Facebook has dozens of bidding objectives and one of them is called Brand Awareness. The purpose of this strategy is to show off ads to as many people as possible so they’ll remember your brand in the future, or future advertisements.

This type of strategy is generally a pay per view model, not pay per click. Views normally cost between $.01 - $.04 per view and can be a great way to introduce your product, message or brand to potential customers, test what ads perform best, and gather huge quantities of data quickly.

Brand awareness ads are best for companies who:

Want to expand their business, especially in a new region.
Want to a/b test target audiences or messaging
Have a full funnel sales cycle