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Bryson DeChambeau can feel the mood lightening in the locker room and on the course just one week after the PGA Tour and LIV Golf ceased hostilities. DeChambeau shot a 67 in his opening round at the U.S. Open on Thursday, leaving the long-hitting 2020 champion five shots behind record-setters Rickie Fowler and Xander Schauffele, … Continue reading Bryson DeChambeau says there's 'not as much tension' between PGA Tour, LIV players following merger

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A new study found that a previous COVID-19 infection offers at least the same level of protection as two doses of high-quality mRNA vaccines, such as Moderna and Pfizer-BioNTech. Additionally, people who are infected with the virus may be protected from reinfection for 40 weeks or longer, the study found. It was published in The … Continue reading Prior COVID infection provides just as much protection as vaccines, new study finds

What is an Influencer: Types, Examples, & How Much They Make

If you don’t know what an influencer is, where have you been living for the past decade? Influencers have transformed the way customers and brands use social media.

For most brands, they are part of a core marketing strategy that drives awareness, traffic, and sales. Influencers wield a lot of power. If you can get an influencer to endorse your product or brand, you can tap into the audience at the influencer’s disposal, which may be far more vast than your own following.

In this article, I’ll explain what an influencer is and how influencer marketing works. I’ll let you know how much you can expect to spend and how to get started today. Ready to increase your reach? Then let’s begin.

What Is an Influencer and What Is Influencer Marketing?

To put it simply, an influencer is any person who influences the behavior of others. In a marketing context, influencers are individuals who collaborate with brands to promote products or services to their audience.

Now that word-of-mouth recommendations and criticisms spread through social media faster than fire in a dry field, influencers are more important than ever. They usually have huge followings on social media and are brand advocates as well as niche promoters.

True influence drives action, not just awareness.

Jay Baer

What Is Influencer Marketing?

Influencer marketing is a social media marketing strategy that sees brands leverage the audience of influencers to drive awareness and sales. Influencers are paid to endorse or promote a product to their audience, who, in turn, buy the product from the brand.

Influencer marketing has been growing in popularity for years and will once again be one of the leading marketing trends for 2022. Almost three-quarters (72.5 percent) of marketers are predicted to use influencer marketing in 2022.

Who Uses Influencer Marketing?

While it seems that some companies don’t want to let go of their outbound marketing practices, fashion ecommerce sites are targeting influencers like pros. Many are reaching out to reputable fashion bloggers and sending them clothing and accessory items to be reviewed. The blogger then posts photos and writes about the garments, often linking back to the site where their audience can buy the items being reviewed.

An example influencer marketing ad featuring Kate Nash.

ModCloth, a vintage clothing site, does a great job of this. They are active in sharing (on social media platforms) the images their audience members provide showing them wearing ModCloth’s clothing. This makes their audience feel special, which encourages more posts about the clothing.

I’ve seen many fashion sites send their items to an influencer, and then the audience could enter a contest to receive them. Or sometimes, they will send a credit to an active fashion social media user, magazine writer, or blogger so they can go to the site, pick out some clothing, and then review the experience as a whole.

What Are the 4 Types of Influencers?

There are several different types of influencers. Influencers can be celebrities with millions of followers, or they can be a normal person with a few thousand followers. Typically, influencers are grouped into the following four categories depending on their audience size.

Nano-influencers

Nano-influencers have the smallest audience size with 10,000 followers or fewer. These people may be experts in very niche areas or people who are just starting their influencer journey. Their audiences may be small, but they are incredibly engaged.

NYC-based self-care and exercise Instagrammer Jen Lauren is an excellent example of a nano influencer. She has a small but highly engaged community and creates niche content.

Instagram Influencer Jen Lauren's page.

Micro-influencers

Micro-influencers have audiences that range from 10,000 followers to 100,000 followers. These people are typically niche experts with reasonably large and engaged audiences. They aren’t celebrities, and you’d walk past them in the street without knowing who they are.

Travel and lifestyle blogger Miette Dierckx is a micro-influencer with a carefully curated audience who follow her globe-trotting adventures. She works with a range of companies like sunscreen brand La Roche Posay and chocolate brand Cote D’or.

Instagram Influencer Miette Dierckx's page.

