Jun 23, 2015
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Similar to how TV changed the print advertising industry back in the day, social media is changing the entire ad industry and how companies reach their target audiences.
Ten years ago many of the social media networks we use today, such as Facebook, Twitter and Instagram, were either non-existent or in their infant stages. While some may have predicted how successful these sites would become to network people with their friends, very few could have imagined that social media advertising revenue would reach $8.4 billion by 2015 with projections to grow to over $11 billion by 2017.
Ever since companies started using print advertising they have strived to put their messages where people were looking. Whether it was billboards, newspapers or magazines. The problem today is that while it may be easier than ever to reach your public, it has become easier for your public to skip, fast forward and block ads than ever. How many times have you DVR’d a show just so you didn’t have to watch any of the ads?
Creating Effective Social Media Ads
Companies are shying away from online “banner” ads which used to rule the online airwaves and tend to be blatantly obvious in trying to sell products. Companies are now switching to “native” ads or ads that look like an ordinary post.
The reason native ads are more successful is because people don’t log on to Instagram or Facebook to purchase products, they go on to see their best friends new kid, their ex’s latest vacation or to check out that cute girl/boy they’re too afraid to ask out. If companies can be effective with native ads they can gain trust, followers and likes which, as the numbers show, converts to sales.
Targeting
Because social media platforms gather extensive information from its users, it is easier to target your key publics in a wide variety of ways. Not only can you find your audience based on their geographical location or demographics but you can narrow it down based on their behaviors. This allows you to connect with them in ways not possible in a regular print or TV ad.
There are four strategies social media sites, like Facebook, use to target perspective publics.
Interest targeting: This is when you reach people based on their reported self-interests. For example, if someone “likes” mountain climbing and your business sells some of the best climbing gear around, this will help you reach out to them.
Behavior/Connection targeting: Behavior targeting allows you to find people based on their purchase history and connection targeting allows you to reach people who have a specific kind of connection to your business or industry.
Custom targeting: Is when you reach publics by uploading their personal information (emails, phone numbers, usernames, etc.).
Lookalike targeting: Is a way to reach new people who are likely to be interested in your business because they’re similar to customers you care about
Don’t worry if you feel you aren’t taking advantage of the power of social media marketing, you are not alone. Many companies are just getting started or have yet to join the party. Contact us today so we can show you how we can maximize your social media efforts and increase your brand awareness.