There are few platforms on this planet with demographic data as accurate as Facebook’s. Unlike data from other sites, like Google or Advertising.com, Facebook’s users actually provide all their demographic information. As a marketer, that’s a treasure trove.
A lot of money that’s spent on branding is wasted. Ads are seen by people who aren’t in your target market. How many times have you seen a commercial on TV for a product you didn’t care about?
Facebook is different. Facebook allows you to hone your branding in to only your target market. Your brand will be constantly exposed to the right people, without you having to spend money on the wrong people.
==> How Much Does CPM Advertising Cost?
Costs vary widely based on a number of different factors. Generally, to advertise to a first world country with a moderate amount of demographic filters, you can expect to pay anywhere between $0.30 to $1 CPM.
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.
==> How to Target the Right People
Start with the basics. 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.
==> Drive Traffic to Your Facebook Page
One powerful way to use Facebook to improve your brand is to drive traffic to your Facebook page rather than your home page.
Give people a freebie in exchange for them clicking “Like”. For example, give them a 20% discount coupon or give them a free video.
Once someone has liked your post, you’ll show up in their feed. Now you can get your brand in front of them time and again – for free.
You can also use connection targeting to advertise only to people who’ve already “liked” your page. You’ll usually get a much higher ROI this way.
In addition to highly effective targeting tools, Facebook also has stellar tracking tools. You can track exactly how many people have seen your ads and how often they’ve seen your ads. When it comes to targeted branding, there are few tools as powerful as Facebook.