We analyzed all major data from Ad Espresso, Emplifi, RevealBot, and WordStream based on $3,045,300,000 of ad spend to determine the average cost of Facebook ads in 2023. Based on our data analysis, the average cost of Facebook ads across all industries is $1.11 per click. Remember that the average cost per click on the Facebook ads platform varies greatly based on many factors, one of which is your industry.

Current Facebook Ads cost by industry shows that finance is the most expensive industry to run Facebook ads for, with an average Facebook advertising cost per click of $3.89. Here is the list of all the industries and their Facebook ads average cost:

• Beauty & Fitness Industry has an average cost per click (CPC) ads cost of $1.85.

• Business & Industrial has an average cost per click (CPC) ads cost of $2.48.

• Finance has an average cost per click (CPC) ad cost of $3.89.

• Food & Drink has an average cost per click (CPC) ad costs of $0.42.

• Hobbies & Leisure has an average cost per click (CPC) ad costs of $0.68.

• Home & Garden has an average cost per click (CPC) ad costs of $2.78.

• Internet & Telecom has an average cost per click (CPC) ad costs of $3.07.

• Jobs & Education ad campaign has an average cost per click (CPC) of $2.11.

• News ad campaign has an average cost per click (CPC) of $1.11.

• People & Society has an average cost per click (CPC) of $2.01.

• Pets & Animals has an average cost per click (CPC) of $0.61.

• Real Estate has an average cost per click (CPC) of $1.81.

• Science has an average cost per click (CPC) of $1.33.

Facebook considers clicks on ads to include clicking to react to a post, click to view the image, and of course, a click to your website URL. The only clicks metric that matters to advertisers on Facebook is the clicks to their website URL. The rest of the metrics are just vanity metrics that do not help them increase sales. The best part about this data from RevealBot is that they only include link clicks or clicks to the website URL of the advertiser, so this is highly relevant and accurate data for advertisers to use as a benchmark. Remember that these are only benchmarks, and as you can see above, your Facebook ad costs will vary widely depending on many factors, including your industry and campaign type. 

When setting up your Facebook Ads campaign, you will have an objective or goal outcome that you would like from the campaign. We analyzed the information to provide a benchmark for your Facebook ads cost, whether you are focused on brand awareness, lead generation, traffic, conversions, app installs for app marketers, catalog sales, or video views around the world. The campaign objectives are displayed based on the metric you are focused on for your Facebook ads cost around the world and can be found in Google Analytics too.

Facebook Ad Costs Per Click by Campaign Objective

Based on $3,036,000,000 of managed advertising spend on AdEspresso and RevealBot combined, we analyzed their information to find the average cost per click by campaign objective for ads on Facebook. How Much Do Facebook Ads Cost? Here are the costs for Facebook ads CPC by Campaign Objective:

Brand Awareness Facebook Ads

The average CPC for brand awareness Facebook Ads target audience is $1.41.

Lead Generation Facebook Ads

The average CPC for lead generation Facebook Ads target audience is $0.80 Facebook cost.

Traffic Facebook Ads

The average CPC for traffic Facebook Ads target audience is $0.17.

Conversions Facebook Ads

The average for conversions target audience on Facebook Ads is $0.86.

App Installs Facebook Ads

The information for app installs Facebook ads target audience only includes the $2.4 billion of ad spend RevealBot manages on their platform annually. The average for app installs target audience on Facebook Ads is $0.36 for app developers.

Catalog Sales Facebook Ads

The information for catalog sales Facebook ads only includes the annual $2.4 billion ad spend RevealBot manages on their platform. The average CPC for catalog sales Facebook Ads is $0.35.

Video Views Facebook Ads

The information for video views on Facebook ads only includes the annual $2.4 billion ad spend RevealBot manages on their platform. The average CPC for video views on Facebook Ads is $3.79.

Facebook Ad Cost Per Impression by Campaign Objective

Based on the $2.4 billion of Facebook ad spend RevealBot manages on their platform annually, we analyzed the information to find the average cost per impression by campaign objective users for ads on Facebook.

Brand Awareness Facebook Ads

The average cost per impression for brand awareness Facebook Ads advertisers is $2.45.

Lead Generation Facebook Ads

The average cost per impression for lead generation Facebook Ads advertisers is $21.85.

Traffic Facebook Ads

The average cost per impression for traffic Facebook Ads advertisers is $6.76.

Conversions Facebook Ads

The average cost per impression for conversions advertisers on Facebook Ads is $14.65.

Facebook Ad App Installs

The average cost per impression for Facebook Ad app installs is $3.94 for app marketing ads Facebook.

Facebook Ad Catalog Sales

The average cost per impression for Facebook Ad catalog sales is $13.88 demonstrating rising costs for a media Facebook advertisement.

