During the last few decades, advertising campaign on social media has emerged as the most cost effective and result oriented marketing strategy. This digital advertising channel is the best option for improving impressions, clicks, and conversion ratio. If you are planning your marketing strategy, you should allocate 25 – 50 percent of your budget on social media marketing. On an average, business owners these days allocate about 28 – 30 percent of their overall budget on social media marketing.
The plus point is that you can streamline your advertising campaign along with other social media activities. You may extend your market by connecting with the targeted audiences, educating them to create awareness about the right solutions, nurturing prospects, and placing ads to induce customers who are ready to buy your products and services.
When marketers start their social media campaign, they are mostly perplexed as to which social media channel they should focus on? To find out the best channels and optimize their marketing efforts.
The scope of social media marketing is unlimited. You can place your ads on any social media site or web page. Even the blogs of your friends and family may bring traffic to your business. But we suggest Facebook, Twitter, and LinkedIn channels to leverage your business as these top social media sites are best for focusing your efforts and time.
Benefits of advertising on Social Media Channels
Advertising on social media sites can significantly extend your market by allowing you to reach millions of potential customers. You can reach your targeted audiences by connecting with them, posting your comments, liking, favoriting, retweeting, or use other interaction tools. Placing your content and ads on the homepage allows you to seamlessly integrate your social media marketing with other social content being published on the channel. Advertising on social media will significantly increase your brand visibility and encourage more and more people to join as fan followers.
Twitter offers deep analytics and several advertising options so that you can use the best strategy that suits your business or marketing goals. Here are some of the marketing options that you may use on Twitter:
- Followers: increasing your fan followers consisting of potential customers is going to be extremely rewarding, particularly if you are planning to launch your new product lines or making any business related announcements. Twitter helps you promote your account and gain followers (Shoutlet).
- Conversion Ratio: Advertising on social media channels increase traffic to your website and improve your conversion ratio. Twitter allows you to track conversion ratio on promoted tweets and review the impact of social media channel on your business. By using promoted tweets or Twitter Cards, you can analyze and evaluate the effectiveness of your advertising and understand how social media channels can be used to further accelerate your business.
- Promotions: Promoted tweets involve advertising costs, but extend your reach to millions of targeted audiences that are not possible through regular Tweets. If you can manage the advertising costs, Promoted Tweets will significantly increase your visibility and enable you to engage more and more potential customers who are looking for your products or services. For example, promoted tweets allowed Airbnb to achieve a 4% engagement rate.
Airbnb’s advertising on Twitter was very successful because they used informal language on their tweets just like people normally communicate on twitter. While their brand personality generated excitement, offered incentives (CTA) and effective targeting enable Airbnb to significantly extend their market and engage a large number of untapped potential customers.
- App installs/engagements: Smartphones have emerged as the most preferred device for accessing social media and other content over the Internet. In fact, a large number of potential customers are using the mobile platform to search for products and services. Tapping this market can significantly contribute to your lead generation. Twitter enables you to advertise your mobile app, encourage app installs (through Twitter Cards), and engage potential audiences by nurturing your campaign on mobile
- Lead Generation: social media has become the most significant part of any credible marketing strategy and contribute to your marketing funnel. Twitter Cards enable you to access the contact information of your potential customers within the tweet. You get leads that are more likely to convert.
- Flexibility: you can customize your advertising campaigns as per your specific goals. Customized advertising on Twitter enables you to incorporate specific keywords or streamline your advertising campaign according to television programs or other interests and preferences of your targeted audiences.
Evaluating advertising performance on Twitter
We are fully confident that you will be impressed by Twitter’s advertising analytics. Twitter provides a separate dashboard for each of your advertising campaigns, enabling you to delve deeper and evaluate specific performance data like impressions, new followers, engagement rates, demographic details of audiences, and other tools (testing interface).
In comparison to other social media channels, engagement rates on Twitter are much higher (ranging 1-3 percent), but the cost of advertising on Twitter is comparatively higher ($3.50 CPM). Interestingly, their annual increase in revenue per visitor (RPV) is almost 300 percent.
Facebook provides a social media channel that can be used to integrate advertising campaigns with your social activities. You can target a market where people have a certain level of trust on you and they are willing to seriously listen to your solutions. For example, connecting with your friends and followers is much easier than engaging strangers. When your friends and followers like your home page or ads, they create a social proof and infuse credibility to your business. Your potential customers can easily find out which of their friends visited or liked your company’s Facebook page or commented on your ads being displayed in their News Feed.
