Table of Contents
- Why should you pay heed to Twitter ads?
- Cost of Advertising on Twitter: Types of Ad Formats
- Additional Factors That Impact The Cost Of Twitter
- Are there some additional costs that you need to
- How Do You Measure Twitter Ad Performance? Twitter
- Finally: Let’s Help You Get Started With
Twitter is first and foremost a social networking website where users send and receive brief messages known as tweets. It’s also readily used to stay up to date with the latest news across the globe. When someone tweets, they are essentially sending short messages to their followers(and everyone else if you have a public profile) in the hopes that they will be engaging and beneficial. We may also term tweeting microblogging.
Twitter has recently been in much limelight due to the takeover by the richest man on the planet, Elon Musk. While the current popularity is unprecedented, it has always enjoyed a great hold over its dedicated audience.
Now, just like other prominent social media platforms, Twitter also offers the feature for advertising. In fact, Twitter advertising can be an excellent way to supplement your organic promotion efforts to generate more leads and conversions for your business.
If you want to learn more about Twitter ads, including the cost of Twitter ads, keep reading.
In this article, we will begin our discussion by talking about the importance of Twitter ads. We will follow it up by learning about the basic Twitter advertising cost for different ad types. Next, we will talk about some additional factors that affect Twitter promotion costs.
Later, we will talk about some additional Twitter ad costs to equip you with the most holistic information on the cost of Twitter promotion. Before wrapping up with the basic steps to start your Twitter advertising journey, we will discuss Twitter analytics. Let’s dive in.
Why should you pay heed to Twitter ads?
The ease with which Twitter can be scanned is its key selling feature. Hundreds of noteworthy Twitter users can be followed, and their content is read in a single glance, which is excellent in today’s attention-deficit society. Today, Twitter has 396.5 million total users, out of which 206 million are active daily. Despite it being a US-based company, about 75% of the total daily users are based out of the US.
Twitter may not be the most popular social media network when compared to Facebook, which has over 1.93 billion users, and YouTube, which has 315.12 million. However, because it’s often simpler to propagate your message through comments and retweets, it retains a lot of appeal as a marketing medium through Twitter ads.
Moreover, while Twitter lacks the reach of its main competitors, it does have a very engaged following that is enthusiastic and knowledgeable about the topics they care about. In addition to a significant active audience, Twitter also offers a range of paid advertising options for digital marketers and businesses to help them target their audience from their followers, promote their business or brand, and even automate the bidding process for ads.
And the best part is that Twitter offers paid advertising solutions for businesses of all shapes & sizes with their budgets.
Cost of Advertising on Twitter: Types of Ad Formats
The cost to advertise on Twitter depends on the type of ad one chooses from the options provided by Twitter. A user can choose from three different ad types, namely Promoted Tweets, Promoted Accounts, and Promoted Trends.
1. Promoted Tweets
Promoted tweets are nothing but the tweets that you have published already and are now using as sponsored content. It’s an excellent way for your brand to extract profit from the tweets that perform the best. These are tweets that you published on your timeline and then promoted to appear in the timelines of those who aren’t following your brand.
This enables you to reach a big number of people who you believe will be interested in your product or service. It increases the visibility of your tweet and draws more people to your page. This allows you to reach an audience that would otherwise be difficult to approach through organic means.
Promoted tweets work on the basis of a bidding system. Engagements determine how much your company is charged. Clicks, retweets, replies, and favorites are all examples of engagement.
How much does promoting a tweet cost?
Each initial action costs between $0.50 and $2.00 to promote a tweet. Every instance when a Twitter user clicks or retweets your replies to your promoted tweet, the average drops to roughly $1.35. As a result, Promoted Tweets are ideal for businesses looking to capitalize on tweets that are high-performing as is.
2. Promoted Accounts
Promoted Accounts are sponsored advertisements that promote an entire account to garner new followers and increase brand recognition. It promotes a user’s account to a large number of people who don’t already follow them but could be interested in it.
When you create an ad campaign, you can target a specific demographic to reach consumers who really are interested in your business and its offerings. These advertisements will show up in timelines, search results, and the suggested following section. These accounts are marked as “Promoted” to help users distinguish them from other accounts on Twitter.
Just as the promoted tweets, promoted accounts work on a bidding structure. The bid amount is determined by how much you’re prepared to splurge for every new follower.
