Facebook Ads Costs Explained: CPC vs. CPM

Facebook ads costs explained

Those who use Facebook Ads often debate the benefits of using CPC (Cost Per Click) or CPM (Cost per Mille). These two little acronyms cause advertisers a whole lot of grief.

How are we supposed to know which one to use on our Facebook Ads? Even worse is that you are almost certainly paying the price if you aren’t using the right one at the right time. But we’ll get to that…

Facebook Ads Cost: CPC vs. CPM Explained

If you hear the terms “CPC” or “CPM” and think, “What’s the difference?”, here is a quick “dictionary” definitely for you.

Facebook Ads CPC Definition

Facebook Ads CPM Definition

Notice that your bid price is noted as an approximation in the graphics above. You do not get to choose your exact bid price, but instead, when using Facebook Ads you get to place a bid that will then be used by Facebook to determine your actual costs.

For example, if Facebook suggests that I bid between $0.50 & $1.00, I might select to bid $0.75 for my advertisement. Then, Facebook will take that $0.75 and reference that bid against all other bids for advertisements to your market and determine what your actual costs will be based on the open market price.

So that $0.75 you bid might very well end up only costing you $0.60 or even less. By that same token, you could also end up paying exactly $0.75.

This is just an example, we have found ways to get bids for pennies on the dollar. And we can help you do the same. That’ll have to wait though, I’m getting distracted.

For now, I’ll just say that the power of Facebook Ads comes by bidding the optimum price at the right moment. But more on that later.

So “Cost Per Click” essentially means that you will pay the bid price that Facebook sets for you, as we explained above, each time someone clicks on one of your facebook ads. Simple as that.

What are “Impressions”?

Facebook Ads cost impressions

An “impression” is a display of your advertisement. So anytime your advertisement gets displayed to a user, your ad is getting an “impression”. Facebook has moved away from the term, “impression”, and instead now describes this figure as your advertisement’s “reach”. But for the purpose of explaining CPM ads costs with Facebook, we will stick with “impression” for now.

So just like we describe above, Facebook will take the bid you chose and determine your actual cost.

The big difference with CPM advertising is that you do not pay each time a user clicks on your advertisement. Instead, you get charged the market-determined ad cost each time your advertisement receives 1,000 impressions. So regardless of how many clicks you receive, you get charged each time your ad gets displayed an additional 1,000 times.

The name “Cost per Mille” (CPM) draws from the Latin language. Mille is the word the Ancient Romans would have used to mean one thousand. Which is exactly where we get the meaning of Cost per Mille, meaning a price for 1,000 views of your advertisement.

 Which one do I use?

People debate the use of CPC over CPM or vice versa to no end. Facebook Ads is pretty much a guessing game for so many marketers out there, while most people are just seeking the lowest costs possible.

Well after spending a small fortune on Facebook advertising, and testing the living daylights out of everything Facebook Ads has to offer, I can tell you that CPC is definitely right for our business.

But before you rush off and sink a big bag of money into CPC advertising, I can also tell you that CPM absolutely dominates for others. The subtle difference between these two cost structures can mean a world of difference.

The real power comes when you can match your business/service with an ideal suggested bid and leveraging the strengths of both CPC & CPM advertising. But we’ll have to visit that inside the Member’s Area sometime. Sounds like a good idea for a webinar.

 

That’s all for today guys, thanks for reading! If you are looking to get serious about your business through Facebook Ads, and want to take a look inside our advertising campaign to hear exactly how we make it all happen, check out Facebook Ads Secrets right here.

 

4 Facts About Facebook Timeline’s Inevitable Release to Fan Pages

Featured

The great people over all AllFacebook.com recently posted an article outlining some activity surrounding Facebook’s upcoming Facebook Marketing Conference scheduled for Feb. 29th (AllFacebook’s post here). The post sites two sources who have hinted that Facebook could be announcing the release of their new “Timeline” for Fan Pages.

The release of Timeline for Fan Pages has always been a virtual certainty, the question has just always been, “When will Timeline be out for Fan Pages?”.

Now, were not here to speculate on wether the Feb. 29th conference will actually include the introduction of Facebook Timeline for Fan Pages, but for the sake of this post, let’s just assume that this announcement will be made and that Timeline will be introduced to Fan Pages in a few short weeks.

