Let’s begin with the bad news. If you don’t have a great social media strategy, your organic reach will be pretty much dead. With dynamic social media trends, it's almost impossible to get your content noticed.
But brands all over the world have been successfully marketing their business on social media and getting effective results. Rest assured, there is no magic behind it. People don’t just ‘have’ an engaged audience; they build it.
If you’re looking to reach out to more people on social media efficiently, it’s time you put some money on the table. Social media advertising is a great way to reach new, highly targeted audience and bring more people to your brand.
Types of Social Media Ads
Today, most social media platforms offer paid advertisements. And with the growing ad market, the diversity of these ads have also increased tremendously.
When thinking about which type of ad to use for advertising, look at your social media posts that perform well organically. Content that naturally strikes a chord with your audience is an obvious choice for a social media ad campaign.
Photo ads - These are the most basic form of advertising. These ads are very effective for promoting or launching products or services. Make sure that your ad includes a photo of people using your product, not just the product.
Video ads - Video ads are currently very popular on Facebook and Instagram and are very effective for engaging an audience. Short videos tend to have higher engagement but if you've got a compelling story, you can drive engagement through long videos too. Learn more about video ads here.
- Story ads - These are quick and simple ads that only last for 24 hours and are great for instant marketing. They are highly effective for limited time-period offers.
- Carousel ads - Have more than one product or service to offer? Then carousel ads are your best option. You can also use these ads to highlight the best features of the same product that you want the audience to know
- Slideshow ads - A slideshow is an ad that creates a video from several static images—your own or stock images.
- Instant Experience ads - These are interactive mobile ads that run on a full-screen. It can include up to 20 images or a maximum of a 2-minute long video.
- Message ads - Here the users directly receive ads as messages in their inbox directly or vice versa. For example, InMail on Linkedin allows you to send a personal message to users without being in their list.
Social Media Advertising - Cost & Metrics
You don't have to invest a lot of money to make the most out of advertising. Social Media platforms provide a solution for every budget - whether it is $2 or $20000.
Ads on most social platforms work on a format similar to that of an auction. You bid for a target result such as message, click, like, etc.
If you are someone who has advertised on social media in the past, you've probably paid using one of these methods -
- Cost per click
- Cost per impressions
- Cost per conversion
- Cost per view
Several other factors also impact how much you're paying for running ads on social media. his goes beyond what the competitors are bidding. These include -
- Ad quality
- Your Ad objective and goals
- Your target audience
- The target demographics
- Time & Day
How to Maximize Social Media Ad Results
1. Specify your Business Objectives/ Set Quantitative Goals
I know we start most of our guides with identifying business objectives. You might have realized by now how essential it is for every strategy.
But when laying down social media advertising goals, you need to be specific. For instance, if you want more traffic, your goal should be 'number of clicks'.
Specific goals help ensure that you chose the right social media network and the right metrics for social media ads.
2. Set the Right Targeting
Every social media platform has its own type of audience. You need to identify which network does your target audience spend most of their time.
Social media platforms also provide highly targeted options when creating ads. Maximize results by taking advantage of this feature to reach the right people, at the right time.
3. Review your Organic Posts
Before deciding on which ad to run, you should look back to your social media profiles and evaluate what type of content is highly consumed by your current audience.
Analyse posts based on your current ad campaign objective. For instance, if your objective is to attain maximum shares, go back to your most shared posts and analyze to understand why it was shared by your audience.
Doing so will help you know what content your audience enjoys and it will guide you towards creating engaging ads.
4. Pay only for What Matters to your Business
I've have come across a few marketers who pay for both engagement and impressions in a single ad.
While both engagement and impressions are valuable to your business, you need to know what you want from your current campaign. For instance, when paying for impressions, you can reach a much wider audience. It is great for building brand awareness and attracting people. On the other hand, if you're paying for engagement, you can reach potential customers and a very highly targeted group. This is great for generating leads and conversions.
Since these are two completely different audiences, you shouldn’t target them in a single ad. It won’t give you the desired results and your social media budget will be out of control.
Align your business goals with social media metrics to enhance the efficiency of your ad.
5. Optimize ads on mobile
Social media users are more active on mobile than the web. More than 3.25 billion users access social networks through mobile.
Unless you specifically choose desktop placement, you should always optimize ads for mobile. This ensures that all users go through the same experience and drive effective results.
6. Test Test Test!
Social media ads provide instant feedback. You can anytime alter your ad strategy according to the analysis. And this feature has proven to be very beneficial for marketers today. This allows you to run A/B tests on your ads and optimize the performance.
Measure (and Report) Results
Measuring results is as important as identifying your business goals for developing an effective strategy. This will help you evaluate whether your returns were worth the investment. Further, it also helps you analyse what works, and what doesn't with your target audience. This can help you improve on your current social media strategy going forward.
Measuring the value that social media advertising brings to your business is one of the key components of proving ROI. Ultimately, the success of your social media marketing efforts depends on the ROI.
It is essential for every business to effectively measure their ROI to enhance business growth.