This is a very first and the most common question that arises in one’s mind when discussing about advertising over social media vehicles. While the cost depends on your requirements and objective. However, at the same time there are many entrepreneurs as well as businesses in India are uncertain about advertising on the social networking since they do not have a grip on how much it might cost. Companies use different types of approaches to plan their budget for advertising, but ultimately their businesses are mostly controlled by campaign managers or digital marketers. Small and medium sized enterprises usually spend 2 to 10 percent of their annual sales on marketing their products and services.
When you start advertising on social channels, you’ll have the option to choose either a daily or a lifetime budget, along with the total amount you want to spend. For most ads, the minimum amount you can spend per day ranges from $1 to $5, though you may need to spend more based on what you optimize for.
Your budget, the type of bidding you choose (CPC or CPI), the audiences you target (a broad audience vs. an audience with very specific interests, behaviors and demographics) and many other factors will determine how many people see or click on your ad within your budget. The media you choose for advertising also plays a crucial role. Now lets see how much does it costs to advertise on different social media sites:
Facebook — These days Facebook has now become a most preferred destination for advertisers to promote their brands across social especially for e-commerce and retail. When you create an ad, you get an option to enter the amount you want to spend or the amount you are willing to pay based on what you want Cost-per-Impressions (CPC) or Click Through Rate (CTR). To find out how your budget, targeting, bid and more may affect the number of people you’re able to reach, try Boost Post. Choose your targeting preferences, pick a budget and look at Est. People Reached to see how many people your ad could potentially reach within the budget and targeting preferences you’ve set. Click Cancel if you don’t want to move forward with the boost.
Twitter — Your bid and budget come into play when controlling the spend in your campaign. Twitter Ads is an auction based system, so your budget and bid determine the price of your campaign. Well Twitter offers three types of advertising options — promoted tweets, promoted accounts and promoted trends. The first two cost between $.50 — $4.00 per engagement, and promoted trends will cost you $200,000 per day.
LinkedIn — LinkedIn advertising is more for professional B2B. Most businesses understand that LinkedIn is a great resource for hiring and finding work. It is the world’s largest business networking website and one of the best ways to reach over 150 million engaged professionals. LinkedIn allows you to choose your audience based on industry, seniority, job function, company size, geography, number of connections, gender or LinkedIn groups. You can use LinkedIn ads for as little as $50.
YouTube — You don’t make money based on the amount of views you have. You make money based on people’s engagement with the ad. Engagement here means clicking or watching an ad for more than 30 seconds. YouTube Advertising is managed in the Ad-words platform. Advertisers choose ads on a Cost Per Click (CPC), it will charge for $3, or Cost Per View (CPV) model, when an advertiser pays money based on views.
Now the question arises in our mind: ” How to get more likes on our post on Facebook or more views on our video on YouTube? ” I think to earn lots of money from your video, by paying some amount of money to buy views is not a bad idea. Check it out and try it!
HOPE THIS HELPS!
Looking to advertise on social media? Or need more info on advertising on social media? Feel free to contact. Get in touch now!