Facebook ad prices are increasing every year. The latest report shows that the average cost per thousand impressions (CPM) on the social media giant has grown by 171% since January 2017, while the average CTR has increased by 136%. It doesn’t look like the prices are going down in 2018. And with Facebook’s recent announcement about its news feed updates, who knows how many more changes we can expect.
Small businesses are allocating increased funds to Facebook ads. In fact, digital ad spend grew by 23% in the first 6 months in 2017, and much of this growth is coming from small and local businesses, not big companies.