For every advertisement campaign the marketer always targets the platform where maximum potential customers can be attracted. Facebook with over 1 billion users from across the world with maximum engagement is leading the social media market. Every businessman is eager to utilize it for maximum sales generation. Facebook offers 4 types of advertisement plans depending upon the need of the marketer. Facebook advertisement can work best if you have opted for the best suitable plan.
If you are confused about understanding the types of plans and need to know the basics to decide further for your campaign, then is the right place for you. Below are the four types with their respective explanations to assist you in picking the best for you.
Let’s understand, which is the best type of Facebook advertisement?
The Facebook advertisement plan is basically associated with the four types. Two basic bidding strategies and the other two are combinations of two to provide you the ultimate pathway for achieving your target.
Cost Per Click (CPC)
This is the most frequently used strategy. It is an action plan that directly forces the visitor to click on the ad which is linked with the money or company official website. The best part in this strategy is that you will only pay against the clicks. This means when someone will click you posted ad only then you will be charged.
In this strategy the quality and usefulness of your ad is optimal. In case of poor quality Facebook advertisement the admin will stop showing your ads. One drawback in this strategy is that anyone can click on your ad whether he or she is interested or not.
Cost Per Impression (CPM)
Facebook advertisement through cost per impression also exists. According to this plan you have to pay against every thousand impressions. An impression means the appearance of ads over the pages. This advertising plan is best for the companies who are interested in working on their brand awareness. You ad will randomly posted on different pages to cover the 1000 impressions randomly.
This might cost more than you save in response. This is why it is often considered as least effective strategy.
Optimized Cost Per Impression (OCPM)
This is an advanced option with improved features to enhance ROI of your Facebook advertisement. This strategy allows you to filter your audience to show your ads only to those with maximum chances to be converted into sales.
It also allows you to direct your Facebook advertisement towards your desired result. You can specify whether you want someone to visit your website, to maximize engagement level, to target conversion or get page likes. There is so much more about this strategy that can make it an ideal plan for reducing extra cost.
Cost Per Action (CPA)
Cost per action is also a Facebook advertisement strategy. In this strategy you are likely to pay against every action made by the visitor on your demand. For example if you are bidding against page like, the most pages likes you will receive the most cost you will pay. It is considered as a bit more expensive as compared to the above mentioned types. Here you are directly paying against your desired action.
Concluding my discussion here, all of these strategies have their own proc and cons. We cannot say any one of them as the best one because it is all depending upon the requirement.