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In short, is it worth it?
What do people think about it? Has anyone done it to promote their series?
Currently half-way through a test run on Facebook ads and will list the pros and cons so far. I will update a month or so after the ads have stopped running.
So far I would recommend facebook ads. It seems to be a cheap way to increase your presence on Facebook. My tips for you are to make sure you have good key words, and your bid it high enough to win the bidding auction. You may not have a lot of money, but making an ad won't matter if your ad doesn't have the funding to get seen.
Right now we are doing a test run with it. To see how well it does, and figure out were we want to go in the future. I only have a $30 total budget set. After that I am going to evaluate all the data and make a decision on how much to put into it for the next advertisement campaign. I have given a max limit of 50 cents CPC, but the highest I have had to pay is 22 cents on a click. My average cost per click is 16 cents.
IMO advertising on Facebook is currently the most affordable option in growing awareness of your brand. Engaging the fans is important and seeing the number of followers grow is rewarding. In the end producers are going to have to become serious about how they monetize their production with those fans.
A very interesting topic that is the news as of recently is Facebook's IPO. I encourage everyone to take look into this. There are discussion on how FB, Google and some other social media outlets monetize members. (They have to pay their bills to). Facebook has an upward battle ahead of them as they go public and in will raise some eyebrows on how the users will respond down the road.
"In the end producers are going to have to become serious about how they monetize their production with those fans."
I monetize the WSN Facebook fan page by charging to post material on it. We have 18,000+ fans with a 47,000+ weekly total reach. Creators and advertisers have actually paid me to promote them on our fan page. LAWEBFEST has advertised with WSN. Anyone looking to increase visibility in the web series community can advertise with WSN. I preach growing your audience because there's always someone looking to get in front of that audience. You also have to be business-savvy too and know your metrics (which you'll need in dealing with advertising inquiries, etc).
$30 monthly budget @ 16 cents a click (minimum) = 180 clicks per month roughly. You're essentially getting 6 clicks for every dollar spent. What is your goal here? Where are you directing those clicks? Your website or Fan page?
currently they are being directed to our facebook fan page. Right now we are just trying to spread awareness of our group, and get fans to talk to. From what I have gathered so far people are more willing to engage on a platform they are already established on (their social network, or youtube) instead of signing up for a new website and posting there. Right now we are looking for fans who will regularly check out our content, and talk about it. Down the line, once we get some more funds for it, we are going to upgrade our website to make it more engaging (adding forums and stuff like that)
Not a bad idea. :)
This is really interesting information. While we aren't quite ready for FB ads yet, I think that we will take them on in a few weeks/months as we prepare to release the series. Thank you all for the invaluable information.