Macro-influencers

Macro-influencers have audiences sized between 100,000 and 1 million followers. These are some of the most accessible influencers with the biggest audiences. They tend to be B or C-list celebrities or online-native influencers who have worked hard to build up a big audience.

Fashion blogger Amy Jackson is a macro influencer who works with a huge range of brands like Celine and Cuyana.

Instagram Influencer Amy Jackson's page.

Mega-influencers

Mega influencers have the biggest audiences. Influencers have to have at least 1 million followers to be considered a mega influencer.

These are usually celebrities who have gained fame offline and translated that into online earnings — think Ryan Reynolds or the Jenners. Some, however, are native internet and social media users. People like Zoella or MrBeast are great examples of this.

Instagram Influencer Zoella's page.

How Much Do Influencers Cost?

Successful influencer marketing campaigns do not come cheap. In fact, brands will spend $15 billion on influencer marketing in 2022.

While you may be able to send free products to nano influencers, don’t expect a huge amount of traction. Influencers with larger audiences expect to be paid and campaigns can quickly reach five, six, and seven figures.

There are several ways you can pay influencers. Most will charge a flat fee for a post. Some may request an affiliate commission rate where they receive a percentage of every sale they make.

How much influencers cost depends on a number of factors, including:

  • audience size
  • platform
  • engagement levels
  • niche

Rates vary broadly. A report by Fox Business found that influencers with over one million followers can charge more than $100,000 per post. Micro-influencers, on the other hand, charge up to a few thousand dollars per post and can make upwards of $100,000 per year.

Why Do Influencers Matter For Your Brand?

Consumers trust recommendations from a third party more than from a brand itself, particularly if they are seen as knowledgeable and trustworthy. An influencer is a great example of this kind of third party. Working with influencers passes the trust they’ve built with their audience to your brand and makes you seem much more credible.

It makes sense if you think about it in a more personal context; you don’t usually trust a person at a cocktail party who comes up to you and brags about himself or herself and spouts fun facts about his or her personality to convince you to be a friend. Instead, you often believe your mutual friend who vouches for that person.

An influencer is the mutual friend connecting your brand with your target consumers.

An influencer also significantly expands your brand’s reach. When you align your brand with an influencer, not only do they bring their audience, but they also bring their audience’s network as well. Because of the loyalty of their audience, an influencer has the ability to drive traffic to your site, increase your social media exposure, and flat-out sell your product through their recommendation or story about their experience.

With the fall of traditional outbound marketing, influencer marketing is becoming one of the most effective ways to attract customers and clients. Modern-day consumers are self-sufficient and want to research a brand on their own and hear about it from someone they trust.

How do influencers assist with your inbound marketing? They generate content about your brand, they recommend your brand to their loyal following, and they insert themselves into conversations surrounding your brand. Getting them on your side before your competitor does can make a huge difference in the success (or lack thereof) of your company or product.

How to Get Started With Influencer Marketing

Working with influencers is a great way to grow your brand on social media.

Determine Your Goals

Do you want to increase brand awareness or make more sales? These are the two most common goals of influencer marketing campaigns, but achieving them requires significantly different strategies.

If you want to make more sales, for instance, you may choose to focus on micro-influencers who have small but engaged audiences. If you care about raising brand awareness, however, it will probably be better to work with a handful of macro and mega influencers.

Think About Your Audience

As a marketer, you already have a solid idea of the audience you should be targeting for your brand. To locate the ideal influencer, you need to take it one step further and think about the types of topics, blogs, and Twitter handles that your audience would follow.

Since I market a blogger outreach tool for my company, the influencers that I target are PR and marketing blogs that focus on content and influencer marketing. Followers of these blogs usually are PR professionals and marketers who want to keep up with the latest technology and trends in their field.

Thus, hopefully, they find my company relevant when a blogger they follow recommends it. However, had I gone after bloggers who write about finance, even though a particular blogger might like my software, their audience most likely wouldn’t care.

Find the Right Influencer for Your Brand

With your goals and target audience established, you can start to find influencers who are a great fit for your brand. There are three factors I recommend bearing in mind when choosing influencers.

Context: Is your influencer a contextual fit? This is the most important characteristic when targeting the right influencers for your brand. For example, Justin Bieber is known as one of the most “influential” social media users with his 37+ million followers. Would his tweet about your software really bring in sales, though? Probably not, because the target audience for tech software and Justin’s target audience aren’t the same; his endorsement isn’t really relevant.

