Tracking just how beneficial paid advertising is on social media has been rather difficult for marketing teams. That’s because each platform is very different, and each one provides its own way of collecting and analyzing data. However, that’s not to say that social media advertising is entirely unmeasurable. In fact, in the first quarter of 2020, click-through rates for social networks reached approximately 1.3%. While that may not seem too significant, it’s essential to keep in mind that the average email click-through rate is only 2.5%. So, what are the benefits of paid advertising on social media? Is it worth the effort and investment?
What is Paid Advertising on Social Media?
Paid advertising on social media is defined as a marketing method that displays advertisements or sponsored content on various social media platforms. These advertisements are pretty easy to identify as they’ll either have some form of tag that reads “sponsored” or “ad” on them.
For instance, on Facebook, paid media often comes up as sponsored content, whereas Instagram users must label their ads as an ad in the comments or elsewhere on the post.
Why is Paid Advertising Important?
While a lot of marketing teams like to focus their attention on organic posts, paid advertising is also important because it allows you to hyper-focus the target of your message or content. In other words, you pay to place your advertisement in front of certain people.
How is Social Media Used in Advertising?
Social media is used in advertising as a way to reach your ideal audience further. Think about it, the average adult in the United States spends approximately 38 minutes a day scrolling through Facebook, while those between 16 and 24 years old spend an average of three hours a day on various social media platforms. So, it would only make sense to advertise on the platforms where your audience is spending most of their free time.
Is Advertising on Social Media Effective?
Social media advertisement doesn’t always get the best reputation because it’s not only difficult to monitor for success, but approximately 74% of social media users say that there are just too many ads out there. Another 44% of these users say that most ads are irrelevant to their particular wants and or needs. And yet, recent surveys show that social media advertising will rise by approximately 21% to hit a total of $49 billion.
Which Social Media Platform is Best for Advertising?
When it comes to deciding which social media platform is best for advertising, it’s really going to come down to who your audience is.
For instance, a good majority of the younger generation spends most of their time on Instagram, where it’s easy for them to find new products by scrolling through their feed.
On the other hand, the older generations are typically seen spending their time on Facebook. If your products or services are more tailored to the adult or older generations, you may have better luck advertising your products or services there.
2 Major Benefits of Paid Advertising on Social Media Worth Noting
If you’re still on the fence as to whether or not paid advertising on social media is worth it, then you’ll want to check out these two significant benefits:
1. Lead Generation
With approximately 81% of shoppers now conducting online research before buying a product, it’s never been more critical to have a social media presence. When it comes to making an online purchase, recent studies have shown that approximately 90% of consumers are more willing to make a purchase from a brand that they follow on social media than any other brand.
Why? Because social media requires brands to prove their products/services are worth paying for. Social proof has exploded since marketing teams realized that consumers trust fellow consumer’s recommendations over others. Written testimonials are great. However, when there is an opportunity to share a consumer’s photo and their thoughts – even better! It puts a real face to the words being claimed.
2. Learn More About Your Ideal Audience
While each social media platform has a slightly different analytics setup, it still provides businesses with the opportunity to see who is clicking their ads and access their more personal information such as their location, age, interests, etc.
This is a unique opportunity to gather information about your ideal audience members, one that you don’t get quite as easily anywhere else.
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Social media plays a crucial role in any viable digital marketing strategy. If you’re struggling with bringing your ideas to life, then why not consider a free digital marketing consultation with a team of professionals that can help tell you where your strong points are and where you could use some improvements?
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