It’s 2017, which means Facebook advertising is in its thirteenth year of existence. It seems crazy we’ve had more than a decade of weirdly relevant ads in between baby pictures and spring break photo albums, but Facebook has kept things interesting by constantly updating what you can do on its advertising platform.
So, to get up to date, here are 6 things you may not have known about Facebook advertising:
It’s based on an auction. All ads on Facebook have a maximum bid that’s either automatically determined by Facebook or manually set by an advertiser. The ads you see on your timeline land there because the auction system considered them to the be the best fit according to bid price and relevance.
There are Insights and then there are Audience Insights. Many people familiar with Facebook and Instagram advertising know about the insights tab that appears at the top of a Facebook page you manage. However, if you’re just getting started, make sure to create an ad account at business.facebook.com. Once an account is created and a business page is linked, there is an extremely helpful page called Audience Insights that provides even more details about the people who like your page, which is invaluable to a strong social media strategy.
The Facebook Pixel Helper is an advertiser’s BFF. If you’re setting up a Facebook Pixel on your site and want to make sure it’s working, or just are curious about which of your favorite sites are using a pixel, download the Facebook Pixel Helper. It’s free in the Chrome store and tells you if your pixel is firing correctly.
You can track boosted posts with the Facebook Pixel. If you boost posts on your Facebook page that include links to your website, and that website has a Facebook Pixel, then you can track the actions of people who click on the link in your post. While boosted posts may not be as effective as setting up a full-fledged ad, it’s great to see what kind of return on investment even a $5 boost can create.
According to a survey by AdEspresso, in the US the average cost per click of Facebook Ads in the third quarter of 2016 was $0.27 cents. The average cost per 1000 impressions was $7.19. Instagram is the most expensive ad placement at $0.72, compared to $0.35 for the next highest (the desktop right column).
This week, Facebook announced that more than 1 billion people see an ad through its Facebook Audience Network every month.
If that doesn’t convince you to jump on the social media advertising bandwagon, check out some more reasons here.
Story by: Kelsey Thompson