Facebook ads have been a revelation when it comes to creating some of the coolest ADS at the cheapest price. Not only do they offer various options, but they also help you dig deep into the data. As you dig deeper into the data, your marketing campaigns can actually be much more targeted to the right audience.
The right audience, segmented in the right niche will only help you generate higher ROI. The idea behind this is quite simple. With digital marketing for every impression on an advertisement, you need to pay a certain amount. So, if the advertisement is being shown to the right audience, then you will need to pick quite a lesser amount compared to what would have been previously.
Facebook ads work in the concept of hyper-segmentation. It drills down deeper into the customer behavior, thus enhancing the reach of your advertisement.
In this article, we look into some of the important tips when it comes to Facebook ads and how the costing is done for the same.
Benchmarking the cost
Benchmarking the cost becomes quite important while you are creating an advertisement campaign. Digital Marketing is a very dynamic space, so unless and until you go ahead and create that ad campaign, it will be quite difficult for you to know how much it will cost.
For this reason, benchmarking plays an important role. There are many marketing agencies that continuously work on benchmarking. Well, there is no clear data regarding the same, but a few of the data that could have been extrapolated go as follows:
With the average cost per like being $ 0.23 & the cost per installation being close to $2.7 in the US, we can assess the wallet size based on our end-term goals.
Moreover, it is also important to understand that the various parameters will change based on the geographic locations.
For example, the cost per click in Australia is higher than the cost per clicks in the US. Australia seems to have the highest cost per click rate when compared to others.
Similarly, it is quite difficult to get your post liked in Germany. With Germany ranking the highest in costs, it is quite evident that you need to have a bigger wallet size if your target country is Germany.
If your end goal is the installation of a particular application, then the US seems to be the highest bidder in this category. With the cost for installation of close to $2.74, it is undoubtedly the most expensive country when it comes to installations followed by Japan.
Understanding the auction process of Facebook ads:
The auctioning process of Facebook ads takes place using three important criteria.
- The interest that the business has towards showing a particular ad to someone.
- The relevance of the ad for a particular user, along with the quality.
- Likelihood of a user going to perform a particular action.
A combination of all the values will further decide the right reason for showing your ad.
Suppose that the highest bid is $5 and the second-highest bid is $4. Then you need to pay $4 and not $5 in order to get your advertisement displayed. Basically, just pay enough to keep your head over the water.
Facebook advertising agency in Melbourne has been quite vibrant in providing the best solutions to the digital marketing campaign. With their awesome targeting techniques and immense market knowledge, they have given encouraging returns for businesses. Facebook Ads depend on numerous factors and they have been able to incorporate all of them in their campaigns. So, if you still haven’t tried out their services, it is recommended to try them out.