How A lot Do Twitter Adverts Price?
With an advertising audience of 353 million, Twitter is an extremely effective free advertising tool. As you probably know, the social networking site also has numerous paid advertising opportunities that you can use to target your followers, automate your bids, and promote your business.
When used correctly, these ads allow 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 will find it difficult to come up with a definitive answer to this. Of course, the cost of Twitter ads varies for each marketer. They differ based on the goals, strategies, types of ads you use, and the price you want to pay per bid.
The good news is that Twitter has advertising solutions for businesses of all sizes and budgets.
I'll explain the different Twitter advertising options below. These factors add to the cost of your Twitter ads and bottom out on the metrics you should track to measure the cost effectiveness of your campaigns.
Let's start with the factors that affect the cost of your Twitter ads.
5 factors that affect the cost of Twitter ads
Several factors contribute to the overall cost of your Twitter ads. This includes the type of ads you use, the billable promotions, your marketing techniques, your bid amount, and of course the budget you have available.
Let's take a closer look at these elements, starting with the ad type.
1. Ad type
Twitter offers three main types of ads: Promoted Tweets, Trending, and Accounts.
Sponsored Ads: If you use Twitter, you've probably noticed these. Sponsored Tweets will appear in your timeline and will be marked as promoted. You can retweet, share, and like advertised tweets just like regular tweets.
Sponsored tweets can increase visibility and engagement. The cost of these Twitter ads depends on how much you're bidding. However, prices vary between $ 0.50 and $ 2 per billable promotion.
Funded trends: At $ 200,000 a day, promoted trends aren't for everyone. However, if you're a large company with established, engaged followers, these ads might prove to be worthwhile to you.
Trends ads sponsored by Twitter combine video with Twitter's Explore feature and are displayed on Android, iPhone and TweetDeck. Twitter will display these ads on its trending list for 24 hours.
The purpose of these ads is to stimulate conversation and reach Twitter's sizeable audience. In particular, Twitter suggests using them for new launches and promotions to raise awareness.
Sponsored accounts: While on Twitter, you might notice some suggestions from other accounts that you should follow. Typically, these ads are suitable for users who want to increase their followers or announce a product launch. The cost of sponsored accounts varies from $ 2 to $ 4 per follower.
2. Billable Promotions
When you advertise on Twitter, the cost of advertising also depends on your billable promotions. Of course, every marketer has different goals for their campaigns, so the types of billable actions that you want Twitter users to take are not the same as any other marketer or business owner.
For example, you might want to get more followers, promote app installs, or get click-throughs to your website while another business owner might want to focus on video views.
There is no set rate for these promotions. As a company, you decide how much you want to pay through Twitter's auction model. Whenever a Twitter user clicks on your website or installs an app or takes some other billable action, Twitter charges you a fee.
Billable promotions include:
- pendant
- Installed
- Engagements
- Video views
- Pre-roll views
3. Auction bids
One of the biggest influences on the cost of your Twitter ads is the amount you bid. As with any other auction, the highest bidder wins. Even if you're willing to pay just a dime more than your rival, your ad will run.
However, if your goal is to win auctions, don't overlook one critical aspect of success in your bids: focus on the quality of your ads, as Twitter will take this into account as well. Basically, the higher the quality of your ads, the better the engagement and the lower your costs.
What does Twitter mean under "Ad Quality"? In Twitter's own words, this means advertising that:
In other words, make sure your ads are engaging, targeted, and up-to-date.
4th Bid types
There are three types of bidding you can choose from on Twitter: max, auto, and target. Each of these types can affect your overall Twitter advertising costs in different ways.
Maximum bid
With the maximum bid you set your highest bid like with any other online auction. You don't have to spend your maximum amount on each bid, just enough to win against your closest competitor.
Automatic bidding
Automatic bidding is the default option on Twitter. You decide your budget and Twitter will bid for you. However, there is only one thing to consider with automated bids. While it seems like a good idea to leave everything to Twitter, you will be using up your budget pretty quickly this way.
Target bid
Target bids allow you to choose your target cost per link, but this does not apply to every advertising campaign. Twitter limits its target bid for website visits and followers.
When using target bidding, base your campaign on what you want to achieve. For example, if you're a new business, you can choose to get clicks on your website.
You choose the price you'd like to pay for your target bid when you launch your campaign on Twitter. If you're looking for guidance, Twitter will show you real-time prices before you bid.
5. Types of advertising campaigns
Twitter gives you six types of campaigns to choose from. They are:
- pendant
- Website clicks and conversions
- tweet Installed
- The app will be installed and reactivated
- Video views
- leads on twitter
The cost of your Twitter ads depends on which campaign you choose and what you want your advertising to achieve. To give you a better idea, Strike Social gives an excellent example of how this could look in practice:
- Website Visiting Campaign: $ 1.68 to $ 10
- Follower Campaigns: $ 2.50 to $ 3.50
- Tweet engagement campaigns: $ 1.50 to $ 2.50
- App installs or reintegration campaigns: $ 1.95 to $ 3.25.