So here is a short list of thing you need to know about Facebook Timeline & its possible release for Facebook Fan Pages.

Facebook Timeline Loves Social Applications

Not too long ago, Facebook made the announcement that 60 social applications were to be “tightly integrated into the new Timeline format (those 60 apps listed here). These applications include what is called, “auto-post” ability.

You have probably already seen this in your New’s Feed with applications like Social Reader, Spotify, or even Pinterest. If your friends have “Allowed” these applications onto their profile, their activity within these applications is automatically posted to their personal Facebook Timeline & their friend’s New’s Feed, like the picture below.

Facebook Timeline Social Application

“Auto-posting” can provide clear, powerful advantages to fan page owners who can leverage these social applications well. Facebook Timeline could offer Fan Page owners a great opportunity to increase exposure.

We Don’t Know What A Fan Page Timeline Will Be Like

While Facebook Timeline has been out for personal Facebook profile for some time, no one really knows what Timeline may look like for Fan Pages. Plenty of people out there have speculated on what a possible Timeline for Fan Pages layout might look like.

All of this is clearly speculation, as we cannot be sure of any exact specifications. I  can say fairly confidently that the widely popular, Cover Photo, will be a centerpiece of any Timeline for Fan Pages. But after that, there is no hard evidence to support much else.

What we do know is that when developing Timeline, Facebook did consult with business owners about the design. This lends credibility to the belief that whatever the new Timeline for Fan Pages looks like, it will have been developed with branding & e-commerce in mind.

Images Are King

After spending just a few minutes with the Facebook Timeline layout on your personal profile, it is awfully clear that images get a whole lot of attention. When posted, images tend to take up a large amount of space on the Timeline, and they also tend to stick around longer than other posts. Meaning, an image or group of images is visible longer than most other types of posts.

Below is an image uploaded to a friend of mine’s Timeline. You can see that most images take up almost 3 or 4 times the amount of space as other types of posts. This particular picture was added almost 48 hours before this screenshot, and was still sitting near the top of the page.

Facebook Timeline Fan Pages Image Upload

Facebook Timeline for Fan Pages is Inevitable

Facebook will never stop changing. They will always seek to develop the “next big thing” in social media, and Timeline is their big idea for the moment. Fan Pages will be using Timeline in the future, and we will most likely know more about that after February 29th.

So don’t fight it! This doesn’t have to be a big, scary change. This is simply an opportunity waiting to happen, and there is one other thing you can take to the bank about Facebook Timeline. You can bet your house that your customers will still be on Facebook & that we will still be finding ways to get your customers to connect to your band no matter what change comes.

Now for a shameless plug: If you are looking to get an insurance policy on your Facebook Marketing, make sure you check out Fan Page Secrets. 1,000s of others have taken the plunge and leveraged their brand using Facebook with this great training.

The best part is that our training comes with free Lifetime Updates. Meaning, as Facebook continues to change, so does our training. You will never be left high & dry, giving you a professional insurance policy for your Facebook Marketing for about what you might spend on a date.

Click here to learn more about how you can insure your Facebook Marketing with Fan Page Secrets.

 

6 Ways to Get Facebook Fans Before Bedtime

Featured

There are a millions ways that a page could get Facebook fans. So it is crucial that you keep yourself from going into Information Overload. Don’t let all the information out there keep you from implementing something right now! Keep it simple, and always take action.

So, let’s look at 6 ways to get Facebook fans to your fan page before bedtime…

Create a Custom Landing Page

Harry Potter Facebook Fan Page

Harry Potter's Fan Page displays a great custom tab to new get Facebook fans.

A custom Landing Tab is the most powerful technique to get Facebook fans to your Fan Page. Since Facebook’s switch from their older FBML code in early 2011 to the new iFrames setup, you can insert any HTML code directly onto your Fan Page.

Leverage this ability to offer exclusive deals, embed videos, or even copy an entire page of your website directly into Facebook for your new visitors to view when they first find your page.

To learn more about custom landing tabs and how to create them to get Facebook fans, check out Fan Page Design for Dummies.

