Social media ads surpassed printed ads for the first time in 2019, with around 84 billion dollars in spending globally. It represents about 13% of ad spend, trailing only behind paid search and tv. So, what has caused this skyrocketing trend?
Let’s look at Facebook, the market leader in social ads, and the owner of two of the biggest platforms: Facebook itself and Instagram. In 2019 Facebook generated 70.7 billion dollars in revenue and Instagram another 20 billion, surpassing even YouTube. Why? Easy to use, with no minimal advertising and clear reports. These features have attracted over 8 million advertisers to post their products and services using the social media giant.
In this post, we will discuss the benefits of social media ads and the biggest platforms and a summary of why you should use them in your business.
Benefits of social media ads
To begin social media ads are the only way to truly gain exposure in social media. For instance, the average organic reach on Facebook is barely 5.20%. In other words, 19 of 20 of your followers won’t see your content even if they follow you.
Sadly, you must pay to get around the algorithm, but it surely pays off as you can have an impact with a relatively small budget to generate awareness, build up your brand locally, promote a promotion, among others
Secondly, social media ads allow you to segment so that your content reaches your ideal audience. Here is where building customer personas come in extremely handy. You can target your customers by demographics, interest, professions, among others, making it one of the most cost-efficient methods in marketing.
Thirdly, social media allows you to measure every single action, together with google analytics and/or platforms like Facebook Pixel, you can have a clear image of what content drives conversion and continuously adapt your strategy.
Finally, on most social media platforms, there is no high investment required to promote your content. You could do ads for as low as 1 dollar a day, allowing a small business owner to promote their products even if they don’t have a million-dollar marketing budget.
An example in social media ads can be CocaCola “together we must campaign.”. For instance, Coke invested over 100K in this campaign, reaching over a million people. Facebook allows you to see what investment other companies made in ads. Therefore this is an excellent way to benchmark!
Biggest social media ads platforms
To continue, lets mention some of the leading platforms on social media:
- Facebook and Instagram: most social media ads spend on these two and they offer great segmentation options with video and image reach content.
- LinkedIn: In my opinion, this is perhaps the best platform to do ads targeting B2B leads.
- Twitter: You can do text, image, or video. They also have an interesting product called Twitter cards. Also, research suggests that Twitter has one of the highest ROI among the different platforms.
- YouTube: The biggest video platform also has live streaming and.
- Snapchat: Even when it’s not one of the biggest platforms, they have one of the most loyal and engaging users.
- Tik Tok: Is one of the fastest-growing platforms, although the political climate could impact it.
Why should you try it
The investment barriers to enter social ads are very low, so it’s worth trying out. My recommendation would be to develop a campaign with different types of content, aiming to generate a sale. By programing a custom link, using google analytics, or even making a coupon code from social media, you could easily measure the impact in sales and calculate the ROI of your investment.
In conclusion, trying out social media will let you be known to new customers, generate more leads and sales, and increase brand awareness! It’s worth trying!
I hope you enjoyed this week’s article. If you like this post, you might want to check out last week’s article, three effective social media content strategies. If you have any questions, please leave a comment on the section below.