Super Bowl LII just took place this previous Sunday (Feb 4th) and it’s well known that the cost of running an ad during the commercial breaks is outrageous. According to a report from Kantar Media, “the average cost of a 30 second super bowl ad in 2017 hit an all time high of $5.05 million.” Moreover, this is a huge investment that some organizations seem willing to make, but does it really pay off in the long run? Listed below are some other ways a $5 million budget could be spent from a digital marketing approach, and an article from Digiday provides beneficial statistics.
Facebook’s ability to reach a wide and relevant audience should never be underestimated. The social media giant is right up there with Google in terms of total ad revenue generated and efficient targeting capabilities. Digiday estimated that a $5 million dollar budget on Facebook could “reach up to 113 million people and generate 450 million impressions over a week long campaign.” Therefore, if managed and executed correctly $5 million worth of advertising on Facebook instead of television has the potential to reach a wider and better audience.
In conjunction with Facebook, spending $5 million worth of advertising on Instagram could also be rewarding. Digiday also reported that “Instagram video ads cost per thousand impressions typically ranges from $2 to $3.” So with a $5 million budget, it’s estimated that “2.6 million impressions and a total of 260 million video views could be generated.” So just like Facebook, Instagram is another avenue that organizations may want to explore for their future super bowl ad budgets.
Depending on your business model and what industry you’re in, putting ad money towards online retail giants like Amazon may be an option. There’s always the chance that viewers will miss television ads for bathroom and food breaks, so why not invest in a form of search advertising? Digiday found that the “cpc for Amazon search ads is usually around $2, so with a $5 million budget that could result in 2.6 million clicks.”
Reaching out to social media influencers with hundreds of thousands or millions of followers may be a route to consider with a large marketing budget. It’s reported that a “major influencer with over 100,000 followers would typically charge $3,000 per post on social media.” Digiday provides an example of Selena Gomez and how a $5 million budget has the “potential to reach around 173 million people, which is 62 million more than those who watched the 2017 Super Bowl.”
If implemented correctly, advertising on Snapchat can be an effective strategy to reaching millions of individuals in your target audience. It’s estimated by Digiday that $5 million worth of ad spend on Snapchat could buy around “29 Snapchat lenses, which is more than four weeks worth of advertising.” It was also noted that with the Discover video ads, $5 million could earn your organization “433 million to 650 million impressions.” Ultimately, it may be overlooked but running paid advertisements on Snapchat may turn out to be a cost effective way to reach a relevant audience.
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