Running a Facebook ad campaign can be a cost-effective way to reach your target audience and promote your business. While there is no hard and fast rule, our recommendation is a daily budget of £20. However, it’s important to note that success can also be achieved with significantly lower budgets, up to 75% less expenditure. The cost of running a Facebook ad can vary widely depending on several factors, and it’s essential to understand the nuances involved in budgeting for such campaigns.
#1 Ad Objective
The type of ad you choose will impact costs. For instance, video ads tend to be more expensive than image or text-based ads. Also, your campaign objective, whether it’s driving website traffic, generating leads, or getting app installations, can affect costs.
#2 Target Audience
The size and competitiveness of your target audience can influence your ad costs. If you’re targeting a highly competitive audience, you might need to allocate a larger budget to reach them effectively, as you’ll likely have an overlapped audience with your competitor.
#3 Ad Placement
Facebook offers various ad placements, including the Facebook feed, Instagram, and Audience Network. Each placement has its own pricing, so your choice of ad placement can impact your budget. A good rule of thumb in most cases is to AVOID using Audience Network when aiming for conversions, it’s very unlikely for users to leave their application or game to submit a lead form.
#4 Ad Quality and Relevance
Facebook uses a quality and relevance score to determine ad costs. Well-designed, engaging ads that resonate with your audience can result in lower costs per click or impression.
#5 Ad Scheduling
Running your ads at specific times of the day can impact costs. You may find that certain hours are more cost-effective in reaching your target audience. Facebook has also introduced a new feature using their AI for budget scheduling.
The cost of running a Facebook ad campaign can vary widely based on several factors. While we normally recommend a daily budget of £20, it’s crucial to consider your specific goals, target audience, ad quality, and the other factors mentioned above. Facebook advertising allows for flexibility, and success can be achieved with smaller budgets if the campaign is well-optimised. Continuous monitoring and adjustment of your campaigns are key to finding the right balance between budget and results in the ever-evolving landscape of digital advertising. Get in touch with our lead generation team to learn more how your business can bloom from using Facebook Ads.
