Funny was just about to post the exact same thread.

Just started yesterday(FB PPC), with objective to sell mobile sites to small business owner's as a foot in the door for bigger/high ticket items.

Process right now is get them intrigued for it, once ad is clicked brings to landing page with video explaining benefits of mobile site and a contact form for a free mobile mock up.

Ideally I would like a 3-5% conversion for details for a mock up and from that 10%+ conversion into sales from the mock up leads. First time trying to sell my offline services via FB PPC so no idea if this is realistic or not but well see how it goes.

Results so far(since last night):

ad reach: 31 200
Clicks: 32
CTR: 0.025%
average CPC: $0.69

Opt ins for mock up: 1 (Although doesn't seem too promising)
Sales: 0

So far this is obviously terrible but just started and going to optimize the campaigns with split testing images/copy as well interest groups.

Should be able to drop CPC below $0.4 with enough tweaking etc, curious to see how it goes.

Going to run a ton of ads across the next 30 days and see what happens, hopefully it works, if not still fun playing around with it for other projects!

-Eric

Facebook is on fire right now since they released there API for use.
You can now upload a custom audience and run ads for pennies that are so highly targeted that the conversions are insane.

It is like standing in front of a hungry crowed saying free food..

I do not know why everyone is not jumping on this well it lasts...

The answer to your question on the amount spent.. I usually start a campaign with 5 variations at $10 a variation.

Facebook advertiser-consultants are making a killing, much more so than with PPC. You don't hear about it because why would you.

This is despite the fact that the learning curve is less than a week. Even Facebook must be wondering how much easier they have to make it before advertisers really sink their teeth in...

relevant: Facebook Simplifies Ad Tool and Asks ‘What’s Your Objective?’

facebook is a one of the big flatform to use .. simply if you know proper ppc and know proper targeting where your audience is located than it will be benefit to you but as i researched it is best for eCommerce related website ..

It's about $500 per week. I am using facebook ads to sell clickbank product. I am not using facebook ads only but also using SEO to drive traffic

My budget is around $50 a week.

hey jennifer

you can still target with use of 50$ all what matters is right audience ... apart of that if you have small budget than you can also apply for facebook coupon of 50$ to 75$ which increase your budget ..

let me know if you need any help ..

best of luck ..