Among the many forms of advertising, social media marketing is an area that’s rapidly growing in importance. With global spending on social ads set to increase from $32 billion in 2017 to $48 billion in 2021, this type of advertising remains one of the fastest growing avenues of paid promotion.
For marketers who wish to perfect their efforts, therefore, our blog this week dives into the most popular variations of social ads. Take a look below and get started on effective social media marketing!
Boasting the largest social media user base, Facebook is an effective platform for social media marketing.
In terms of what’s usually advertised on this platform, you will find the coupons, giveaways, ‘free shipping’ offers, and discounts are some of the most common types of promotion. Facebook also offers powerful targeting and segmentation tools, making it easier for businesses to fine-tune their advertising to audiences that really matter.
While it’s evident that a greater budget allows the site’s algorithm to run more effectively, marketers are not restricted by minimum spending amounts. This makes Facebook ads extremely affordable, especially if your company is just starting out.
In fact, the average Cost-Per-Click (CPC) of Facebook ads in 2017 was around $0.97 and the Cost-Per-Impression (CPM) – calculated for 1000 impressions – around $11.17.
•Run original ads for different audiences – generic ads restrict the language and content you can use to drive conversions.
•Make use of prospecting ads to create awareness around your business.
•A/B testing is important to test new approaches and find out what works for your target market.
•Use emojis! 🙂
•Discover new audiences for your business with Facebook’s lookalike audience tool.
With 500 million monthly users from all walks of life, Instagram is gradually displacing Facebook as the preferred social media platform for younger users.
With audience engagement 58% higher than Facebook and 2000% compared to Twitter, there’s little doubt for advertisers who choose this platform to drive sales and traffic onto their sites. Victoria’s Secret, in fact, once reported an average 2000+ likes per post on Facebook, compared to 283,000+ likes on Instagram.
Given the value of the platform, the cost of Instagram advertising has gradually increased with time. In the first quarter of 2018, professionals paid an average CPM of $7.91 and a CPC of $1.41.
•Build a custom audience.
•Use Instagram’s lookalike audience tool.
•Avoid using stock photos – customers like original content.
Here, businesses have the ability to target and advertise their services, based on a combination of factors including job title, industry, experience, education, and more.
In this regard, recruiting services, educational programs, and exclusive B2B products and services are those that experience the most success on this platform. LinkedIn ads generally take the form of sponsored posts, text ads, and sponsored InMails.
Here, average CPC is around $6.50 and CPM $8.39. While this may be a little bit on the higher end, it is a minor cost for high-quality leads.
•Ad tracking – make sure you monitor your ads and discard any that display a click-through rate that’s less than 1%.
•Use the platform’s ad targeting tool to target companies, job titles, industries, company size, education and skill, and the like.
•Make sure your text is brief, professional, and to-the-point.
•Promote ads within LinkedIn’s high-value groups to increase reach and conversions.
Twitter also allows for effective social media marketing, giving advertisers surprising control over campaign objectives including leads, conversions, app installs, and the like. With 328 million active monthly users, the platform is a great source of advertising for mostly “woke” millennials and Gen Zs.
On average, businesses can expect to spend an average of $6.46 for 1000 impressions and around $0.38 per click.
•Use images that are evocative and immediately eye-catching.
•Incorporate opportunities for user engagement on your ads themselves.
•Keep it short – Twitter is all about communicating your message in 280 characters or less.
•Be creative about getting your message across.
With the most popular types of social media marketing – and a quick dive into each of these – outlined above, you will now find it easier to achieve some of your marketing goals.
Given the growing value of social media, fine-tuning the ad placement process is one that’s very much in your best interests. Watch this space for more tips to run successful social ads and master the social media marketing game.
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You can also check out our blog for more tips on how to perfect your advertising efforts!