Social Media Ad Spend…Worth it or Not?
Have you been longing to get your brand in front of that very elusive 13-34 demographic? Are you trying to focus your marketing efforts to spark positive dialogue about your brand? Strategic use of social media advertising could be just the ticket! You should be collaborating with your digital marketing agency to determine where your customers are being engaged, how to reach them where they live, and how to best spend your ad dollars to produce the results you’re looking for.
Here’s a checklist for how to get started. Expect to pay your agency to help set up and implement your strategies:
- Initial setup of your social media account. (one-time cost)
- Strategy for posting content and managing the account. (one-time cost)
- Scheduling posts and reviewing analytics. (monthly cost)
- Create content for ads and posts. (monthly cost)
- Reporting the success of campaigns and recommending next steps. (monthly cost)
Don’t forget to factor in your ad spend. Your ad spend is the budget you will allot every day/week/month to your campaign. Fortunately, this budget can be controlled with precision, but these costs are on top of what you’ll pay your agency for creative work, implementation, and management.
“The Strata [a unit of Comcast] survey asked 83 advertising agencies which social platform their clients preferred for social media campaigns. Sixty-three percent of advertisers said they were most likely to use photo-sharing app Instagram, compared with 56% who said they would use social network Twitter. Facebook dominated, with 96% of advertisers saying they were likely to use it.”
– Fortune.com in a June 10, 2016 article about how Instagram is surpassing Twitter in ad spending by marketers.
The experts all agree if you’re not advertising on Facebook, then you’re not promoting your business to its fullest potential. That being said, you can, and should, target your customers in multiple channels simultaneously. If your brand is centered around compelling imagery then Instagram may be right for you. Catering to business professionals? LinkedIn is a powerful marketing partner. Company services and products can be retooled to take advantage of the YouTube platform. Want to engage millennials and Gen Z but don’t know where they are? Don’t worry, we can explain Snapchat to you so you can reach them too.
Engagement is the name of the game and reaching your customers where they are happiest and spending most of their internet time is the best way to engage them. Your marketing partner should help you to leverage your existing content and to create new, original stories that your current brand loyalists and future customers will like, share, follow, subscribe, view, pin, double-tap, and retweet.
Of course, none of this makes sense without analytics. There are literally hundreds of ways that campaign statistics can be presented and carved up to reveal user insights. We recommend hiring marketing professionals, either for your staff, as consultants, or as your marketing agency, to sift through the stats and focus on the sweet spot opportunities most aligned with your target goals. Once you understand the data, you will be able to make informed decisions about what should be shelved and what should be amplified to satisfy your business goals.
Contact Executionists for a free social media marketing consultation and discover the possibilities that are right for your business.