Like every other small business, companies in the food sector want to lower costs. One way to do that is to be smart when spending advertising dollars.
New research by Condiment Marketing, an Aurora, Colorado-based firm, provides detailed information on food marketing costs in 2016.
According to the infographic below, online advertising and local marketing provided maximum opportunities for customer engagement.
Food Advertising Statistics
2016 Food Marketing Costs
The report reveals a full-page print ad in a leading food magazine may cost in the range of $2,055 to $8,379. Web advertising in the same magazines ranges from $2,500 a month to $105 CPM.
As far as local marketing is concerned, the research provides a comparative analysis.
Using Denver, Colorado as an example, it shows businesses spending $1,000 a month on Yelp will be exposed to 10,000 of the review site’s users in the area. The Denver Post, on the other hand, will cost a minimum $500 a month for online advertising. Cost for a full-page full-color ad in the Sunday full circulation edition will cost $8,430.
Online Advertising Costs
Social media is of course a channel no small business can afford to ignore today. The report shows Instagram ($5.68 CPM), Facebook ($6.28 CPM) and LinkedIn ($2 CPM) are the most viable means to promote food businesses.
In 2016, food businesses also spent money on Google Adwords. For average cost-per-click (CPC) on the search network, they spent $2.32.
For the study, Condiment Marketing researched media kits published by media sources.
Check out the food advertising statistics in the infographic below for more information.
Image: The Condiment Marketing Co.
Food Advertising Featured Photo via Shutterstock
The food business is growing but so is the competition. Now, there are so many options to choose from and that means that advertising can get quite aggressive as well.