For the Money, This is Your Best Bet for a Smart Digital Advertising Spend
We’ve always been big believers in the importance of strategic, paid digital ad campaigns. First off, organic search is essentially dead and it’s the best way to ensure your business gets in front of the right people at just the right time. Secondly, whether you’re dealing with Google AdWords or paid ads on a major social channel like Facebook or Instagram, it gives you the added benefit of being a solid SEO booster, too.
The trick, of course, is to first produce highly effective creative, then place it where your core target audience’s attention is… and finally, make sure you’re getting those eyeballs for the best possible price. That third aspect is where we’re currently finding a massive disparity between necessary ad spend to reach 1,000 consumers – the critical “CPM” (cost per thousand) metric – between the top players, Google and Facebook (which includes Instagram).
Can you guess which one is more affordable and just as (if not more) effective?
We’re tracking a client now that’s paying almost $150 CPM on Google vs. $8 CPM on Facebook. Let that sink in for a second.
And this is not remotely because Facebook has lost any of its potency as a marketing platform. There are still over 2.2 billion monthly active users on Facebook and 1 billion on Instagram.
Sure, Facebook works better as a top of funnel branding tool, but when that’s mixed with remarketing campaigns and highly effective websites, it can become a key driver of business. And while there are some businesses that still have to spend a large sum of Google to be sure they’re in the mix, especially restaurants and large retailers, for the average small business, we suggest focusing on the underpriced platforms first and capitalize…
… Because the Facebook ad cost will not be this way forever. In fact, the demand has led to a recent increase in price. Couple that with the recent news from the Verge that Instagram may well be releasing a standalone app dedicated to shopping, which may well increase the investment necessary to make a splash on Instagram, too, the clock is ticking.