For many years, many brands have gotten customers from different social media pages and have grown their products. But now many brands are not getting a lot of customers from those social media apps. Customer habits have changed and now you cannot attract customers by only advertising on Instagram and Facebook. Apple IOS has added some changes about how an app can track customer behavior, brands are not able to attract many customers and it is also costly to do so.
Now brands are not advertising only on Meta platforms. They are also trying out new platforms like TikTok but it has some of its own challenges too. Many DTC (Direct to Customer) brands used Meta to promote their products but now they are measuring how effective their marketing can be by customer acquisition cost (CAC) but it is not being easy.
Many platforms do not even have conversion data and cannot share CAC data with brands because of this. Brands have to work extra hard to use new ways of marketing to attract customers. Some brands are also using cost per order (CPO) and return on ad spend (ROAS) to measure data. Measured, an ad measurement firm, tracked 150 brands in Q2 of 2024. It used CPO to measure the ad costs. According to its findings, the cheapest platform for brand advertisement is Snapchat with $64.31 needed to acquire a customer. It is followed by Meta ($83.16), Pinterest ($92.40) and TikTok ($139.58). Reddit is the most expensive platform which can cost $158.96 to brands. 79% of the brands ran ads on Meta in Q2 of 2024 while only 12% did it on Snapchat. 47% of the brands ran ads on TikTok while 5% of them did it on Reddit.
Even though TikTok’s cost per order is higher than other platforms, advertisers are also seeing good ROAS on the platform. TikTok also launched its online store called Shop in the USA last year and it is getting popular among young people. This shows that TikTok is a favorite among brands for advertising their products while Meta is close second. Advertisers should also try advertising their brands on Snapchat.
Read next: Global Mobile App Consumption to Exceed 58 Trillion Hours, Revenue Reaching $2 Trillion
Now brands are not advertising only on Meta platforms. They are also trying out new platforms like TikTok but it has some of its own challenges too. Many DTC (Direct to Customer) brands used Meta to promote their products but now they are measuring how effective their marketing can be by customer acquisition cost (CAC) but it is not being easy.
Many platforms do not even have conversion data and cannot share CAC data with brands because of this. Brands have to work extra hard to use new ways of marketing to attract customers. Some brands are also using cost per order (CPO) and return on ad spend (ROAS) to measure data. Measured, an ad measurement firm, tracked 150 brands in Q2 of 2024. It used CPO to measure the ad costs. According to its findings, the cheapest platform for brand advertisement is Snapchat with $64.31 needed to acquire a customer. It is followed by Meta ($83.16), Pinterest ($92.40) and TikTok ($139.58). Reddit is the most expensive platform which can cost $158.96 to brands. 79% of the brands ran ads on Meta in Q2 of 2024 while only 12% did it on Snapchat. 47% of the brands ran ads on TikTok while 5% of them did it on Reddit.
Even though TikTok’s cost per order is higher than other platforms, advertisers are also seeing good ROAS on the platform. TikTok also launched its online store called Shop in the USA last year and it is getting popular among young people. This shows that TikTok is a favorite among brands for advertising their products while Meta is close second. Advertisers should also try advertising their brands on Snapchat.
Read next: Global Mobile App Consumption to Exceed 58 Trillion Hours, Revenue Reaching $2 Trillion
