When advertising on Facebook, you can choose from different pricing models. The main models are:
Cost per Click (CPC): You pay for each click on your ad, suitable for driving website traffic and generating leads. Set a maximum bid, and Facebook optimizes ad delivery within your budget.
Cost per Thousand Impressions (CPM): You pay for every 1,000 ad impressions, ideal for brand awareness and reaching a broad audience. Set a maximum bid for 1,000 impressions, and Facebook maximizes delivery within your budget. Keep in mind that Facebook uses an auction system to determine ad placement and pricing. Specify your target audience, budget, and bidding strategy when setting up your campaign. Facebook considers factors like relevance, bid amount, and estimated action rates to determine ad display and price.
In addition to CPC and CPM, Facebook offers other pricing models like cost per action (CPA), where you pay for specific actions like purchases or lead form submissions.
Choose the pricing model that aligns with your campaign goals and select a bidding strategy that maximizes desired outcomes within your budget. Regular monitoring and optimization ensure cost-effectiveness and campaign success on Facebook.