Ask Visitors to Take Action

Give your visitors a good “Call-to-action”. Don’t just let new visitors land on your beautiful new custom tab, ask them to take the next step take an action you would like them to take. Direct your visitors to do what you would like, or you are likely to miss out on getting more Facebook fans.

Communicate the value of your page

Under Armour Custom Fan Page

"Like" Under Armour for Exclusive Content

Give a clear answer to the question, “Why should I ‘Like’ this page?”.

Communicate the value your new visitor will receive by clicking “Like” on your page. Below is a great example from Under Armour. Right under their “Call-to-Action”, Under Armour reminds their users that they are clicking Like to receive “Exclusive UA content!”.

Perfect way to get Facebook fans from the existing traffic on your fan page.

Interaction Make the Heart Grow Fonder

Offer your fans great, interactive content. The more “stuff” there is for your user to read, watch, or click, the more trust they will place into your brand.

Embed videos, create surveys, anything you can do to keep the user on your page longer. The longer the user is on your page, the higher the probability that you will get Facebook fans faster than ever.

For great info on how to do much of this custom work, click here.

Offer Free Stuff to New Fans

Who doesn’t like free stuff?? Offering a free gift in exchange for clicking “Like” is a great way to make interested visitors into devoted fans.

You don’t have to look far to find great examples of how a small giveaway on Facebook can work wonders for your brand. Everyone loves free stuff, and offering something small (but relevant to your audience, and of value), to new visitors is a great way to get Facebook fans with just one small change.

Facebook has SEO?!

Phiten Custom Facebook Fan Page

Rank your Fan Page in Google?? Just fill out your Fan Page.

SEO stands for Search Engine Optimization, and yes, Facebook has it. Using simple SEO techniques on your fan page’s Info tab can be a great way to leverage Facebook SEO to get Facebook fans practically out of thin air.

Insert popular keywords, relevant to your market, and start optimizing your Facebook fan page for Google and all the best search engines.

Learn more about Facebook SEO and how you can use it to get Facebook fans to your fan page here.

Check out popular baseball brand, Phiten, and how they used their info tab to enter links & keyword-rich text to get Facebook fans using quick, simple on-page SEO techniques.

 

Want more on getting Facebook Fans? Head over to our YouTube channel and check out some tutorials we have to help you get Facebook fans simply, quickly, and effectively.

Facebook Shopping – Fan Page eCommerce History [Infographic]

Facebook shopping is beginning to turn the tide of doing business online, and the businesses that are taking advantage of using Facebook fan pages for at least one step of their marketing process are reaping the benefits.

Facebook Shopping and Fan Page e-commerce Predictions

The experts are predicting $30 billion in global purchases on Facebook by 2015. Currently, we are at $5 billion in transactions occurring on Facebook, so $30 billion seems a long way off, until you look at the trends. The truth is, if Facebook is watching the numbers (and I’m sure they are), we’re most likely going to see more and more features for businesses added to the already growing fan page commerce offering.

If you’re just looking at fan pages along, Facebook’s actions suggest that there’s no limit to where things could go. Facebook is offering businesses the ability to attract thousands of new fans with new features like iframes, questions, at tagging, etc.

They’ve given businesses a place to interact with their customers and build their brand directly on Facebook. All of this is leading to more sales because everything is happening inside a trusted and safe environment.

facebook shopping cart

A Look Inside Facebook’s Shopping History

Below is the promised info-graphic of Facebook’s shopping and e-commerce history, which has been heavily influenced by applications and customized fan pages. It’s getting harder and harder to ignore the power behind Facebook fan pages when you look at the numbers, and if your product or service hasn’t found its way onto Facebook, I suggest you start to consider it.

A great place to start would be our beginner’s course, Fan Page Secrets, which guides you through setting up your fan page, attracting your first thousand fans, and making your first sale. If you’re already past this point and just looking for adding thousands of new fans, the Free Fan Generator course is the best thing for you.

Either way, take a look below and let me know your thoughts and the predictions moving forward. I’d love to hear them…

facebook shopping infographic

Workshop Wednesday: Stop Posting Status Updates at 3pm!

Dan Zarella, of http://danzarrella.com/, recently published an interesting chart of six statistics about facebook marketing.

