Research agency Statista did a similar survey worldwide into online media consumption and this resulted in an increase of 21% when it comes to the use of social media channels. So we are more online, which makes it easier to achieve a lot of views. But what about the costs? Also read: This is how you remain visible as an entrepreneur on Instagram in corona time [5 examples] Facebook reaches lowest CPM in ages Besides the online media use of the consumer, another important factor of your campaign result is what the competition is doing. In Facebook, not only your industry peers are competitors. You compete with organizations that are currently advertising to the same target group.
Less For the Same Ad Better
The offer For now I will focus on one part of the auction, the bid. You can set the bid in Facebook in many ways. You can opt for an automatic bid where Facebook tries to achieve the best results at the lowest possible cost. But you can also opt for a manual bid where you bid more than the competitor. Are there now fewer Thailand Phone Number companies that advertise on Facebook? Facebook itself said the following about this in their Q1 report of 2020: We experienced a significant reduction in the demand for advertising, as well as a related decline in the pricing of our ads, over the last three weeks of the first quarter of 2020. At the end of March, Facebook saw a significant decrease in companies that advertise, and therefore also in their advertising prices.
For the Same Ad Better
It is estimated that about 30% of advertising revenue comes from the travel and film industry. You can imagine that those sectors have put all marketing budgets on the back burner. This is how Facebook runs according to Needham & Co. Analyst Laura Martin has lost $50 million in advertising costs just by postponing the new James Bond film ‘No Time To Die’. Compare periods With this knowledge, we compared the campaigns of our customers from 1 March to 30 April with the same period last year. Many KPIs in your campaign depend on the quality of your campaign. A lower CPC says nothing about the amount of competition and can be entirely due to the quality of your campaign. The KPI that says the most about lower costs is cost per 1,000 impressions (CPM). So we focus on that in the comparison. To compare apples to apples, we compared all campaigns with the optimization goal of website traffic on both Facebook and Instagram . As you can see below, the difference with last year is huge. The cost per 1,000 views is down 66.5% on Facebook and 65.9% on Instagram .