CPC Advertising on Facebook Now Open

UPDATED NOTICE : As of now, it looks like Facebook is going in and taking -maybe legal- action against affiliates using the system to their advantage. I have no clue why or what’s going on, but I would advise doing anything major with Facebook for the next few weeks until we get some more clear answers. Thanks.

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Facebook has launched a both CPC and CPM based advertising platform called Facebook Flyers Pro (the CPM is Flyers Basic). This application allows users to create flyers that are distributed throughout the network where you choose to target it. The minimum bid is currently set at $0.01, and it seems they have some sort of quality score in determining how much you pay per click. From their FAQ :

We select the best ad to run based on the cost per click and ad performance. We have a process in place that will automatically calculate the minimum price that the advertiser could pay and still have the highest cost per click Flyer, and the advertiser will only be billed that price. This price may be below the advertiser’s maximum cost per click. Because we lower the cost per click on your behalf, we recommend that you enter your true maximum cost per click when creating an ad – this will increase the likelihood that you do not miss out on clicks that you otherwise could have received.

What does initially attract me to this is the targeting options they have, here’s a screenshot :

They have a number of pretty nice targeting options that would work out pretty accurately I think. I do know someone in the industry who tested a little with a cellphone ringtone-ish application, and he hasn’t had much success, but it’s only been on a small scale. Given these targeting options though, here’s what I would do (and probably will test) :

• Turn the targeting to singles, ages 18-99, all education.
• Use keywords like “looking for date”, “looking for chat”, “singles chat”, “looking for love”…just keywords like those.
• Run dating offers all day and night.

Now I have no idea how this will work so don’t come after me if you lose some money because you set you CPC uberhigh and lost a nice chunk of cash. It is something to think about and something I’ll play around with and report results.

EDIT: After throwing some flyers up, it looks like the total of all your flyers’ daily spending limits can only be $50…which is pretty beat. Maybe they’ll update it as your account matures, who knows. Maybe I’ll shoot support an email and see if they get back to me with anything.