The advertising options and benefits are almost similar to twitter, but the strength of Facebook lies in its targeted advertising. In comparison to other social media channels that enable you to reach about 38 percent of your intended audiences, ads on Facebook enable you to reach almost 89 percent of your potential customers on Facebook.
- Boosted Posts: If you feel that your Facebook Page has not become popular enough to reach intended audiences, you can use boosted posts on Facebook to extend your reach to targeted audiences. Boosted Posts may cost about $5 a post, but you can reach a much wider audience than normal posts. Boosted Posts are very suitable for launching new products and services or sending your message to a huge number of targeted audiences – way beyond your fan followers!
- Facebook Offers: you can offer special price or discounts to your customers on Facebook community or make them eligible for such discounts on their next purchase. These offers will encourage your targeted audiences to follow you and share your page or ads with their friends and social network. You can further expand your reach by offering a little extra for those who share your offer with their friends and social network.
Evaluating advertising performance on Facebook
Facebook enables you to evaluate the performance of your ads in real time. You can access all the performance related data like the reach, unique clicks, conversion ratio, demographics of your audiences, and other details to find out the effectiveness of your ads. You can even schedule these reports to be automatically sent to your sales manager.
Advertising performance on Facebook significantly differs for each ad type, depending on the industry and efforts. Salesforce has done a good benchmark to enable marketers to understand what they can expect by advertising on Facebook.
While advertising on Twitter and Facebook are more suitable for business to customers marketing, the LinkedIn channel is great for promoting your business-to-business campaigns.
Advertising options on LinkedIn:
- Sponsored Posts: LinkedIn channel provides audiences with very specific demographics (can be recruiters, corporate executives, or other professionals). Sponsored posts on LinkedIn are visible to your targeted audiences when they log onto their accounts. Priority positioning further increases the visibility of your ads.
- Display Ads: sometimes you may want more specific or customized display of ads. Customized displays can be more effective than increasing the reach of your ads by using Google or other advertising networks.
- PPC Advertising: just like displaying ads on targeted platforms, PPC Advertising on LinkedIn enables you to reach your potential customers by displaying banners or a combination of text or visual ads. If you feel that AdWords or other marketing platforms are not effective enough in reaching your intended audiences, PPC campaigns on LinkedIn may generate leads, create brand awareness, or increase traffic due to its unique business to business nature.
Evaluating advertising performance on LinkedIn
Linkedin provides an interface that is relatively informative. You can review all the basic performance metrics of your campaign like impressions, clicks, and CTR. You can schedule performance reports to be sent to your sales manager.
According to KISSMetrics, CPC on LinkedIn is about $2, but if your niche is highly competitive and/or your click through rates are not good enough, be prepared to expect a CPC of around $4-5. In the case of CTRs, LinkedIn recommends an acceptable CTR of around 0.025%, but you can carry on with 0.08% to 0.10% CTR (as encouraged by KISSMetrics) as long as you can keep an eye on engagement percentage, demographics, and competitive edge in your niche market.
Making an effective social media advertising campaign
- Connect with your intended audiences in an informal manner – just like people communicate on social media.
- Incorporate your brand personality so that your ads look genuine and trustworthy.
- Use the right words, be concise, and convey to the point. You will have only a few seconds to grab the attention of your potential customers!
- Your ads should have a clear cut call to action (CTA), without creating any kinds of confusion.
- Include suitable visuals to improve your click-through rates. For example, including images on your tweets can boost engagement possibility by 94 percent.
- When launching your social media marketing campaign, make sure that your ads are positioned to correctly portray your brand message.
Bringing it all together creating successful advertising campaign
In a nutshell, the success of online marketing depends on your efforts to connect with targeted audiences and accelerate lead generation. Advertising on social media is part of your overall marketing strategy and business goals. You must have a clear picture of what you want to achieve and what are your marketing strategies – which options on social media channels you want to use for achieving your business goals.
Once you have determined your business goals and social media marketing strategies, analysis, evaluation, measurement, and experimentation hold the key to amplifying your message, generate more leads and reduce the overall cost of your advertising campaign.
Have you even launched any social media marketing campaign? How effectively your ads interacted with potential audiences? Please share your experiences regarding advertising on social media. We would love to hear about your views and suggestions.
Best way to track the result of effectiveness of campaign is by using SMAX Social analytics, to instantly monitor your mention, engagement, and sentiment. This will tell you exactly how your campaign has being react from the audience.
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