When applied correctly, social media advertising can take your business to the next level. Every startup has two goals; to find new customers and retain them. You probably don’t have a big budget like top ranked brands and international corporations, so the major problem you’ll face is competing with larger brands to remain visible to potential customers.
Social media marketing can help you create crucial awareness and visibility for your small business, foster brand loyalty in customers and provide ways for you to engage and serve those customers better. It is the only marketing strategy that can bring in sales from the first day of advertising. When you target the right demographics via a social media platform, it has the potential to drive sales and conversion, whilst keeping costs down.
Here are some statistics that should interest you:
- Social media is important to the businesses of 92% of social media marketers
- Over two million businesses around the world use Facebook advertising to promote and sell their services or products
- The number of social media users on mobile have increased by 30% every year
- 50% of marketers who use social media advertising say it has paid off in increased sales
- Global ad spending reached $31 billion in 2016 and was projected to increase 26% in 2017
The Best Social Media Platforms for E-commerce Advertising
Facebook is by far the most developed of all social media platforms in the world. The potential for engagement with your customers, the ability of your ads to reach your target demographic and the 1.32 billion daily active users all combine to make Facebook the best platform for advertising. Whatever your business goals – from increasing website traffic, creating brand awareness, lead generation or online conversions – Facebook will get you there.
One major reason why many businesses and digital advertisers sing the praise of Facebook is the relatively low cost of advertising when compared with the profit margin. Many advertisers say they spend less than $1 per lead. Facebook offers a targeted autoresponder that helps you nurture your leads and introduce potential clients to your products and brand.
The only instance where a digital marketer won’t recommend Facebook is when you don’t have an advertising budget or Facebook has prohibited your type of product (such as tobacco or vaping products). You have to pay to earn the big bucks; hence, you’ll need a sizeable advertising budget to reach your target audience and increase ROI. Pricing is based on many factors, such as your target audience and ad budget. A study by AdEspresso revealed that the average CPC of ads on Facebook was 0.28 cents, while 1,000 impressions cost $7.19.
Instagram is owned by Facebook and you’ll find that it’s just as efficient in helping you grow your brand. Instagram has 800 million monthly active users and can boost your reach through unique tools like ‘Suggestions for you’ and ‘Follow Hashtag’ that shows posts your friends liked. Instagram also commands one of the best engagement rates on social media – 2000% and 58% better than Twitter and Facebook respectively. It has a stronger organic reach than Facebook, making it a great option when you have a small advertising budget.
The ability to share content that includes videos and photos helps people remember your brand better than another type of content. 80% of online users remember what they see more so than what they read and hear. If your content is visually appealing, you can incorporate visual media into your campaigns. It also benefits brands targeted towards women, minorities and young people aged 18-29.
Twitter has roughly 330 million monthly active users. A 2015 study found that the average Twitter user loves to shop and spends $162 more than a non-Twitter user. If you’re running an online store, Twitter is a great place to advertise your products. More than half the females on Twitter state that they rely on it when making a shopping decision such as looking for promotions, news and best deals.
According to Robert Rolls, the Head of Online Business at www.openhost.co.nz, Twitter is a good platform to drive conversions (using specific products) and increase brand awareness. Websites improve their value when running ads because brands don’t have to pay to reach followers. When using Twitter for advertising, Rolls advises marketers to use compelling images that draw attention and fit the brand. Use a CTA that leads the viewer back to your website and create room for direct engagement in the ad.
93% of active users use Pinterest to plan purchases. 87% have made a purchase because of something they saw on Pinterest. For young women especially, Pinterest is addictive. If you create a good ad, you’ll rake in thousands from advertising your products or services. Unlike Facebook and Instagram, Pinterest engages your target audience for a longer period and is targeted at women, with an 81% female user base and 175 million monthly users.
E-commerce marketers are particularly attracted to Pinterest because of its highly targeted search engine, high engagement, images built around custom product creation and the potential to reach a wide audience when promoting your brand or product. Promoted pins are highly visible, as they are placed in relevant positions across boards, ensuring that when people use a keyword or search items related to your brand or product, your pin comes up in search results.
To stand out on Pinterest, be creative, because pinners are looking through hundreds of pins and your ad needs to be amazing to grab their attention. Engage your followers and use long, detailed descriptions to improve visibility for your ad.
LinkedIn is essential for B2B businesses that target consumers based on job titles. Most of the 250 million monthly active users are working class people and it’s considered as the social media for business people. LinkedIn users have the highest average disposable income and you’ll find quality leads for some industries. Brands that shine on LinkedIn include top-rated B2B products and services, secondary education and recruiters.
To maximise the effectiveness of your ad, target by location, age, seniority, type of company, size of company, education and skills. Focus on creating content that solves problems for working class people and attempt to reach as many groups as possible via your ad campaigns.
If you’re not an experienced digital marketer, the best way to manage your social advertising campaigns is to hire a managed service to run your ads. While it’s more expensive than using an automated software or running your ad manually, it is still the most successful. It allows you to focus on creating great content for your customers, while leaving the job of advertising to digital experts, who have a wealth of experience running ad campaigns for small and big brands alike.