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Advertisement for Facebook is a great idea which can help you achieve lot of publicity in a short time span and for a reasonable cost.

Facebook advertising will sound very reasonable when compared to any other advertising options such as the news print, magazines, banners or of course the television(the most expensive one undoubtedly)
With the rise of social networking sites, Facebook is the most popular one today. There is a large target crowd you can find through Facebook. Facebook comprises of most of our time spent online when trying to socialize. Teens, youngsters, adults, parents, professionals, businessmen, everyone can be found to be actively using Facebook on a regular basis.
One of the effective ways of marketing and advertising is by creating a custom fan page. Having a fan page keeps users informed and notified of your products, sites, any new services. It helps them to have polls, opinions, feedback, surveys to know and analyse their reputation and feedback.
E.g. you may have fan pages for many products such as Cadbury, Lakme, Ponds etc. Many of these brands also have regular contests to attract more people to their pages.
The like being the Golden button, once pressed by any user does the trick for you, gluing him to your page and any updates by you on your page will straight go to every user that has like your page.
To build a new page on Facebook is very easy. You can then have people to like it, create custom games, contests and, of course, post new happenings. Don't worry if you have a third-party custom website outside Facebook too. Does it seem Confusing? You just have to place a Facebook Like button onto your page and that is it; it will do the trick for you.
Also, there are other options to advertise such as placing small ads or banners but they can cost you, but nevertheless be effective.
You can select from a wide range of cost options.
The C. P. C. and C. P. M. plans are amazing. These are Cost per click or a Cost per thousand adverts or fixing your advertisement expenditure limits.
It generally does not cost much. There are various customized options you get to choose while advertising as per the demographics of the people you want to target.
You can fix your Daily advertising budget and accordingly choose a plan. You can schedule your advertisements. You can also specify the timing as to when you want to start your ad campaign and when you want to end it.
So, all I can say is to experiment, explore, customize, and review the post advert reports that Facebook offers to modify your strategy.
You should keep some things in mind. Use the paid option only after analysing requirements.
Have fan pages to regularly keep users updated and also informing them about your products, and taking feed - backs from them. Place a Facebook Like option somewhere on your page. Have regular contests and keep users actively participating and engrossed. Also having customized pages to cater to different target audience is a good idea. You can have pages in languages other than English.
So, go ahead explore, customize, analyse, reach out and advertise. God Bless you!