Could Reddit Ads Be Social Media's Best Kept Secret?
Hellooooo?? Has anyone reading this run a Reddit campaign before? If you answered yes, please get in touch! I launched my first Reddit campaign last week and am eager to compare results and learn how to master the platform.
While I can’t quite answer the question “could Reddit ads be social media’s best kept secret?”, I can say that I was thoroughly impressed with the user data and performance expectations I squeezed out of my Reddit Ad Rep last week.
I compiled all the “must-know” information into the following blog post. Now all of y’all can learn a little more about the platform too!
What is Reddit?
If you don’t use Reddit, the platform can seem like a bit of a scary beast...and in all honesty, it is. Reddit is a very bare-boned archaic looking website that seems to have been built in 1982. Reddit users are known to be aggressive, never afraid to downvote your post or call you out for a “stupid” comment (be warned).
Reddit is the birthplace of AMAs (ask me anything forums) and a place for viral content and open forums to discuss literally (and I mean literally) anything and everything.
What are Reddit ads?
A Reddit ad looks very similar to a regular Reddit post except for the “promoted post” label, which tells users it’s a paid piece of content.
If you’re looking for a social media platform to waste away on, one that won’t steal your personal data, then Reddit is it. Reddit doesn’t have a whole lot of (if any) demographic data on their users. It makes the platform truly fascinating, only asking the user to provide their email upon sign up. Your username is up to you, they won’t ask your age and don’t directly know your location.
Ads on Reddit can be targeted by either subreddit or interest. When targeting by subreddit, you are targeting the subscribers of that particular subreddit and users who have recently visited that subreddit. When targeting by interest, you are targeting users who have recently engaged with content related to a specific topic. For example, a user who engages with a post related to sports will be shown sports ads for a period of time. As a user spends more time on the site and views different content their interest categorization will change in response, ensuring all ads are relevant to that user.
According to Alexa, Reddit is the 5th most trafficked website in Canada after Facebook (#4) but before Twitter (#7). The website has the highest time spent of ANY website listed in the top 50 (okay, wow!) sitting at an average daily time spent of 11 minutes and 60 seconds!
Minimum Ad Spend
Reddit does have a minimum ad spend, but only if you require a designated advertising rep. This is someone who will help build your campaigns, make recommendations, etc. If you don’t spend the minimum $5K, you will have to go the Reddit advertising journey alone. Luckily, my spend was above the threshold so I had someone holding my hand the whole way...they even put together my target audiences for me!
Reddit ads only run on a “cost per 1,000 impression” (CPM) basis. This means that you pay for every 1,000 impressions received. The expected CPMs range between $2 and $5.
My advertising rep claims that Reddit will be releasing a CPC bidding system later this month.
You Can Promote Videos Too (but it ain’t cheap)
Yes, Reddit has the option to run video ads, also on a CPM basis. But, and this is a big BUT, you must have a minimum $50K to spend. Reddit claims that they will remove the minimum spend for video ads...but exact timing is TBD.