You might be wondering how much ads would cost per click or impression today. The answer would vary depending on the type of ad and the platform used.
If you’re dealing with social media or digital marketing, you’ve most likely asked the same question, specifically regarding the correct amount for each click or impression. You’re not alone. I’ve been searching for answers, too. Thus, I’ve gathered information from 15 various sources to learn about the typical cost of ads on Facebook, Instagram, Twitter, and LinkedIn.
I’ll lay down the criteria for what a usual marketer should anticipate regarding the cost per click and per thousand impressions on each of the major social media networks this year. Since advertisement sales on each of these social media platforms are based on auctions and targeting choices, there are a ton of factors that would precisely determine how much an advertisement will cost you.
To give you an idea, take note of the following factors that could increase or decrease the cost of ads on the said platforms:
- Day of the week
- Time of the week
- Number of targeted users
- Targeted places
- Targeted demographics
- Relevance of the ad to the target audience
- Quality of the advertisement
- The kind of market
Your cost per click in social media marketing depends on several elements, including what industry you reside in. What matters is the favorable ROI from your ad campaigns. But, it never hurts to get an idea of what other online marketers are paying.
Before diving into my handy charts, I want to clarify how these platforms specify their ad expenses.
The CPC and CPM on Facebook, Instagram, Twitter, and LinkedIn
Facebook CPC and CPM
Facebook determines the majority of advertisement costs in cost per click (CPC) or cost per thousand impressions (CPM). With ad campaign objectives like Website Traffic, you would usually pay the cost per click, while for goals like Brand Awareness, you would pay per thousand impressions.
Instagram CPC and CPM
Because Instagram advertises through Facebook Business Manager, Instagram computes advertisement expenses similarly. Whether you have to pay for a CPC or a CPM would depend on your objective.
LinkedIn CPC and CPM
LinkedIn calculates CPC and CPM on its method. LinkedIn counts the impressions when an advertisement is “visible for at least 300 milliseconds on a member’s browser window or device screen.”
Meanwhile, if you’re paying for LinkedIn CPC, the platform will charge for clicks on your ad material, business name, or business logo.
Twitter CPC and CPM
Twitter isn’t open to its method of calculating impressions for CPM bids. However, Twitter Business released a statement saying that an impression is any time your advertisement is shown to users. Unfortunately, what they said is relatively broad.
Twitter cost per click refers specifically to website clicks, so you know that each click you’re spending took a user to your preferred URL. Each social media counts clicks and impressions differently, which can affect how CPC and CPM are determined. Their differences show how distinctive the platforms CPC and CPM could be.
For instance, if Twitter counts any part of your advertisement being on screen as an impression, and LinkedIn needs a minimum of 50% of it to be visible, it would make sense for LinkedIn to charge a bit more per thousand impressions. The platform offers strictly-defined impressions alongside a higher value for brand awareness on average.
The Average CPC on LinkedIn, Instagram, Twitter, and Facebook
Facebook has the most affordable average cost per click of all four social platforms at $0.51, and next is Twitter at $0.53.
Meanwhile, each click on Instagram is more than double the price of Facebook or Twitter clicks at $1.28. This fact likely reflects the high worth of and significant competition for clicks on Instagram.
At $5.61, LinkedIn has a much higher CPC than any of the other three networks. However, this level doesn’t mean that its ads are overpriced. It only shows how highly clicks are valued on such a B2B-friendly platform with an extremely educated, professional user base.
The Average CPM on LinkedIn, Instagram, Twitter, and Facebook
Remarkably, the average cost per thousand impressions on each social network has little relation to its own cost per click average.
Impressions on Twitter are less expensive than the other three platforms at $5.76 — though it might be because of their less limiting definition of an impression. Additionally, LinkedIn and Instagram are nearer to Twitter’s typical CPM, at $6.05 and $6.70, respectively.
Facebook has the highest CPM among the four significant social media platforms in 2019, but it wasn’t always this way. Facebook’s ad costs have been increasing substantially even though their advertisement area decreased in 2018. That’s why Facebook is concentrating on monetizing Instagram and Facebook Messenger to expand its network of prospective advertisement positionings and raise profits.
How to Lower Ad Expenses on Facebook, Instagram, Twitter, and LinkedIn
Now that you have a sense of how much a usual advertiser with a broad audience spends for clicks and impressions on each social media platform, you’re probably wondering about something else: how could one get away without spending too much?
Cap your bids. Facebook is clueless of what a click or an impression means to your brand — that evaluation depends on you, so don’t bid so high to the point of getting a negative ROI. Drop your maximum CPC or CPM bid. With that, Facebook will try to find a more reasonable cost per click and impressions for you so it can keep delivering your advertisement.
Set a lifetime budget for your ad campaign instead of a daily budget. This strategy will let Instagram’s ad engine discover the most affordable times and days to reveal your ads, reducing your CPC or CPM.
Set a manual bid. If you choose automatic bidding, Twitter will help you win advertisement auctions. Although, potentially at a higher price than you’d like to pay. Try starting with a low optimum bid like $0.50 cost per click, then raise it gradually if your ads are not delivered. Remember that this figure will differ depending on who you are and what you’re advertising.
Utilize Matched Audiences. This function lets you target users who remain in your contact lists, have visited your site, or work for a specific company. The Matched Audiences tool can raise CTR 30 to 40 percent compared to standard targeting (and therefore makes your ads more affordable).
Once again, the average ad cost on social media platforms depends mainly on your business or ad campaign’s specifics, so don’t quit on your advertising campaign if you have a higher CPM or CPC than what I’ve noted here. After all, you may be getting more worth from a click or an impression than other advertisers, validating a higher ad investment.
On another note, if you’re paying a lesser cost per click or thousand impressions, don’t let it get to your head. There are plenty of reasons why such a scenario is happening. For one, it could mean that you’re targeting a basic audience, and the clicks you’re getting aren’t likely to convert into paying customers.
Above all, what this information should do is give you a practical reference point. Paying $10 for 1,000 impressions on Facebook wouldn’t be horrible. However, paying $100 certainly would be. So, keep these figures in mind to maintain your advertisement spend within this general ballpark, and your budget will thank you for it.