In this digital era, social media advertising has become an indispensable tool for businesses aiming to connect with their target audience and achieve marketing goals. Various social media platforms offer a wide array of advertising options, each catering to different objectives and audiences. In this article, we will explore the different advertising options available on some of the major social media platforms and delve into the cost aspects of each.
Facebook, with its massive user base, offers comprehensive advertising options to help brands reach their target audience at different stages of the buyer’s journey. These options include:
Awareness:
- Brand awareness
- Reach
Consideration:
- Traffic
- Engagement
- App installs
- Video views
- Lead generation
- Messages
Conversions:
- Conversions
- Sales
- Store traffic
Facebook allows you to target users based on various criteria, such as age, location, interests, and more. You can also create custom and lookalike audiences. The available ad formats on Facebook include:
- Video ads (up to 240 minutes)
- Photo ads
- Engagement posts
- Page likes
- Collection ads
- Carousel ads (up to 10 images or videos)
- Slideshow ads
- Instant Experience ads
- Lead generation ads
- Offers
- Event responses
The cost of Facebook ads can vary depending on the industry and competition. The average cost per click (CPC) in 2018 was $0.94.
Owned by Facebook, Instagram offers similar ad options through Facebook Ad Manager. You can target users based on demographics, interests, and behavior. The ad types available on Instagram include:
Awareness:
- Reach
- Frequency
- Brand awareness
- Local awareness
Consideration:
- Website clicks
- Video views
- Reach
- Frequency
Conversion:
- Website conversions
- Dynamic ads
- Mobile app installs
- Mobile app engagement
Instagram provides the following ad formats:
- Stories ads
- Photo ads
- Video ads (up to 60 seconds)
- Carousel ads
- Collection ads
The cost of Instagram ads, according to a 2017 study, saw an average CPC of $0.94 across different industries, with variations throughout the year.
Youtube
YouTube is one of the largest video-sharing platforms, and it offers several advertising options to reach your target audience. Here are some of the advertising formats on YouTube:
- TrueView In-Stream Ads: These are skippable video ads that appear before or during other YouTube videos. Viewers can skip the ad after five seconds, and you are only charged if they watch at least 30 seconds or until the end of the ad, or if they engage with the ad (click on a call-to-action).
- TrueView Discovery Ads: These ads appear on the YouTube search results page or as related videos on the YouTube watch page. They typically feature a thumbnail image from your video and a headline, and you only pay when someone clicks to watch your video.
- Bumper Ads: These are short, non-skippable video ads of up to six seconds that play before the viewer’s chosen video. They are designed for quick and memorable messaging.
- Non-skippable In-Stream Ads: These are short video ads that viewers cannot skip. They can appear before, during, or after other videos and are typically 15 seconds long.
- Overlay Ads: These are semi-transparent display ads that appear on the lower 20% of the video player. They can be either text or image ads and are clickable.
- Display Ads: These ads appear to the right of the feature video and above the video suggestions list. They are only visible on desktop computers.
- Sponsored Cards: These are display ads that appear within relevant videos on YouTube. They can show content that may be useful to viewers, such as products featured in the video.
YouTube Advertising Costs:
The cost of advertising on YouTube can vary widely based on factors such as your targeting options, industry, and the competition for ad placements. Here are a few things to consider:
- Cost-Per-View (CPV): With TrueView ads, you are typically charged based on the number of views your video receives. The average CPV can range from $0.10 to $0.30, but it can be higher or lower depending on the factors mentioned earlier.
- Bidding Strategy: You can set your own daily budget and bids for your ads. The bidding strategy you choose will affect your costs. For example, you can choose to maximize your views or set a target cost-per-view.
- Ad Quality and Relevance: High-quality, engaging ads that are relevant to your target audience may perform better and cost less.
- Ad Duration: Longer ads may cost more since you’ll pay for a view if a viewer watches 30 seconds or until the end of your ad.
- Competition: The level of competition for ad placements in your target audience can impact costs. Competitive industries may have higher CPV.
LinkedIn, a platform focused on professionals, offers unique advertising opportunities:
- Sponsored ads that appear in the news feed
- InMail for premium users to send individual emails
- Sponsored InMail, combining email marketing with precise targeting
The average CPC for LinkedIn’s sponsored ads is around $2-$5, with the cost per send for Sponsored InMail ranging from $0.75-$0.80.
Tiktok
TikTok has emerged as an effective advertising platform, particularly for brands looking to reach a younger demographic. Advertising on TikTok includes several methods to connect with the audience effectively.
TikTok Advertising Methods:
- In-Feed Ads: These are video ads that appear seamlessly in a user’s TikTok feed. Users encounter these ads while scrolling through their video feed.
- Branded Hashtag Challenge: Brands can create a unique hashtag and challenge users to participate in entertaining activities or challenges. This encourages user-generated content and interaction.
- Branded Effects: Brands can develop special effects that users can add to their videos, showcasing creativity and engagement.
- TopView: TopView ads appear at the top of the TikTok app’s home page, providing maximum visibility to users when they open the app.
- TikTok Ads Display Network: Brands can extend their reach by joining TikTok’s ad network and displaying ads on various applications and websites.
TikTok Advertising Costs:
TikTok advertising costs are subject to various factors. Here are key considerations:
- Cost Per Click (CPC): TikTok commonly employs a cost-per-click (CPC) model. Average CPC can vary based on your industry, target audience, and competition.
- Ad Format: The type of ad you choose impacts your costs. For example, In-Feed ads may have a different cost structure compared to TopView ads.
- Target Audience: The size of your target audience and competition within your niche can influence your advertising costs.
- Ad Duration and Frequency: The length of your ad and how often it is displayed can impact your expenses.
- Creativity and Content Quality: The quality of your content and its ability to engage users can affect ad performance and costs.
- Seasonality and Trends: Advertising costs may fluctuate during specific seasons or in response to trends.
