Cash In on Facebook App Ads While They’re Still Hot
For the most part, Facebook is not a good place to drive conversions. People aren’t there to seek out information and make purchases, they’re there to entertain themselves and exchange a few words with their friends. Social media presents a tremendous branding opportunity for small businesses, but it’s not the place to make a sale…Unless you have an app you want to get out there.
According to a Facebook ad partner, AdParlor, clicks and conversions for app advertisements are doing tremendously well. Since people are using Facebook to entertain themselves, and apps tend to be entertaining, the cohesion makes sense. And, of course, by targeting mobile users specifically, they’re already using the device that the app is made for.
According to AdParlor, News Feed ads performed the best. They had an average click-through-rate of 0.5 percent, and in some verticals it was much higher than even this.
The ad that they were testing was for a Role Playing Game, so it’s possible that more business-centric apps wouldn’t do quite as well. Still, the numbers are encouraging. Depending on the country, the average cost per sale was between $2.88 and $2.24. This means Facebook’s mobile app install ads should prove profitable for many businesses.
And that’s not even considering the potential for apps as brand-building devices.
But it gets better. Kate Smillie, a product director at Miso, advertised their app Quips on three different networks: Facebook, mDotm, and Tapjoy. They found that Facebook outperformed the other two networks. At $0.45 per click, they had a staggering conversion rate of 26 percent.
The average cost to attain a new user? Just $1.73.
But a word of warning. Kate Smillie also points out that they are seeing their click through rate drop over time, and the costs are going up. As users get more and more exposure to these ads, they are going to get desensitized. Meanwhile, as more and more players get into the market, the ad prices are going to get higher.
Best not wait this one out.
Original Source: https://www.localsurgemedia.com/social-media-1/cash-facebook-app-ads-hot/