Reach: In addition to wanting an influencer from your field, you also want them to have reach. This is so they can share their awesome content or positive recommendation of your brand with as many of the right people as possible. If your online business sold clothes for “tweens,” then maybe a mention to 37 million girls from Justin Bieber wouldn’t be so bad after all.

Actionability: This is the influencer’s ability to cause their audience to take action. This characteristic comes naturally when you target individuals that are in contextual alignment with your brand and have a far enough reach.

Influencers don’t force themselves upon an audience. They are an “opt-in” network. Their audience chooses to follow their blog or Twitter handle. Thus, their audience is engaged and is there to hear about the topic being discussed. Hence, the need for a contextual fit.

I want to note that there is a lot of market research coming out about mid-level influencers. These are the influencers who have a decent reach but don’t have such a large audience that they can’t nurture relationships with their audience and harness loyalty. A loyal audience soaks up recommendations like a dry sponge. If in doubt, these are the influencers you should aim for.

Where to Look for Your Ideal Influencer

The final step in getting started with influencer marketing is to find those influencers who meet all of the criteria we’ve listed above. Here are my favorite ways of finding them.

Social Media Monitoring

Brand advocates are the loudest influencers your brand will have. Not only does their audience follow them because what they write aligns with your brand, but they also talk loudly and actively about how much they like your company. By tuning in to your social media mentions and blog posts about your brand, you will find influencers and advocates you didn’t realize you had.

Social media monitoring also allows you to find influencers who advocate for the genre or niche you outlined in step 1. For example, someone may post and tweet heavily about yoga gear but not mention your website as an awesome place to buy yoga apparel or equipment. Well, this is someone you want to engage with and expose your brand to.

Research Hashtags

Identify the hashtags that your target influencers are using. For my company, I follow #bloggeroutreach and #influencemktg. By tuning in to the conversations surrounding these hashtags, I have not only identified active talkers in these categories, but I’ve also identified blog topics that I wrote to appeal to these influencers as well.

Once you start finding influencers that seem like a good fit for your brand, I recommend putting them in a Twitter list so that you can organize and follow them most effectively. I use HootSuite to organize my Twitter channel. Here is what my hashtags look like in their platform:

HootSuite's homepage shown as an example of hashtag reseach.

Google Alerts

Set alerts for keywords pertaining to your brand to identify people who actively write about topics in your realm. You also should create alternatives for the name of your brand so that you can find posts and articles containing your mentions and identify advocates who already are in place.

The google alert page for identifying people who write about certain topics.

Mention

Mention allows you to type in your company’s name to discover mentions on different outlets such as YouTube, Twitter, and Facebook, just to name a few.

Blogger Outreach

Bloggers arguably are the strongest spoke in the wheel of influencers. One of the bonuses of targeting bloggers is they almost always are active across many social media platforms.

When locating influential bloggers for your brand, start by searching for blogs in your genre and find the niche(s) by reading through the posts to determine if they write about relevant post topics. After making a list of the contextually relevant bloggers, then it’s time to locate their SEO stats and social media information to pinpoint the ones that equal the best reach for your brand.

Outreach to bloggers as a way to find potential influencers.

Manually sorting through blogs to find all of the criteria that you outlined when you gave your influencer an image can take a long time. Luckily, there are a lot of really good blogger outreach tools out there to make this process easier. There is a tool to cover every part of the spectrum.

Influencer Marketplaces

Influencer marketplaces like AspireIQ and Famebit connect brands with influencers in their industry. They often help track the ROI of campaigns, manage payments, and track engagement metrics. They do, however, take a cut, so make sure it’s a good fit for your campaign before investing.

Examples of Influencer Marketing Matches

Callum Snape and Sun Peaks Resort

Macro influencer Callum Snape is one of Canada’s best-known wilderness and travel photographers. That made him a perfect partner for Sun Peaks Resort, an alpine ski resort in British Columbia. His incredible images and videos created hundreds of thousands of views and likes, driving massive awareness for the resort.

An example influencer marketing Instagram post from Callum Snape and Sun Peaks Resort.

