Question
I am about to launch into a new skincare label. I am a little wary about the best potential advertising platforms for this offer, as its a very competitive market. Adwords has been taken by most of the major brands and therefore the CPC would be extremely high in this market. After crunching some metrics, I would need to keep my CPC on Facebook or Adwords at $0.60 or lower to make a profit on the front-end, converting at 2%. Looking for an advice.
Answer
The answer here ultimately depends on what the product is - whether its something you need to generate awareness of or is something you can capture existing demand for...capturing existing demand works if your product is the solution for a problem.
If you need to generate awareness....then FB ads and Google Display Network are the way to go, more on display network here: http://www.thesearchengineshop.com/how-to-promote-your-business-using-google-display-network
If there's already active demand or your product is a problem/solution type of product Adwords can work well
