Facebook Ads 101

One of the bonus sessions I listened to yesterday at the Social Media Success Summit 2011 was about Facebook Advertising! Below is my take-away.

The site gets apparently 3,2 Billion visits/month acording to compete.com. Facebook is growing and with Marc Zuckerberg now studying chinese and traveling back and forth to China it's just a matter of time until he has conquered the world.

Facebook advertising is available for everyone, regardless of budget. You can start with 1 USD per day!
It allows you to push customers to a page a contest an app e.t.c... Great way to earn fans for example.
The targeting combinations are endless and relatively inexpensive, well if you compare to Linked In or Google for example.
Another benefit is that it's an effective and fast way to learn about how your customers respond to advertising from your business. Learn about demographics, learn who really IS your customer. All easily done by reports and great statistics.
Popular alternatives: Google (more expensive, bitting on keywords have rised), 
Linked In (more expensive and not very effective), Twitter (more limited targeting criteria then Facebook by its nature BUT Twitter DOES present a certain type of targeting too)

What sets Facebook apart is the targeting. It's endless. Target by demographics, geographic, interests, gender, city, language, age, education, marital status, people not connected to you, people not connected to your competitors...

Cool future feature would be to target status updates, but we are not there YET.

There are basically two types of advertising through Facebook.
Quick info below!

* Self serve
Start with as little as 1 dollar per day
Impression based and click based 
Visible when user views fb profile, page, group or app
Can point to page app group or third party website
Clickthroughs CPC cost between 0,60usd-1.20usd

Impression ads CPM Cost 0,25-0.60usd depending on targeting criteria
Ideal for SMB

* Sponsored ads
Bigger budgets, large ad buys, more for bigger corporations. Considered PREMIUM.
Minimum spending of 5000 usd per month however this is often negotiable
Shows up in newsfeed usually when user logs in and also visible on a few other pages
Can point to page, app, group, or third party website
Direct FB sales rep contact
5-7usd CPM Discounts exist
Targetable by the same criterias as selfserv ads
More expensive

Read more about Facebook: HERE!

Not to be forgotten is Facebook Sponsored Stories which is similar to Promoted Tweets on Twitter.

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