All electric heaters are virtually 100% efficient at converting electric to thermal (heat) power...no electric heater consumes oxygen and as there is no combustion, there are no combustion byproducts...a 1500 watt electric heater (meaning it uses 1500 watts of electric power) in an hour produces about 5120 BTU's..."low cost" electric heaters usually means they have a low power setting which reduces the hourly cost of operation but also the heat output. A fan does move the warm air around the room more so if you sit across the room you might be warmer as a result...or warm more quickly...Ditto for infrared heaters as well.
In cooling, that is, air conditioning, there are differences in efficiencies of conversion quoted as EER or SEER ratings.