Chrissy Teigen and BECCA Cosmetics

Launching a new product alongside a mega influencer can result in a huge boost in awareness. That was the case for BECCA Cosmetics which launched its new Be a Light palette with Chrissy Teigen. Her promo video garnered 2.7 million views, which has helped launch an incredibly profitable product line.

An example influencer marketing Instagram post from Chrissy Teigen.

Gymshark and Multiple Influencers

Gymshark has built a billion-dollar business on the back of influencers. The brand’s recent 66-day challenge is a great example of how you can raise brand awareness and engagement on a massive level by working with multiple influencers across several channels at once. By partnering with influencers like Melanie Walking and Laurie Elle, Gymshark garnered 241.3 million views on TikTok and 750,000 posts on Instagram.

An example Influencer marketing instagram post from Gymshark.

FAQs

What is an influencer?

An influencer is an individual who wields influence over an audience of people. In a marketing context, they have a large social media following and work with brands to promote products and services. 

What are the four types of influencers?

There are 4 types of influencers: nano-influencers, micro-influencers, macro-influencers, and mega-influencers.

How much does it cost to hire an influencer?

The cost can vary based on industry, the campaign, and the influencer’s reach. Smaller Instagram influencers make between $100 and $300 per post, large celebrities can make thousands or hundreds of thousands.

Where can I find the right influencer for my industry?

Consider using influencer engagement marketplaces or searching relevant hashtags and brands on your platform of choice.

How do I track ROI for influencer campaigns?

Pairing influencer campaigns with affiliate marketing is the easiest way to track ROI. By providing influencers with a unique link makes it simple to track sales and engagement.

How successful is influencer marketing?

Like any marketing campaign, it depends on your strategy and goals. However, 80 percent of marketers find influencer marketing is effective, and 89 percent say it is as effective or more effective than other channels.

Conclusion

Influencer marketing has evolved since it first became a digital marketing strategy, but the technique continues to be successful for many brands.

It’s easy to make mistakes with your first influencer marketing campaign. If you want help creating an influencer campaign for your company, let our agency know and we can help guide you through the process.

Where do you look for influencers for your brand? Cheers to a good discussion in the comments below!

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How Much Do Facebook Ads Cost?

983079_HowMuchDoFacebookAdsCost_030321

Last year, Facebook made over $84 billion in revenue. Where do you think the majority of that revenue is coming from? If you guessed Facebook ads, you’d be correct.

Facebook advertising offers endless opportunities to interact with your target audience on a conversational platform. With 68 percent of Americans logging onto Facebook a day, if you’re not advertising on the platform, you’re missing out on some big opportunities.

Now that we’ve established the value of marketing on Facebook, you’re probably wondering how much do Facebook ads cost? Can I squeeze the platform into my paid social budget?

A recent AdEspresso study found that:

  • The average Cost Per Click (CPC) is $0.35 globally and $0.28 in the U.S.
  • The average Cost Per Like in the U.S. is $0.23. 
  • The average Cost Per App install in the U.S. is $2.74.

The issue is a number of factors can impact the cost of Facebook ads. So the average cost doesn’t tell you a whole lot about how much you can expect to spend. 

3 Factors That Impact Facebook Ad Costs

While there’s no set fee per ad type, there are a variety of factors that determine the cost of a specific ad, including ad type, bidding, and metrics.

Below, we break down the different components that work collectively to determine the price of your Facebook ad.

Facebook Ad Type

Facebook’s business platform gives marketers a variety of options to reach their intended audiences and retarget site visitors.

Much like other paid social campaigns, when charting your Facebook ads campaign, you need a clearly-defined budget. Your cost per result is defined within your bidding strategy (we’ll get to that in a bit). To ensure you don’t exceed your budget, Facebook also offers two cap options: a campaign spending limit and an account spending limit.

Here are the different types of Facebook ads you can use to achieve your campaign goals.

