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There are few platforms on the Internet with demographic data as accurate as Facebook. Unlike data from other sites, like Google or Advertising.com, Facebook users actually provide all their demographic information because it is a social media platform. As a marketer and a small business owner, that's a goldmine. A lot of advertising dollars spent on branding is wasted because people who aren’t in your target market see the ads. How many times have you seen a commercial on TV for a product you didn't care about? Facebook is different, again because it is a social media platform and the users provide the information. Facebook allows you to focus your branding in to only your target market. Your brand will be constantly exposed to the right people -while they are being social-, without you having to spend advertising dollars on the wrong people.
Costs vary widely based on a number of different factors. Generally, to advertise in the United States with a moderate amount of demographic filters, you can expect to pay anywhere between $0.30 to $1 CPM. Knowing this will help you stay in your advertising dollars budget, but remember this is a general number, each campaign will be different. Advertising in other countries will have vastly different rates. It's generally not a good idea to lump different countries into the same campaign, or you'll have skewed results and costs. Just because Canada, Australia, the USA and the UK all speak English doesn't mean they belong in the same campaign. The number of filters you put on will also have an impact. Much like any other free market, the more competition there is to advertise to a certain demographic, the more you'll pay.
Note that if you're bidding CPM on Facebook, you'll probably get fewer clicks than if you spent the same amount of money while bidding CPC. Cost per impression Vs. Cost per Click.
Start with the basics. What is you advertising dollars budget? What age, gender and location is your target market in? You can then narrow down your demographic further by earning power, political leanings and education. You can further narrow down your target market by targeting specific interests. Make sure to type in related interests as well. Don't just type in "branding," but also "marketing" and "promotions," for example.
In addition to highly effective targeting tools, Facebook also has great and effective tracking tools. You can track exactly how many people have seen your ads and how often they've seen your ads. This is helpful so you don't go over your advertising dollars because you can adjust the ad as needed to get the results you want. When it comes to targeted branding, there are few tools as powerful as Facebook- especially because it is also a great social media platform. Confused? Don't Worry we can help. Contact Marketplace Maven Today and start brandig your business to your audience.