The Campaign's Goal: Facebook Advertising


What you want to achieve from your Facebook ad – Objective – has the most impact on the cost of Facebook advertising.

Facebook has three goals in mind.

Consciousness

Brand Awareness - raise brand awareness by reaching out to those who have are more interested.

Reach - Get your ad in front of as many people as possible.

Consideration Traffic 


— Drive more visitors to a website, app, or Messenger chat, whether on or off Facebook.

Get more post engagements, page likes, event replies, or offer claims by increasing your involvement.

Increase the number of individuals who download your app.

Views - Increase the number of people who see your videos.

Lead Generation - Generate additional sales leads from people who are interested in your company, such as email addresses.

Messages - Encourage more individuals to send your company messages using Messenger or WhatsApp.

Conversions 


— Encourage useful activities on your website, via your app, or through Messenger.

Catalog Sales - Create advertisements that show goods from your catalog based on the demographics of your target audience.

By presenting advertisements to people in your immediate vicinity, you may increase foot traffic to your actual locations. You must now comprehend the following. You will have to spent higher advertising charges for a smaller audience if you want a more exact audience.

Niche competition is fierce.


Unless you have a specific specialty, there's a good possibility your rivals are looking for a similar target group. You might be astonished to learn how many rivals are vying for the same ad space as you. In this case, the ad cost is determined by an auction, which will most certainly alter the price of your campaign.

Advertisement Positioning


The cost of an advertisement is also affected by where you want it to appear on Facebook and Instagram. Every location has a distinct cost.

There are six main ad placement choices available on Facebook:

Feed — Display advertisements in audience feeds.

Adverts inside stories — Display ads within stories

Messages — Display advertisements in Messenger

In-stream — Displays advertisements in between videos.

In the article — Place adverts in between the publisher's content.

Applications & Websites — Display advertising on third-party apps and websites.

The fees for each placement vary depending on the competition, ad quality, and auction. The cost of a comparable audience in the 'feed' placement may differ from the cost of a similar audience in the 'stories' placement.

Advertisement Bidding/Auction


Another important aspect that determines the cost of advertising is the price; however a larger offer does not guarantee you the desired location. It is dependent on two factors. The amount of your bid is referred to as the bid.

Ad relevance/quality score - This is dependent on how relevant your ads are to your target demographic. On a scale of 1 to 10, Facebook gave your ad a rating.

If you bid high, but have poor ad quality, you are likely to lose out to the advertiser who bids lower but has better ad quality.

There are two bidding options available on Facebook.


Automatic — In this case, Facebook automatically sets the bid to acquire the most potential engagements.

Manual — In this case, you set the based by manually calculating the value of the ads.

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