  • Page Post Engagement Ads: Reach a larger audience beyond your business’ Facebook page by using this tactic. These ads help you drive engagement on specific posts, stretching reach. By generating more activity on your posts, you gain more likes and followers who react positively to your brand or content. However, these campaigns can drain your budget if not enacted effectively.  
  • App Install Ads: These ads aim to do exactly what their title suggests—drive app downloads. Rather than highlighting individual features, these ads often demonstrate the app’s function and purpose.
  • Video Ads: Historically, video ads earned 135 percent more organic reach on Facebook compared to their stagnant counterparts. Facebook video ads can educate your audience about a product’s value and drastically increase reach.
  • Local Awareness Ads: Hoping to increase attendance for a free event or store opening? Local awareness ads are your new best friend. These ads drive brand awareness in specific regions, targeting users via location.
  • Offers: By setting off-site offer downloads as a campaign objective, you can customize your ads with specific calls-to-action. The offer ad should direct your audience to a landing page on your website that allows them to complete that action promised in the call-to-action.
  • Carousel Ads: Carousel ads are hosted on Facebook, Instagram, and Messenger. These visually stimulating ads allow you to share a narrative through up to ten images. When done right, these creative ads can drive up to ten times more traffic in three months. If your audience tends to react positively to an interactive experience, these ads are the way to go.
  • Image Ads: If you’re looking for an easy-lift ad, image ads are probably the route to take. These simple visuals are common, but don’t count them out: they can be extremely effective. With a visually arresting image and accompanying text, you can craft an effective ad that drives your audience to take action. 

The type of ad you select can impact the cost of your Facebook ads—which makes sense when you consider that making a sale is more valuable than, for example, getting a page like.

Ads that drive direct actions (like app installs) or sales tend to cost more than ads aimed at increasing brand awareness. 

Facebook Bidding Strategy

You’ve set a budget and determined which ad will work best for your upcoming marketing campaign.

Now what?

It’s time to dive into bidding.

When you bid on Facebook ads, you are entering into competition with other advertisers for the valuable terrain that is Facebook ad space. The platform uses an auction to establish which users interact with specific ads.

How does Facebook determine who sees what ads?  

It all starts with the competitive value of your bid. That metric is derived by adding the sum of your maximum bid to your ad’s quality and relevance score.

Quality score is a metric that represents how interested an audience member would be in your ad. Facebook estimates this figure as your ad performs, weighing the positive and negative to assign this figure.

To determine relevance, Facebook assigns a score based on the perceived interest of your target audience.

These metrics can be found in Facebook Ads Manager, and you can adjust your audience as needed to impact their standing.

Now that you understand what impacts who sees ads, let’s talk about the two types of bids—automatic and manual.

how much do facebook ads cost - bidding strategies
  • Automatic: When you select automatic bid, Facebook spends your entire ad budget to maximize your results. For those who are unsure of bid price, Facebook suggests going this route. Despite this recommendation, there’s more room for control when you take bidding into your own hands.
  • Manual: When you select manual bid, you have more autonomy over ad delivery and can enjoy better results for a lower cost than with automatic bids. With this method, you have options when it comes to optimizing ad delivery:
how much do facebook ads cost with ad optimization

Using manual bidding, you can optimize ad delivery for the specific desired result. Facebook’s delivery system and auction optimize for the desired action within each campaign objective.

When manually bidding for actions like conversions or clicks, there are two options to choose from maximum or average:

how much do facebook ads cost with manual entry
  • With Maximum bid, you set the highest possible price you will pay for a result.
  • With Average bid, your price fluctuates as an average, not a cap, giving you greater flexibility to reach your intended audience. 

Automatic bidding might be a better choice if you are just getting started, but manual bidding does provide more control. If you are new, I suggest starting with automatic bidding—you can set a maximum budget to prevent overspending. 

Facebook Ad Costs: Metrics to Track     

How much you spend on Facebook Ads should also be dictated by historical performance. To assess how an ad performed in the past, there are a number of metrics you can look at, including: 

  • Cost per Click (CPC) and Click Through Rate (CTR): From CPC, you learn how much the average click from your Facebook ad to your website costs. CTR represents the percentage of individuals who interacted with your website after interacting with your Facebook ad. With a high CPC, you’re going to want to check your CTR.

If you see a low CTR, that means your creative isn’t working, you’ve picked the wrong ad type to use on your audience, or your targeting is off.

These metrics serve as indicators of success. Check them frequently to ensure you’re not overspending on clicks that don’t result in action.

  • Cost per Action: Actions can take a lot of different forms—a video play, a click, a form fill. By assessing your ad’s CPA, you can get a pretty good indicator of performance. If you can lower that CPA, you can anticipate more conversions and drive revenue with the same ad spend.

