Quora was launched in 2009, but the self-serve Ad Platform rolled out in 2016 only. After working aggressively for a couple of years and launching new beta ad programs now it is slowly becoming one of the most targeted online social ad platforms. However, compared to Facebook, LinkedIn, and Instagram, Quora ads are still far behind.
It is beneficial to advertise on Quora for various reasons like it offers access to both social data and searches intended for better targeting. Plus, the platform receives a lot of qualified organic traffic, which can be yours if targeted well. Also, any advertiser can run ads on Quora as long as the company adheres to its advertising policy guidelines.
So, how much do you need to spend on Quora ads? I will discuss every aspect of Quora ads in detail to know how much Quora ads cost.
Pricing of Quora Ads
Quora Ads offers a live auction system to set ad costs. It is done in a way like any other auction system. The two brands willing to take the same ad spot, have to bid for it. Every advertiser bids higher prices until one wins the spot. The winner will pay the final amount to get the ad placement.
The closing bid amount is based on three primary factors – competitive landscape, your targeting selections, and the platform you want to use to run your ad. I will discuss platform selection in the later segment.
Therefore, if the competition is less for specific ad placement, the ad spot will most likely be cheaper.
Related: Top Google Ads Statistics
Types Of Bidding On Quora That Decides How Much You Pay For Quora Ads
Quora Ads offers three bidding options for now:
Bid methods are available on the Edit Ad Set pages.
These advertising methods give advertisers a clear idea about how their ad money is spent. Hence, they can control the investment and prevent the wastage of money.
Here is the explanation of each bidding type:
1- CPC (Cost Per Click) Bidding
In CPC bidding you bid for the cost per click a user will make on your advertisement. Hence, you have to pay only when someone clicks on your ad and the cost will never exceed your CPC bid.
The bidding price for CPC starts from $0.01 and can go up depending on the competition for a particular ad placement.
2- CPM (Cost Per 1000 Impressions) Bidding
The CPM bidding is for a specific number of impressions. Here, an impression means the number of times the users see the advertisement. Once an advertiser wins the CPM bidding, he is charged on a per-impression basis.
The number of clicks on the ads doesn’t matter in CPM bidding. It is just that the audience should be able to see the ad in the feed in some way. In nutshell, the CPM bid is the maximum price you pay to generate 1,000 ad impressions on Quora.
CPM bidding is highly useful to advertisers willing to create brand awareness on Quora for their new product and upcoming webinars.
The bidding price for CPM starts from nearly $0.20 that might go higher based on the level of competition for particular ad placement.
Related: Best Native Ads Networks
3- Conversion Optimized Bidding
In conversion optimization bidding, you bid for ads that are visible to people who are most likely to convert after clicking the ad. For instance, if you advertise your app to install and opt for “Optimize for App Install conversions”, the ads will be visible to users who are most likely to install the app.
Hence, you bid to pay charges on a per-impression basis like CPM, but the difference is that here you optimize your ads for the most valuable customers.
Related: Marketing Agency Directories To Get You The Best Leads
How Much Does Quora Charge For Different Ad Formats?
Quora offers three different ad formats to run on its platform – image, text, promote an answer and lead gen forms. Choose any format and the price Each advertisement appears with “Sponsored” written at the top. Let’s know them one by one:
How Much Does Quora Charge For Text Ads?
Quora text ads would cost a minimum of $5. Rest, it depends on the bidding format, competition level, and targeting factors.
Text ads format is very simple. A straightforward headline followed by a description is more than enough to catch the audience’s attention.
How Much Does Quora Charge For Image Ads?
The image ads on Quora would cost $5-$7 per click depending on the bidding format you select for your campaign.
Quora image ads appear along with the advertiser’s company logo and headline at the top. The ad description appears below the headline. An image ad is displayed after the headline.
Related: Headline Writing Tips For Beginners
How Much Does Quora Charge For Promoted Answers?
Quora doesn’t charge to promote your answers.
Quora presented itself as a community for sharing questions. Hence, a lot of companies leverage this strategic idea to win new customers on Quora for free. Here, the advertiser markets any of their answers to a targeted audience and grabs their attention.
How Much Do Lead Gen Forms Cost On Quora?
The lead generation forms are priced per lead. For instance, if you earn 100 leads and it costs $1000, the cost per lead would be $10.
These forms are usually an extension of Quora ads that incorporates your company logo. By filling the form, customers securely share their information on Quora. After submitting the form, the advertisers can also take the prospects to an off-site landing page. This way the visitors become your lead.
Related: Augmented Reality Ads: The Definitive Guide
This is how the Quora ad formats look like:
Is The Quora Ads Pricing Different For Mobile Or Desktop?
Quora displays your ads on both desktop and mobile. Each platform has different pricing.
Desktop auctions are costlier and it is often chosen by companies with big-budget who target the corporate audience.
Small businesses can go for device and browser targeting. In this option, the advertisers have the freedom to choose the device types, the specific mobile platforms (iOS or Android), and browsers, where they want to display their ads.
Quora Billing
By default, Quora generates its bill when your charges for running your ads touch a specific threshold.
The first threshold is $25, which is followed by other thresholds, which are $50, $250, $500, and $750. Quora charges the advertisers either when they hit their existing billing threshold, or on the month’s first week, whichever comes first.
If you want your bill invoiced on a monthly basis, you get it done after meeting with Quora Customer Success Manager.
Paying Quora is easy as it accepts all debit and credit cards.
Summary
Quora is a platform that represents solid opportunities for those looking for quality customers. However, to do well in Quora Ads, you need to invest a good amount of time in research work and ad setup.
To begin with, use Quora Pixels to build the audience first and then go for ads. Using small tests, you can expand your reach and make your ads more visible to a broader audience.
The guide above on Quora pricing will help you to begin with spending on Quora. Get started today to get the most out of this successfully emerging ad platform.
