Spending on Facebook ads has grown at a pace of 64 to 69 percent during the last year, and that number is projected to rise. At www.facebook.com/ads/create, it’s simple to start promoting your brand on Facebook. However, there are a few key steps and decisions you’ll need to make.
24. When to Choose CPC vs CPM
Cost Per Click (CPC) advertising allows you to specify a certain amount that you are willing to pay each time a user clicks on your ad. This is the way to go for businesses that are primarily interested in people clicking through to a website. The minimum CPC is $0.01.
The other way to pay for ads on Facebook is Cost Per Thousand Impressions (CPM) advertising, which allows you to specify how much you are willing to pay for 1,000 views of your ad. This model works best for brands that are focused on spreading awareness rather than counting clickthroughs. The minimum CPM is $0.02.
25. Schedule Ads
In the creation process of an ad-at step 3-the default is for ads to run continuously starting that day. By unchecking that box, you can set a beginning and ending date and time for when your ads will appear.
26. Pay for Facebook Ads with Membership Rewards Credits
In an industry first, American Express Membership Rewards cardmembers can redeem points for Facebook Ads.
27. View Reports to Track Effectiveness
When it comes to your Facebook advertising strategy, it’s important to review what’s working and what’s not. From www.facebook.com/ads/manage, click on the Reports tab along the left navigation. There are three types of reports in the Report Type drop-down menu: Advertising Performance, Responder Demographics, and Conversions by Impression Time. Each can be downloaded as CSV, Excel, or HTML sheets. Advertising Performance includes such statistics as impressions, clicks, clickthrough rate (CTR), and spend.
Responder Demographics offers information on who is seeing and clicking on your ads. The Conversions by Impression Time shows the length of time between a user’s view or click on the ad and the conversion (i.e., 0 to 24 hours, 1 to 7 days, 8 to 28 days).