For a more contextual understanding of your CPA, measure it alongside your ad set spend and frequency. Individually, ad metrics give you a tile. Collectively, they give you the mosaic of the true value of your ad.

  • Conversion Rate: Your conversion rate is the percentage of people who completed the sales cycle by interacting with your ad and ultimately making a purchase. Your conversion rate is the most important metric—it truly lets you know if you are meeting your goals.  

While there are many metrics you can find through your Facebook ads dashboard, these three provide insight into valuable data points that can tell you if you are overspending on your Facebook ads campaign.

When you ask how much do Facebook ads cost, the answer actually lies within the question: how valuable are my Facebook ads?

What Should You Spend on Facebook Ads?

The amount you should spend on Facebook ads is relative to the business you’re promoting and their specific goals. However, there are a few factors to take into account when identifying a definitive figure, including your budget and overall marketing goals. 

In general, a marketing budget should fall between 5 percent and 12 percent of revenue. If you’re looking to jumpstart growth, maybe you’re closer to that 12 percent. If you’re looking for sustained growth, you’re probably closer to that 5 percent. 

How Much Do Facebook Ads Cost - marketing budget split for facebook ad cost

Your Facebook ad budget should be split into three sections. 

  • 20 percent to engagement, education, and audience building
  • 60 percent to promoting your offer and generating conversions
  • 20 percent to retargeting

Allotting your budget in this fashion diversifies your ads, so you use lead-generation and content-focused ads together to drive Facebook ad success. 

You should also consider your overall goals. If your goal is to increase sales, it might make sense to spend more money to drive sales higher. On the other hand, if you want to increase brand awareness, it’s likely a better idea to have a set budget per month and reassess occasionally. 

Conclusion 

With 73 percent of United States Facebook users logging on daily, the social media platform is definitely worth a second look. 

Whether you’re new to Facebook advertising or a seasoned veteran of the platform, choosing the right ad format for your marketing strategy can make or break the campaign.

After you select and optimize your ads, it’s time to let your budget guide you the rest of the way.

Keep an eye on your performance through the metrics discussed above, and don’t be afraid to make adjustments.

Have you tried Facebook ads? What was your average cost? 

How Much Do Twitter Ads Cost?

With an advertising audience of 353 million, Twitter is an ultra-effective free advertising tool. Still, as you probably know, the social networking site also provides plenty of paid advertising opportunities that let you target your followers, automate your bids, and promote your business. When used properly, these ads enable your brand to gain visibility and …

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How Much Do Twitter Ads Cost?

With an advertising audience of 353 million, Twitter is an ultra-effective free advertising tool. Still, as you probably know, the social networking site also provides plenty of paid advertising opportunities that let you target your followers, automate your bids, and promote your business.

When used properly, these ads enable your brand to gain visibility and attract more followers, click-throughs, and app downloads.

But how much do Twitter ads cost? Are they worth the cost?

You’ll find it hard to find a definitive answer to this. Naturally, the cost of Twitter ads varies for every marketer. They’ll differ depending on the aims, strategies, types of ads you use, and the price you’re willing to pay per bid.

The good news is that Twitter has advertising solutions available for all business sizes and budgets.

I will explain the different Twitter advertising options below. These factors contribute to your Twitter ads costs and finish with the metrics you should track to measure your campaigns’ cost-effectiveness.

Let’s start with the factors that influence the cost of your Twitter ads.

5 Factors That Affect the Cost of Twitter Ads

Several factors contribute to the total costs of your Twitter ads. This includes the type of adverts you’re using, the billable actions, your marketing techniques, your bid amount, and of course, the budget you have available to you.

Let’s look at these elements in more detail, starting with ad type.

1. Ad Type

Twitter offers three different main types of ads: promoted tweets, trends, and accounts.

Promoted ads: if you use Twitter, then you’re likely to have noticed these. Promoted tweets appear in your timeline, and you’ll see them tagged as “promoted.” You can retweet, share, and like promoted tweets the same way you would with regular tweets. 

Promoted tweets can increase visibility and engagement. These Twitter ads’ costs will depend on how much you bid, but prices vary from $0.50 to $2 per billable action.

Promoted Trends: at $200,000 a day, promoted trends aren’t for everyone, but if you’re a large corporation with established, engaged followers, these ads could prove worthwhile for you.

