Facebook ads are a highly efficient way of promotion for a business, which has the ability – by leveraging the tools offered by the platform – to attract a highly targeted audience. However, planning and implementing advertising campaigns on Facebook is not a simple task. It requires specialized knowledge and experience if one wants to achieve the best result at the lowest possible cost. Precisely thanks to the digital tools offered by Facebook, a brand can “run” advertisements that will be addressed to a very
specific audience, with predefined features – gender, age, educational level, profession, interests – setting the desired budget each time and at the same time having the possibility at any time to control efficiency of an advertising campaign, proceeding with corresponding interventions. However, the competition in the case of Facebook Ads is high, as more and more brands are investing in this versatile digital tool. Consequently, in order for an advertisement to achieve the expected result, it must be designed with reverent care and follow modern trends. However, what concerns most professionals is undoubtedly the budget. “How much does a Facebook ad cost?” is the main question that most people ask, every time they contact an agency and request corresponding services. The following guide will help you answer this question comprehensively and comprehensively. 1. Start by defining the goal 1.1 Promote your page 1.2 Promote a post 1.3 Increase traffic 1.4 Increase interaction 1.5 Ask for an action 2. Create a corresponding budget 2.1 Daily Budget 2.2 Life Budget 2.3 How much to spend 3. Emphasize the creative part 4. Understand how it works 5. Study efficiency 6. Invest consistently and continuously Practically and in a simplified sense the answer to the question “how much does a Facebook ad cost?” it is particularly short and concise: you decide! It’s a decision that’s different for every business, and there really isn’t a one-size-fits-all answer that applies to every brand. On the contrary, each company draws up its own strategy and invests in corresponding actions that it estimates will yield the desired result. However, there are some – crucial – steps that if followed faithfully will lead to the smartest decision about how much money to spend on a Facebook Ad.
1. Start by defining the goal
The first thing you need to do is determine the goal of your advertising campaign. Why do you want to go ahead with a Facebook advertising campaign? Is your goal to attract more followers to your business page? Promote a specific post? To receive messages from Facebook users or to persuade users to make a purchase of a product or service. The platform itself has corresponding options, which allow you to define the goal of your advertising campaign from the beginning. However, this is not only a decision of practical interest, but also essential. Every promotion should have a clear goal from the start, so you can then check whether that goal has been achieved, to what extent and at what cost.
1.1 Promote your page
Aiming to promote your page your ad will be designed in a way to show to users and convince them to click the ‘Follow’ button and become your followers.
1.2 Promote a post
If your goal is to promote a specific post of yours then you need a Facebook Ad which will increase user interaction with your posts. That is, it will prompt them to leave a comment, share or select one of the available “reactions” on your post.
1.3 Increase traffic
At the same time, the goal of a Facebook advertising campaign can also be to increase traffic to your website or eshop. The ad you will design will prompt users to leave Facebook and follow a link that will lead them to your website. The goal is to convince as many users as possible to click on your respective link.
1.4 Increase interaction
If your goal is to build an interactive relationship with your audience and receive more messages from Facebook users, your ad will be tailored to encourage them to message you.
1.5 Request an action
Accordingly, the goal of an advertising campaign may be to get users to take a specific action you want, such as making a purchase or downloading an app. In this case your ad will be tailored to get as many users as possible to complete a desired action.
2. Create a corresponding budget
Having determined the goal of your advertising campaign you can then determine the desired budget you are willing to spend. In general, on Facebook we distinguish two different types of budgets: daily and lifetime.
2.1 Daily Budget
In this case you set a certain amount you are willing to spend each day on your Facebook ad. The platform sets a threshold, however, depending on the capabilities of each brand and the expected goal, it is good to set your own daily budget. Businesses that plan an advertising campaign that will “run” for a long time or until the desired goal is usually resorted to this logic. For example, you can define that you are willing to spend every day 2 euros, on a Facebook advertisement that will aim to increase your followers and which will remain constantly active.
2.2 Lifetime Budget
Unlike daily, lifetime budget is about a predetermined budget for advertising spend, for as long as your campaign lasts. You define from the beginning a certain amount that you are willing to spend to achieve your goal and your advertisement “runs” without exceeding the budget. Usually, in this case you have for example a specific offer that you want to promote for a period of 15 days or a month and you have predetermined the amount you can spend on a corresponding Facebook Ad.
