Choosing how to advertise on Facebook is purely down to preference however, if you are new to Facebook advertising there are a few things you should know to help you get started.
Facebook advertising lingo
Let’s start with the basics. There are some phrases and abbreviations that you should get your head around before even beginning your Facebook advertisement campaign.
If you are already familiar with the lingo skip to the next section.
There are two main phrases and abbreviations that you need to be aware of which are Cost Per Click (CPC) and Cost Per Mille (CPM).
CPC – ‘Refers to the actual price you pay for each click in your pay-per-click (PPC) marketing campaigns.’
CPM – ‘Cost per thousand (mille) (CPM) is a marketing term used to denote the price of 1,000 advertisement impressions on Facebook or alternatively on any webpage.’
Cost per click pros and cons
The biggest advantage of CPC is that you only get charged for the amount of clicks your ad receives. This is in theory, is a big plus for users because it means if your ad doesn’t receive any clicks, it will still be getting lots of impressions free of charge. It is also a way of guaranteeing you won’t be paying lots of money if your ad doesn’t perform well.
The downside to this is that it may feel like you are paying the earth if your ad gets lots of clicks as you literally pay for every click you receive. You will eventually be paying a high price for higher performance.
We suggest that this option is a great way to do some research and get to know which audiences your ads perform well with.
Cost per mille pros and cons
Using cost per thousand options is great for Facebook users who get a high click through rate as you pay a set rate per thousand impressions. Although you may feel like you are wasting money if your ads are performing poorly.
The amount you get charged for CPM has nothing to do with the performance of your ads. It goes off impressions only so if you are looking at an advertisement method that measures the cost outcome then this is probably not the best option for you.
How do I choose?
Our recommendations on which to choose goes off if you are beginner or advanced at using social media platforms to advertise.
If you are complete novice and need to do some research to find out the best audience for you or you only have a set budget, then CPC is definitely the best option as you only get what you pay for.
However, if you are an advanced user and you know how best to optimise your Facebook advertising then take a more hands-off approach and hit the CPM option. This option is also good if you know which audience your ads work well with so that you are getting direct impressions from the right demographics.
Still unsure? You can contact our social media management team by clicking the link and filling in the form. Alternatively, give us a call on 01604 419776.
