The answer of how much does it cost to advertise on Facebook is multi faceted, so let’s break it down. Facebook has two ways of charging a business for ads/facebook page promotion.
One is Cost per Click, meaning that you pay Facebook for every person who clicks on your ads, which often can be a little expensive. However, most marketers believe that you will be sure to get good results, since the ads are often only shown to individuals who have an interest in your niche market; for example, if your business is model trains, the ads will only be shown to those who are interested in model trains.
The second way of charging for Facebook marketing is CPM, or Cost per 1000 impressions, meaning that when 1000 people have seen your ads, you will pay Facebook for it. This would be like selling your product in a department store, where many more people who are interested in a variety of products will see it.
In regards to rates for advertising with Facebook, there are none that are set in stone. Rates depend on the bidding system. For example, if you advertise “model trains”, and if there are other marketers who have bid £10 for “model trains”, you need to pay a little higher than £10 to Facebook for prioritizing your fan page on over the others. Social media marketing has surely evolved into something over past few years!
Overall, Facebook marketing or advertising is a lot cheaper than Google ads. It is really the best return on your investment than almost any other marketing plan. Plus, you are learning about social media marketing, and in the long run that investment will pay off the most. From what you learn on Facebook, your social media marketers can go on to other online communities and try other strategies for marketing through social networking.
Facebook has a fairly good help page for marketers that will help you with campaign cost and budgets, as well as answers a lot of other questions. It could be of some real help to your marketing team and with the help Facebook Analytics; you can conveniently and precisely monitor traffic vs. conversions on your Facebook fan page. With all such stats right before you, you can allocate a budget that will provide you with the ROI you need to succeed online with your social media marketing campaign on Facebook.