You are ready to invest in your success if you have created a Facebook page for your business. But the question is: how much should you be spending on Facebook ads?
It’s a question which you are going to face too often. And the easiest way to get an answer is: there is no easy way. The spending can be very low or very high every month.
Yes we know, this answer is not helping you anyway. So here is a break down which will help you learn to invest your money on your Facebook Marketing Campaigns in a right manner.
Increase Relevant Page Likes
Its one of the most important part of your Facebook sales funnel. When it comes about selling on Facebook, its too difficult but you can have insane success when you try to sell to people who like to see your content in their news feeds. So your first priority should be increasing the relevant fan base who are actually interested in buying your product or service. Which means increasing your relevant Likes.
The word “Relevant” should be your key focus here. Don’t try to get cheap likes by targeting on irrelevant countries because you can gain cheap likes by doing so but they aren’t going to help you earn anything. The cost per like is going to be dependent on your brand, industry or niche. For example, if you are a reputed brand in the entertainment field then its going to be easy but if you are a new law firm, its going to be a tough job.
In short, spending anywhere from $.20 to $1.00 per relevant Facebook like is worth.
So this should be the basic starting point of your expectation depending on your budget. Keep notice that you should not be spending entire of your budget on this. But if you have only $100 budget per month then you can dedicate all of this amount here.
•$100: 200 Likes
•$500: 750 Likes
•$1,000: 1,250 Likes
•$5,000: 5,000 Likes
These are only rough estimates which may vary based on many factors.
You are suggested to promote your posts which are going to land on your blog. The purpose behind is to increase traffic on your website.
However, not everyone prioritise this thing. Yes, seeking people to see their content may have their objective but website traffic isn’t the focus. They just want engagement (likes, comments, shares, etc.).
Promoting your posts should be your focus with two main goals:
1. Reach Fans in the News Feed who were missed organically
2. Reach relevant non-Fans in the sidebar
Yes you may be seeking to reach non-fans in news feed as well, but that’s not how we recommend to do it. specially in this matter, All we need to focus is to reach our fans first. Reaching non-fans in the sidebar can be cheaper and can include a very small portion of your budget.
Your spending almost depends on the number of fans you currently have. Your goal should be to reach your fans in the news feed at least once. We used to run such kind of ads every week for a day. The motive behind is to reach at least 20% of our current fan base. This is a good starting point as trying to reach 100% of your fans may annoy people. Following this way, only 1/5 of your fan base are seeing ads from you every day.
Our experience says that we can have an expectation of CPM close to $5, It can be more or less but that’s a good round number to begin with. So by following these two things (20% reached and a $5 CPM), here’s what you can expect to reach 20% of your fan base depending on the size of your audience..
• 500 Fans: $.50
• 1,000 Fans: $1.00
• 10,000 Fans: $10.00
• 25,000 Fans: $25.00
• 50,000 Fans: $50.00
• 100,000 Fans: $100.00
Of-course it is one post. We don’t opt to promote more than one post every day but at-least one post per week is recommended. As mentioned above non-fans can also be targeted but with focussing on the sidebar. The CPM is usually under $.03 for an audience of 400,000 when targeting the sidebar only. So for a single promoted post, you may do the following with a $.03 CPM…
Things can be expected while promoting a single post with a $.03 CPM are:-
• 5,000 Non-Fan Impressions: $.15
• 10,000 Non-Fan Impressions: $.30
• 100,000 Non-Fan Impressions: $3.00
• 250,000 Non-Fan Impressions: $7.50
• 500,000 Non-Fan Impressions: $15.00
• 1,000,000 Non-Fan Impressions: $30.00
Its all up to you if you choose to reach non-fans as a small or a big part of your budget.
Please make a notice, These are only assumptions. $.03 CPM may vary based on the competition. And as per our experience we don’t focus on non-fans its our assumption that the CPM is going to remain the same as you increase the impressions. But you need to increase the target audience size to retain that CPM