Facebook ads are known for leveling the playing fields. This is because any business can utilize Facebook ads for bagging the customers and scaling the business. According to stats, 1.6 billion people are connected to small businesses through Facebook pages. But hey, how much does it cost for advertising on Facebook? It’s a tricky question, and we have the information for you!
There is no solid answer to the question since multiple variables have to be factored in. The Facebook ads can cost from $10 to 70 cents, respective to the situation. So, how are you going to assess the marketing costs before you dive into paid advertising? We will help you for sure!
Generally, the companies tend to pay anything from $200 to $1000 for paid ads on Facebook on a monthly basis. However, the paid advertising costs can be higher than $1000 and lesser than $200, depending on the business’s scale and size. For instance, the high-scale businesses are likely to spend more than $5000 while the small-scale businesses will spend a maximum of $100.
This is because Facebook ad's price depends on the business scale. The average costs are only mentioned to provide the rough estimate; it doesn’t mean that you’ve to spend this amount always. However, spending this range of costs will deliver competitive results from paid advertising. Bear in mind that the costs will never determine the campaign's success, but has a benefit for sure.
For instance, with larger paid advertising budgets, the businesses are entitled to pay more for higher ad clicks. Consequently, the higher ad clicks will lead to higher revenue generation and better conversion.
We have already identified the average monthly costs for Facebook advertising. It’s equally important to understand different factors that can influence these costs, such as;
The target audience is responsible for shaping the advertising costs on Facebook in multiple ways. To illustrate, the audience can increase and decrease the costs, respective to the features. It’s best to establish a concise and precise audience base rather than creating a broad audience because it optimizes the target audience and lowers the advertising costs.
The advertising costs are widely influenced by the monthly budget allocated for advertising. This is because the huge budget offers flexibility in the ad strategies. However, if the advertising budgets are lower, effective results can be established, but it will demand more precision in the advertising strategies.
The ultimate goals of the advertising campaigns will influence the costs. Usually, the goals include conversion, consideration, and awareness. Generally, the conversion goals will lead to higher costs as compared to awareness goals.
Facebook has multiple properties, such as audience networks, Facebook, and Instagram. That being said, the ads are placed on these platforms, and the costs will be influenced by it. Businesses can automate the ad placement or manually select the ad appearance platform. All in all, whichever platform you choose will impact the advertising costs!