Arguably, the best platform for advertising, Facebook advertising is unlike advertising on traditional mediums. Not just it takes you to a whole new level of reach but the best thing about Facebook advertising is that there is no minimum cost to advertise on Facebook. Yes! This is something that most people don’t know. Whenever the subject of digital advertising comes up, most of us wonder how much does it cost? Though there isn’t a definite answer to this question in general Facebook advertising cost in Singapore, typically depend on the size of your business, your target audience, and mainly depends on how much money you are willing to spend
In Singapore, Facebook advertising cost in Singapore is cheaper than most other advertising platforms. It is in fact super affordable that you can work even with the smallest budget which makes Facebook advertising an excellent option even for small businesses. Now, if you are looking for more information and pricing details about Facebook advertising cost in Singapore, then you have come to the right place. Below are all the key facts and points you need to consider before diving into Facebook ads.
- Why You Should Advertise on Facebook?
- What are the Advertising Options on Facebook?
- How Much Does Facebook Advertising Cost in Singapore?
- What are the Factors That Influence Facebook Advertising?
- How to Do Budgeting for Facebook Advertising?
- What Are The Latest Facebook Ad Strategies in 2020?
Why You Should Advertise on Facebook?
You should definitely advertise on Facebook mainly because you are buying traffic and key data from Facebook. Unlike any other platforms, Facebook allows you to target you a niche market and is able to get a niche market following for you. For example, if you are running a small restaurant in your local neighbourhood, Facebook has the ability to get all the attention of potential customers living within the area through its location feature.
On the other hand, if you are running a campaign to drive leads and sales directly, then you are probably less interested in the actions people take on your ads. And you should focus your attention more on cost per action or cost per conversion. Just think of Facebook as a giant landlord that sends online traffic to your Facebook page based on your advertising spend. Facebook charges you by cost per click so the goal is to turn those traffic or clicks into leads and customers.
What are the Advertising Options on Facebook?
There are numerous options are available as far as Facebook advertising is concerned. Below are some of the types of Facebook advertising campaigns that you should incorporate in your marketing plans.
This is most probably the cheapest way to advertise on Facebook, in fact is costs you nothing tall. It simply works where our page and posts will get likes from Facebook users. Nonetheless, it is hard to tell whether those who like your page and posts are really interested in buying whatever you are selling. But like can help you determine your target audiences who are interested in your business. A Like campaign will boost engagement on your Facebook page as well as ensuring that whatever new likes that you get translate to business opportunities.
This type of ads is extremely beneficial for those who want their posts to reach as many people as possible. Let’s be honest, relying on organic reach alone may not give your posts the visibility that they need. That is when boosting comes in handy. By boosting a post you are almost seen by everyone who is within your reach. But, when boosting you should limit your fan base. Targeted people that are outside your current fan base as it will help you get more new followers.
Traditional Facebook Ads
The traditional Facebook advertisement, it is good for all businesses but it best to start small and slowly and gradually increase your advertising budget. Throwing a large amount of money towards Facebook advertising at the initial stage can end up costing you even more for every lead. And the best thing about Facebook advertising is that it allows you to test different target groups and ads gradually with less money before increasing the expenditure on those that seem to work.
How Much Does Facebook Advertising Cost in Singapore?
We will be very clear, there is no specific magic number when it comes to Facebook advertising cost in Singapore. The costs depend on a variety of factors that we have already discussed above. The cost for one-click can range from $0.10 to more than $2, depending on your requirements and other factors. As we said earlier, the cost largely depends on you so you decide how much you’re willing to spend and form a budget for yourself.
What are the Factors That Influence Facebook Advertising?
Not just Facebook, all other online advertising platforms such as Google and Instagram base your advertising costs on two main factors:
- Competition in your market
- Quality of your advertisement.
Now, it is pretty simple to crack the algorithm of Facebook advertising. If many advertisers are going after the same demographic groups as you then be prepared to pay more. Vice versa, if you are the only one, or the rare few, then the costs will go down. Plus, different industries require different costs. Usually, industries to do with beauty, services, e-commerce, technology, and education are more expensive.
Apart from that, like Google, Facebook too rewards advertisers that meet its users’ needs with cheaper advertising costs. This is to ensure that users’ experience is smooth and also a safety measure to keep spamming off the beat. So, make sure to take your time and understand Facebook advertising fully, if not you’ll be spending unnecessarily! Again, take all the time to understand your target audiences’ needs and to come out with ad copies that could relate to them.
How to Do Budgeting for Facebook Advertising?
It is no tough maths, to be honest, to determine the cost of clicks campaigns! All you should do is multiply the average cost of each click by your campaign duration and daily click target.
For example, if you are using Facebook advertising, the average cost per click is SGD 2.00 Therefore a one-week campaign will cost $2.00 × 10 daily clicks × 7 days = $140 per week.
Generally, these numbers are just averages since some businesses are likely to have higher costs. Especially if you are in competitive industries like event managements and niche target markets, you need to have a higher budget for your digital marketing. This will give your campaign the best shot of success, You should also always have a large initial budget as it will prevent a collapse of your campaigns in instances where you experience shortfalls.
What Are The Latest Facebook Ad Strategies in 2020?
In 2020 where the digital world has literally taken over the world, having a solid Facebook Ads plan and using the right tools to execute it has become more important than ever. Below, we have rounded up the latest key strategies that can determine between a successful and failure running ads on Facebook this year.
1. The Use of AI, Automation & AR
Facebook has been investing heavily in artificial intelligence (AI) to help improve the performance of advertisements on its platform. Though, not all of the tools are there yet, but they are worth testing to see if they improve your ROI. For now, you set your budget using AI on Facebook. Facebook uses that along with your bid strategy to maximize your spend. Apart from that, Facebook’s AI will choose your ad placements and can help run your ads on Instagram, Audience Network, and Messenger as well as Facebook and optimizing for cost.
2. Mobile Domination
In case you didn’t know, 93% of Facebook’s ad revenue comes from mobile advertising, which means your main audience is mobile users hence mobile-first is the way to go. The biggest difference between mobile ads and desktop ads is what’s under the image. On the desktop, there’s a headline and description, but on mobile, there’s just a URL and headline. So, when writing copy for mobile, you need to make sure all the important info are short and crisp. Lucky for you, as there is Facebook’s Mobile Studio, a platform to advertise for mobile users. This platform allows you to create dynamic motion-driven mobile ads from your mobile phone in minutes!
3. Advertise on Facebook Stories
You may wonder, Facebook Stories but isn’t that’s what Snapchat and Instagram were for?! Like, its previous counterpart, Facebooks stories are very popular, in fact, 500 million daily users are engaging with this feature. Just like Instagram, Facebook Stories are photos, videos and posts that are only available for 24 hours whereas Live videos disappear after you stop broadcasting. You Facebook stories ads can just be a simple mobile-shot video or ‘selfie-videos’ that represent your business and its objective. Depending on your objective, strategies may vary! Facebook also offers poll stickers for Stories Ads, which can help increase engagement so make sure to use those!
4. Make More Video Contents
Video has and will continue to be the best way possible to engage with your audience. Every day on Facebook, about 8 billion videos are viewed which most of those views coming for mobile users. So if you want to compete for the top spot then you have to be creating mobile-friendly video ads. The most important thing you need to know about video ads is that 85% of them are watched without sound. That means you need to include captions in your videos. You can automatically generate captions and edit them on Facebook. Try running a mock video ad first and you can use the results to create a video engagement custom audience from the people who engage with your videos!