Social media marketing is becoming increasingly attractive for many businesses. Companies spent $132 billion on social media advertising in 2020. The amount companies spend on organic social media marketing is even higher.
The business and commerce landscape has evolved rapidly during the past decade. It is imperative for businesses to keep up with the latest marketing trends or risk falling behind.
Because of the rise of the internet and other forms of digital communication, traditional methods of advertising are becoming increasingly ineffective, and companies must constantly search for novel approaches. Businesses are missing out on opportunities to enhance their customer base, brand recognition, and revenue if they aren’t utilizing the latest developments in digital marketing.
Social media marketing, in particular, has a great ROI. Companies report receiving $2.80 for every $1 spent on social media.
The following are four examples of why advertising on social media is a must for any company that wants to expand its operations.
- Get More Viewers
Brands that advertise on social media platforms like Facebook, Instagram, Twitter, YouTube, LinkedIn, Pinterest, and TikTok can find new clients who are already interested in what they have to offer.
If you want your ads to reach consumers who are likely to be interested in them, then social media advertising is the way to go, as opposed to search engine-based digital marketing. You can attract more people who share your target audience’s interests with social media marketing.
- Spend less
Marketing through social media platforms, in contrast to more conventional forms of advertising, may be done on a tighter budget.
Spending more on social media advertising is, of course, the greatest method to figure out what works, test variables, and optimize your ads so that you can achieve your objectives, whether they are to increase website traffic, sales, or newsletter signups.
As a platform, Pinterest is great for low-budget campaigns aimed at increasing website visitors. Contrarily, LinkedIn has a little higher price tag. However, paid promotions on LinkedIn are a great approach to getting more qualified prospects.
- Gain Useful Insights
When compared to more conventional forms of advertising, social media advertising provides greater precision in targeting. As the number of targeting possibilities grows, so does the number of tests that can be run, the number of audiences that can be broken down into, and the number of ways that the data can be analyzed.
Facebook’s breakdown reporting is just one tool that might help you better understand your audience. Reporting can be segmented based on a variety of demographic variables, from age and gender to location and device preference. You can then match the demographic breakdowns with your intended recipients after you get the data. Metrics allow you to see which ads are working with certain audiences so you can tailor your marketing strategy accordingly.
Facebook Ads Manager’s Audience Insights data is also a fantastic resource for audience-based information like relationship status, education level, occupation, geography, and more.
- Use a Wide Array of Formats
Each social media site has its own ad placements, specifications, and formats, but they all have some things in common.
Every social media network provides extensive leeway for individual expression and a wide variety of tools and approaches for presenting your brand in the best possible light. In terms of ad length, you have a lot of options, including both longer and shorter forms of video material and still photos. Ad space can be maximized by displaying rectangular ads either horizontally or vertically, or by switching to a square format.
The Stories format has been increasingly popular, and it can be utilized across numerous channels, including Facebook, Instagram, TikTok, Snapchat, LinkedIn, and Twitter.