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How Much Do Facebook Ads Cost in 2019?
Facebook Ads are effective for businesses on a budget – but what is that budget?
Chances are you have a pretty clear picture of your ideal customer or business prospect. You know their age, their interests, and their habits. Your dream advertising platform would probably speak directly to them with a message you know will resonate – and not waste time or money on anyone else. When executed properly, paid Facebook advertising does exactly that. That’s why countless business owners ask us, “How much do Facebook ads cost in 2019?”
While the exact cost of a Facebook ad is determined by countless factors such as industry, targeting, pay structure, and reaction to the ad, we’re able to provide you with a good estimate of Facebook advertising costs. WebTek is a Lancaster, PA digital marketing agency that specializes in using paid Facebook advertising to drive traffic and leads for our clients.
We’ll give you an in-depth answer to the question, “How much do Facebook ads cost?”, explain the pricing structure, and even give you sample budgets. If you’re ready to partner with a paid Facebook marketing expert to handle your digital presence, contact WebTek for a FREE marketing consultation.
What Does Facebook Advertising Cost and How is It Charged?
Not only is Facebook marketing an unbeatable opportunity because of the huge audience, but the prices for advertising on Facebook are among the lowest of any paid digital marketing channel.
Digital marketing guru Gary Vaynerchuk has always been an advocate for paid Facebook ads for small businesses — specifically when you compare the pricing to PPC! Memorably, he said:
“When you are David and you are playing against Goliath, you have to do David tactics. And our little slingshot with a rock right now is Facebook ads,”
So, what does Facebook advertising cost exactly?
At WebTek, our Facebook advertising package start between $400 and $600 per month, which includes the Facebook ad spend, detailed targeting, and custom marketing assets and ad copy. See all of our social media advertising plans.
In addition to wondering what Facebook advertising costs, many business owners want to know how they’ll be charged. When using Facebook Ads Manager, you can set how you are charged by the platform based on a few different goals. When you partner with WebTek, we manage your Facebook campaigns to receive the optimal cost per result.
These are 3 most common ways that Facebook charges advertisers:
Cost Per Click (CPC)
Cost Per Click (CPC) – This is the primary way in which marketing Facebook campaigns are organized – and this is the way the vast majority of our campaigns meant to generate leads are run. The cost per click payment system means that you’ll be charged an adjusted rate each time someone clicks on your ad. Generally, these CPC Facebook advertising campaigns are most effective when driving traffic to a piece of content or a specialized landing page.
This Facebook advertising strategy costs anywhere from 10 cents to one dollar per click. Of course, there are always secondary factors that impact the cost, but a healthy cost per click should fall within this range.
Cost Per Thousand Impressions (CPM)
Cost Per Thousand Impressions (CPM) – Alternately called “cost per mile”, CPM is another fairly common style of charging for Facebook ad placement. This style of ad charges an adjustable rate for every thousand Facebook users who view a graphical ad. This strategy is predominantly used by companies trying to grow brand awareness, or by businesses trying to drive local interest in an event or sale.
Video quality is everything on Facebook — Learn more about our video production services.
Cost Per Like (CPL)
Cost Per Like – A fairly niche strategy, businesses have the option to advertise with the intent of growing the number of likes on their page. When running this type of campaign, you’re charged with every click of the blue thumb on Facebook. In all but select cases, we generally advise against using this payment method as a form of business development.
All of these payment methods and goal conversions have their uses, however the vast majority of our clients see business growth through CPC ads. If you’d like to utilize any of these strategies, it’s possible a $400-$600 monthly budget can likely work for you – but talking to one of our expert marketing strategists will help you determine the right Facebook advertising strategy for your business.
What Affects Facebook Marketing Prices?
So you have your answer to your question “what does Facebook advertising cost” — now you want to know why. Facebook sets your price metric based on a few secondary factors – some in your control and others out of it. Here’s what affects the price of Facebook ads in 2019:
One of the most important numbers to know when understanding how much Facebook ads cost. This is a 1-to-10 score that the Facebook marketing algorithm uses to “grade” your campaign. It is based on how people react to seeing your ad and whether they appear to like it. The higher your relevance score, the lower the cost.
Going hand-in-hand with relevance score, if people like, comment on, or share your ad, it tells Facebook that they approve of it. This encourages the marketing algorithm to show it to more people, by reducing the cost per result. The quality of your ad copy and visuals is one of the main ways to ensure people engage with what they see. Discover 9 Facebook post ideas you should be writing.
How Closely Your Ad Matches Your Targeting
When building a paid Facebook campaign, you have the option to use thousands of criteria to find your ideal demographic — this wealth of info is one of the reasons businesses love the platform. The closer your product or service matches the criteria you use, the more affordable the ad for it becomes.
Finally, it seems that some industries simply have a generally higher or lower price to market on Facebook. While this is certainly a result of these other factors and general public interest, it is worth noting on its own. A nationwide study showed that apparel and retail generally have the best advertising costs — while finance and insurance were the most expensive industries to advertise.
While these are the primary methods that Facebook uses to set the price of your ads, there are countless other factors that can influence the price you pay to stay on the most popular social network — and how successful you’ll be there. The best way to leverage this is with an experienced marketing partner.
Determining Your Business’s Facebook Advertising Budget
Okay, so you now have a feel for Facebook pricing in a big picture sense. But what will Facebook advertising cost you — to REALLY help your business grow?
That depends on your business and your goals. These are specific factors that determine how much you should invest in order to see results:
- How Large Your Target Area Is — The larger the area, the more you’ll pay. If you only want to introduce your services to your immediate 10-mile radius, you can succeed with a modest budget. However, if you want to connect to your ideal customers nationwide, you’ll need to adjust your investment accordingly.
- How Niche is Your Product — The more people there are interested in your product, the more people there will be to click your ads. While that’s a benefit since every click represents another chance to convert, this high level of interest also means your budget will disappear faster. So, if you’re selling something everybody will like, pair it with a jumbo budget so you can show it to everybody. On the other hand, niche products and industries often excel on Facebook, since the extremely sophisticated targeting allows you to ONLY serve ads to highly qualified prospects. That means you’ll never waste precious ad spend on someone who has never heard of what you do.
- How Aggressive You Need to Be — Like almost any other form of marketing, the more you invest, the more return you see. If your goals for Facebook advertising are to slowly build brand awareness, you’ll be satisfied with a small budget. However, if you plan to tap into a steady stream of premium leads, you’ll want to invest more, right up front.
Partner with WebTek for Facebook Advertising
You have your answer as to “How much do Facebook ads cost in 2019”. So, are you ready to get started?
Whether as part of a standalone campaign or as a component in a larger digital marketing bundle, we know how to use Facebook marketing to earn huge ROI for our clients. We turn those ideal demographics into real, actionable prospects for our clients every day.
When you partner with WebTek to execute your Facebook marketing, we build laser-focused campaigns that find your ideal target audience, create ads they’ll love, and adjust your campaign throughout the month to ensure your ensures optimal results.
As is the case with everything WebTek, we use Facebook to GROW your business. Reach out for a conversation and a free marketing consultation today.