I wanted to share with you a great article I found on a blog about the cost of marketing on Facebook. It has been a long time now that I have interested myself in social media marketing, and it is impressive how fast it grew.
You can check the figures, they talk for themselves. But I just wanted to underline some facts about it, that I believe are interesting to understand and notice:
- It does cost money to communicate on social media. A common wisdom, especially at an early stage was that it was cheap and almost free to communicate on social media. Also, a lot of people thought it would be a great opportunity for small business to communicate, as it was a fast growing medium, and the freedom of speech would bother and limitate big corporations. However, it is the total opposite that happened, as the medium became pricy, and the efforts need to be high in order to bond with the community.
- There is no cost scaling possibilities.Whatever your number of followers/fans is, it will cost you per user about the same price. It is very diffferent from the other "direct marketing" tools, where the bigger the data base, the cheaper the costs are.
- There are big gaps for cost per clicks. Now it would be interesting to see the return on investment of the different categories. Indeed, cost per click is not really important. What does really matter is the conversion rate, and the way you may transform one lead into a customer.
