It totally depends, but on average their cost per click can range between 0.09$-0.15$.
With an evident cost per thousand (ECPM) coming in at 0.15-0.17$.
However, don't be fooled.
Reddit Ads are totally worth it from a cost per click perspective but are slightly more complicated in terms of copy & offer.
Redditors are highly difficult individuals to say the least.
Pairing Redditors with a bad offer, and allowing comments on the ad will likely give you what I like to call a "Reddit Sh&tStorm".
Example can be found below:
Reddit Ad Gone Wrong? 👆
What we see in the image above, is an advertiser trying to advertise on Reddit just like he would on Instagram & Facebook which is a major NO-NO.
I mean sure, maybe their ad set is actually converting considering the fact that they've had it around for approximately a year now but it's still garnering a ton of negative PR.
TLDR: The slightest hint of scam/bad product or service will cause Redditors to eat your ad alive.
Reddit ads I've personally seen perform well include ads promoting gaming, gaming accessories, productivity apps, actually GOOD & USEFUL SaaS apps, etc.
Ads offering things that Reddit's demographic would want.
To understand this better, it's best to look at Reddit's demographic as a whole, which we will do below, and then actually study the subreddits you're looking to list your ad in to see if it fits their buyer persona.
38% of Users are Technology Enthusiasts
According to Comscore, 38% of Reddit users consider themselves technology lovers, more than any other social platform like Facebook or Instagram. With this, it shows that Reddit is the place to be for relevant conversations around technology.
47% of Redditors Love to Buy Technology
According to a recent study, 47% of redditors have bought consumer electronics and are 98% more likely to be tech high-spenders (more than $1,000 in 6 months).**
26.4 Million Americans Use Reddit Monthly
In the United States, 26.4 million people are using Reddit monthly. Since they were founded in 2005, Reddit has continued to grow their user base. eMarketer defines someone as a user if they have an account and log on at least once a month. However, it’s important to note that the website is not limited to those that have logged on. Anybody can read the news, watch videos and discover subreddits, so the reach can be even higher than anticipated!
42% of Internet Users 18-24 Use Reddit
In a study from We Are Flint, they found that 42 percent of U.S. Internet users, between 18 to 24 years old, are using Reddit. This shows that Reddit is becoming popular with this age group and that it will only continue to grow in the coming years.
15% of U.S. Reddit Users are Male
As of February 2019, 15% of male respondents stated that they used Reddit. Whereas only 8% of females stated they use the website. Likewise, it’s safe to say that Reddit is popular with males, and although both datasets use the U.S., it can be expected it is similar around the world.
The aforementioned stats are pretty generic but give us a pretty good indication that Reddit is a primarily male-used, potentially US-dominated forum based platform with a pretty young demographic.
Which makes perfect sense considering the ads we've noted as performing best up to this point.
"Reddit ads I've personally seen perform well include ads promoting gaming, gaming accessories, productivity apps, actually GOOD & USEFUL SaaS apps, etc."
Now back to studying sub-reddits...
The biggest piece of advice I can personally give you prior to launching your Reddit ad campaign is to actually study/look at the top-performing posts & ads of the subreddits you're planning to place your ad in.
This will essentially allow you to craft an "insider ad" that's congruent with the style of the subs & Reddit as a whole, as opposed to the initial ad we've seen being ripped apart.
Another pretty good question we've been getting is:
Should I have my comments turned on for the ad?
My answer is, yes!
If the ad is bad, you'll know immediately...
If the ad is good, you'll also know immediately.
That's it for this segment guys.
Should you require assistance with you Reddit ads, feel free to book a quick 15-minute call with us.
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