Has anyone tried PPC marketing on Facebook?

I just noticed GoDaddy has a $50 promo code and was thinking of giving it a shot.
I’m just curious though if basic text ads can be tied to keyword content, how FB compares in price to say Adwords, and if you can target your ads to a specific demographic group (e.g. women 30-40 years of age)? Also, how well does the traffic convert?
Thanks for your feedback.

See original post by Ryder