You may have a small business with a limited budget or a larger business that has earmarked a little more for your online advertising strategy. This quick guide provides insight into the average advertising cost on Google and Facebook, the two major avenues to reach your clients online.
Average Advertising Costs on Google Ads
As you are probably aware, Google is the most used search engine in the world. Therefore, it makes sense that Google Ads is the largest digital ad platform. Let’s take a look at what it costs to get your business in front of Google users.
Most industries have low costs when it comes to pay per click display ads. However, there are exceptions. For example, employment services pay an average of $1.66 per click. Compare that to real estate professionals who pay $0.88 per click.
Google Ads charges between $1.00 and $2.00 for each click. For small businesses, Google Ads cost about $9,000 per month (or $90,000) on the low end of the spectrum.
However, there’s no requirement to start that big. You can create a successful ad campaign on a low budget, but it helps if you know what you’re doing. Some SMBs turn to experienced digital marketers such as Big Bold Thinkers to maximize the impact of each marketing dollar.
Advertising on Google Display Network costs less than ads for Google’s search engine. Advertisers pay an average of $0.58 per click on GDN. However, costs vary by industry, so research what Google charges in your sector to determine if this is a good alternative for your business.
Average Advertising Costs on Facebook
People love Facebook, the most widely used social network. So, it’s also a great place to advertise your business. With the right strategy, Facebook advertising is an affordable way to reach your target audience. In fact, small businesses often focus on Facebook ads in their online advertising strategy.
You can expect to pay an average advertising cost of $1.72 per click to drive traffic to your website. Alternatively, businesses pay an average of $7.19 per 1,000 impressions or CPM. These costs vary by industry, location and other factors. As a rule of thumb, plan to spend about $0.75 per click or impression.
Facebook ads help your organization increase brand recognition, website conversions, and application downloads. However, it only works if future fans actually see your ads. Big Bold Thinkers can help you estimate the costs in your target areas so you can spend your ad budget effectively.
Facebook advertising also gives you access to Instagram and Messenger. Facebooks’ CPC is still relatively low across most industries. The most expensive industries include finance, home improvement and customer services.
Help for Your Online Advertising Strategy
If you need help with your online advertising strategy, Big Bold Thinkers can help. Our digital marketing services include budget, planning and executing an online campaign for your brand. Contact us today for more information and to discuss how we can propel your company forward with the power of effective online advertising that fits your budget.