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I scored $250 in free Facebook advertising by signing up for the Visa Business Application ($100 free ads credit) and grabbing $150 in coupons from NeilsWeb.com (down at the moment) and while it’s great to get a bunch of free advertising from Facebook, the results are quite underwhelming.

As you can see below here are some results on 5 campaigns I started this week and the best performing one is getting a 0.03% CTR. That means for every 10,000 times the ad is shown I get a whopping 3 clicks. I’m trying to think of a stronger word for abysmal to describe the results, but nothing comes to mind right now.

I’m not the only one experiencing these kind of results with Facebook Ads as is evidenced by doing a simple Google on Facebook ads success. It looks like no one is having that much success at this point and what’s interesting is that these ads were touted to be a new and unique way to advertise on the web and extremely targeted to just the right audience you pick. From reading some of the articles that come up in the above search, it looks like it doesn’t really matter if you “highly target” your campaigns or not, you get the same dismal results. With Microsoft’s investment driving their perceived value up around $15 billion, Facebook is going to have to do better than this for their advertisers.

All is not lost though because the advertising isn’t costing me anything. My next approach is to target ads quite a bit wider and throw massive campaigns in several different niches their way and keep the ones, if any, that are producing. I’ll report back in a week or so to let you know if the results are any better.

I’m curious to know if anyone has had success advertising on Facebook?