DIY Facebook Marketing is on the rise.
Managing your own Facebook ads, letting a staff member, freelancer or inexperienced agency ‘have a go’ at ads is a great start to Facebook Advertising.
Understanding your campaign performance and interrupting the data is well, basically like learning another language.
Facebook analytics is a skill that is acquire over time and a whole lotta patience.
Klient Boost recently published an article 104 Facebook Stats to Shake up Your Strategy - a really useful and informative post that dissects the ins and outs of a winning strategy.
I’ve taken my top 11 Facebook Ad Benchmarks from the article to share with you in the hope you find them as interesting as I did.
May the Facebooks gods be with you.
11 Facebook Ad Benchmarks
1) The average click-through rate (CTR) for Facebook ads is 0.90%
The avg. Facebook ad CTR across all industries is 0.90%. Here’s a list of the average click-through rates in specific industries, shared by Wordstream:
- Apparel – 1.24%
- Retail – 1.59%
- B2B – 0.78%
- Technology – 1.04%
- Finance & Insurance – 0.56%
2) The average conversion rate for Facebook ads is 9.21%
The same report by Wordstream revealed that the avg. conversion rate is highest in the fitness industry (14.29%) and education (13.58%). It’s the lowest in the technology (2.31%) sector.
3) The average CPC for Facebook ads is $0.35
When analyzing the Q4 2016 Facebook ad stats, AdEspresso found that the average cost-per-click of Facebook ads is $0.35. In the U.S., the avg. CPC is $0.26.
4) The most expensive day to advertise on Facebook is Friday
According to AdEspresso’s analysis of Facebook ad costs, the average cost-per-click of Facebook ads is at its highest on Fridays ($0.27), followed by Thursday ($0.25).
However, this is a general stat and the CPC might vary depending on your industry, audience, offer, and many other factors.
5) The cheapest time of day to advertise on Facebook is evening
Surprisingly, the cheapest time to advertise on Facebook is arguably the most popular one – the evening commute. AdEspresso’s research showed that the avg. CPC between 4p.m. and 8p.m. is around $0.23.
6) The CPC with Page Engagement campaign objective is $0.12
If your goal is to drive many clicks at a low cost, AdEspresso recommends that you use one of these campaign objectives:
- Page engagement – avg. CPC $0.03
- Post engagement – avg. CPC $0.04
- Link Clicks – avg. CPC $0.12
7) The average cost per action (CPA) for Facebook ads is $18.68
While the report by Wordstream fails to mention what exactly they mean by cost per action, we’re fairly sure they meant the cost per conversion or cost per acquisition.
According to the report, the average cost per action (CPA) for Facebook ads is $18.68. It’s around three times higher for the technology ($55.21) sector and a lot lower for education ($7.85).
8) The average cost-per-like for Page Like campaigns is $0.26
AdEspresso’s research showed that for campaigns created with the Page Likes objective, the average cost-per-like was $0.26 in Q4 2016. It was even lower with Mobile newsfeed ad placement ($0.10).
9) Your CPC increases by 49.82% when ad frequency reaches 2 points
Ad frequency is a Facebook ad metric showing how many times your target audience has seen your Facebook ads on average.
AdEspresso found that once your ad frequency reaches 2 points (people have seen your ad at least for two times), the average CPC increases by 49.82% and the CTR decreases by 8.91%.
10) Your Facebook post’s reach depends on the size of your fanbase
According to research by Socialbakers, the organic reach of your Facebook posts depends on the size of your Facebook fanbase.
The fewer page likes you have, the more people liking your page will see your post in their newsfeed.
What this means is that with growing your Facebook fanbase, you’ll also need to start using more expensive Facebook boosted posts to reach your entire audience.
11) According to an experiment, “Download Now” is the best CTA
AdEspresso ran a Facebook ad experiment where they tested three different call to actions: “Download Now, ”Sign Up “,” and “Learn More.” The goal of their campaign was to get people download an eBook.
So there you have it.
How do your numbers compare?