Globally, over 3.6 billion people use social media. That number is only projected to increase in the coming years, with experts estimating 4.41 billion users by 2025.
If your business isn’t investing part of its marketing budget into running social media campaigns, you’re missing out on literally half the global population’s eyes and ears.
No matter your industry, there’s something for everyone when creating online ad campaigns. Here are five reasons why your business should be generating paid content on social media. As well as how to tap into your target audience for maximum conversion.
1. It’s affordable
Wondering how much it costs to run a social media ad campaign? The answer depends on a few factors. Though, most businesses spend 20% of their overall marketing budget on advertisements across a variety of social platforms.
The dollar amount you choose should depend on a variety of factors. This is including the amount you’re willing to invest in each CPL (cost per lead).
Starting at just $1 a day, businesses can run ads on Instagram and gain knowledge of user impressions. For $5 a day, that same business can gather information on click through rates, engagements and total views.
In the end, though, it doesn’t matter if you have $5 or $50,000 — social media advertisements can accommodate just about any budget.
2. You can market directly to your target audience
It’s no secret that different age groups spend more or less time on certain social platforms — and part of sharpening your ad strategy is understanding where your target demographic is spending most of their time.
Here are the latest trends from Pew Research showing the demographic for each social media platform. On the whole, moms and dads love Facebook, your 35 year-old aunt loves Twitter, and your Gen Z cousins are creating content on TikTok, Instagram, and YouTube.
Knowing this data, think about your industry. Are you in real estate? It’s safe to say that no one in the 14-19 age bracket is going to be hitting you up for a home (yet). Consider spending some money on a set of engaging Facebook ads or hosting an online event and marketing it on your business’s Facebook page.
Are you leading a cosmetic, wellness, or retail business? Hop on TikTok or Instagram and livestream an unboxing of your latest merchandise with a few giveaways thrown in.
3. It allows you to gather data on your customers
Every time a person clicks on your social media ad, you are gathering data on their online behavior. This data can help you build effective sales funnels, refine your sales strategy, and create highly personalized content that meshes with the interests of your ideal customer.
Yes, it’s true you’ll need to spend more to access this information, but it’s worth it. The more you can learn about your customers, the less you’ll have to spend casting a wide, undefined net. Refine your approach, appeal to your audience, and watch as the conversion rate increases.
4. It drives customers to your website or landing page
All social media platforms give you the opportunity to determine where your audience goes once they click on your ad.
Do you take them to a product page? A trial sign-up? A newsletter? Decide what action you want your audience to take in interacting with your ad, and make the call to action crystal clear.
In addition to visually spreading the word on your product, ads help funnel people to your website, where you have the potential to capture them in a sales funnel—allowing your initial impression on their feed to be the first of many.
5. It helps you expand your reach
If you only ever sold to people in your immediate network, you would very quickly run out of leads. Social media ads keep leads fresh and give you access to thousands of people globally who would otherwise never hear about your business.
Once you know your target audience, use ad campaign managers to plug in gender, age and geographic information to put your ad in front of the people most likely to take action.
As your ad circulates, you’ll gain insight into how it performs, allowing you to tweak and change details in order to drive the optimal number of people to your website — and, ultimately, a sale.
At Goalpost Group, we help our clients break the cycle of bad marketing uAt Goalpost Group, we help our clients break the cycle of bad marketing using strategy, structure, and killer content that drives sales and wins the day. Get in touch with a member of our team to learn more about how we can help transform your marketing.