Facebook, the second most visited website in the world, has undoubtedly changed the world of marketing forever. Nowadays, almost every corporation has a social media presence, including a Facebook page where fans can “like” them. But a new analysis by Webtrends found that the cost of advertising on Facebook is steadily rising.
The social marketing and analytics firm discovered that the cost of advertising that encourages Facebook users to “like” a brand on the company’s page is $1.07, on average.
If that seems like a high price to pay for every “fan,” consider the fact that there are over 500 million active Facebook users, each of which represents a user with an average of 130 friends. “Liking” a company page makes them a walking advertisement — and they do so voluntarily. Not only that, but Facebook company pages represent a unique way for brands to reach out to their target audiences directly.
Even though the click-through rate on Facebook ads is declining while the cost to buy them is increasing, it’s unlikely that companies will stop advertising on Facebook. As of right now, it’s impossible to estimate what a “fan” is really worth.
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