Yes, Facebook paid advertising works, and it can be cheaper than Google, it's definitely effective, and less competitive right now. I use it to generate leads and get more bathroom quotes booked in.
Like any form of marketing... you need to have a good follow-up/sales system in place after you get the leads (phone numbers), you need to make sure you're following up with calls, texts, and emails to get that quote booked in.
This is a screenshot of an advertising campaign I used on social media, the goal of the advert is to get potential customers to click on it so they can get a bathroom quote.
I'll explain the math in this picture.
$8.40 (£6) is the average cost of a new contact/lead who clicked the advert
Out of all the people that click the advert to claim a quotation... after being put through the qualification process, about 40/50% give me their details (Such as phone number/location).
So it's $16-$20 (£13-£18) is the per lead who gives you a phone number to arrange a quote...
The close rate from quotes given to jobs started is 1 in 3...
So for every 3 quotes, he gets one successful job
That means with this method, one job cost him between $48-$60 (£40-£50)