Even in the Internet age, when people think about advertising, most of us still think about traditional marketing media such as expensive billboards, magazines, radio, television spots or ineffective direct mail campaigns and leaflets. And why wouldn’t they? We’ve been using these forms of media as advertising outlets for the past 50 years! They are inextricably linked to the concept of advertising, especially to business owners.
As a result, many business owners who would greatly benefit from advertising have a false preconception of how expensive it is and believe they can’t afford it. Well, they can.
Digital marketing platforms, such as Google AdWords, LinkedIn, and Facebook offer the lowest CPM (Cost per 1,000) in advertising history! Traditional marketing media, such as magazine ads may cost a business $20 or more to reach 1,000 people. The same thing can be accomplished on Facebook for pennies on the dollar. It costs an average for only $0.25 to reach 1,000 people through Facebook!
At Nuanced Media, we’ve long been proponents of pay-per-click advertising, and we are completely enamored with Facebook’s advertising platform due in large part to the unbelievably low cost to reach 1,000 people. The low cost of impressions is magnified by the sheer size of the audience on Facebook. Featuring 1.44 billion monthly active users and 874 million mobile users, the reach and audience available for businesses utilizing Facebook ads is rivaled only by Google AdWords.¹
There are many benefits to advertising on Facebook, but there are two benefits that really stand out best in addition to taking advantage of the low cost per 1,000 impressions.
Facebook offers precise targeting of advertising thanks to the amount of demographic data it has collected from its users. Facebook ads can be targeted to granular levels of location, age, gender, interests, relationship status, connections, languages, education, and workplaces. With Facebook ads, you can reach your target market with precision and do it with minimal expense.
Facebook offers an incredibly engaged audience. American users spend an average of 40 minutes a day on Facebook and almost half of the 1.44 billion monthly active users log in any given day.² Your magazine ad only works if a reader sees and notices your ad, and most people don’t re-read magazines multiple times. Facebook users are far more likely to notice your ad during their 40 minutes on the site.
These benefits combine to make Facebook a very impressive platform for companies, many of whom are already using Facebook to engage with their customer base. Now, those same businesses can reach out to thousands of new potential customers who already fit their target demographics, and are engaged with the platform for relatively small amounts of money.
With the minimum daily ad spend on Facebook being only $1 at an average of $0.25 cents per 1,000 impressions, you can reach upwards of 120,000 potential new customers every month for only $30. That’s insane! And that, ladies and gentlemen, is why Nuanced Media loves to advertise on Facebook.
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Ryan Flannagan is the Founder & CEO of Nuanced Media, an international eCommerce marketing agency specializing in Amazon. Nuanced has sold $100s of Millions online and Ryan has built a client base representing a total revenue of over 1.5 billion dollars. Ryan is a published author and has been quoted by a number of media sources such as BuzzFeed, CNBC, and Modern Retail.