Social media has evolved over the past decade and has become an integral part of all online marketing strategies. Social media has also revolutionised the way people communicate with their peers, interact with brands and the way they consume media.
An average person spends over six hours online daily, according to research company eMarketer, the average person spends about 1.72 hours on various social platforms per day, which is about 28 percent of the overall online activity.
So it makes sense for online marketers to tap into this market and leverage their bottom line. However, the goals have also changed drastically over the past few years. Until now, marketers were focused on expanding the number of followers and acquiring as many likes and shares as possible.
Today the scenario is completely different and marketers are now focussing more on social media advertising.
Back in 2013, online advertisers spent about $5.1 billion on social media advertising, which is expected to surpass $43 billion by 2020.
What is Social Media Advertising?
Social media advertising, aka ‘paid social’ is referred to as the marketing activities on various social networks where the messages are paid for. This generally involves display ads, text ads and sponsored posts. Social media advertising is very much different from digital marketing tactics such as SEO which are earned.
By 2025, the social media advertising market is expected to reach $141.9 Billion. Social media advertisements offer numerous opportunities to improve brand awareness by targeting specific geographic and demographic segments as well as behavioural traits.
With so many options and so many ways to leverage social media advertising, knowing where to start might overwhelm you.
Tips to become Successful at Social Media Advertising
If you have resisted yourself from spending money on social media advertisements, you must give it a second thought. Social media ads have the potential to earn the biggest returns compared to any other form of online advertisements.
Of course, not all social platforms will reap the maximum returns; so you need to identify the one where your targeted audience can be found. Here are some tips that will help you win at social media advertising:
Know Your Audience
This is the very first step towards building a successful social media advertising campaign. Almost all the social media platforms including Facebook, Twitter, LinkedIn, Instagram and Pinterest allow advertisers to choose the particular segment of the audience that they want to reach out to.
Targeting is a crucial part of all social media advertising campaigns since you want your ads or sponsored posts to be seen only by potential customers. Almost all social platforms allow you to target ads based on age, gender, location, interests and behaviour.
Create Several Ad Variations
In order to ensure the ads perform their best, you must create ads that resonate perfectly with your audience. So you must create multiple variations of an ad to see which one performs the best among your targeted audience.
The best thing about social media is that they allow advertisers to constantly monitor the performance of the ads and make necessary changes whenever required. Only top-performing ads will gain the maximum ROI, so create ad variations with different ad copies, images and CTAs.
Once you identify the ads that perform the best, you can turn off the rest or modify them to match the top-performing ads. Oftentimes the cost of low performing ads is very high, so it is best to deactivate the lowest performers.
Rotate Ads and Create a Custom Landing Page
Fresh content is the secret to better acquisition, so you must rotate ads frequently (once in every three to five days) to avoid ad fatigue. This is also one reason why advertisers are recommended to create multiple variations of an ad.
If your audience sees the same ad for too long, they will be reluctant to click them. So you must keep the ads fresh and engaging to ensure a maximum click-through.
One more way of increasing the conversion rate is by creating a custom landing page. Social media advertising is a two-step method where the audience click on the ads and then they are diverted to a custom landing page where they can perform the necessary actions.
For best results make sure the landing page is mobile friendly and includes only one CTA. You must also ensure that the landing page is highly targeted for maximum lead conversions.
Optimise Ads for the Mobile Traffic
Facebook generated $17.65 billion in ad revenue in the third quarter of 2019, 94 percent of which came from mobile ads. 88 percent of Twitter’s ad revenue is generated through mobile advertising in the same quarter.
Social media is highly consumed via mobile devices – Facebook users spend 68 percent and Twitter users spend 86 percent of their time browsing these social platforms on their mobile devices.
The simple interpretation of this is that social media ads are viewed on mobile devices as well. So you must optimise the ads for small screens.
Social media offer numerous opportunities for online marketers in terms of organic reach as well as paid advertisements. So if you still haven’t tapped into the feature, you must start considering it right away.
A number of businesses, both big and small, have benefited a lot through social media ads, so now it’s time that you get on the social media advertising bandwagon.
By implementing the above-mentioned tips and strategies, you can improve the bottom line for your company. Now that you know how to use social media ads, it is time to engage your audience and drive more conversions.