Back in March of 2013, I ran a Google ad for Monster Cache. I had a $150 coupon if I spent $50, or in other words, $200 worth of advertising for $50. That $200 only got me about 20 signups as far as I could tell. So roughly $10 per signup, which is horrible.
A couple weeks ago I got a coupon from Facebook for $50 advertising credit without having to spend anything. So I started a Facebook ad yesterday. It works very similarly to a Google ad. You set a daily budget, you give it keywords and other parameters to target your audience, and it charges you per impression based on how "valuable" your target audience is, or something like that. I set my daily budget at $10/day, which I think is considered laughably low :-) But I'm not in a hurry and I want to see how it works before spending a bunch. So far I have spent $18 and about 16 people have signed up. That's just over $1 per signup, or about 10 times better than Google! Its' also resulted in 3 Facebook page likes, and 18 people who like my Facebook advertisement itself, LOL.
I'm also finding that the Facebook Ad Manager is easier to understand and navigate than the Google ads. I originally uploaded 2 images. It created 4 separate ads: one for the News Feed and one for the Right Column for each image. Of those original four ads, only one seemed to be getting many clicks -- the one with the large image in the News Feed. The others had used up $2 with no results, the large image in the News Feed had used up $16. Surprisingly, most of the signups it generated were in our European countries, not the US. So I took the good ad and split it into two more -- one for US only and one for Europe only. Now I want to see if the European ad clicks might be cheaper, so maybe I can get the price down to less money per sign up. (UPDATE: Turns out the European ones were more expensive).
Here's a screen shot of what my ads look like now:
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