- Awareness Campaigns: $ 6.00 to $ 8.00
Metrics
As with any other advertising campaign, measuring your key metrics can help you understand your ROI. Only then can you find out if you are getting fruitful results and growing your business, or if you need to make some changes.
However, when it comes to social media, not all metrics are created equal.
The metrics you want to focus on the most are driving engagement, driving conversions, and how much you cost per click. That means focusing on metrics like your CPCs, CPFs, and CPEs.
According to WebFX, you can expect your main metrics to look something like this:
Click rate
Click through rate is high on the list for many marketers. This allows you to measure engagement and see what works. According to AdStage, Twitter has an average click-through rate of 0.86.
Engagement rates
Engagements come in many forms, including comments, retweets, followings, and replies. In case you're wondering what your engagement rate should be, it depends on your niche. This is evident from recently published research by Rival IQ.
Research shows that higher education leads the way with an engagement rate of 0.087 percent. It follows:
- 0.071 percent for sports teams
- 0.068 percent for the food and beverage sector
- 0.062 percent for the alcohol industry
There are some surprises among this data, with technology and media, fashion and media being among the industries with the lowest engagement rates.
Exchange rate
Your conversion rates show you the return on your ad spend. You can follow this through your Twitter account. Just go to ads.twitter.com, sign in, and then:
- From the drop-down menu at the top of the page, click Tools.
- Scroll down to Conversion Tracking. If you can't see this, it may be because you don't have a credit card on Twitter.
- Agree to the terms and conditions.
- Select "Generate website tag for conversion tracking".
- Copy and paste the code into your website.
If you're not sure how to use the encoding, Twitter will let you know on its pages.
Twitter Analytics
Twitter has an analytics tool that shows you the performance of your organic and paid tweets. Keep an eye on these. If your organic tweets are performing better than your paid advertising, it's time to refine your campaigns.
To use Twitter Analytics, simply go to your Twitter account and click the "Enable Analytics" option. This shows your:
- Mentions
- new trailers
- impressions
- Profile visits
Other metrics you might want to focus on include:
- Cost per follower. Your CPF needs little explanation: it shows you how much it costs to get a new follower.
- CPM is your cost per mile. It measures your rate per 1,000 impressions.
- The cost per download (CPD) or the cost per installation (CPI) shows you what each installation costs. On Twitter, the average per install is $ 2.53.
- Cost per click / cost per action: When you're paying for billable promotions like click-throughs, followers, or app downloads, you want to know how much it costs you on average to manage your budget.
What should you spend on Twitter ads?
There is no set amount you should be spending on Twitter. The website offers a mix of promotional items at different prices. The point is to check which ones are best for your company.
Before you can decide how much to spend on Twitter ads, however, you need to think about what you want to achieve with your advertising campaign.
For example, a small business trying to promote its craft products might find that advertised Tweets are enough to generate click-throughs and conversions. In contrast, larger companies building on their existing audience are likely to have a larger marketing budget and want to take a different approach.
It will also depend on:
Industry: As statistics from Rival IQ show, some sectors attract more exposure than others. This means that the types of campaigns you run must be different depending on the industry.
audience: Knowing what to expect from a campaign is only one side of the story. Your audience is something else to consider. If you already have an audience on Twitter, you'll know the type of content they're targeting and get the most conversions.
Budget: How much Twitter ads ultimately cost depends on what's available in your budget. To get the most out of your budget, make sure you know everything you need to know about bids, auctions, and billable promotions.
Ad rating: Twitter combines your bids with your ad quality to get your ad rating. A superior ad rating can lower your pay.
How Much Do Twitter Ads Cost?
Ultimately, the answer is: it depends on your goals, strategies, and the budget that is available to you. As Twitter explains:
“How much you pay in your campaigns is up to you. By setting your budget during campaign setup, you can control the cost of your Twitter ads. "
Twitter allows you to customize your ads to suit your individual needs, and there are no minimum costs.
When you set up your ads, Twitter will ask you to set your total budget and daily maximum. Twitter's general guide is to set your budget at a price that you are happy with. Even if you don't have the multi-million dollar company's marketing budget, a little can go a long way.
Conclusion
The cost of your Twitter ads will vary based on a number of factors, including the strategy you use, the billable promotions, and the types of ads you choose.
Depending on the size of your brand, not all Twitter advertising options are ideal for every business.
A small business on a budget is unlikely to want to spend large amounts. In contrast, a company has a sizeable marketing budget and is willing to spend a lot more.
With no minimum spend and the ability to target audience, Twitter ads can be a useful tool for gaining visibility and promoting your brand.
Are Twitter Ads Working For You? What strategies do you use?
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