Archive for October, 2010
As a follow-up to my last post about the cost effectiveness of FaceBook advertising I thought I would take a look at a relatevely identical ad on LinkedIn, ouch!
I have my CPM bid set to .35 on FaceBook and in actual fact isi it coming in much lower at only .08 and LinkedIn won’t even let me run my ad unless I bid a minimum of $3.10!! The quality of LinkedIn impressions might be higher but I don’t think they are eight times more valuable, maybe twice or even three times – my effective CPM on FB is .08 so my actual CPM might be 35x higher on LinkedIn. The trail won’t be that painful because of the $100 credit coupon LinkedIn sent me to try their ad network but if they intend me to keep on advertising they are going to have to lower their prices or I am going to have to see some crazy, spectacular results!!
Want to advertise your brand on the cheap to a specific qualified demographic? Sure, don’t we all!! Here is a peek behind the scenes of my newest Facebook advertising campaign and the bang-for-the-buck is spectacular! I thought the one million impression mark was a good time to sit down and figure out the value of this test project.
As you can see we got over 1 million impressions for less than $100 and I was able to laser target many of these. You might notice that the clickthru rate is not that high but that is not really the purpose of these campaigns. In my judgment any click was cream on top of the great brand promotion I got for the amount of money invested. Truth is that one conversion could equal $200-$300 profit so this campaign has not only increased the reach of my clients brand but likely made them some decent coin as well! We even put our phone number in the ads so we don’t need to always depend on a click to get a conversion.
Bottom line is that Facebook advertising right now is in the ‘sweet-spot’, lots of potential customers and we are able to reach them and expand our local brand at a low-price.