Companies to Pay $1M for Facebook Video Ads
Facebook Video Ads. According to Boston.com, companies interested in creating video advertisements on Facebook will need to not only pay about a million dollars per day, they will also have to pass Facebook’s creative team’s vetting.
If Facebook is going to blast a video ad to a significant subset of its 1.3 billion users on a daily basis, they want the ads to be artistically meritorious. The Facebook video ads will automatically play, but they will do so without sound.
Metrics will be apparently available for advertisers (and they certainly should be there, for that kind of price tag!).
For that sort of exposure, the price tag may very well seem reasonable to a large corporation looking to make a splash. Consider the cost of Super Bowl advertisements. Bleacher Report claims that a 30 second spot in 2014 went for four million dollars. However, only about 111 million people were expected to tune into the 2014 Super Bowl.
Facebook is the Big Gorilla of Social Media
Facebook has over ten times as many users as the Super Bowl has viewers. However, they would not all be served the same video ads. But this is not a problem. Even assuming the same number of viewers as in the Super Bowl (which would be about eight and one-half percent of the total number of Facebook users), Facebook’s cost is still only one quarter of that for advertising a 30 second spot at the Super Bowl.
Is it worth it? Companies will need to carefully measure not only clickstream data, but they will (or at least they should be) closely monitoring conversions.
If your company had that kind of money, and that level of creativity, would YOU recommend video ads on Facebook?