Social media marketing is an excellent way to advertise your company, product, or page, but the specifics may be unknown to you. Depending on the platform you choose to use, you could be paying a little or a lot. Here is a general price range for how much it costs to advertise on Twitter, Facebook, Pinterest, and Instagram.
Twitter offers three advertising options depending on your budget. Those options are promoted tweets, promoted accounts, and promoted trends. Promoted tweets and accounts can cost anywhere from 50 cents to $4 per engagement whereas promoted trends can cost around $200,000 per day.
The difference between the three is that a promoted tweet is a single tweet that you want to appear in timelines and search results. A promoted account helps achieve more followers in a short amount of time and targets users based on interest, geography, and gender. Finally, a promoted trend puts your tag in the trends menu for one day.
Facebook also offers different pay to promote options based on how much you wish to pay per day. The basic choices are $5, $10, $20, $25, or $30 per day. Each of these amounts yields you a different estimated like number anywhere from 4 to 91 likes per day. There is also the option to pay a custom amount, as well.
A second option Facebook offers is a “boosted post.” This is when your post will show up for specific people that you choose based on someone's interests or geography. The price for boosted posts ranges between $20-$1,000 per day. These posts will appear higher in the newsfeed for the audiences you wish to reach.
Finally, you can choose to advertise on Facebook based on cost-per-click (CPC). This method works by charging you, the advertiser, every time someone clicks your ad. A “click” for Facebook counts as a like, comment, share, and anywhere else within the advertisement space.
Pinterest refers to advertisements as “promoted pins” and the company also participates in the cost-per-click method. Using CPC, you can reach certain locations, demographics, and devices who show an interest in your offer. When you want to promote a pin, you’ll be asked to choose an audience and define a price for the maximum CPC bid. This is the amount that you’re willing to pay per click, so you’ll never have to pay more than that.
Instagram handles advertising differently. Instead of CPC, it uses a cost per 1,000 impressions or views. The price for this ranges based on how many people see your advertisement. However, if you’re looking for a solid price range, Digiday reported that CPMs are averaging around $3. Instagram also released saying that they charge two cents per view. For a video to be considered “viewed,” a person would have had to watch it for at least three seconds.
