Reaching 100,000 people on Facebook costs $500 to $3,000 depending on how targeted your audience is. Broad anywhere-in-the-US targeting costs around $500 to $1,000. Laser targeting like tech founders in major metros costs $2,000 to $3,000.

CPM (cost per thousand impressions) ranges from $5 to $30 nationally. Broad targeting with no filters hits CPM of $3 to $8 because supply is massive. Narrow targeting with specific interests and behaviors pushes CPM to $15 to $30 because fewer people match the criteria.

Industry matters greatly. E-commerce targeting averages $10-15 CPM. Finance targeting hits $25-35 CPM because of high competition. Your niche determines the floor. Geographic targeting also matters: rural areas cost $3-6 CPM while major metros cost $12-20 CPM.

Conversion quality is inversely related to cheap reach. Pay $500 reaching 100k random people and you might convert 10. Pay $2,000 reaching 100k qualified people and you might convert 500. The second option costs more to reach but converts 50x better. Always optimize for conversion value, not reach volume.