Facebook Advertising - Effective?

Thanks to Andrew from Niphal who posted these $250 worth free advertising coupons for Facebook on OzBargain, I went and got some free credits, spent 3 minutes in Gimp doing up a 110x80 logo, created a campaign on Facebook Ads Manager and sat back to see the flood of traffic coming in.

Actually the last one wasn't really true. I logged into Facebook Ads Manager this morning to check the stats, and this is what I saw:

Facebook ads statistics

My campaign is targeting all Australians, and I had my daily budget of merely $5 (which I have upgraded to $8 as it hits the budget every single day). Over the last 4 days it gave me an impressive number of impressions (more than 60,000+ per day!) but very very low click through rate (0.2%). The effective CPM at the end is very cheap at $0.10 so I guess it is still a good deal if you are just doing branding and don't really care whether people clicked or not.

I do plan to discontinue the campaign after my free credits have run out. I wonder how can Facebook make any money with such a low click through rate and all the freeloaders like me (hehe...)