Facebook Ad Video Views

The average cost per impression for Facebook Ad video views is $8.56.

Facebook Ads Cost Per Engagement by Campaign Objective

Based on the $2.4 billion of Facebook ad spend RevealBot manages on their platform annually, we analyzed the information to find the average cost per engagement by campaign objective factors for ads. 

Brand Awareness Ads

The average cost per engagement factors for brand awareness ads is $0.03 advertisement cost.

Lead Generation Ads

The average cost per engagement factors for lead generation ads is $0.46.

Traffic Ads

The average cost per engagement factors for traffic ads is $0.09.

Conversion Ads

The average cost per engagement for conversion ads is $0.13.

App Install Ads

The average cost per engagement for app install ads is $0.01.

Catalog Sales Ads

The average cost per engagement for catalog sales ads is $0.33.

Video Views Ads

The average cost per engagement for video views ads is $0.01. 

Facebook Ads Cost Per Lead by Campaign Objective

Based on the $2.4 billion of Facebook ad spend RevealBot manages on their platform annually, we analyzed the information to find the average cost per lead by campaign objective for ads is $5.93.

Facebook Ads Cost Per Install by Campaign Objective

Based on the $2.4 billion of ad spend RevealBot manages on their platform annually, we analyzed the information to find the average cost per install by campaign objective for ads is $2.35.

According to the $2.4 billion ad spend managed by RevealBot, the average advertising cost per engagement across all promotion types is $0.12. Broken down by campaign type, here are the average advertising costs per engagement for each type: 

A brand awareness ad has an average advertising cost per engagement of $0.03. 

A lead generation ad has an average advertising cost per engagement of $0.46.

A traffic ad has an average advertising cost per engagement of $0.09. 

A conversion ad has an average advertising cost per engagement of $0.13.

An app installs advert has an average advertising cost per engagement of $0.01.

A catalog sales advert has an average advertising cost per engagement of $0.32. 

An video views advert has an average advertising cost per engagement of $0.01.

Meta technologies allow advertising on Meta, Messenger, Instagram, or the Meta Audience network. When you decide to advertise using an advert on Meta, you decide how much you want to spend to advertise your advert. Some people spend more on coffee than on Meta advertising daily. However, there is advanced Meta advertising which requires a minimum amount of spend to work. You will be notified of this before you start your Meta advertising.

How does Meta advertising cost work?

There are two ways to define the price you pay for your advert using Meta advertising:

1. The overall amount of your costs.

    

2. When you use Meta advertising, you control the overall amount spent using your budget.

    

3. The costs of the results you get.

    

4. You control the costs of your results using your bid strategy. 

Suppose you needed to outline a bid strategy when creating your budget. In that case, Meta will automatically bid for you to spend your budget evenly throughout your Meta advertising run time. Meta advertising has even more ways that you can ensure you do not spend more than your budget:

• Spending limit. Set a maximum budget that you are willing to spend on your campaigns.

• Account spending limit. Calculate and set the maximum amount you are willing to spend across all the marketing you run. 

How to Purchase Marketing on Meta

There are two ways you can purchase marketing from Meta:

1. Using your page on the social media platform. This is the easiest way to purchase marketing but lacks customization options you can only get using Meta’s marketing manager. You can purchase marketing from Meta using your social media page on your mobile device, a computer, or on the social media pages manager app.

    

2. Meta Marketing Manager. The marketing manager interface guides you through creating your campaigns on computers and the mobile app. 

Submit your Marketing Creative to the Meta Auction

The marketing auction determines which adverts get shown to which people. Using information you provided during your marketing creation on your page or in the marketing manager, the auction shows your advert to the people most likely to be interested in it – for the price you bid or less, never higher. 

1. Objective

Your objective is the goal you would like as a result of the promotion. On Meta, there are the following objectives to choose from:

• Brand Awareness

• Lead Generation

• Traffic

• Conversions

• App Installs

• Catalog Sales

• Video Views

The algorithm uses your objective to display your social media advert to the users who fit that objective. If your bid is focused on conversions, your social media advert will likely be shown to Meta users who have purchased on the platform before.

Remember that your chosen objective will influence the budget you need for your social media ad to succeed. Think of social media as a sales funnel; the closer to the top of your objective, the lower the cost, and the closer to the bottom of the sales funnel, the higher the cost. Suppose you know the cost per acquisition and lifetime value and have a smaller budget. In that case, you may want to focus on the top of the funnel by running a brand awareness promotion and then capture that traffic on an email list or using retargeting adverts (these are less expensive) to bring those users down the funnel and convert them to stay within your budget.

