The short answer is: it costs as little as $2-$7 to advertise on Facebook.
The ACTUAL question I think you’re asking here is “what do I need to spend on Facebook to get a sale?”. We’ll get into that in just a moment.
And the beauty is, you can choose to advertise whatever you want with that money. There are no restrictions around what you can or can’t advertise based on a small or large budget.
You can choose to spend your $7 as quickly as possible in one day. Or you can choose to spread it across a 24 hours period.
Now For the Answer to The Actual Question
When you advertise on Facebook, how much it costs you to get a sale should depend on the cost of what you’re selling.
If you’re selling Ferraris on Facebook, it’s going to cost you more to find a buyer. Because as you’re probably already aware (being a Ferrari saleswoman or man, there are not millions of people walking around looking to buy a Ferrari TODAY).
If you are the owner of the new popular restaurant in your town, it’s going to cost you less to find one customer on marketing on Facebook.
Does this make sense?
There is a question that is as equally as important to “how much does it cost to advertise on facebook?”. That question is “how much is a customer from Facebook worth?”
Imagine again for a moment that you are the owner of that new hip restaurant in your town, and you DO advertise on Facebook and you DO get a new customer.
That one customer is most likely going to be TWO CUSTOMERS. It’s rare that someone will eat alone in a restaurant.
So in your case when you “make a sale” from Facebook ads, you’re really making two sales. But it shouldn’t and doesn’t end there.
- How many times will these two people come back to your restaurant?
- How many times will these two people bring friends for the birthday?
- How many times will they recommend your restaurant to OTHER friends, close and extended family, and to work colleagues?
When you work these things out (which you should), that’s really the only time that you can answer these two main questions.
Knowing how much you’re WILLING to spend on Facebook ads, will come from knowing how much each new customer is worth to your business, on average.
Their first visit brings you $60, but after multiple “date nights”, their Birthday celebration with extended family and all the people they recommend because your product and service IS ACTUALLY GREAT, that $60 may easily be $600.
I’ve used the restaurant business here just for example. Change the restaurant example and two plates of food to your business. Plug in your numbers and complete your own ‘back of envelope’ numbers.
The cost of Facebook Ads should be less of a worry. Increasing the value of your customers should be a focus because THEY pay for your future Facebook marketing.