I’m gonna give you a quick background – One of the most important terms when it comes to advertising and that’s “CPM”. What does that mean?
Cost Per Thousand
That’s a term that has been around for many, many years. From the era of advertising or newspapers to magazines, radio all over and it’s important to understand this term because it tells you OPPORTUNITY, it tells you how expensive it is to find people, how affordable it is to actually locate those people.
No other platform gets even close to the cost of advertising on Facebook.
Today, if you want to get into an advertising campaign in newspaper, you’re gonna have to pay for every 1,000 people that this newspaper gets distributed to.
If you want to advertise on radio, do you know that you have to pay about $13 and you can’t even put an image or a video or nothing? You can’t even do more branding.
Cable television. Cable television is $12 every a thousand people.
When it comes to TV ads… and I want you guys to understand on television when somebody is watching TV there’s a couple of things going on:
- They have a DVR which means that if the commercials are passing they usually fast-forward them.
- If the commercial happens to come by and they have dropped the remote control by accident… and they’re too lazy to stand up… they don’t even see the commercials. They actually reached out grab their cellphones and go for Facebook while the commercials pass.
Obviously, if you guys were e-commerce entrepreneurs it’s because you understand what’s going on. Because you are entrepreneurs for the e-commerce world so I’m not trying to convince you, I’m trying to give you more reality as to the current state of affairs.
When it comes to advertising on these platforms again CPM, Cost Per Thousand, Google ads is still cheap as compared to television, newspaper, radio, magazines etc. It’s very, very expensive as compared to the other ones that we are going to be diving into.
There’s something called “LinkedIn”. You guys know about LinkedIn? LinkedIn is awesome! Why are they awesome? It’s because they’re actually getting closer to copying the successful system of Facebook.
If you look at the platform right now you know, the LinkedIn platform has been steadily improving. Now they have like a social media platform on it. It’s getting really good but their as product still doesn’t get close to what Facebook’s product is.
Going All the Way Downhill to the Cost Per Thousand
You have Facebook today. If you have your strategy correct. If you know how to communicate a message. Build a message around your brand and do content that is valuable for people, and you’re solving their problems.
You know you can pay $2 putting your message in front of a thousand people? Imagine that. Try getting a thousand people in a conference room. Try getting them in a convention. Do you know that a thousand people is a lot of people?
For $2 you have the potential of putting your message in front of a thousand people. Right now we are living through a great underpriced era of Facebook advertising.