What can happen within a span of ten years?
Don’t have a clue? Well, let’s create a little run down from the previous years and check out some blast from the past.
In May 2005, Facebook launched its very first advertising alternative. Just ten years later, the revenue of its social media advertising has been estimated to reach about $8.4 billion!
Woah. Now that’s A LOT of money.
Of course, a lot of consumers are already spending huge amount of their time enjoying social media. In fact, an average person will clock into their online accounts for more than six hours every day.
That counts as a major reason why reaching your target audience in this field is easier considering this is where they enjoy spending most of their time.
What is Social Media Advertising?
Social media advertising is an essential part of social media marketing. It basically means advertising using social media. Notice the posts that appear on your:
- and other social media websites
These are mostly intended on promoting any brand, product or services. These are the ads that are being catered by the platforms for social media advertisers.
- Advertisers would pay a certain amount for the social media networks to show their ads according to several different payment models.
- By placing your ads on the pages of social media networks, you will be able to increase the visibility of your website which will result to increased traffic being generated from these ads.
- They will charge you a certain amount that you must pay for them to place these ads that can help you generate traffic. Hence, this process is called paid social traffic.
To sum it all, social media advertising is simply defined as the process of obtaining paid targeted traffic to your website from social media sites such as:
- LinkedIn, etc.
This practice has now become a thing of the present and no longer that of the future. This is because several companies, large brands or small, have discovered how cost-effective and influential these campaigns can be.
In the next few minutes, the advantages of social media advertising will be discussed.
Advantages of Social Media Advertising
1. Advanced Targeting Options
You will be able to target your audience in several various ways through social media compared to other online platforms since it is composed of a huge amount of user’s information.
- It will allow you to stretch beyond the broad and common demographic data to increase the relevance of your advertisement to your users.
- Thus, this gives you a different level of personalization that you will not experience with other interesting channels. Below are some of the advanced targeting options:
- Interest targeting. This will allow you to reach specific audiences according to their:
- Pages they have took part with, etc.
Interests can be as general as a sport or hobby (e.g. mountaineering, camping) or as specific as a product (e.g. tent, trail shoes, mountaineering backpack). This is commonly offered by:
- Behavioral/Connection Targeting. This advanced targeting option will allow you to reach people according to their purchase behaviors or goals. You will be able to reach people who have a certain kind of connection to your page, app, group or event.
- Custom Targeting. Facebook calls this type of targeting ‘Custom Audiences’ while Twitter refers to it as ‘Tailored Audiences’. This can be done by simply uploading the email addresses, phone numbers, user IDs or usernames of the people or group of people you have known and would like to target.
2. Improved Conversion Tracking
Now that you have all the possible options to target your users, another important thing you should be able to do is track the performance of your social media advertising campaign to justify the amount of money you have spent and to decide how much budget you should set in the long run.
- With this type of advertising, you will be able to measure the success of your ad since several social networks now offer website conversion tracking. Conversion tracking can help you become smarter on how you spend for your advertising for you to plan your strategy.
- If your advertisement is receiving many clicks (which you are paying for) but with no conversions, then you can conclude that it would just be a wasted investment.
- Now that you have this information, you will be able to better optimize your advertisement and targeting strategy.
3. Mobile Dominance
It cannot be denied that reaching users through their mobile phones is the next big wave that should not be neglected and what better way to do this than social media advertising.
- Latest research shows that the people in the U.S. check their social media accounts 17 times a day, or at least once every hour when they are awake, if not more.
- Hence, advertising to them while they are using their mobile phone would be the best way to reach them without being unruly.
- In fact, advertising on mobile has been predicted to have a huge growth market in the next two years as study shows that over half of mobile phone users all over the world today will have smartphones by the year 2018.
Take Advantage of Social Media Advertising
Social media advertising is the next big thing by entrepreneurs. To some, they see it as a powerful craze that must be taken advantage of while it is still in the limelight. Truth is, social media advertising brings tangible advantages.
It isn’t just a buzzword any longer. It is a real driver of leads and sales. Thus, several departments of marketing have increased their budget in social advertisements across the world in response.
So, figure out what strategy works best for you. You’ll never know when your next post’s going to be a viral hit on Facebook and Twitter!