Twitter Promoted Trends ads combine video with Twitter’s Explore function and show on Android, iPhone, and TweetDeck, and Twitter displays these ads for 24 hours in its Trends list.

The purpose of these adverts is to spark conversations and reach Twitter’s considerable audience. Specifically, Twitter suggests using them for new launches and promotions to increase awareness.

Promoted Accounts: when you’re on Twitter, you might notice some suggestions of other accounts to follow. Typically, these ads are suitable for users who want to increase their followers or announce a product launch. Promoted accounts cost vary from $2-$4 per follower.

2. Billable Actions

When you advertise on Twitter, the ad costs will also depend on your billable actions. Naturally, every marketer will have different objectives for their campaigns, so the type of billable actions you want Twitter users to take won’t be the same as another marketer or business owner. 

For instance, you may want to get more followers, encourage app installs, or get click-throughs to your website, while another business owner might want to focus on video views.

There’s no set rate for these actions. As a business, you decide how much you want to pay through Twitter’s auction model. Once a Twitter user clicks through to your website or installs an app, or takes another billable action, Twitter will charge you.

Billable actions include:

  • followers
  • installs
  • engagements
  • video views
  • pre-roll views

3. Auction Bids

One of the biggest influences on your Twitter ads cost is the amount you bid. As with any other auction, the highest bidder wins. Even if you’re willing to pay just a cent more than your rival, your ad will get shown.

However, if winning auctions is your goal, don’t overlook one crucial aspect of success with your bids: focus on your ads’ quality, as Twitter will pay attention to this, too. What that basically means is the higher the quality of your ads, the better the engagement, and the lower your costs.

What does Twitter mean by “ad quality?” In Twitter’s own words, it means adverts that are:

  • resonant
  • relevant
  • recent

In other words, make sure your ads are engaging, targeted, and up to date.

4. Bidding Types

You can choose three types of bids on Twitter: maximum, automatic, and target bidding. Each of these types can influence your total Twitter ad costs in different ways.

Maximum Bidding

With maximum bidding, you set your top bid in the same way you would for any other online auction. You won’t need to spend your maximum amount on every bid, just enough to win against your nearest competitor.

Automatic Bidding

Automatic bidding is Twitter’s default option. You decide your budget, and Twitter will make the bid for you. There’s just something to consider with automated bidding, though. Although it might seem a good idea to leave it all to Twitter, you’ll spend through your budget pretty fast this way.

Target Bidding

Target bidding allows you to select your target cost-per-link, but it’s not for every ad campaign. Twitter limits its target bidding for website visits and followers.

When you use target bidding, you’ll base your campaign around what you want to achieve. For example, if you’re a new business, you might choose to get clicks through to your website.

You’ll select the price you want to pay for your target bidding when you’re starting your campaign on Twitter. If you’re looking for guidance, Twitter will show you real-time pricing before you place your bid.

5. Advertising Campaign Types

Twitter gives you six campaign types to choose from. They are:

  • followers
  • websites clicks and conversions
  • tweet Installs
  • app installs and re-engagements
  • video views
  • leads on Twitter

Your Twitter ads cost will depend on which campaign you select and what you hope to achieve from your advertising. For a more precise idea, Strike Social gives an excellent example of what this could look like in practice:

  • website visits campaign: $1.68–$10
  • followers campaigns: $2.50–$3.50
  • tweet engagements campaigns: $1.50–$2.50
  • app installs or re-engagement campaigns: $1.95–$3.25.
  • awareness campaigns: $6.00–$8.00

Metrics

As with any other advertising campaign, measuring your key metrics lets you understand your ROI. Only then can you work out whether you’re getting fruitful results and growing your business, or whether you need to make some changes. 

However, not all metrics are equal when it comes to social media.

The metrics that you’ll want to focus on most are the ones that encourage engagement, increase conversions, and how much this costs you per click. That means concentrating on metrics like your CPCs, CPFs, and CPEs.

According to WebFX, you can expect your main metrics to look something like this:

How Much Do Twitter Ads Cost - WebFX metrics

Click-through Rate

The click-through rate is at the top of the list for many marketers. It lets you measure engagement and see what’s working. According to AdStage, Twitter has an average click-through rate of 0.86.