How much does account promotion cost?
The normal cost for promoting an account on Twitter through a promoted account ad campaign ranges between $2 to $4 for each follower.
3. Promoted Trends
Looking on the left-hand side of Twitter’s newsfeed will take you to a bar that reads, “trends for you.” Here in this section, you will find the hashtags and topics that are actively trending on Twitter, either worldwide or based on your location settings. A significant number of these trends and topics are influenced by your personal preferences, the accounts that you follow, and where you live(as mentioned above).
You will first find all the trends that are promoted in the list of trends. To help the users distinguish these trends from organic ones, they’re labeled as “promoted.”
To be featured on the promoted trends list, you need to place bids, just like the ad forms we have discussed so far. The cost is the most significant distinction between promoted trends and other ad forms.
How much do promoted tweets cost?
Trends that are promoted cost $200,000 every day. This is generally not a viable solution for small to mid-sized companies. Larger organizations with a greater social marketing budget are more suited to use promoted trends.
Additional Factors That Impact The Cost Of Twitter Ads
The total cost of your Twitter ads is also influenced by several other factors. This comprises the types of advertising you’re running (as we just mentioned), your marketing strategies, your bid amount, billable actions, and the amount of money you have allocated for running social media ads, more specifically, Twitter ads in our case. Let’s look at these factors and try to understand how they affect Twitter advertising costs.
1. Auction Bids
The amount one bids is one of the key parameters influencing the cost of your Twitter ads. The highest bidder triumphs, just like every other auction. Your ad will be visible to your target audience even if you only spend a penny more than your competitor.
If you want to win auctions, don’t forget about one important part of bidding success: the quality of your ads. Twitter places much weight on ad quality. That is to say, the higher the quality of your adverts, the higher the engagement, and the lower your prices will be.
What amounts to “ad quality” for Twitter? Well, it means the ads that:
- Resonate with the target audience.
- Target the newest trends.
- Are relevant to the target audience.
2. Billable Actions
When you are advertising on Twitter, your total ad costs will also take into account the billable actions. Now, each individual who wants to run ads on Twitter will have varied goals for their ad campaigns. Therefore, the billable actions are always different for different individuals based on the billable actions they want their users to take.
You can get a better understanding of this concept with the following example. You might want more views on videos or seek more click-throughs for your site whereas another marketer might want to encourage more app installs or attract more followers.
Billable Actions include:
- Pre-roll views
- Views on videos
Note that Twitter has not set any specific rates for these actions. You will need to go through Twitter’s auction model and decide on your own how much you would like to pay. Twitter will charge you the amount you decide once a user performs any of the above billable actions.
3. Bidding Types
There are three bidding-type options on Twitter that you can choose from. These are Target, Maximum and Automatic bidding.
4. Target Bidding
You can choose your target cost-per-link using target bidding. It’s worth noting, however, that Twitter places a limit on its target bidding for site views and new followers.
You’ll build your campaign around your goals when you employ target bidding. For example, if you’re a well-established company, you might prefer to increase video views.
When you first start your Twitter campaign, you’ll be prompted to choose the price you want to spend for your target bidding. If you need help, Twitter will provide real-time Twitter ad pricing before you submit your bid.
5. Maximum Bidding
You set your highest bid for maximum bidding, in the same manner, you would for some other internet-based auction. You won’t have to spend your entire budget on each bid. You will need just enough to beat your closest opponent.
6. Automatic Bidding
It is the default option for bidding for ads on Twitter. You simply set the budget, and Twitter takes care of the rest. However, there is something to think about when it comes to automatic bidding. Although it may appear to be a good idea to leave everything to Twitter, you will quickly deplete your money. Therefore, be very mindful if you want to use this option or not.
Are there some additional costs that you need to consider?
You expect to pay for the expense of launching an ad campaign on Twitter when you run one. You may pay additional Twitter advertising charges depending on who manages your campaign.
1. An In-House Advertising Team
It will cost you the same as hiring an employee to maintain your marketing activities in-house. This includes expenses such as the salary and benefits you offer that employee or group of employees. This Twitter ad pricing aspect is one you should think about and analyze over time.
You may also use Twitter Promote Mode to boost your profile. The monthly fee for this mode is $99 USD. It’s a tool that takes care of your promoted Twitter adverts.
As long as your first 10 tweets pass the quality screening, it will promote them automatically. Businesses that seek a fully automated, always-on advertising solution can use this option.
