The beauty of Facebook ads is that you can fine-tune your demographics to more than just a city, which is what you’d want to do for a specialty bakery. You can select a defined geographic region within the city, a 10-15 mile radius usually is a good target area for a small outlet like a specialty bakery. Facebook’s zip code targeting is excellent for this step. Then, you want to select your demographic. For a cupcake bakery, I’d pick women aged 16-65. 16-year old can drive and up to 65 is a good age range for potential Facebook users interested in a specialty bakery. If you offer a coupon, you can easily track how the ad converts to actual sales.
Note, for market research, you can run the same ad, same demographics, and target men but use a different coupon code. For a cupcake bakery, you’ll likely see a far larger response targeting women. You can also target different coupon ads to different age groups to track the response per age group.
So, for cost, a targeted 4-7 day campaign like this could cost as little as $20 per day, or over $200 per day. You can set your budget on Facebook. Once you set your demographics, Facebook will show you the potential ad delivery and estimated costs.
That’s how you approach Facebook advertising to get the most return on your money.
I hope this helps, good luck with your project.
PS! I’d add Instagram advertising to your project’s advertising plan, it’s the right platform for your demographic, too. Plus, if you have schools within your 10-15 mile radius, add school colors specials to your product promos – those drive sales, especially among the high school student & teacher crowds.