If you’re looking to familiarize yourself with a cutting edge social media strategy, or just looking to brush up on the basics, read our 5 Top Reasons to Advertise on Social Media:
Target your employees
The most essential step in maximizing your marketing communications strategy is knowing your audience and getting your message across to the right people.
By defining demographics such as language, location, age, gender, and psychography such as interests, social status, and political opinions, companies have the power to refine their B2C and B2B lead generation strategies to get their messages across to their ideal customers.
CPM vs ROI
The low cost of entry into digital advertising makes it a smart choice for businesses at all levels. The cost of traditional advertising can range from $ 300 to $ 100,000 depending on the medium. Social media through sponsored posts has significantly lower costs, with a Average CPM of $ 4.33 overall, it offers the ability to communicate with your ideal clients without blowing your budget.
Alternatively, brands can create content on Instagram, LinkedIn, Tiktok, and Facebook for free, providing significant value at no cost.
However, having your target audience narrowly defined is essential, especially if you are in Australia, as the country has the highest CPM fees in the country. digital space at US $ 6.40 as of 2018.
Diversity of messaging and brand
In addition to the Big 4 platforms of LinkedIn, Facebook, Instagram and Twitter, the recent boom in Tiktok and the launch of new SM platforms such as Clubhouse and Twitter Spaces offer unique ways to interact with your consumers at a brand or personal level.
Given the video content dominance on most platforms, there has never been a better time to showcase your brand personality and allow consumers to connect with your organization in a genuine and authentic way that avoids the awkwardness of an advertisement. secondary sponsored on Facebook.
Alternatively, the launch of the audio-only social media site Flag brings the potential to develop unique, personalized and engaging marketing strategies in an experimental and innovative medium.
Monitoring, analysis, information development and future planning
One frustrating thing for many businesses is the guesswork that goes into the marketing strategy review process after an ad campaign ends.
While businesses can get a feel for a campaign’s performance on sales and website analytics, the accuracy offered by social media sites is now unprecedented. Facebook, Instagram, LinkedIn, and even Tiktok all offer built-in analytics and data collection that give you all the information you need to develop actionable insights and effective marketing strategies.
From bounce rate and downtime, pageviews, likes, and engagement, your business has the ability to fully harness the power of your own data for free.
However, it is essential to have experienced people reviewing the campaign process, because operating on information without the right people to analyze it, can result in huge sunk costs.
Darwinism at the enterprise level
While social media does not guarantee “winner takes all” dominance in digital advertising, an immediate threat to brands that choose to ignore social media runs the risk of disappearing from the set of considerations.
Co-founder of the $ 745 million Buddy Media organization, Jeff Ragovin captures the trend that created and broke businesses: “Brands that ignore social media… will die. It’s that simple. «
With 90% of consumers by using social media to interact with their brands in one way or another, the potential for value creation and conversion is ultimately in the hands of those who want it.