Facebook advertisement has become increasingly expensive. We mean it is not cheap. Unlike in the past, you need real budget to have impact on Facebook because big brands are spending huge there and nothing for small companies.
But there is a way especially if you are in Nigeria. On average, you double your reach for the same amount of money if you post your advert from Nigeria and in Nigerian naira. Facebook is providing a kind of “discount” over currency exchange rate.
We want to post this advert on Facebook and these are the options:
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- Facebook delivers an option to pay in Nairal. Notice below that N5,000 will get you around 9,000 to 23,000 people.
2. Now flip the currency to dollar which ideally is $10 (for N5,000) using the black market rate. At $10, you get 5000 to 14,000 people. On average this is half of the value for N5,000.
We do think Facebook is using an exchange rate in the neighborhood of N250-N300 per dollar. But if you have dollar, you can easily exchange for N500 or more. It is better you run your campaign in naira. Nigerian advertising houses can make this distinction to their foreign partners. They will get more value running campaigns in naira over USD.
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