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I think with any PPC campaign a lot depends on your target audience, quality of your copy etc etc.
However, when I was organising a Smiths Disco I thought FB ads would be the perfect way to advertise - I could set it to only show up to people who "like" the band and live in my city - sounded good.
But I spent about £50 (~US$70) and got ZERO attendees from it.
That said, I found out about a music festival via FB adds and bought 2 tickets @ £90 each - so it CAN work, but it's very hit and miss.
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