Monaco, London and Paris may be the most costly European capitals to buy property, but Norwegian city Oslo is the most expensive place to buy Facebook advertising, followed by the Vatican City, Helsinki and Berlin.
Monaco, London and Paris may be the most costly European capitals to buy property, but Norwegian city Oslo is the most expensive place to buy Facebook advertising, followed by the Vatican City, Helsinki and Berlin.
London is only 9th in an analysis carried out by Kenshoo, while Paris is 11th and Monaco is 15th.
The cheapest capitals are Skopje in the Republic of Macedonia and Sarajevo in Bosnia & Herzegovina – which are 24 times cheaper than Oslo when it comes to Facebook advertising.
Facebook uses an auction system where advertisers “bid” on how much they are willing to pay for a user to click on their ad.
Facebook provides a “suggested bid” based on the competitive landscape of the city chosen, and these figures were used to compile the rankings. Oslo’s suggested bid is $0.73 per user click, compared to $0.03 for Skopje and Sarajevo.
The analysis shows that Europe is substantially cheaper than the United States of America for local Facebook advertising. Similar research in the US found that the suggested bid for top US city San Francisco is $1.02, ahead of Washington DC at $1.01 per click.
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I wonder if this numbers are the result of auctions similar to those of Adwords, that is ‘people watching something vs people offering something’