Why You Should Be Advertising On Social Media
According to Statista, many advertisers are already relying heavily on social media advertising, and so should you!
You will find more statistics at Statista
So What Makes Social Media Advertising So Powerful?
- Huge Audience: Your audience is already on social media, just waiting to see your ads! In fact, the numbers are staggering. With over 1.49 billion users worldwide, Facebook is the king of platforms. Of the other top social media platforms LinkedIn has 433 million users, Instagram 800 million users, Twitter 310 million users, Snapchat and Pinterest each have 100 million users. And the numbers just keep on growing!
- Relatively Inexpensive: When compared to other forms of advertising, whether they are print or other digital ads, social media ads tend to have a lower CPC or CPM (cost per click or cost per impression). This means you are effectively able to reach more people with your advertising budget! And who doesn’t love more bang for their buck?
- Precise Targeting: The ability to target using the tools within the various social media platforms is incredibly detailed and precise. You have the ability to handpick exactly who will see your ad, and if you choose your ideal, highly convertible audience, you will see great gains from spending a relatively little amount of advertising dollars.
- Remarketing Capabilities: With remarketing, you have the ability to keep your brand front of mind with someone who has already expressed some sort of interest. You have the ability to collect data of those who have, for instance, visited your website and then send specific ads to those people via a social media ad. Still not following? Let’s say that you viewed a pair of specialized running shoes on a shoe company’s website but didn’t purchase at that time. The shoe company can now find you on Facebook by having embedded a code on their site tracking all website visitors. Voila! As you scroll through your news feed you just may see an ad for those very shoes you were eyeballing, but now the ad copy speaks to you. You will be much more likely to complete your purchase if you proceed to be reminded of those shoes when you see them on social media.
Which Social Media Platform Is Right For You To Advertise On?
In general, you should keep these user characteristics in mind when figuring out where you want to be spending your advertising budget. *source
- Facebook: Fairly even male-to-female. Most users between 18-44, but is shifting to start to skew older, with the rise of other social media networks that are more popular with a younger user base. Users tend to have completed at least some college or are college grads.
- Twitter: Fairly even male-to-female. Most users between 18-49, tends to skew more towards a younger audience. However, users tend to have completed at least some college or are college grads.
- Instagram: Slightly higher popularity with females. Most users between 18-29. Education level varies, but is most popular among current college students.
- LinkedIn: Fairly even male-to-female. Most of users between 25-54, with most likely to use between 30-49. Users skewed toward higher percentage of college graduates.
- Pinterest: Heavily skewed towards more female users. Most users between ages 18-64. Users tend to have completed at least some college or are college grads.
- Snapchat: Heavily skewed towards more female users. Most users are under the age of 25. Users tend to be in high school, in college, or are recent college grads.
It is important to remember that you should only be advertising on the social media platforms in which your target audience is active on. For instance, you would likely not want to target potential clients on Snapchat or Instagram if you are a Retirement Investment Advisor. And you wouldn’t want to advertise on LinkedIn if you were trying to capture the attention of a high school student. You don’t have to have an advertising presence on every platform; you’d be setting yourself up to fail this way! Instead, meet your audience where they are at. This will help you concentrate your efforts so that you will be able to cost-effectively stay in front of your most convertible audience.
So Now What?
Want some more information on how to get started with social media, specifically Facebook Ads? Check out this great resource. Not sure if you can handle online advertising on your own? Weigh your options!