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The New Age of Advertising

Posted on August 24 2016 | Author: Rebecca Reynolds

Facebook, Twitter and many other channels have millions of users, so why not take advantage?

Social media advertising is dramatically shaking up the marketing industry. With lower costs, higher returns and available reporting metrics, it seems obvious why countless organizations are focusing on this outlet. Social media advertising allows you to deliver the right message, to the right people, at the right time.

The most revolutionary and unique aspect of social media advertising is the number of target selections available to focus on a specific group of individuals. Below are just a few examples of the possible target options:

  • Age
  • Gender
  • Language
  • Education
  • Interests
  • Friends
  • Relationship Status
  • Actions Taken
  • Occupation
  • Location
  • Friends of Friends
  • Job Title



Advertising budgets can go a long way over social media. With the benefit of spending as much or as little as you’d like, it helps enhance the quality and reach of your campaigns, to promote your brand to the right audience. Primarily, targeted advertisements should be your focus, but also note that it is important to create blanket-marketing messages that appeal to a wider group of people as well.


Determine An Outcome
Before creating your campaign; outline your goals and objectives to best tailor your advertisement. Monitor and analyze the channel’s metrics frequently to determine if these goals are being met.

The three most important metrics are below and they display how your campaign is performing:

  • Click through rate (CTR): Measures the number of clicks on your advertisement VS. the number of impressions received (clicks divided by impressions). This shows how relevant your content is to your audience as well as traffic quality. Higher is better.
  • Conversion Rate: Tracking the landing page visits from your campaign provides an idea of the quality of clicks it is receiving, which can help to better develop content for future campaigns. Calculate by dividing conversions by number of clicks. Higher is better.
  • Cost Per Conversion (CPC): Each campaign should have a clear goal or call-to-action (ex. Newsletter signups, sales, web traffic, etc.). To calculate the return on investment of your goal, divide the amount of money spent by the number of conversions (provided in your metrics). This assesses your campaign’s profitability and also helps determine a potential future budget. Lower is better.


Choose A Channel
Each platform offers various tools and reporting outcomes. Therefore, analyzing which is the most appropriate for your marketing objectives is essential for success.

Facebook

  • Pro: Facebook is a great option for small businesses because it has the largest audience and can easily boost visibility for the company and its advertisements. Also, it has many targeting options such as: gender, location, education, workplace and relationship status that help reach the right individuals more accurately.
  • Con: Compared to other channels, Facebook provides minimal information for reporting on the performance of your campaigns.
  • Cost: This is one of the most cost effective channels, with the option to spend as little as $1 per day.

Twitter

  • Pro: Twitter has the target option to reach people based on their current interests. Using hashtags helps target the advertisements more specifically, similar to Google Adwords.
  • Con: Despite the convenience of hasthags, other Twitter advertising options do not offer the same ease, with a limited selection of targets to choose from.
  • Cost: There are three different options, but the most frequent and least expensive is promoting tweets.  For approximately $0.5-$2.00 per engagement (retweet, favourite, click, etc.), you can boost the reach of a tweet you wish to promote.

LinkedIn

  • Pro: The best aspect of LinkedIn advertising is the user base, which are mainly business professionals. Similar to Facebook, you have the ability to target specific groups through location, titles and demographics, for example.
  • Con: Although there is a higher conversion rate, this platform provides a very low click through rate. Generally, the users behind the clicks are much more qualified than compared to other social media networks.
  • Cost: LinkedIn is one of the more costly networks, averaging of up to $4-5 per click.  However, since it hosts a greater audience quality, your campaign reaches only those who are immediately interested, which may be worth the extra cost.


Create an Advertisement
Now that you’ve determined your campaign goals and the appropriate channel to use, you can begin to create your advertisement. Consider the following when developing the campaign:

  • Be consistent: Create the ad so its parallel with your company message and culture
  • Be informal: Use language that is similar to how your audience converses over social media
  • Be honest: Display your brands uniqueness and culture so your advertisements appear genuine
  • Be concise: You only have a few moments to grab their attention so be sure to make a good impression
  • Be obvious: Incorporate a call-to-action, make it clear what you want them to do
  • Be visual: Always include images for a greater impact and the potential to increase click through rates

Advertising through social media has created endless possibilities. To use it effectively, you need to be frequently engaged, create quality resources for your audience and analyze the metrics provided. Only by analyzing your outcomes and productively utilizing the appropriate channels, will your company be able to refine its voice on social media and truly communicate with the right audience.

Rebecca Reynolds
Marketing & Events Assistant

 

Sources
www.pennapowers.com
www.hootsuite.com
www.hubspot.com


 






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