"Cost per Like" often crops up in conversations about Facebook advertising, though it isn't a term officially sanctioned by Facebook. So what exactly does it mean?
Cost per Like refers to the cost of acquiring a new fan for a Facebook page, either through paid advertisements or, less directly, through earned media efforts.
There are three ways to "buy" Likes on Facebook. One is through "cost per thousand impressions" (CPM). Advertisers bid to target a group of desired users, and pay every time their ad is seen by a thousand of those users. A second option is "cost per click" (CPC) campaigns, wherein advertisers pay every time their ad for their Facebook Page is clicked on. Neither of these options guarantees these users will become fans, however, it simply guarantees that they'll either 1) be exposed to an ad for a Page or 2) see a Page. Read more...More about Facebook, Advertising, Marketing, Facebook Marketing, and Syncapse