With the ever changing newsfeed one thing has become apparent, to stay in front of your audience you need to set aside ad dollars. Let's get down to it - so how much is it going to cost?
1. Industry matters.
If you're B2B plan on spending between $1 - $3 per engagement. If you're B2C cost per engagement will most likely run you $.30 - $60. I often say the more "fun" your business is (think food, spirits, fashion), the less money you'll need to spend.
2. Networks matter.
Whether you are B2B or B2C, Facebook tends to be the most cost efficient when it comes to social ads, followed by Twitter and then LinkedIn. This has held consistently true no matter what the industry. Facebook also allows integration of Instagram with its ad platform, so you can target two networks at once.
That said, if you can't find your audience easily through Facebook targeting, it may be worth spending the extra money on Twitter and LinkedIn. At the end of the day you want your message to reach the right people, even if that means fewer people overall.
3. Goals matter.
What's your ask? If you want people to click to an external website you'll probably pay more. If you want people to commit to liking your page versus liking a boosted post you'll also pay a slightly higher premium. The larger the "ask," the more you'll need to budget.
4. Reach matters.
Like any traditional ad buy, the more people you want to reach, the more it will cost you. I recommend a minimum $50 a month ad buy to clients. This allows you to boost two posts a week at $5 reaching around 1,000 - 3,000 people based on your targeting goals.
Social ads are accessible, easy to create and a must in today's world of social media marketing. Make sure you carve out budget to support your content, otherwise you may be talking to yourself.