Engagement Rates

Engagements come in many forms including, comments, retweets, follows, and replies. In case you’re wondering what your engagement rate should be, this depends on your niche, according to recently published research by Rival IQ.

How Much Do Twitter Ads Cost - 2021 benchmark study

The research shows that higher education leads the way with a 0.087 percent engagement rate. This is followed by:

  • 0.071 percent for sport teams
  • 0.068 percent for the food and beverage sector
  • 0.062 percent for the alcohol industry

There are a few surprises among this data, with tech and media, fashion, and media sectors among the industries with the lowest engagement rates.

Conversion Rate

Your conversion rates show you the return you’re making on ad spend. You can track this through your Twitter account. Just go to ads.twitter.com, login, then:

  1. Click “Tools” from the drop-down menu at the top of the page.
  2. Scroll down to “conversion tracking.” If you can’t see this, it might be because you don’t have a credit card on file with Twitter.
  3. Agree to terms and conditions.
  4. Select the “Generate a website tag for conversion tracking.”
  5. Copy the code into your website. 

If you’re not sure how to use coding, Twitter talks you through it on its pages.

Twitter Analytics

How Much Do Twitter Ads Cost - Twitter analytics dashboard

Twitter has an analytics tool that will show you how your organic and paid-for tweets perform. Keep track of these. If your organic tweets perform better than your paid advertising, you will want to refine your campaigns.

To use Twitter analytics, just go to your Twitter account and click the “turn on analytics” option. This will show your:

  • mentions
  • new followers
  • impressions
  • profile visits

Other metrics you’ll want to concentrate on include your:

  • Cost per follower. Your CPF needs little explanation: it shows you how much it costs you to gain a new follower.
  • CPM is your cost per mile. It measures your rate per 1,000 impressions.
  • Cost per download (CPD) or cost per install (CPI) shows you what each install costs. On Twitter, the average per install is $2.53.
  • Cost Per Click /Cost Per Action: When you’re paying for billable actions like click-throughs, followers, or app downloads, you’ll want to know how much this costs you on average to manage your budget.

What Should You Spend on Twitter Ads?

There’s no set amount that you should spend on Twitter. The site offers a mix of advertising items at differing prices, and it’s all about considering which is best suited to your business.

However, before you can decide how much to spend on Twitter ads, you’ll need to consider what you’re trying to achieve with your advertising campaign. 

For example, a small business trying to promote its craft products might find that promoted tweets are enough to get click-throughs and conversions. In contrast, larger companies building on their existing audience are likely to have a more significant marketing budget and want to take a different approach.

It will also depend on:

Industry: As the stats from Rival IQ shows, some sectors attract more engagement than others, meaning the types of campaigns you run may need to differ depending on what industry you’re in.

Audience: Knowing what you want from a campaign is just one side of the story. Your audience is something else you should consider. If you already have an audience on Twitter, you’ll know the kind of content that engages them and gains you the most conversions. 

Budget: How much Twitter ads cost ultimately depends on what you have available in your budget. To best plan your budget, ensure you understand all there is to know about bids, auctions, and billable actions.

Ad score: Twitter combines your bids with your ad quality to come up with your ad score. A superior ad score may reduce how much you pay.

How Much Do Twitter Ads Cost?

Ultimately, the answer is, it varies depending on your goals, strategies used, and the budget available to you. As Twitter explains:

“How much you pay in your campaigns is up to you. By setting up your budget during the campaign setup, you can control your Twitter ads costs.”

With Twitter, you can customize your adverts to suit your individual needs, and there are no minimum costs.

When you’re setting up your adverts, Twitter will ask you to set your total budget and daily maximum. Twitter’s general guidance is to set your budget at a price you’re comfortable with, but even if you don’t have the marketing budget of a multimillion corporation, a little can take you a long way.

Conclusion

Your Twitter ads costs will vary depending on several factors, including the strategy you use, the billable actions, and the type of adverts you choose.

Depending on your brand’s size, not all Twitter’s advertising options are ideal for every business. 

A small business with a limited budget isn’t likely to want to spend massive amounts. In contrast, a corporation will have a significant marketing budget at its disposal and be willing to spend much more.

However, with no minimum spend and the ability to target an audience, you may find Twitter ads are a useful tool for gaining visibility and promoting your brand. 

Do Twitter Ads work for you? Which strategies do you use?

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