Social media platforms are no longer online places to ‘meet’ friends and family virtually. From Facebook to Instagram, they have now become the main marketing channels for marketers out there to promote their brand and engage more potential customers.
The reason why social media platforms are ideal marketing channels is that they’re accessible and affordable. Some businesses might rely on organic social media marketing strategies, where they can use all the free features for their campaign. But, others choose to spend some bucks in investing in more advanced marketing features, such as paid advertising.
Yes. Social media marketing isn’t entirely free. If you want to get more visible results in no time, you might want to consider using paid advertisements.
Now, the question is: how much does social media marketing cost?
Social media marketing expenses vary from platform to platform. It depends on the platform you choose and the features you use. Below we’ve listed some popular social media platforms with their top paid marketing features and the estimated cost.
When we talk about social media paid to advertise, we talk about Facebook. This platform remains one of the most popular social media platforms, with more than 2.8 billion active users worldwide.
Many marketers who use Facebook as their marketing channel invest in Facebook Ads. This advertising format is well-known for its targeting features. Whether you use explainer videos or photography images as the advertising content, Facebook Ads will help you create relevant ads and target the right audience at the right time in the right place.
Facebook Ads cost you about $0.25 for every 1,000 people you will reach. But, the cost might differ depending on your marketing objectives. For instance, if you want to drive more traffic, you need to pay per click, while if your aim is to collect more leads, you may pay for each form submission.
Instagram is a visual-first social media platform. That’s why it’s an ideal place for entertainment-based businesses. Instagram offers you different types of ad formats that some marketers find less intrusive than Facebook Ads.
One of the most popular ad formats you can invest in this platform is the CPM (Cost per 1,000 impressions), ranging between $2.50-3.50 for a better-performing campaign. Similar to Facebook, your campaign objectives can cause the advertising costs to be automatically higher or lower.
Also, you might need to pay more if you want to target more specific, targeted audiences. That being said, if you’ve targeted accurately, you can count on at least ten times more engagement than Facebook Ads at a similar cost.
YouTube is a home for most video marketers out there. With more than 2.3 billion monthly active users, this is a high-performing place where you can host your marketing videos and engage viewers effortlessly.
Joe Baker, Founder & CEO of Boots Empire says “Through YouTube Ads, you can expect to pay $0.10 to $0.30 per view or action, with an average $10 daily budget. It means that if a viewer clicks on your video advertisement and engages with it, you need to pay the cost”
You might find that the cost is quite expensive compared to standard Search Network campaigns through Google Ads. And the cost will vary depending upon the video quality, your target audience, and your campaign objectives.
The LinkedIn demographic is dominated by job seekers and marketing professionals. That is why this platform is a go-to place for many B2B marketers out there. To make sure that your B2B business uses the platform marketing campaigns to their fullest potential, you can use LinkedIn ads.
LinkedIn ads cost you around $5.26 per click (CPC), $6.59 per 1000 impressions (CPM), and $0.80 per send (CPS). Again, just like any other platform, the cost depends on several factors, including target audience, campaign objective, and bid.
Twitter is a perfect place if you want to build a more personal, casual connection with your target audience. This platform allows your brand to treat your target audience as real friends. That is the reason why many businesses invest in this platform for their campaigns.
For the paid advertising, the platform costs you around $0.50-$4 per engagement on promoted Tweets and promoted accounts. You might also want to consider using promoted trends for more brand awareness and visibility. And you can expect to pay about $200,000 per day.
Since it will feature your brand on the latest trends on the platform, the cost is high. But, it can be a great way of reaching out to the largest audiences and excellent for building a solid online presence in no time.
Pinterest is often overlooked by marketers out there, but this social media platform can be such a powerful marketing platform if you use mostly pictures or images as your marketing content. This platform is basically a search engine for pictures.
Users can spend hours and hours on the platform just to see beautiful decorations, aesthetic images, restaurant or office setup ideas. They can create boards on their profile so that they can pin and revisit content that interests them later.
If you want to invest in Pinterest paid to advertise, you need to pay about $0.10 for every click (CPC), $0.10 for every engagement (CPE), or $5.00 per thousand impressions (CPM).
All the social marketing expenses mentioned above are the typical rate that businesses experience when they invest in each platform’s advertisements. Since each platform provides you a bunch of advertising formats and marketing objectives, there is no fixed price when it comes to the cost.
That being said, before you start spending any bucks, make sure you have defined your strategies and chosen the right social media platform. Choosing the right platform will not only make it much easier for you to target the right audience but also help you to spend the marketing budget much more efficiently.
Andre Oentoro is the founder of Breadnbeyond, an award-winning explainer video company. He helps businesses increase conversion rates, close more sales, and get positive ROI from explainer videos (in that order).
Email: [email protected]
LinkedIn: Andre Oentoro