Social media advertising is a great way for businesses to reach potential customers, especially young people. But, reaching audiences on one popular social media network probably costs advertisers a lot more than you think.
Snapchat is an app that lets users send out temporary photo, video, text and drawing messages to others that disappear after the preset time limit is up. The social media network started hosting advertisements last fall and advertisers are claiming it costs $750,000 to advertise for just one day!
That's a lot of cash. The cost falls somewhere between a television advertisement during American Idol (about $475,000) and the Super Bowl (about $4 million).