Take a look at the chart below, because it has some pretty interesting stats. I’m seeing for my page that posting every day works quite well, and multiple times per day doesn’t seem to sway things one way or another. As always, this report isn’t market specific so test it out for youself, but it does give a good basis to go off of when you’re deciding how active your page is going to be.

I’m going to use these stats and my own tracking and add a new module to Fan Page Secrets, aimed at when and how to speak directly to your fans so you generate the most leads and new customers for your business.

Facebook Marketing Statistics

Facebook Marketing Statistics

What are your thoughts about these findings? Have you noticed more impressions, responses, likes, and comments on different days or time of the day?

For even more in depth training and faster results, check out the new modules inside Fan Page Secrets. Click the link right before this to take a look at our marketing and learn from what we do best, and learn from our biggest mistakes we have learned along the way!

70% of Brands Falling Short on Facebook

Alterian’s 8th annual survey shows some pretty scary results for businesses using social media, or not using social media. Is your brand one of the 70% that feel at-risk in this new socially connected world? What are you currently doing to actually take part in the conversion and monitor the discussion around your brand.

The discussion is happening, whether you’re taking part in it or not. I suggest you actually jump in, engage your people, and bring your company to life in their eyes. It doesn’t take much. A few comments here and there and all the sudden you’re a “company for the people.”

Take a look at the stats below and start to think about what your goals actually are. Do you want to jump into social media to purely engage your following? To generate new business? To provide insight into your company? All are valid reasons, but all require a different plan.

Don’t just jump in without thinking about or you end up in the 70%. You can start by creating your first fan page the right way.

facebook brand engagement statistics

70% of Companies Are Falling Short on Social Media

Stop Marketing with Your Facebook Personal Profile! 3 Reasons Why…

Nothing drives me more crazy than getting tons of friend requests from people I know are just trying to boost there facebook friends for purely business reasons. If this is what you’ve been taught, it’s not your fault, but you need to stop.

I promised myself the second I started hearing these strategies that I would never do it.

My facebook profile is MINE. Not my business’s. It’s for me to chat with my wife when I’m away, to post vacation pictures so my mom and dad can see them, and to keep up on what my friend’s are up to. Not only are you using a great social tool for something it’s not meant for, facebook personal profiles are FAR LESS effective at promoting and selling online.

If you are wondering what the alternative is to personal profiles, you will want to watch how to create a Facebook fan page.

My Facebook Personal Profile is…Personal!

You can only have 5,000 friends anyway, so are you just going to settle for 5,000 business contacts and that’s it? That doesn’t sound like a great plan, especially when fan pages are unlimited! It’s tedious to just go out and friend everyone sending them a personal message.

Not only that, your real friends are going to get annoyed pretty quick with all your marketing status updates. Leave everything to your fan page. Please. It’s way more effective and it lets you separate business and life…which is probably a goal you have in the first place.

So, this list comes down to these 3 simple reasons…

  1. Your facebook personal profile should be something you use to really connect with friends and family (that’s what it is designed to do)
  2. You can only have 5,000 contacts on profiles, so why limit yourself?
  3. Facebook Fan Pages give you so many more marketing resources (Custom tabs, Info Tabs, more Wall features, Applications) to really reach out to your follwers

Facebook Business Resources

If you want to really get all the inside information on how to create the perfect fan page, you should check out Fan Page Secrets. Fan Page Secrets is a marketing resource that will help you create a Facebook fan page that will quickly become your business’ top employee.

If you are interested in getting some more traffic to your fan page, click here to learn more about how you can use the Free Fan Generator to get Facebook fans.

What do You Think?

Are you sick of meaningless friend requests or trying to mix business and friendships in one place? Do you reserve your personal profile for “personal” stuff?

Facebook Fan Page Friday: Starbucks Knows Their Stuff

Well as a big snow storm has been pounding the Northeast, I find I am in desperate need of something to warm me up. Like I said, I am covered in snow and in

desperate need of something to defrost my life. So while searching for a Fan Page for this week’s Fan Page Friday, I finally decided on everyone’s favorite (well, most people’s favorite) coffee shop on a cold winter day, Starbucks.

