Paid advertising expense is always a big question for marketers. Everyone wants to be ready for investments, which is why it is important to know how to make the calculations. The total cost depends on various criteria. In the article, we are going to observe the prices of social media adverts and help you build a budget.
Advertising costs vary a lot depending on the type of ads, definite social network, size of your business, the experience of an agent you work with, and other factors. Thus, the monthly cost of advertising might be from $1,000 to $20,000 or even more.
Let’s observe the most popular social networks and details connected with pricing:
Speaking about a complete range of pricing, marketing with this network might take from $1,000 to $7,000. The services usually include:
- account launch
- outsourcing content
- interaction with consumers.
The cost will be always less if you need just partial coaching. For instance, if you already have an account. In this case, you may need a restructure, which will demand about $2,000. It is advisable to use such a network only if you have a large and well-developed business. For a small business, it is not reasonable to spend such a great sum of money only for advertising on Twitter.
This network may require more investments. For full support including the creation of an account, you will have to pay $2,000-$5,000. If you are an owner of a small business, it is advisable to use both Facebook and Twitter because they can greatly increase your audience. FB is mostly CPM and CPC network. The model depends on the objectives of the marketer. For instance, if you need to attract more traffic, CPC is just what you need. On the other hand, if your aim is to build brand awareness, it is better to use CPM.
This popular network opens more opportunities for reaching the audience with pictures, videos, text content, and other materials. Thus, it is a visual platform, which is advisable to use for fashion brands, cars retailers, etc. Advertising is fulfilled by means of Facebook Business Manager. Thus, the total costs are calculated almost the same way as on FB. Here there are CPC and CPM models.
It is used by millions of users, brands, and businesses. It is recommended for advanced marketers because this network is very specific. Here you can add images and 15-second videos, which will disappear after 24 hours. Besides, there is no traditional system of hashtags, sharing, etc. The prices greatly depend on the type of ads. For instance, you will require a monthly budget of about $3,000 for mobile video advertising, while the discover adverts will take over $50,000 daily.
This is more a business-to-business platform. CPC and CPM models used are a bit different compared to other networks. Thus, you should pay only if the content is viewed for at least 300 milliseconds. A minimal daily budget required for LinkedIn promotion totals $10.
General issues of budgeting
If you need a more specific answer to the question, how much my paying ads on Facebook will take, it is vital to understand the general principles of calculation. For the management of your social media campaigns, the agencies will require 10-20% of the total advert buy. Marketers with a larger budget can always negotiate and ask for lower prices. Every agency also has a minimal monthly fee for their services (an average fee is $200). That’s why it is important to make certain you are ready to pay. You can save your money and try to promote with social networks on your own. However, it is a very complicated task. It is necessary to know and understand:
- FB pixel
- targeting tools
- image dimensions
- image-to-text ratio, and many other things.
If you are not experienced in this field, it is recommended to hire professionals to make your advertising campaigns effective and profitable.