Until recently, Facebook has only had two paid options to advertise your business in their social community. “Cost per click” and “Cost per thousand impressions”. CPC, cost per click, has been around for a long time and is just like pay-per-click search advertising. CPM, cost per thousand impressions, is a more recent introduction and offers advertisers the option of paying Facebook for every 1,000 impressions Facebook generates for your business.
Now, Facebook has a third option and they claim it will be more beneficial for your business. “Cost per action” is the newest advertising option and will allow the business to set the action they want to pay for. So for example, if you want to pay for new fans, Facebook will run your ad, and once you get a new fan from that ad, you pay Facebook.
That got us thinking, “What’s a Facebook fan worth to your business?”
For many small businesses, the answer is probably not too much.
Would you rather pay hundreds of dollars to buy fans that won’t interact with your business page or have a few genuine die-hard fans that promote and support your business?
Those genuine fans will do far more for your business than any number of “bought” fans that may casually like your business but not really support it. There are more effective ways, like content marketing or pay-per-click, to spend your internet advertising dollars.
JASE believes that there is power in social media, to connect and engage with your fans, but it cannot be the sole source of marketing for your business. If your business has thousands of “bought” fans and they do nothing to help your business, how much are these fans worth to you?
image credit: afagen on flickr