Social media is the fastest growing trend in the history of the world. Facebook alone hosts over a quarter of the world’s population, with more than 2 billion monthly users. This means that 1 in 4 people use Facebook, which is truly staggering.
In fact, Hootsuite claimed that people are spending more time on social media than they are watching TV – showing just how important social media advertising is.
As such, it’s clear that advertising through social media is the way forward. It can be very effective as it’s possible to target the exact audience you’re after, resulting in better conversion rates than many other advertising methods.
There’s a lot to figure out surrounding social media advertising. How much should I spend? Which platform is best for my business? Here’s how to get started.
What can social media advertising help me accomplish?
Social media is great for building brand awareness. It allows you to really show off your personality and engage with your target market. Ensure to post engaging content that your target market will find valuable!
Paid social media advertising usually aims to drive visitors to your website. Once people are on your website, you ideally want them to purchase, right? Make sure you’ve got the right tools in place to capture this traffic and turn them into leads and paying customers.
The current problem for businesses using social media, however, is that most platforms have reduced organic reach. Years ago, businesses could build a following across social media channels pretty easily. Today, most of the platforms are making it increasingly harder for this to happen. Organic reach is down, meaning that less and less people will see what you post.
This is completely intentional. As organic reach goes down, ad spending goes up.
Remember, social media platforms are businesses. They want you to spend money on them. As a result, it’s becoming increasingly difficult to get your content in front of people and content marketing efforts can often go to waste. Businesses are beginning to need to spend more money on social media advertising in order to get their content in front of their audience. It’s now a pay to play game.
Which social media platform should I use?
Most businesses will choose Facebook as their first social media platform – it’s the most used platform and therefore has great potential. However, you need to find out where your target market hangs out online in order to effectively reach them.
Given Facebook’s huge user base, you can see that advertising on this platform could be highly effective. However, Facebook’s organic reach is particularly awful, making it difficult to advertise to your target market without spending money. On the flip side, Facebook makes it incredibly easy to drill right down into your target market and send ads to a very specific audience.
Twitter is best used if you’re able to generate discussion with your audience. Twitter is an incredibly social platform where consumers and brands communicate with each other. Twitter ads are generally a little more expensive than Facebook, but this extra spending is worth it if your target audience is very much on Twitter.
Instagram has the best engagement rate of all social media platforms, being as much as 58% higher than Facebook. Given this, it’s arguably a highly effective platform for ads. But do bear in mind that Instagram is very visual and so is best used for businesses who can showcase beautiful pictures of their products. This is great for those who sell products like clothes, makeup or food.
If you’re a B2B company, you’ll want to be on Linkedin. Linkedin is a platform for business professionals looking to network and find industry news. You should publish content that is thought-provoking and actionable in order to generate a discussion. Linkedin advertising is quite expensive compared to other platforms, but the leads generated are often of higher quality.
SnapChat usage has been declining recently, thanks to Instagram and Facebook hijacking their “24 hour story” idea. However, it’s still used massively by those under the age of 25, so it may be a great platform to advertise on if that’s your target market’s age. Advertising on SnapChat used to be very expensive, but has gotten much cheaper over the last couple of years. SnapChat stories only last for 24 hours, so are great for promoting limited time offers and deals!
How should I advertise on social media?
Most social networks allow you to choose from a variety of ads types. The cheapest option is often to “boost” or “promote” a post, for which you can spend as little as £1 a day (on Facebook, at least). This will simply allow your post to improve its reach.
However, if you’re setting up a campaign which aims to get people onto your website to make a purchase, you’ll want to be sending targeted ads to the right audience. You can set a daily budget for this – as little or as much as you want.
Most platforms allow you to choose from image ads, video ads and carousel ads (a series of images). While image ads are generally the least expensive, videos are the future of marketing and often highly effective. A Bloomberg study even stated that SnapChat users watch 10 billion videos per day, on average. Videos generally get more shares and engagement than other forms of content, showing that this is the consumer preference.
How much should I spend on social media advertising?
The Content Factory reckons that the average business spends between $200 and $350 a day on social media advertising. You definitely don’t need to spend this much to see results (remember, a lot of businesses have huge marketing budgets). If you’re just starting out with social media advertising, I recommend to start small and not to overspend, as it takes trial and error to learn exactly what works for your business and how to target your ads.
You could try spending £5 a day on your social media adverts and monitor the outcome. It’s good practice to A/B test your adverts to see which give the best results. Once you’ve tweaked your adverts to perfection, and are profiting from them, you can increase your spending to reach a bigger audience.
We hope you found this post helpful and have found some inspiration for your social media advertising campaigns. If you have any further tips or advice to share, please leave them in the comments!
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