2. Audience Size

When determining your audience size, think of the sales funnel again. You want to start your audience broad with broad targeting at first to gather information and figure out who your ideal customers are that have the highest chance of converting. Broad targeting typically costs less than narrow targeting because it is the very top of the funnel you are displaying your media to a cold audience. Once you have gathered that information and you know who the ideal customers are, which have the highest probability of converting. You can take the information you gathered and use it to create narrow targeting that is hyper-specific to focus on displaying your social media advert only to your ideal customers. Narrow targeting typically costs more money since you display your social media advert to a narrow warm audience at the bottom of the funnel with a higher probability of converting. 

3. Your Budget 

Meta uses machine learning technology to gather information on your social media advert in the first seven days; this is called the learning phase. Marketers with a lower budget can expect a longer time to get out of the learning phase. During the learning phase, you could expect a higher cost per acquisition and lower conversion rates. Do not make changes during the learning phase because you will start the process over again and have to wait longer. Once you exit the learning phase, Meta will lower your cost per acquisition and increase your conversion rates because they can deliver more engaging and relevant adverts to the end consumer. Google Adverts has a learning phase as well, which is seven days. 

4. Bidding-Strategy 

The way you instruct Meta to spend your budget will affect your ROI. Here are some bidding strategies to test:

Lowest Cost

Highest Value

Cost Cap

Minimum ROAS

Manual

5. Optimizing for User Experience

Focusing on the user first is one of the biggest reasons your adverts do not convert. Understanding your ideal customers has much to do with marketing strategy and sales funnels. Before running adverts, you should nail down your marketing strategy and sketch out your sales funnel. Doing so will ensure that you understand the people you are targeting online and that they will enjoy your social advertising. Running a broad promotion first can help you gather more information to make informed changes to your marketing strategy and sales funnel. Once your audience is narrowed down to a specific ideal customer that you know based on the information will convert. You can use the information you collected about them to make creative they will love. Here are some tips for doing so:

Find out your audience’s interests. Start with guessing, then run broad targeting and analyze the information to know exactly what they are truly interested in.

The tone of voice. 

Pain Points

Goals and Aspirations

Favorite Influencers

6. Ad Frequency Score

Once you have narrowed down your target audience, you will run into advert frequency score problems. The more times a potential customer sees your advert in their news feed, the angrier and more frustrated they will become. Truth be told, if they do not engage with your advert after three times seeing it, they are highly likely not to engage with it at any point in the future. Instead, their rage and frustration will grow as your advert interrupts their experience. 

Meta is incentivized to deliver a wonderful experience that retains its users on the app for the longest time possible. To combat ad frequency degrading the experience of Meta’s users. They have introduced an ad frequency score into their algorithm, which favors newer, fresher adverts that have not been shown to the same audience yet. 

Keep a close eye on your reporting dashboard to monitor your frequency scores. Once your frequency score moves beyond two or three, create a new promotion by adding new copy, images, and videos to keep things interesting and exciting. 

7. Post-Click Experience

Somewhere between learning about adverts and running adverts, marketers tend to forget that the goal is to convert website visitors to revenue. Once you have captured traffic from the platform on your website, you have to think about the post-click experience. All it takes is a poor user experience that does not guide the user on what to do next in your sales funnel for the user to leave your website and never return. If you do not change your post-click experience to convert, you are flushing your advertising budget down the drain. 

The best way to lower the cost of your Facebook Ad is to test what you are doing and make changes to improve your adverts. Using the factors above that determine your ad’s success, you should also be using the metrics above to measure each of the factors. Use metrics such as cost per lead, cost per acquisition, cost per click, cost per engagement, expense per like, expense per link click, time on page, and more to measure the success and make improvements. Outside of quantitative metrics, you need to test the quality of your adverts by optimizing for the user experience. 

How Much Do Ads on Facebook Typically Cost?

We analyzed all major information from Espresso, Emplifi, RevealBot, and WordStream based on $3,045,300,000 of spend to determine the average expense of Facebook ads in 2023. Based on our analysis, the average expense of Facebook ads across all industries is $1.11 per click.

How Much Do Ads Cost to Find Your Target Audience and What Factors Apply?

In 2023 you can spend about $1.11 per click using the platform, but the costs vary wildly depending on your objective, industry, and products or services you promote. 

What is a Good Budget to Make an Ad for Conversions?

On average, it is best to start with somewhere between 5% to 12% of your revenue as a marketing budget.

Is $5 Enough for an Ad?

Depending on the factors we have discussed in this article, $5 a day may be enough for Facebook Ads, but if $5 is your entire budget, then you are better off not advertising on the platform.

The expense of a Facebook Ad per day could be as little as $1 per day but it depends on who you are targeting, the size of your target audience, and the number of adverts you are running at the same time.