2. A Freelancer
You can hire a freelancer in addition to hiring an in-house staff. Freelancers are often hired as needed to assist with your marketing. Some freelancers charge by the project, while the majority charge by the hour.
A freelancer’s hourly wage is frequently determined by their level of experience:
- $15-$50 per hour for three years or less of experience.
- $50-$100 per hour for three to five years of experience.
- $120+ per hour if you have five or more years of experience.
3. A Dedicated Agency For Social Media Advertising
Your firm’s campaign may also be managed by a dedicated marketing agency. You won’t have to manage a freelancer or handle your campaign.
The cost of hiring a dedicated advertising agency varies depending on the size of the organization and the number of social networks you require. Professional advertising agencies cost organizations anywhere from $4000 to $7000 per month.
While agencies are more expensive than freelancers, employing a social media marketing business relieves you of the burden of managing your campaign. You can concentrate on operating your business while experts handle your campaign.
How Do You Measure Twitter Ad Performance? Twitter Analytics
Measuring your important indicators, just like any other advertising campaign, helps you evaluate your return on investment. Only then can you determine whether you’re seeing positive results and expanding your business, or if you need to make some adjustments.
The Key performance indicators that encourage interaction, increase conversion rates, and the costs for you per click are the ones to pay attention to. That involves focusing on measures like CPCs(cost-per-click), CPFs(cost-per-flips), and CPEs(cost-per-engagement).
Twitter provides an analytics tool that can tell you how well your paid ads and organic methods are performing. You should always keep them in mind. You should modify your campaigns if your organic content performs better than your sponsored content.
All you need to do is simply go to your Twitter account and select “switch on analytics” from the drop-down menu. here you will be able to see:
- New followers
- Number of Profile Visits
Some other performance metrics that you should keep an eye out for include:
- CPF(Cost-per-follower): Your CPF requires no explanation: it displays the cost of gaining a new follower.
- CPC(Cost-per-click): You should monitor this metric to keep track of the performance of your billable actions.
- CPM(cost-per-mile): It calculates your conversion rate per 1,000 impressions.
- CPD(cost per download) or CPI(cost per install): This indicates the price of each installation. The average cost per install on Twitter is $2.53.
Finally: Let’s Help You Get Started With Twitter Ads
Now that we have learned every basic thing about Twitter ads, it’s time we help you start your journey with Twitter ads. You should follow these steps to start with Twitter ads:
1. Deciding The Budget
The first step is to establish a budget. This is a crucial step at the beginning of any marketing effort. If you want to execute a winning paid ad campaign, you need to know how much money you have to spend.
You should examine your whole social media marketing budget to see how much money you’re allocating to various techniques.
2. Determining Campaign Goals
After you’ve established your budget, the next stage is to select your campaign objectives. What are your objectives for your social media marketing campaign? It’s critical to know what you want to accomplish in order to plan a successful campaign.
It may be gaining more followers, increasing interaction, increasing website traffic, increasing video views, increasing app installs, or something else entirely.
3. Decide the bidding amount
We know that Twitter, like other prominent social media platforms, works on a bidding system. You should be very clear about the bidding strategy that you want to adopt for your ad campaigns, and thereafter, you must decide the best bidding amount.
4. Select the Tweets
The next step is to select the tweets that will appear in your advertisements. If you want to make a good first impression on your audience, select advertising that will increase brand awareness and generate new leads for your company.
You can use an existing tweet or make a new one only for your ad. beIt’s up to you to figure out which form of advertisement will best suit your campaign.
5. Decide and Set Your Target Audience
You can target people on Twitter based on demographics, age, region, gender, language, and other variables. You can even target people depending on their location, such as their country, city, or postal code.
You may also add your own contact list. This list can be used to retarget people who are already interested in your business or to establish a target audience that is comparable to your current followers.
6. It’s Time To Launch The Campaign
You are all set to finally launch your campaign once you’ve established all of the perimeters we have just discussed. Once your campaign is live, you can start tracking its success using Twitter analytics to see how you can improve it. This will assist you in getting better outcomes from your Twitter ad campaign.
We hope that this article will be a great starting point, and a comprehensive guide to help you understand the pricing and the overall structure of running ads on Twitter. We have covered everything right from the various costs, analytics, and the steps to begin your Twitter ad journey.