"Nanigans is seeing mobile app install ad campaigns with average CPCs ranging from $0.18 - $0.60. In some instances, Nanigans has seen CTRs on mobile app install ads that exceed 3%... For game apps, Nanigans is seeing mobile app install ads generate 20% higher CTRs and 22% higher CPCs than achieved with mobile Sponsored Stories.
"It is important to note that the ad unit is new, and early results are subject to change as the product matures."
That last note is significant since any new ad type tends to perform better, and at lower cost, in the weeks and months after it is introduced.
The expanded program puts Facebook into pitched competition with established mobile ad companies serving developers that are willing to pay for installs. That space includes companies like Apsalar, Flurry, TapJoy. A big challenge in that arena is guaranteeing post-install engagement, since the longer people own smartphones the more app fatigue they experience and the less they may be inclined to interact with apps they have. It will some time before Facebook proves itself in that regard.
This is Facebook's latest attempt to boost mobile revenue, a goal it's also pursuing through a mobile ad network experiment involving the placement of Facebook interest-targeted ads on mobile ad inventory sourced on exchanges (AdExchanger story).