So welcome back to Fan Page Friday, where every week we take a look at a different Facebook Fan Page and talk over what they are doing right, what they are doing wrong, and what we can all learn from them. So let’s kick into the 2011 Edition of Fan Page Friday…

With over 19 MILLION fans, Starbucks’ fan page is yet another example of leveraging a great brand to attract an already loyal fan base. But for all of us who can’t get the attention of 19 million people quicker than your favorite barista can make a Grande Java Chip Frappacino with a double shot of espresso, topped with whipped cream, with no fudge please….there is something to learn here. Let’s get to it.

Interacting With Your Facebook Audience

One of my favorite things about Starbucks’ Facebook Fan Page is how well they interact with their fans. I want to spotlight thier photo gallery, which allows fans to upload a picture of them with their cup of Starbucks in hand. With almost 8,000 uploads, Starbucks is giving every fan an opportunity to add to the Starbucks experience. This initiative is consistent with their brand, and is a very unique way of getting their fans to come back time and time again.

Fans are thinking about this Fan Page throughout their day, how could you do it with your audience?

Not everyone out there offers a physical product, but there is still something to learn here. Find ways to interact with your audience in a unique way. Starbucks knows their market, and has made a way for every Starbucks-lover to use their iPhone (not sure I have ever seen someone in a Starbucks without an iPhone) to capture their morning coffee and interact on their Fan Page while away from their computer. So learn from Starbucks, know your market and engage them in a unique way.

Content is King

How many videos does Starbucks have on its Fan Page? The answer on January 28th, 2011 is 31. That is 31 different videos posted by Starbucks alone. They also allow for their users to post videos, which means technically they have over 90 videos in total. But the number I want to focus on is 31. Starbucks is creating opportunities for people to stay on their Fan Page. By offering great content, Starbucks has provided over 60 minutes of content for their visitors to consume. The longer a visitor stays on your page, the longer you have to win their trust. If someone who doesn’t necessarily like Starbucks that much (like myself), goes on this Fan Page and sees their favorite music artist (Anyone else really into Zac Brown right now??) performing in one of their videos, they are way more likely to click that precious “Like” button (I totally did).

So again, not sure many of us have celebrities on speed dial, but there is something to learn here for all of us. Good content is a great way to engage your audience and keep them around. Know what your market in interested in, and get content on your page that will engage them like no one else will. If you can’t make great videos, find them somewhere else. Write interesting articles. Link to good website. Link to other great Fan Pages on your “Favorites”. But fill your Fan Page with content that your market will find relevant, interesting, and engaging.

How likely are you to stick around this page with all this kickin' content??

Well that wraps it up for this week’s Fan Page Friday. Hope you all enjoyed our look at Starbucks, feel free to ask questions about what you read here or let us know if you enjoyed it! And be sure to comment below and request a review of your favorite business’s Fan Page and we will throw them into our lineup. Happy marketing everyone! Stay warm!

5 Tips to Increase Your Search Engine Rankings With Your Fan Page

Most businesses that are new to Facebook marketing don’t realize how effective Fan Pages can be in increasing your rankings in Google, Bing, and Yahoo. Facebook SEO is especially powerful because it only requires a few simple steps to create an effective search engine campaign using Facebook.

Because of the viral nature of Facebook, Google tends to watch these pages more closely. This results in even faster results in search engine rankings than even traditional search engine optimization strategies.

Fan Page Optimization

And some people thought the whole FaceBook thing was just a fad...

Here are the top six tips that you need to take into account when creating your Facebook marketing campaign using advertising, fan pages, personal accounts, groups, and events.

  1. Create a keyword rich Fan Page Title
  2. Descriptively fill out your “Info” tab
  3. Create a custom URL for your fan page
  4. Share or create relevant, key-word rich content that your users can share
  5. Regularly put URLs and links into your statuses/updates to engage your users

As all Facebook marketers know, targeting good keywords are gold for generating traffic for your site. And being visible to search engines, FaceBook Fan Pages are no exception to that rule.

So find a way to infuse your keywords anywhere you can, BUT remember to remain as natural as you can with your speech. The guys at Google are finding ways to stay one step ahead of marketers who just try to say a specific keyword 19,247 times on a single page and sound like total dorks in the process.

People know who is being genuine, so take the time to create content that is keyword-rich, but actually says something people care about.

Be natural, be yourself, and take the opportunity and the challenge to make your Facebook presence that much better through basic SEO!