The price per thousand contacts is getting higher – marketers are concerned about affordability. The social media platform Facebook is gradually becoming too expensive for many brands.
According to a survey by marketing platform LiveIntent, 85 percent of advertisers are concerned about Facebook's increasingly high per-touch price - the price they have to pay to reach 1,000 people on the platform.
Opposite Facebook “Growing dissatisfaction”
“Facebook, along with Google Search, is essential for all brands that want to grow their business. But there is growing discontent over the ever-increasing cost of advertising on the platform ,” says Kerel Cooper, senior vice president of global marketing at LiveIntent. Sooner or later, these high prices would make Facebook unattractive as an advertising platform.
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LiveIntent analysts surveyed more than 200 marketers who spent more than $100,000 on Facebook ads in October 2019. Almost half (42 percent) of those surveyed invested more money on it in 2019 than in 2018. This is consistent with a previous study by LiveIntent, which found that the price per thousand contacts has increased by 90 percent since last year has risen and continues to get higher and higher.
“Diversify advertising spending”
About half (47 percent) of advertisers surveyed fear that they will no longer be able to afford Facebook advertising in the future if prices do not come down. “The benefits of advertising on Facebook – such as reaching specific audiences with targeted and measurable campaigns – are not just limited to this platform. If marketers want to keep up with rising costs, they should diversify their advertising spend and turn to other platforms, says Cooper.
This might also be of interest:
Facebook limits the number of advertisements displayed. From 2020, social media giant Facebook will limit the number of advertisements that a page on the platform can show at the same time. on this topic here .
via Pressetext.com , article image: Shutterstock / Sasha Ka
Notes:
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