Facebook has turned out to be an excellent medium for marketing campaigns over the last few years. Advertisement on Facebook can offer almost comparable results that Google Adwords can offer. You can set your campaign budget as low as $5 in a week and also as high as $50,000 in a week.
There is a certain type of advanced ad that may need a certain minimum amount to be spent for it to work. When you are going to create your ad then the same will be notified to you.
FaceBook advertising Melbourne can also be done through an experienced agency called Australian Internet Advertising, which has necessary expertise to manage all types of online campaigns successfully at a very reasonable cost.
The basics of ad cost
You can define the cost for the ad in 2 ways:
- Overall amount spent by you
- Cost of each result what you will get
You may control the total amount spent out of your budget. Through your bid strategy, you can control your cost for each result. Besides that, there are a few other ways to make sure that you do not spend more than what you want to spend by controlling:
- Campaign spending limit – You can set the maximum amount that you are ready to spend on any given advertising campaign for your brand.
- Account spending limit – You can also set the maximum amount that you will be ready to spend across the entire campaigns that you are running.
What will decide Facebook advertising costs?
Almost like Google Ads where the cost of pay-per-click (PPC) advertising, in Facebook too it depends on a variety of factors. If you are interested to build your realistic budget for the business, then you must understand how all these factors will influence your cost of Facebook ads.
The following are the 8 factors that will decide the cost of your Facebook ads:
On your Facebook advertising costs, your target audience can make a substantial impact on the costs of your Facebook advertisements. It will depend on what specific age group, gender, and also interest you are targeting.
Based on these factors, you may expect in your expenses for advertisement.
- Ad Budget
Whatever may be your budget, it is going to make an impact on how much will it cost for Facebook advertising. In case you are setting a budget of say $200, that will affect your ad bids, performance, and also the overall results of the social media advertising campaign.
- Ad Bid
Also, your ad bid will impact the cost of your Facebook ads. There are few bidding strategies that Facebook offers:
- Lowest cost bid strategy – This can help your business to achieve the minimum possible cost per click.
- Target cost bid strategy – This works to reach the desired cost per click.
- Ad Objective
While creating an ad on your Facebook, you have to choose any one of the main ad objectives as follows:
- Ad Placement
Your ad placement can also shape the Facebook ad cost. With Facebook, there are 6 spots where your ads may appear:
- Instagram Stories
- Audience Network
- Facebook right column
- Facebook desktop newsfeed
- Facebook Messenger
- Ad Quality
Your quality and relevance of the ads (as will be rated by Facebook) can also affect the cost of your Facebook advertising for your business. In case if you create your ads with very high relevance and also engagement score, then you may see lower ad costs.
During the peak shopping seasons, all businesses will like to spend more on their advertising. Due to the increased demand for space for an ad, it will create a competitive market, which may lead to certain aggressive bidding and bigger campaign budgets may inflate the advertising cost on Facebook.
Your average Facebook ad cost is $0.97, and you can gain a little more insight into the expected costs for Facebook advertising by looking at the basic average price of any Facebook ads for your type of industry.
This data can offer a much more accurate estimate, and that can help your team to build your marketing budget on social media.
We hope with all these details, you can set your budget for your next campaign on Facebook.