In the virtual world, marketing has changed drastically. On top of seeing ads out on bus stops or billboards, we also see ads daily as we scroll through our phones. While this may seem annoying from time to time, social media ads can be one of the most effective strategies for growing your business.
However, social media ads do take some money to get started. You will want to include these ads in your marketing budget. Depending on where you decide to run ads, the prices and details will vary.
Facebook and Instagram
Let’s talk about one of the largest social media advertising platforms. Facebook is a great way to get your business in front of new customers in local and outside audiences. On Instagram, ad placement is available in feeds and the shopping tab.
Cost depends on what you want to publish and when but both platforms are the same price.
A reasonable budget for social media ads is around $200 to $1,500 per month, depending on your business’s size, goals, and current advertising strategy. This total will distribute as $5 a day for clicks, likes, and views and $40 a day for conversions. Cost can accumulate quickly, but ads like these help people see your brand, visit your website, and create a traffic flow for your business.
Though it seems like just a video streaming website, YouTube can be so much more for businesses. There are multiple ways to get your business out there with YouTube. You can even pay for your video ads to be played before other videos. However, we will focus on standard sidebar ads’ pay-per-click and monthly expenses.
Each month, the estimated cost for YouTube ads ranges from $200 to $2,500. Like other platforms, this depends on your business and goals, but there is a minimum of $10 a day.
Twitter has over 2 million users, a much smaller base than Facebook. Some businesses see this as a benefit because they focus on the users and get more views for their ads.
There is no minimum price per month for Twitter ads, but your budget should be around $200 to $1,500, depending on your goals. Since it is technically a smaller user base, you may want to put more funds into Twitter and see how well they do.
It is a game of trial and error with all of these options. Depending on your industry, some platforms may be more beneficial than others. It takes time to figure out the perfect ad balance, but a monthly ad budget will help.