If you’re a business owner or entrepreneur looking for success in the modern business world, you probably already know the importance of digital marketing. Consumer habits point to online platforms for the most effective advertising.
One of the most important platforms for digital marketing is social media. The vast majority of Americans use at least one form of social media. Furthermore, the average social media user spends almost two and a half hours on social media every day.
As such, paid social media advertising can be incredibly lucrative for your business. We want to help you find success. Keep reading for seven things you need to know about this fantastic marketing strategy.
1. You Can Choose Exactly How Much Money You Want to Invest
Paid social media advertising is ideal for small business owners and new entrepreneurs because it allows you to choose your daily, weekly, or monthly budget. You can decide how much money you want to spend on social media advertising down to the dollar.
How much money you devote to advertising per day affects how many people see your ad in their feeds. The more money you spend, the more people will see your ad each day.
This allows you to spend a few months running ads with a limited budget to determine if the strategy is worth investing more money into.
2. You Can Decide Who Sees Your Ads
One of the biggest concerns about social media advertising costs is targeting. Business owners don’t want to spend their hard-earned money on marketing ploys that fall on deaf ears.
Fortunately, paid social media advertising allows you to choose your target audience based on several factors. These factors include:
Furthermore, social media apps use tracking cookies to follow their users and learn more about their interests. Based on what the user is looking up, following, and engaging with, it will place your ad in front of the appropriate audience.
3. Paid Social Media Ads Provide Valuable Feedback
The only way to grow and become more successful as a business owner is by learning. You must pay attention to what you’re doing right and what you’re doing wrong. By monitoring the results of your advertising campaigns, you can perfect your marketing message and define your ideal customer.
Paid social media advertising tracks each individual ad to provide you with valuable feedback. You’ll learn:
- How many people saw your ad
- How many people engaged with your ad (likes, shares, comments, link clicks, etc.)
- The specifics of the people who engaged with your ad (age, gender, and other demographics)
- A breakdown of ad performance based on the day of the week and the time of day
This feedback is vital for improving your advertising success. The more effective your ads are, the higher your ROI will be and the less money you’ll need to spend on marketing.
4. You Can Run A and B Ads Simultaneously
Learning how to market your business successfully is one of the hardest challenges of being a business owner. It takes time, consistency, practice, and trial and error to learn what your target market will respond to.
Social media advertising allows you to run A and B ads simultaneously to experiment with different styles, types of media, and marketing messages.
For example, you can run one ad that’s comical and another that’s more informative and serious. Using the feedback we spoke of above, you can determine which ad provided a better return on your investment.
Alternatively, consider using the exact same ad and targeting different demographics of consumers. This can help you narrow down your target audience to make sure you’re spending your advertising budget on consumers who are receptive to your message.
5. You Can Use Templates or Completely Customize Your Ads
Regardless of what type of business you own, no one expects you to be a skilled content creator (unless you are a content creator). Therefore, if you’re worried about creating ads on social media, it’s completely understandable.
Fortunately, there are options for people in your position. Paid social media advertising provides ad templates to help you create professional-looking ads.
All you need to do is choose the picture, marketing message, font, and alignment. It’s much easier than you might think. However, for more experienced marketers, you also have the option of customizing your ad and uploading it to the desire social media platform.
This flexibility also includes your ability to choose what type of media you’re using for your ad. For example, you can use an image overlayed with text or upload a video you’ve created yourself.
6. Paid Social Media Ads Can Include Influencer Marketing
Influencer marketing is one of the more modern social media advertising examples. This is an “outside the box” form of paid social media advertising. In this strategy, you’re paying a social media influencer instead of the platform to promote your products or services.
Find a social media user who’s considered an influencer on the platform. Depending on the platform, this could mean having a following of anywhere between 5,000 and millions of followers.
The ideal influencer aligns with your brand. This means their audience will be receptive to your products and services. You can pay the influencer for a post or trade them free products or services.
7. Paid Social Media Advertising is a Fantastic Way of Expanding Your Reach
Finally, learning how to advertise on social media is essential for increasing your brand awareness. Many business owners struggle to thrive in their industry because consumers simply don’t know about them.
Paid social media advertising allows you to reach out to a wider audience to let people outside of your followers know about your products and services. While organic social media posts are free and can be effective over time, paid ads give you an immediate boost in awareness.
However, it’s essential to continuously research each platform’s advertising algorithms, as they change regularly. Other things, like mobile device updates, can affect your advertising. For example, read this guide to see how Apple’s IOS update will impact your advertising on Facebook.
Ready to Invest in Paid Social Media Advertising?
Are you ready to look into paid social media advertising for your business? As you can see, there are a lot of benefits of this type of marketing. Start slow with a small budget to learn the ins and outs of the platform you’re using and discover more about your target audience.
And if you want more marketing tips, check out some of our other business articles before you go. Our blog is full of valuable information for entrepreneurs like you.
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