Paid social media advertising is fairy new. And studies show social media marketing budgets will double in the next five years. Organic social media growth has died down where paid social has grown.
Sprinklr released a resource for brand managers and marketers called “Everything You Need To Know About Paid Social” to help marketers understand how paid social can fit into their marketing mix, what ad types to invest in and how to determine which platforms to use.
Display ads and promoted posts are necessary and essential to social marketing.
Facebook, the biggest network, introduced paid social media ads in 2004, changing social media landscape dramatically.
According to Hubspot, 92% of all marketers in 2014 claimed social media marketing as important to their business with 80% indicating their efforts increased traffic to their websites.
Listed below are five (5) things you should know about paid social.
- Paid social media is the only reliable means of building a targeted audience.
It offers an advantage in exposure, targeting, analysis, scale and eventually ROI. Paid social also allows for powerful targeting and analysis.
- With the growth of social networking, it’s necessary.
Paid ads on social networks have better conversation rates than organic content. For many, it’s a marketing frontier some competitors have not entered yet.
- Include paid social media in your marketing budget.
Paid ads on social media require a big investment. Analyze your social media activities. It may even be a good idea to hire a social media employee or team, depending on the size of your company. Remember that analytic are instrumental to the success of your paid social media ads.
And keep everyone in the loop on your social media marketing efforts. It is beneficial for everyone to be kept informed, as they could also be included in brainstorm sessions.
- Don’t just focus on Facebook.
Although they were the first to introduce and use paid social media marketing, there are other social networks to advertise on. Twitter and LinkedIn are great for businesses to advertise on too.
And don’t forget about Instagram. They have become the fastest growing social network in the world.
- Start small and keep it classy.
Do some research; decide which platform is best for your products and/or services.
Know who you are trying to target and check into target options that will work best for you. Think strategically.
What is working for one company may not be what is best for yours.
Decide where you want your ads to show, know your audience.
And watch your results.