I want to share my experiment with Facebook ads. Hope it will give you some idea.

Why I decided to try Facebook ads.
1. Curiosity. I want to see the power of advertising with my own eyes.
2. I have a little money to spare.
3. I want some traffic.

How it turns out.
At first I decided to spend $15 which is equivalent to RM46. I choose CPM ads, which means I have to pay based on impressions, not clicks. The ads was targeted at a very specific group, relevant to my page. But the number of users in that group is very small, only about 50k. Facebook suggest me to bid around $0.20~0.40 for every 1000 impressions. I choose $0.20, the cheapest one. Surprisingly, after the ads is up and running, I only need to pay about $0.06 for every 1000 impressions. I get 120k impressions and need to pay only $7.80. From that 120k impressions, 1000 people click my ads, which gives me 0.83% CTR (click through rate).

I don't know about you, but I think it's really worth it. $7.80 for 1000 clicks is equivalent to $0.0078 per click. Only 2.4 sen for each click! Out of those who click my ads, about 90% of them "like" my pages. I did some experiment with other ads too (broader target group), and in 2 days, I've reached my budget limit (RM46). For that amount, I've got 1200 new followers on my Facebook page. Would've get around 1500~1600 followers if I didn't do the other ads, since broader target group gives me very low CTR (0.15%).

It's a worthy experiment. For less than RM50, I have the potential to get 1500 fans. If 10% of them check my blog everyday, that would give me 150 unique visitors. I know it's not much, but for a blog which is less than a month old, that is a decent number. And that 1500 fans might bring their friend as well, giving you a new follower for free. Right now my ads have stopped, but the followers are increasing at the rate of 1~2 follower per hour. Slow, but free.

What I've learned.
1. Facebook ads are cheaper than what is written ($0.06 per 1000 impressions instead of $0.20).
2. Choose your target group carefully. It will save you money and give better result.