With the ever-growing popularity of social media, many businesses are now starting to move away from traditional media and advertise soley on social platforms. These platforms provide new and exciting ways of reaching your target audience like never before. Let’s take a look at what social media ads cost and how you should budget.
The Budget Fear
So many people are scared to start spending money on social media ads because they are afraid that their competitors have far deeper pockets than they do. This might very well be the truth but social media advertising is still one of your best options to compete with the big guys. You can start advertising on social media for as little as $1 a day and there is no traditional marketing platform that is that cheap.
So even if you are a start-up with a minuscule budget you can still market yourself online and produce leads for your business. Obviously with social media marketing the more you spend the more leads you get however the low barrier of entry makes it a great way to start telling the world about your products.
Cost-Per-Click or CPC is a cost measurement unit of social media marketing. Every time someone clicks one of your ads you will be charged. So your objective is always to get the lowest CPC while still attracting the right customer. Just how low of a CPC can you get? That depends on the average CPC for Facebook ads in 2019 according to this article is about $1.72 so I would suggest to aim for that figure first and then to try and reduce that number even further.
Remember your targeting and your sales process play a vital role in the social media marketing game. So when a potential client clicks on an online ad the work is far from done to get the sale. Firstly make sure you are targeting people that are extremely interested in what you have to sell and can easily afford the product as well.
In 2018 Facebook ads have generated about $23 billion from US ads sales alone, some experts say that figure is only going to increase. This is because social media has helped businesses reach/understand clients like never before. You should take advantage of this incredible opportunity for your business as soon as possible.