Cost of Facebook Advertising vs. Traditional Marketing
Many forms of traditional marketing, such as TV commercials, radio and print ads are still used and considered successful. However, social media platforms like Facebook have given marketers and business owners a powerful alternative to traditional marketing methods. Facebook ads allow you to target a large, and specific audience, for a lower cost.
Social media marketing has one the lowest cost per thousand impressions (CPM). CPM is the average cost to reach one thousand people. For example, the average CPM for social media advertising ranges only $1 to $4, while the CPM for direct mail ranges $26 to $27. You can reach 1,000 people for a fraction of the cost using Facebook ads in comparison to television, billboards or even email.
Not only does social media advertising cost less than traditional marketing, it also is less time consuming and takes much less time to plan and execute. 84% of marketers found as little as six hours a week was enough to generate increased traffic.
The other component that makes social media advertising so unique Is the ability to target specific audiences more effectively than billboards, mailers or other forms of print advertising. Facebook gives marketers the capability of pinpointing the perfect audience to make sure that the right people are being exposed to your ad. Unlike print ads or commercials which are usually shown to a generalized audience who may typically ignore them.
Another advantage to social media marketing in comparison to traditional methods is it allows you to engage with the audience who is interacting with your ad. Advertising through social creates a two-way relationship, where brands can answer questions and get personal with their customers.