Is Social Media Advertising Cheap?

Reaching out to your customers through social media advertising is a great idea and one of the fastest ways to reach your ideal audience.

But Is social media advertising cheap? How much does it cost, though?

For companies or business owners to promote their goods and services, social media platforms like Facebook, Twitter, Instagram, LinkedIn, and others are becoming more crucial tools for reaching customers quickly.

So, for businesses trying to promote their brands, social media advertising has turned into a profitable investment.

which is one of the reasons Why social media advertising is important for any business.

But is the price actually cheaper than that of other means of advertising? or rather, is social media advertising cheap?

The answer is based on a number of variables, which I will be breaking down for you below.

So, is social media advertising cheap or it’s expensive for a business owner?

Sorry to disappoint you, but there is nothing like cheap social media advertising when it comes to social media ads.

What makes a social media advert cheap is the result or sales you get from that advertising and not the amount you spent.

Running a social media campaign can be cheap and at the same time expensive depending on so many factors which I will share with you below.

As businesses are different, so are getting results from social media advertising different for businesses.

Because a Fashion business is running social media advertisements for a cheap amount and getting sales, doesn’t mean a real estate business will run advertisements on that same social media platform and get the same result.

Likewise, because a Restaurant business is running social media advert for a cheap amount, doesn’t mean if you run a social media advert for that same business, it will be cheap.

I will explain further…

If you run a social media advertising with N20,000 and you made N19,000 in sales out of the campaign, and your competitor used N95,000 for their own advertisement and made a sum of N300,000 in profit.

what social media has the cheapest advertising among the two examples? the second one is cheaper because it gives you the most return per ad spent.

Note that some factors need to be considered before you can get a good result on your social media advertisement.

Factors that can make social media Advertising Cheap or expensive:

1. The Social Media Platform you are using to run your advertisement
2. How you structure your social media campaign
3. The kind of audience you are targeting
4. Your campaign Copy
5. The final destination
6. The campaign budget. Just to mention but a few.

Now you know the factors to consider before running your social media ads for less amount possible,

but you still don’t know the platform that will give you the best social media advertising result?

We have many social media platforms but the most popular ones are Facebook, Instagram, LinkedIn, Twitter, Quora, Youtube, Tiktok, and Google.

but…

is social media advertising cheap on Facebook, Instagram, and the rest of them? which one should be the cheapest for you as a start-up?

Which social media is the cheapest to advertise on?

Knowing which social media is the cheapest to advertise on really depends on you and the kind of business you want to promote.

There are popular platforms to advertise on, which I have mentioned above.

Is social media advertising cheap on these platforms? here is what you should know before choosing a social media advertising platform…

You need to first know the social media platforms where your audience is hanging out before running any campaign.

This will help you get better results because your audience can relate better to your message.

What is the cost of advertising on social media?

If you are wondering what is the cost of advertising on social media, the cost of advertising on social media is different for each social media platform, and how much should you spend on paid ads is determined by the type of business you are trying to promote.

But this little graph by Statista will guild you on how much to budget when trying to run social media advertising on any platform.

Note that this graph is only a reference. and the prices can vary depending on the type of business. This social media advertising cost graph should take away the thought of “how much should I budget for social media advertising”

the graph will give you a head start any time you want to run a social media campaign.

Conclusion

See social media as an investment because…

If you Look at social media advertising as an investment in your business, you will not be bordered by how cheap social media is,

rather you will be more concerned about how much return on social media advertising costs you are getting.

I hope this article has answered the question of “is social media advertising cheap”

Note that…

We have a full stack of professional digital marketers who have tested a lot of social media advertising frameworks

and know the best possible framework to achieve your social media advertising goals online.

If you don’t have the time to waste money on social media advertising, you can contact our team of professional digital marketers and book a one-on-one consultation here for free.