Do you want to give your business the best social media advertising campaign?
A well-made social media marketing campaign costs money. As such, include a social media advertising cost in your budget. It’s worth your time because over 72% of American adults have some form of social media profile.
A decent advertising package shouldn’t always cost a lot. Paying too low or using free advertising offers can do nothing to boost your business. Keep reading to learn the best spending for social media advertising.
1. Factors That Affect Your Social Media Advertising Cost
The cost of an advertising campaign now isn’t the same as two years ago. All social media advertising is unique.
The following are the factors that impact social media advertising cost:
- Strategy
- Target audience
- Time of year
- Quality of posting and relevance
- Frequency of posting or engagement
- Type of creative services
A single change causes big shifts in the total cost. For example, your strategy needs a different demographic. Expect to pay differently when shifting from a middle-aged audience to teens.
2. Advertising Costs on the Top Social Media Platforms
We’ll focus on the top social media platforms of all time. Considering its 2.7 billion monthly active users, Facebook is the first in line. It also includes Instagram, Twitter, and LinkedIn.
Facebook has one of the most flexible rates since the cost of Facebook ads depends on the bidding model. On average, CPC costs $0.97, while CPM is $7.19. Boosting posts on Facebook has an average of $6.35 per 1,000 views.
Social media services on Instagram have a wide range of prices as well. Professional Instagram ad campaign management costs $450 to $850 per month. The average cost is $6.7 for every 1000 photo ad views and $3 for every 1000 video views.
Paid social media advertising on Twitter is also better than its free counterpart. A promoted tweet costs around $1.35 while a promoted account uses $2.50 to $4 per follower. You can also get an agency to manage your Twitter advertising, costing about $450 to $850 per month.
LinkedIn has CPC and CPM advertising features. The lowest bid for CPC is $2, but it’s better to bid $5.55 and over. If you want to use CPM, consider bidding at least $2.85 to $4.64.
3. Smart Ways to Spend Your Advertising Budget
Don’t waste your advertising budget on unnecessary expenses. Find your target audience and the platforms they frequent. Next, create a social media marketing plan and backup plans.
It’s wise to outsource your social media plans to professional marketing companies. They have more experience, knowledge, and the necessary tools for smart marketing. They can even help find the right avenues and methods for your needs.
If you want to do social media advertising alone, never feel bad about mistakes. However, don’t be careless with your budget. Experiment with varying parameters to know your best marketing plans.
Spend the Right Amount for Your Business Social Media Advertising
We hope you enjoyed learning about social media marketing. Your social media advertising cost involves more than your budget. It takes time, effort, and dedication.
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