There’s a whole science (and with good reason) developed around how much it cost to get to 1,000 people with your advertising – both in traditional and in digital media.
One research, done by the agency Research Solutions Partner about the population readership of daily newspapers in Serbia, showed that price (in traditional media) for the ad served to 1,000 people will cost between 8,000 and 17,500 RSD. When it comes to weekly newspapers, the figures go from 2,100 RSD and above.
Clear, right? Well, what’s not clear is the fact that we don’t know whether these 1000 people really saw or – in any way – interacted with our ad, let alone responded to it: by going to our website, bought our goods, used our services and so. On the other hand, Internet advertising offers entirely new possibilities, provides specific and easily measurable data so I am making comparison with Facebook advertising.
How much does it cost to get to 1,000 people on Facebook?
The reason for this analysis and this text has been drawn from the article I saw on the same topic, but for the world (the US) market, where the conclusion is that Facebook ad for 1,000 people costs $ 0.25. Almost instantly, I wished to do a comparison at the local level . To be noted, America is a country with over 300 million inhabitants, compared to Serbia, which has just little bit over 7 million. One would think that, at least due to this fact, the price per click will not be the same or similar, however, Facebook does not share opinion with me 🙂
In this analysis, I used 16 Facebook Ads/boosts that were released in April-May this year, with an exchange rate of 120 dinars for Euro in calculation. The result that I received shows that price ad for 1,000 people is 25 – 63 RSD. Yes, those are the numbers: in order to get to 1000 people with your ad, you have to pay 25 – 63 RSD. In some cases, the price is lowered by up to 15 RSD, which happened very few times to me.
Apart from the obvious differences in the price advantage of Facebook advertising/boosts compared to print ads, is the fact that we know how many of those 1,000 people responded to our ad and what they did with it; also, whether or not and how important this ad is for the target group – helping us to gain a clearer picture of what our target audience loves and wants to consume.
If we know that Facebook has almost 1.2 billion unique users a month (who spend about 18 minutes there on each visit) and that – in addition to Google AdWords – has the most accurate algorithm for targeting them, chances are that your ad/boost (beside all that content) will be seen and remembered.
Nuance Media’s infographic about this topic clearly demonstrates the advantages of Facebook advertising over traditional methods. And, although there is an increasing growth of digital advertising worldwide, TV is still the primary advertising channel in Serbia but, hopefully, with this (and similar) analysis by my colleagues, we’ll help brands/companies/organizations/institutions and agencies to understand and embrace the Internet and social networks as equally important when forming advertising budgets.
What are your experiences with Facebook ads and what is the lowest price you paid for 1,000 people?