Reddit ads are seriously slept on, the targeting is insanely focused
Why Reddit ads work
I feel like Reddit ads do not get nearly enough attention. They are CRAZY good for reach.
On most platforms, you build an audience using broad interests, demographics, and behaviors. Then you hope the algorithm eventually puts your ad in front of the right people, then of course their are bots, and most of your budget ends up going to waste.
Reddit makes this much simpler because your ideal customers have already organized themselves into specific communities. All the hard work is essentially done for you.
How to choose the subreddits
Start by finding the subreddits where your ideal customers already spend their time.
Look for communities where people are:
- Discussing the problem your product solves
- Competitor subreddits (Yes, you can literarily just pick them)
- Asking for recommendations / how to
- Sharing their frustrations and experiences
These people already understand the problem. You do not need to spend as much time convincing them that the problem exists. You simply need to consistently put your product in front of them and show them why it is relevant.
Organic marketing is great, but it's not scalable
Organic marketing is great for building trust, but it is not always the best way to generate reach.
You can spend months creating content and still reach only a small percentage of your ideal customers. Paid ads allow you to reach a relevant audience much faster and more consistently.
A strong strategy is to use organic content to build credibility and paid advertising to expand your reach. Why do you think all of these people selling cources / how to get rich get SOOO many people? They are using crazy amounts of capital / profits to reach more people. Same thing with SAAS that has BIG investor funding. They may spend $100 dollars to get one customer who pays $10/month, this is who you are competing with.
You need a realistic budget
Advertising requires testing. Your first ad might not work, so you need enough money to test different communities, messages, and creative ideas.
If your business cannot fund that testing yet, you may need another source of income. That could be a job, freelance work, consulting, or a separate service.
There is nothing wrong with using another income source to fund your business while you figure out what works. Just make sure you are only investing money you can afford to lose. Your essential expenses should always come first. Please... don't use credit cards and think this will just make you rich overnight.
How to retarget interested people
Use Reddit ads to introduce your product to people in relevant communities.
Once someone visits your website, you can retarget them with Facebook ads. They are no longer seeing your product for the first time, so your Facebook ads can focus on benefits, reviews, results, and reasons to buy.
Reddit creates awareness. Facebook keeps your product visible and helps turn that awareness into sales. If you're going to run JUST reddit ads, you're already doing it wrong. It takes people many different times points of touch to buy.
Our current case study (SAAS industry):
Reddit daily Adspend: $100
User sign ups: 20-22 users
Facebook retargeting: $25