Reddit is a top-10 global website by traffic and visitors. It is a n online and open forum where everything and anything can be discussed. The platform handles over 1.2 billion visitors. This is why your business cares about Reddit. However, advertising on Reddit is different than advertising elsewhere because Reddit is a structured community. Advertisers often find that advertising that works elsewhere online is violently shut down by Redditors (the name for Reddit users).
On the flip side, there are targeting opportunities available on Reddit that aren't available anywhere else. For example, Reddit is organized into individual forums with a specific topic (called subreddits). Looking for people who love brown rabbits? There is a forum for that. Looking for people who don't like chocolate? There is a forum for that. So beyond the standard demographics targeting you can get really specific by identifying target Reddits.
Here's the AssetLab Academy suggested process for Reddit Ad development:
- Find 15 subreddits with the people who want to buy what you are selling and have more than 10,000 followers
- Take a selfie from the neck up and size it 75x75. Use the flash. It needs to be clear without redeye. This is your ad image.
- Proceed to https://www.reddit.com/advertising/ and click "Create an Ad". Now you're going to enter the title for the ad. It should be almost 300 characters, include a personal appeal, and some sort of discount code. We suggest the link type if you have a website that converts well since a click goes straight to the website.
- Set the ad to run for 1 day, we like starting on a Thursday due to sales volume. Keep the spend low and target the subreddits you identified in step 1. Here what it looks like:
- Now, repeat the creation process for the other subreddits
- When the ads run, measure the ROI of each ad including: spend, clicks, cpc, sales, ctr, sales multiple (sales divided by spend)
When you having a winning ad (CPC < .5 and Sales Multiple > 2) you want to re-run that ad and increase spending to get more exposure.
If CTR is low and sales multiple is good, try a new title.
If CTR is good and sales multiple is too low, you need to make the offer or coupon more compelling.
If CTR is low and sales multiple is low, throw the ad away and focus on other ads.