Friday, 1 November 2019

Average Advertising Costs to Know Before You Start Marketing Your Business

average advertising costs

Average Advertising Costs to Know Before You Start Marketing Your Business
Whether you are working on a bootstrap budget or have a little money to spare, it’s good to know the average advertising costs before you start marketing your business online. Below, we’ve put together a quick guide to all the costs that you’ll need to consider when developing your online ad strategy.

Average Advertising Costs: Advertising with Google Ads

Google Ads

Google Ads Pricing Model

average advertising costs

display ads

  • CPC Pricing – If you choose this option, you will only pay when a user clicks on your ad. This pricing option is ideal for ad campaigns that aim to drive website traffic.
  • CPM Pricing – CPM, or cost-per-thousand impressions, is a pricing option that requires you to pay for ad views based on one thousand views. This can be ideal for brand awareness ad campaigns.
  • CPA Pricing – Cost-per-acquisition pricing requires you to pay when your ad leads to a conversion. If your ultimate goal is to drive sales, then this may be the best option for you.

Average Advertising Costs: How Much Do Facebook Ads Cost?

Facebook ad types

Facebook Ad Pricing Model

facebook ad manager

Average Advertising Costs for Facebook Ads

Most recently, the average cost per click for a Facebook ad is $1.72. The average CPM, or cost per 1,000 impressions, is $7.19.
And today, Facebook allows you to advertise either on: 
  • Facebook
  • Instagram
  • Messenger
  • Audience Network
For the most part, Facebook CPCs are rather low across industries. Even the most expensive industries like finance and insurance, customer services, and home improvement still have relatively low average advertising costs. (CPCs are $3.77, $3.08, and $2.93, respectively.) 

Average Advertising Costs: How Much Do Instagram Ads Cost?

average advertising costs

Instagram Ads Pricing Model

Your CPC is then set based on who wins the auction. The ad that creates the most value for users wins the auction, getting the minimum CPC. Value is measured based on:
  • The advertiser’s bid
  • How likely users are to take the action the ad is optimized for
  • The ad quality and relevance of the ad content
advertising on Instagram

Average Advertising Costs for Instagram

Just a little while ago, the average advertising costs for Instagram were well below those of Facebook ads. In fact, CPM for Instagram ads used to be about half the price of CPM for Facebook ads. When Instagram first allowed advertisers to launch ad campaigns on the social media platform, the average CPM was between $5 and $6.50.instagram engagement

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