Reddit Ads are great for advertisers who want to target very specific user groups with a common interest or theme. Reddit is used regularly by a segment of the population to find specific information on themes; you know anyone within a particular subreddit community is interested in that topic. This type of targeting is far better than trying to categorise based on age, gender or location.
Reddit works best in certain countries; almost half of users are based in the US with another 30% made up of Canada, the UK, Australia and Germany (based on reddit.com traffic data in May-July 2023).
It has a strong focus on gaming, and this might partially explain why over 60% of users are male.
The secret to successful Reddit advertising is very engaging and subreddit community-specific content and ads. You need to first research relevant subreddit communities, then write the ads and content for them. Once a user clicks on an ad they are directed to a landing page which should follow on from the ad they have seen. To capture leads this needs a relevant offering a form that the user can fill in, or multichannel tracking to try and identify the user from other sources.
Measuring of Reddit ROI is best done by tracking leads or qualified leads or sales and comparing with ad spend. To manage and optimise the Reddit ads interim measurements such as impressions, clicks, CTR (click through rate) and conversions (form fills) are helpful.
The use of Reddit as an advertising platform has grown substantially in 2023 after numbers of people using Reddit increased, partly from some good PR in publications such as the Washington Post that suggested this an alternative to Google. However total numbers of users are still a small fraction of those using Google.
Alternatives to Reddit ads of a similar size are Quora ads or Pinterest Promoted Pins which are very effective for some consumer products.
A question we are often asked is which advertising platform is best? This depends on your audience and on your budget. It takes time to setup and manage Reddit ads, so this requires a significant advertising spend. This is a channel to investigate after you have campaigns setup on Google Ads, Bing and either LinkedIn or Meta.