Is It Worth Advertising on Social Media?
"Should we be advertising on Social Media" is the million dollar marketing question for many SMB’s right now. Is it right for us, is it cost effective and, are people actually looking for what we’re selling on social media? The answers? A resounding yes, yes and yes. For the most part anyway.
The problem with social media is that many people seem to think it’s solely for big, blue-chip companies who are looking for huge reach and are not confined to a small geographical area, as a local business is.
What they’re overlooking is the fact that social media can be very targeted, thanks to its geographical nature.
Which means it’s easy to advertise ANY business and pinpoint your audience based on dozens of parameters, thereby ensuring your ad is only seen by your intended audience, even if they’re only across a 10-mile local radius.
Perfect Targeting Made Easy
You can also specify things like gender, age, interests and profession in your ad targeting, which all help to ensure your ad is only seen by people who can actually benefit from your products or service.
So if you’re a Hairdresser in Nottingham for instance, you can advertise on social media very cost-effectively, knowing only those people that meet your criteria will see your ad.
Compare that to a local newspaper, where you’re paying for the entire demographic to see it, even though a huge percentage of them are unsuitable for your business.
Basically, advertising on social media is perfect for pinpointing your audience. There’s so little waste, as you can choose who sees your ad, based on so many different parameters.
As you can see, advertising on social media can be extremely good for your business, once you’ve built up your following.
There are 2 main ways to advertise on social media:
1: The free way:
If you have let’s say, a company Facebook, Twitter or Pinterest account, you can post things about your business for free and your followers can read it.
You can post info directly related to your business, announce new products, feature your best products, upload a product list, menu, brochure, testimonial, photo or video.
The people following you are obviously interested, or they wouldn’t be following you, so these are the things they’d expect, mixed in with the fun stuff.
And it’s all free advertising.
The effectiveness of this depends on the number of people following you, but it’s free for the most part so spending time building this up can pay off in the long run.
Some companies have millions of followers and their social media exposure becomes a huge part of their marketing plan. In fact, there are companies who have built up their brand solely on social media, as it’s so powerful.
The good thing is, once someone is following you, you get multiple chances to market to them this way until they unsubscribe. Also, you can engage with your followers with questionnaires, market research, quizzes, and competitions.
The viral nature of social media can help you gather more followers and potential customers too, as your current followers react and share posts with their friends.
The only problem with this is building up a following can take time and you want results right now, so it’s worth considering the benefits of your 2nd choice . . .
2: The paid way:
You may or may not be aware that you can pay to advertise on most social media sites, with many using a PPC (Pay Per Click) model. Which is a great way to advertise, as you only pay each time someone clicks on your ad.
You pay a set, pre-agreed amount per click, which can be just a few pence/cents, depending on the competitiveness of what you’re selling.
People only click when they are interested, so your traffic is very targeted. Those who aren’t interested don’t click, it’s that simple.
And when someone clicks on your ad, they are sent straight to your site, meaning you only pay for instant, targeted visitors/prospects.
There’s simply nothing else that’s this fast, efficient and cost-effective.
Whichever of the 2 you choose (or both), keep in mind that the cover of social media is unprecedented simply because of its popularity. With literally billions of people now online and embracing social media, it’s the biggest audience in history, for savvy marketers.
Isn’t it time you made the most of it?
Facebook is obviously one of the most popular social media sites and now has over 2.01 billion monthly active Facebook users worldwide as of June 2017 (Source: Facebook 7/26/17).
To prove it’s not going away, social media advertising budgets have almost doubled in the past two years from $16bn to $31bn of which 57% of the advertising budgets are dedicated to mobile on Facebook, and 25% on Twitter.
And when you realise that 70% of the US population now has a social media account, it’s easy to see why there’s never been any form of advertising as efficient as this before.
So, make sure if you’re posting to your social media profiles, make sure you entertain, inform and engage first, rather than trying to sell at every opportunity. Try various things until something sticks and you begin to build a passionate following and then you can begin turning them into passionate customers.
If you decide to use paid ads, it’s a little different obviously, as you are promoting what you’re selling. Just make sure you send your prospects to a page that matches your ad, so product page etc and use the same kind of headline in your ad, that you use on your page.
Social Media is a huge audience you can target with pinpoint precision, to ensure you’re not wasting your marketing budget. You can combine free profile posting along with paid ads for the best of both worlds and simply see what style works best for you.
Sounds perfect, so why not get started today?