2.3 How much to spend
However, how much money you will spend, whatever kind of budget you prefer, is a purely personal decision. What you need to keep in mind is that you will need a decent amount of money if you want to see any serious results, and that Facebook advertising is an investment and should be treated as such. The more money you invest in advertising campaigns, which you plan and implement correctly, the more you increase your profit. Don’t forget that Facebook Ads offer measurable results and a series of detailed and detailed statistics, allowing you to make changes while enjoying even better results for your campaign.
3. Emphasize the creative part
However, for a Facebook ad to be effective, it is not enough to focus only on how much money we will spend, but also on the creative part and how attractive the campaign we plan is. Invest in clever wording, original graphics and multimedia like videos. Design an advertising campaign that includes attractive messages. After all, your goal is to attract the attention of users and convince them to take an action for the benefit of your brand. If the advertising you “run” lacks inspiration and creativity, then it is very likely that the money you spend – no matter how big the budget you have – will not bear fruit. On the contrary, an ad on Facebook that will be characterized by originality and will be inspired, is very likely to turn into a “gold mine” for any brand, even if the available budget is noticeably more limited. After all, this is one of the reasons why you should contact an agency that will undertake to study the audience you are addressing, examine the type of advertising that best suits your goal and
create authentic and original advertising messages, which will be a pole of attraction for Facebook users. At the same time, an experienced professional is able to propose drastic interventions and changes, always with a view to optimizing the results of each advertising campaign. Therefore, it can guide you as to whether, for example, a video you have integrated into your ad campaign is delivering the expected results, or it would be more cost-effective to replace it with a static image.
4. Understand how it works
Facebook ads are constantly evolving. Every now and then the popular social networking platform announces the addition of new tools, which offer additional features to each brand. However, it is very important to understand how ads work. Simply put, understand when and why Facebook charges you for the viewing services it offers you. The more methodically and carefully you plan your advertising campaign, the more you increase the chances of achieving the maximum possible result at the lowest possible cost. It is equally possible, however, in the event that you do not understand the billing method correctly, that you will be asked to pay a not inconsiderable amount, without receiving the corresponding response. This is another reason to turn to an agency and a professional who knows how Facebook’s algorithms work and will proceed with targeted and intelligent moves.
5. Study efficiency
For this very reason it is equally important to be able to study the efficiency of your advertising campaigns. Facebook places great importance on the detailed reporting and reporting of statistics that accompany each promotion. What is the profile of the users who click on your ad? Are you more attracted to men or women? Do users respond better to videos or text-only ads? Answers to these types of questions can be obtained by carefully studying the performance of your advertising campaigns. You can then get valuable insights into which promotions are performing best and invest in them, or see which ones aren’t paying off and consider ways to improve. A smart and highly effective way to improve the performance of your Facebook advertising campaigns is to “experiment”. You can “run” 2-3 different campaigns for a reasonable period of time and then study their performance. By making comparisons and evaluating the statistics you will receive from the platform you will then be able to formulate new Facebook Ads with better targeting and noticeably improved performance.
6. Invest in consistency and continuity
Facebook ads can be likened to running a marathon. It is not a race, but comprehensive promotional interventions that require consistency and continuity. The more you invest in advertising campaigns, the more spectacular the difference you will see in achieving your goals. If, for example, you aim to increase the interaction rate with your users, it is certainly not enough to design and “run” a Facebook ad for 1 or 2 months. On the contrary, you must realize that the ads aimed at increasing the engagement rate on your posts are part of your brand’s digital marketing strategy. The most prudent – and effective – is to set a specific budget that will remain available for a long time. As with traditional advertising, in the case of Facebook ads, advertising costs must be included in the operating costs of a business. For this very reason you will need a comprehensive campaign, which will include different advertising campaigns. Invest in leveraging Facebook Ads to strengthen your presence on social media and at the same time build a strong brand name.
The need for promotions never stops, and this can easily be seen if you consider the fact that popular and established brands continue to spend large sums of money on designing and implementing Facebook ads. Maintain consistency and continuity over time and place great emphasis on your adaptability to any trend or new tools offered by the popular social networking platform.
Choosing a reliable partner
Facebook advertising is part of a company’s digital marketing strategy, but it takes an organized team to plan and execute it properly at all levels. A digital marketing agency, such as webone, has the experience as well as the appropriate tools to undertake the promotion of your company on Facebook.
Let us know about your business needs in terms of advertising and marketing and we will suggest solutions that suit your needs.
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