I just learned the coolest thing about Facebook advertising, CPM advertising! (apparently it has been around for a while) CPM allows you to pay per 1,000 impressions (different from CPC where you pay when someone clicks on your ad). Think of CPM as a billboard. This is great for big brands like Coca Cola and Big Budget Movies (like Avatar) that are going for mass appeal.
So… how can CPM advertising help you? Here are a few ways:
New Restaurant/Coffee Shop/Retail Store Opening
Studies suggest that people need to hear a company’s name at least seven times before they trust and respect it enough to become a customer. By posting an ad in the background people will be more familiar with your store name. So if they walk by it they will be more likely to walk in or say something like “Yeah… I heard about that place somewhere.” The reason this can work well for physical retail stores is because on Facebook you can target a specific location (just like a billboard).
Have an Image of Hot People in Your Facebook Ad
A great way to get people to click on your ad is to have a picture of someone hot. This way you don’t have to pay for the actual clicks. If you use this strategy you better have a good way of converting the new visitors after the click otherwise you will end up with angry visitors.
Make Yourself a Brand
Sometimes all you need to do to get new business or increase your current hourly consulting rates is to be a mini celebrity. Advertise yourself like crazy based on keywords. I’m assuming the person below is using the keyword “Social Media”.
Give CPM advertising on Facebook a shot. It could seriously slash your advertising costs.
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