Social media is ever evolving. To stay relevant and complete, small business owners must make sure that they stay up to date with the latest trends on social media. Currently, the trend is ‘pay to play’, utilizing social media advertising.
In order for social networks to deliver a better experience to their consumers they have begun to tailor their algorithms to show users content that they are interested in. This means that the content published by a business may not show up as much on users feeds as it once used to.
Social media advertising is the solution to this.
The State of Social Media Advertising
To get a picture of why it is necessary to engage in social media advertising if you are a small business, here are a few stats:
- Social media spending in the U.S. alone is expected increase to $17.34 billion in 2019 (Hootsuite).
- In 2016, total Promoted Tweet engagements were up 91% year-over-year—much higher than traditional banner ads (Hootsuite).
- Facebook has 6 million active advertisers (AdStage).
- 75% of Instagram users take action, such as visiting a website, after looking at an Instagram advertising post (Shopify).
- Promoted tweets have been attributed to a 29% increase of offline sales (Twitter).
Why Optimization of Ads is Important
As a small business owner, you may not have an expansive budget to spend on social media marketing, let alone advertising. Social media ads can be easy to lose money on, due to improper targeting and lack of management. This is why it is important to properly optimize your ads to maximize your ROI.
How to Create Well performing/Optimized Ads
There isn’t just one way to have successful social media advertising campaigns. However, there are some consistent steps that you can take in order to increase the chances of having a positive ROI. The following is not a comprehensive list, but it is a good starting point to get your social media advertising campaign on the right path.
Consider Your Audience
Marketers can avoid wasting money by clearly identifying their audience. A clearly defined audience allows marketers to:
- get the marketing message in front of the optimal audience.
- to choose the best social platform to reach their intended audience.
Consider Your Stages
Make sure that no matter what you are doing for your social media campaigns you consider the stages of the social media advertising funnel. The three stages include:
- Awareness (Top-of-the-funnel or TOFU)
- Consideration (Middle-of-the-funnel or MOFU)
- Conversion (Bottom-of-the-funnel or BOFU)
Understand How Ads Work on the Platform you are Utilizing
All social media advertising is not created equal. Some platforms have different policies then others and all have a unique set up process. It is important for the social media marketer to have a solid understanding of how the advertising works on the social network they want to advertise on. One way to do so is to research comprehensive guides to advertising on each platform.
Learn About Bidding
You have put a lot of work designing your social media campaign. It is also important to put the work in to optimize bidding. If you do not properly learn and manage bidding on social media ads, there is going to be a loss of efficiency of ads and potentially a loss of ROI.
To learn about Facebook specific optimization, check out this video by Social Media Examiner.
To learn more about how you an utilize social media for your small business check out our Small Biz section of our blog!
Category: Small Biz, Social Media Marketing 201