Is Facebook's Pay-Per Click worth the expense to a Small Bicycle Business...Hmmm...NO! Believe it or not, Facebook probably has the most sophisticated consumers of any Social Networking page out there.
I will not waste space and quote their market demographics but it is safe to say that the average consumer on Facebook is much more savvy than the MySpace crowd. People with Facebook profiles tend to be Home owners whereas Myspace users tend to be renters...blah..blah..blah!
I have personally used Facebook's PPC advertising so I speak from experience when I tell you that the MOST VALUABLE piece of this for small bicycle business is not the 'Cost Per Click' but rather the 'Cost Per Impression'.
The difference in a nutshell shell is the cost to get someone to click on your ad could vary from 15 cents to 50 cents depending on your keyword selections.
Bikes are normally considered mid-level to high ticket items so that cost may seem small. It even becomes more attractive IF the bicycle biz drop ships the item. Customer clicks on ad, arrives at your website, buys a bicycle, you ship it and life is good, right?
How many people buy WHOLE bikes from websites though? Especially from an unknown small business? Parts...YES! But bikes are something that a discerning buyer wants to touch and feel.
After all reader, how many times have you purchased a complete bike off of a website?
Is it any wonder most companies put more focus on helping you locate a dealer as opposed to selling straight from their site.
For a small business, CPC can get expensive so I suggest you focus more on the Cost Per Impression! Facebook can get your ad in front of, say 17,000 people in a few days (if keyword is searched), out of that, maybe 150 people will click in your ad.
Let's assume that the 'Cost Per Click' is $.40, that would be $60 per day using CPC. If you have that kind of money...JUST for people to see your business that probably won't buy ($420.00 per week) GO FOR IT!
In contrast, CPM (Cost per Impression) gets your brand out in front of people who will see it, but may not click on it, therefore it will cost you no money!
What a great way to build your brand folks for LOW COSTS!
16 October, 2009 Labels: .bicycles., .bike, .bike design, .bikes, .iver johnson bikes, facebook, myspace.com Posted by Dale 5:09 PM