This Post will help you all understand and learn more about Facebook Advertising. in Facebook Advertising which is a better module CPC (Cost Per Click) or CPM (Cost Per Thousand Impressions).
So before I write about the post let me tell you how I came up with this post. I was talking to a friend who handles Social Media in a prominent Digital Marketing Agency. We were discussing about the business model which Facebook follows and as everyone knows that Facebook earns from its Advertising. So we ended up talking about which model is better CPC or CPM and that is how I came up with this post.
So let me tell you what is CPC and CPM?
CPM = Cost per thousand impressions. Price you’ll pay for a thousand impressions/views.
CPC = Cost per click. Price you’ll pay for every click on your ad.
When you choose CPM, your ad is charged on impressions. Facebook will throw a lot of impressions because they know they’ll get paid no matter what. With CPM bidding, you’re practically gambling with your Facebook Advertising budget. You might get a great result with great amount of cheap clicks but you also run the risk of spending your entire budget and not getting any clicks at all.
Alternatively, choosing CPC bidding means you only pay when someone clicks on your ad. You’re paying for a deliberate click by someone who wants to see what you have to offer on your landing page. The ROI in this model is better and you have an assurance that your brand , company or product is visible to people. Which is not the case in CPM model.
How to Bid CPC on Facebook Advertising?
I recommend that you keep this as a long time campaign and set a daily spend which could be as little as 10$ and bid for each click as low as 0.01$. Even though the results in such low bids are very low too so you can try starting from 0.50$ a click and as you start getting response you can cut it. You can also use it for “NO CALL TO ACTION” Ads which is a good way to increase your brand appearance on Facebook which will be also named as Branding.
How to Bid CPM on Facebook Advertising?
I will recommend CPM (cost per thousand impressions) model when you have some offer in place. The goal with CPM is exposure. It is a must have a “CALL TO ACTION” so the campaign will be ROI driven.
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Hope these tips will help you and more any other combinations that you explored while advertising , feel free to post it.
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