're gonna look at both of those,metrics from my stuff and from these,third-party so what are the numbers on,the cost per click the averages that,they saw was 97 cents per click on,average a dollar 87 percent on average,and a dollar 72 on average so that's,three different studies and their range,was between 97 cents and a dollar 72 so,the average of those is somewhere around,dollar 40 or so if you were to average,those three studies together on the CPM,the cost per thousand impressions their,numbers came in at 12 dollars and 80,cents nine dollars and 82 cents and,seven dollars and 34 cents so if you,average those out it would be somewhere,around 950 or so so the averages on that,is about a dollar forty cost per click,and about $9.50 CPM or cost per thousand,impressions these are really low costs,still to this day compared to Google and,compared to a lot of traditional,advertising but with that said the costs,have been climbing quite regularly now,for me my numbers are very very,different which is why I wanted to share,my numbers with you because I find it,super interesting now I have been a,proponent of doing lots of research,within the audience insights tool now,I'll link to that video above as well,it's a research tool that you have,access to as an advertiser that you can,use to really go find those more obscure,interests to target because if you're,targeting what everyone else is,targeting Tiger Woods and Tony Robbins,and Oprah and these big-name people who,everyone knows of there's gonna be more,competition but if you really dig down,and you find those more obscure,individuals that you can target this is,really,where you can stand out this is a huge,benefit for niche marketers and that's,what I teach that's why my numbers have,changed a bit I do believe so for me out,of spending $22,000 in the first four,and a half months or so of the year I've,got an average overall of seventeen,cents per click so my average cost per,click is literally 17 cents my average,cost per thousand impressions is fifteen,dollars and 32 cents so what I'm doing,is I'm paying more for the impressions,right so I'm actually paying more but,I'm getting a much lower cost per click,which theoretically means that my,copywriting is more engaging than the,averages of what we saw from those,bigger studies right I've been a student,of copywriting for years and years I,highly recommend that you are a student,of copywriting and you always are split,testing to always be improving your,click-through rates your headlines your,offers etc etc over the course of 10,years I've really understood now I get,my audience what they're looking for and,my offer is a reflection of that so I've,got that audience message and market,match working really well for me and,this is something you're testing your,way to and that kind of the benefit is,as you get better at your advertising,your copywriting your costs should go,down on your effective cost on that cost,per click so the range is I want to give,you these two because it's crazy the,different ad sets so I target,retargeting people have been to my,website and who have left I target,look-alike audiences I target interests,and I target my email list a bunch and a,bunch of other audiences hundreds of,different audiences I've targeted this,year and my range is from one penny per,click and this was not a fluke I got,over 1,600 clicks at a penny each all,the way up to 87 cents per click so the,highest click the most expensive click,averaging on a campaign or an ad set,that I've had that I've run is still,lower than all of the averages from all,of the other businesses then on the,other side on the CPM my range was as,low as $3 per thousand impressions all,the way up to $66 per CPM which meant I,was spending 66 dollars every time I add,just simply displayed in front of a,thousand people that's a very expensive,CPM we're getting up in the the area of,more traditional advertise,that has been kind of notoriously put,down for not being a good value anymore,but out of all of this I'm constantly,monitoring to specific numbers within my,business number one what is my cost per,lead I really don't mind if my CPM and,my cpc's fluctuate much as long as my,cost per lead stays within my KPI which,stands for key performance indicator I,know how much I'm willing to spend on a,lead because I know how much that lead,is worth to my business so as long as,I'm under that number I'm good I'm happy,with it,right the actual cost out of pocket I,spend in cost per click and I spend in,CPM but I'm monitoring a very different,metric that cost per lead the other,number I'm monitoring is the cost per,new customer acquisition and if that,number is good that means that I know,every dollar I spend is coming right,back so I can build my funnels and my,campaigns in a way that put a hundred,dollars into advertising and then I get,a hundred dollars out the byproduct is,several hundred leads and all that money,came right back because my funnel and I,put that money right back into more,advertising this is how I've scaled my,advertising over the year and spent,hundreds of thousands of dollars and,generated hundreds upon hundreds of,thousands of leads so that's it that's,the whole big story that's that's the,best I can do on the question of how,much does Facebook advertising cost,because it does depend on a whole,variety of factors I recommend that you,start doing at least four or five $5 a,day ad sets right so you can get going,for about twenty to thirty dollars per,day that's a really good amount to spend,as an overall budget that would be under,a thousand dollars per month and would,give you a lot of activity a lot of,clicks and a lot of impressions so you,can start to split test your calls to,action your headlines your copywriting,your offers etc because it's through,that split testing and refining what,you're doing is where the real magic,happens because once you dial in an,offer an audience and messaging that,works really well and converts you buy,all the traffic in the world through,Facebook through their two billion,active users you could spend more money,than any human I know of has on Facebook,advertising once you get it all dialed,in properly so go forth it's a worthy,investment of time and energy be sure to,check out on the end screen I'll link,you over to the video where I show you,how to set up campaign,using that $5 a day Facebook Ads,strategy if you have questions for me,get at me in the comments thank you for,time and I'll catch y'all next video,Cheers

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