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I was logged into my Facebook account the other day and a notice popped up telling me that Facebook Flyers, the internal self-service advertising system inside Facebook, had released a new version where you only pay per click.

Yes, that’s right, a pay per click advertising system to target the highly lucrative Facebook userbase. It’s called Flyers Pro and can be found by clicking the advertisers link in the footer area inside Facebook that looks like this -

I don’t know about you, but I think this is pretty exciting news and represents an amazing opportunity, especially now since the service only recently went pay per click.

Remember what Google AdWords was like before everyone started using it? It was cheap and easy to get traffic since the competition wasn’t present. I suspect Facebook will fill up with advertisers quick enough since word travels fast nowadays, but there is a golden opportunity to tap the high disposable income student demographic currently using Facebook before everyone catches on.

If your business targets students or you are an affiliate marketer who knows your craft and can find good products to promote to students (think loans, holidays, scholarships, ring tones, alcohol, t-shirts, party products, magazines etc), this represents an AMAZING opportunity.

Pay Per Click Vs Pay Per Impression

I tried the Facebook Flyers system to sell BetterEdit editing services and as a means to recruit students to put up posters for the business on campuses, back when it only had a pay per impression flyer option. Facebook certainly isn’t short on page impressions - they have some serious inventory to sell given how many millions of students use the service, the length of time a user stays logged in and the number of pages they view each visit. Unfortunately my results were quite terrible. I got very few clicks and no leads.

I expect my results were poor due to the lack of time I spent using the system and my likely poor ad copy. I really didn’t know what I was doing and just wanted to test it out since the demographic seemed so perfect.

With a pay per click advertising system in place that really changes the ball game, since you only spend money when you drive traffic. I suspect the direct marketers are salivating at the potential to generate leads from Facebook. I do wonder whether Facebook has or will have some kind of quality measure to keep the quality of advertising to a certain standard.

Demographic Targeting

When I saw this screen I got REALLY excited. Check this out -

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