As an e-commerce business, you need to keep a check on your ad spend to be on the safe side. You cannot and should not exhaust your capital on advertising or marketing. And considering the different costs of ads on different platforms, it is wise for you to choose the right marketing channel.
After all, and as said, your goal is to keep your investment minimal and your ROI maximum.
But is that always this simple? No.
Worry not, however, because in this article you’ll get all the answers.
What marketing channels to invest in?
When you think about digital marketing, all the internet giants come knocking on your door. And since we’re talking paid marketing here, the following are some of the advertising media you should think about.
1. Google ads
PPC ads make the larger chunk of any search engine marketing. When you pay a search engine, let’s say, Google its requisite price, you become eligible to be showcased above the SERPs. This way, visitors get to see you first, and then, they find organic results.
On average, in 2018, companies spent about $1.16 on Google ads. In 2019, this was about $106 per month, and this year, too, the stats are similar.
However, this estimate ignores the costs you’ve to meet when hiring a digital marketing agency.
2. Facebook ads spend
Facebook Ads have gained popularity over the years and that is evident from their ads revenue. In 2014, it was around $5.29 billion, which increased to $14.89 billion in 2018, and this data only shows their revenue from the US.
When you integrate Facebook Ads with Google Ads, the results can always be surprising. You can get a lot of ROI. However, keep in mind that the average CPC depends on your location.
For example, in Norway, it is around $2.7, but in Kazakhstan, it is only $0.69.
With considering Facebook Ads spend, you should also consider investing in those ads that really convert. Facebook Remarketing and dynamic product ads are some of the areas to target.
3. Instagram Ad Spend
In Q3 2019, the ad spend on Insta grew by 70%, which indicates the importance of targeting the users of this platform.
However, as an eCommerce platform, you should ponder upon the costs before going for placing the actual ads.
One thing that should guide you is that with the increase in ad spend, there’s been an increase in competition as well. So, for a larger part, you’d have to divert your funds here more than anywhere else.
You could meet CPC costs ranging from 20c to $2. And these don’t even include the external costs you’d incur, for example, in hiring Instagram professionals or influencers. Generally speaking, as compared to ad spend on actual Instagram ads, spending on influencers is always more.
4. Email marketing ad spend
Email marketing completes any eCommerce marketing strategies. And these convert more than any investment anywhere else. That’s because emails are personal and when you send emails to your prospects, you do not expect any comment, like, or other reaction to influence their decision.
The costs of email marketing, for that matter, include spending on email platforms like MailChimp ($199+ per month after free version), ActiveCampaign ($17 to $299 per month), and others.
It also includes paying copywriters to come up with good copies for your emails – words that can convert. You can expect to pay $100 to a renowned email copywriter.
Other costs to consider in this regime are design costs, which come with the email marketing platform you subscribe to and email app costs such as KickBox and NeverBounce.
So, all in all, these are some of the ideal marketing budgets to consider. Of course, how much you intend to spend depends on your motives. But no matter what you do, always consult with an experienced digital marketer to get things right.