Social media marketing firm Syncapse has released a new tool enabling brands to calculate their Facebook ad spend.

The 2013 Facebook Advertising Spend Calculator takes into account variables such as target market, market conditions and fan interests in recommending a campaign budget to maximise branding goals.

How does it work?

First, a brand needs to specify details about its target market such as the country, city, gender, age range and any relevant interests.

Next, brand managers need to input data on market conditions, such as the percentage of Facebook fans who are also customers.

Finally, variables can be set on campaigns, such as how long they will run for, the amount of campaigns running over a year and the expenditure during campaigns per 1000 consumers.

The results

Following this, the Facebook Advertising Spend Calculator will offer suggestions in allocating a suitable Facebook ad budget.

Social media marketing in the future

Michael Scissons, president and CEO of Syncapse, says that frequency-based social media marketing is more successful than traditional viral campaigns on Facebook, because the platform is better suited to CRM (Customer Relationship Management).

“There are a lot of agencies on the market that are trying to buy cheap fans. We are trying to educate the market that they should be thinking of reach and frequency,” Mr Scissons said.

The Facebook Advertising Spend Calculator is currently in beta and can be accessed via Syncape's website.

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