If you’re not marketing your business on Facebook, you should probably think twice about that. Not only is it an excellent platform to reach millions of customers, but they recently changed their pay-per-click model for the better. Here are a few things you should know about the new changes, and how they affect your business.
What Used to be Included in the Cost per Click (CPC) Campaign
Before making this new update, there were several activities that were counted as campaign clicks, including post and page likes, as well as comments. This was upsetting to marketers for several reasons, the main one being that these were not activities that added any measurable value to their marketing campaign. It was extremely difficult to measure ROI.
What Has Changed?
Facebook is now only counting very distinct actions as CPC activity. They include:
- External links that lead to an outside website
- External links that lead the user to watch a video on a different site
- External links that allow the visitor to install an app
- External call to action links
Advertisers will no longer be charged when users like their page, or comment on a post. This is what Facebook had to say about the update “…we’re updating the definition of cost per click (CPC) on Facebook to only include clicks to websites and apps, and not likes, shares and comments.”
What You Should Do Next
When you’re running a business, it’s important to measure your return on investment for any marketing campaigns. This new change allows you to do just that, and tweak your campaign accordingly. If you’re not currently using Facebook for marketing, the first thing you should do is familiarize yourself with the platform, and read over the advertisers section of the Facebook for Business site.
If you’re already using Facebook to market your business, then the next thing you need to do is strategize on how to get the best use out of the new CPC model. Some questions you may want to address are:
- How can I optimize my ads to get more of the clicks that drive leads, and increase revenue?
- Should I invest in additional visual content marketing?
- Which of my ads have generated the types of clicks that Facebook has included in this change?
Addressing these questions pertaining to your campaign will help determine the types of ads that you want to test with the new updates. You should also work on a strategy that will capitalize on increasing likes, shares, and comments, now that you don’t have to pay for them.
We know that some of this activity translates into business leads, regardless as to how hard they are to track.
Some Facebook Stats You Should Know
Whether you’re a current Facebook advertiser, or looking to promote your business on the platform for the first time, here are some interesting stats:
- Five new profiles are created every second.
- 4.75 billion pieces of content shared daily
- There are 1.25 billion mobile active users
- 30 million businesses now have a Facebook Fan Page.
- Facebook users bought $234 million worth of virtual goods and gifts on Facebook over the last quarter.
- People search 1 billion times per day on Facebook.
Now that Facebook has changed its CPC model, you can expect a lot more businesses to use the platform for marketing and sales leads. This means increased competition among both large and small companies, and a more crowded space for users in terms of ads running in their feeds. And of course, costs per click will likely increase as well.