Posted at Nov 15, 2019 3:07:00 PM by THAT Agency | Share
When looking at Facebook ads and their results, it is helpful to have some context as to whether the numbers are good or bad. The social media giant is notoriously tight lipped when it comes to exact averages for cost per click (CPC), cost per thousand (CPM), or click-through rate (CTR). But this is critical information in determining, for example, whether you’re paying too much for an ad or what a good conversion rate is. Fortunately, AdStage has aggregated data from over 13 billion impressions and more than 209 million clicks to help establish some 2020 Facebook advertising benchmarks.
2020 Facebook Advertising Benchmarks
The more data you have, the better.
Facebook Audience Network
This is an off-Facebook advertising network designed for mobile apps. Advertisers can deliver ads to customers who are using apps and mobile sites other than Facebook.
CPC: The median CPC for Facebook ads is $0.72, up $0.53 from the same time in 2018. This is obviously a significant increase.
CPM: The median CPM also trended sharply upward, landing at $7.00. It’s increased $4.59 from $2.41 at the same time the previous year.
CTR: The average CTR for Facebook ads is 0.99%. Unlike CPC and CPM, this decreased substantially from 1.32%.
CPC: CPC rose in news feed too, from $0.48 to $0.63.
CPM: A decrease here: CPM is $8.40, down from $11.21 the same time last year.
CTR: Median CTR is 1.33%, representing a 43.6% decrease compared to the same time last year.
Messenger can be a potent tool in your marketing toolbox. Let’s look at the numbers:
CPC: This is down from $1.09 last year to $0.82 this year.
CPM: Cost Per Thousand is at $6.30, a jump of 6.6% over last year.
CTR: This is trending up in Messenger: this time last year, it was 0.54%. Now: 0.78%.
What does this mean for your Facebook ads strategy?
Well, it gives you a glimpse of the landscape, but a variety of factors determine how well your Facebook ads perform (e.g., creative, targeting, budget). We recommend executing cost-effective campaigns that drive quality traffic to your website and converts. A few tips:
Keep graphics bright and feature people in the creative. Statistically users respond better to ads with images of people opposed to custom graphics.
Avoid too much text. You get penalized for being too wordy in your graphic and your ad may not get approved.
Zero in on targeting. The more specific your audience, the more efficiently your ad should run. Focus!
Ensure ad copy is detailed but concise. Entice the user to click.
Need help making sense of 2020 Facebook advertising benchmarks or planning effective campaigns? Get in touch with THAT Agency and we’ll start prepping for a bright and profitable new year.
Want more awesome digital marketing tips? Check out our other blog posts here!