What Facebook Ads is all about?
Facebook was initially established to target a college audience, but the platform’s user base now begins at the minimum age of 13 and extends to all other generations of different ages. Back then the least popular group would those who are over 65 years old, but we can see the demographic users have gradually changed. For example in Malaysia, we have seen a lot of older people start to get active on social media, especially Facebook.
Because of the massive number of users that Facebook attracts, and its ability to keep them interested for long periods of time as they browse through profiles and sites, it is fair for advertisers to be able to make full use of the site. This is where social media marketing comes in place. It has developed approaches, such as Facebook Advertisement, Google Search Marketing and SEO, are now challenging to bring active users into a company.
Facebook has been selling ads in different ways from as far back as 2004, but its initial ad units were far from the sophisticated tools that can help today’s marketers. Now many things have changed for a convenient digital marketing strategy for Facebook.
There are more than 8 million users in Malaysia using Facebook and it stores users’ information according to targets. Now you can advertise your service or product online through Facebook by targetting audience based on their area, age group, birthday, employment, workplace keywords, sex, interests and languages.
How much do Facebook Ads cost in 2023?
This is a tricky question often asked by many social media marketer. Facebook ad pricing can be as much as around RM50 per button, or as little as RM5, depending on your situation.
A look at current studies shows that for most sectors in 2020, a Facebook estimated ad cost is between RM2.50 and RM9 per click. However, keep in mind that the cost may differ according to the industry.
For example, the finance and insurance industries can take up an average cost up to RM17 per click. Cheapest advertising cost is for industries like travel and hospitality (RM3/click), apparel (RM2/click), retail (RM1/click).
In general, social media marketing begins at about RM1,500 per month, on average. That cost depends on the length of service and services you opt for. The cost also has the possibility to go up to RM30,000 per month charged by a digital marketing agency.
(i) How much should you spend on Facebook ads?
For a startup, you can allocate at least around RM300 for the first month. On the second month onwards, you can start spending more than RM500 for specific lead generation strategies.