So, you're probably wondering what the cost of social media advertising is, right?
Well, you have come to the right place because we are about to answer all of your questions.
This post, brought to you by Stiddle, will provide you a breakdown of tips for your advertising needs depending on which social media platform(s) you utilize.
Before we jump into the average social media ad pricing, we will first define some terminology that will better help you understand how the ad process works:
The CPL is a metric used to quantify the relationship between advertising dollars spent and the amount of likes one receives from consumers.
Each time a viewer clicks on your ad, the CPC is used where you get charged for each click.
Cost-per-thousand impressions (CPM):
The CPM is the amount advertisers pay after they receive 1,000 impressions on their ad.
Cost per action (CPA):
The CPA is used when a consumer completes an action that you intended for them. For example, if your goal was to have one sign up for your email list and they completed that action, then you would be charged.
The CPV refers to the cost you are charged for every time someone views your ad this metric is commonly used for video advertisements.
Depending on the type of social media advertising you are looking for, the cost will slightly differentiate.
If you choose to take your advertising into your own hands, then the typical range of prices will be between $200-$350 per day.
Your other option is to utilize professional social media advertising services, such as the ones we provide at Stiddle. Once you sign up, we do all your advertising work for you. Stiddle runs pre-targeted ads to find your intended audience using AI, meaning Stiddle automatically generates high performing campaigns and sales funnels for all businesses (e-commerce, info-product, local business, etc.)
Depending on the professional service you choose, pricing is different; however, at Stiddle we provide multiple options ranging from $57-$137 per month depending on what your business's advertising goals are.
It is also imperative to understand the difference between a budget and a bid in social media advertising.
An ad budget is a determination of how much you are willing to spend on your business campaign. While an advertising bid is a specific amount you're prepared to spend on a user for them to perform an action on your ad.
It is critical to be aware of both your business's budget and bid to formulate your social media campaign strategies around them.
Depending on the cost metric your business decides to use, and the social media platforms you choose to advertise on, the average pricing differs. Below we will break down the top social media platforms used for advertising and their typical cost.
Instagram offers businesses numerous ways of advertising, such as:
As a whole, the typical amount of advertisers spend on Instagram a month is between $450-$850+.
Facebook is another popular social media channel that offers numerous options for one's advertising needs. Facebook has similar advertising methods to Instagram available to users with the only real difference being the target demographic.
If you are looking for an older aged demographic, Facebook ads will likely provide you better results.
As a whole, Facebook ads have an average range of $400-$1600 spent by businesses per month.
Twitter splits its business advertising into three categories:
Taking all advertising factors into account for Twitter, the general cost is $450-$850+ per month.
You made it! Now that you have an understanding of the terminology needed for social media advertising and the estimates of how much it will cost to advertise on the top social platforms, you're now ready to start planning your own campaigns!
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