Social media is a good old friend for those who enjoy connecting with the world. It is that friend that gatekeeps news, industrial trends, social connections and in the recent past, branding. This is why social media advertising budgets are estimated to reach $380 million (Statista).
Organic reach and paid reach come with their own benefits. While organic reach relies on algorithms and consistency, paid reach relies on accuracy and frequency to reach the right audience at the right time. The main advantage of paid social media advertising is undeniably the speed to market and the visibility frequency with sustainable campaigns.
Does that sound all gibberish to you? Well, if you are a business owner that handles a team of marketers or have partnered with a digital marketing agency, you should know the basics of social media advertising. In this blog, we’ll go through what is social media advertising, the elements of a paid social media plan, and the best social media sites for paid advertising.
What Is Social Media Advertising?
If you know the difference between social media and digital marketing, you also know that social media marketing is an offshoot of digital marketing. Just like Google ads, social media ads are run on social media platforms such as Facebook, Snapchat, Instagram, Pinterest, and YouTube, to name a few.
Through the popular social media platforms that people use, marketers and advertisers can raise awareness of their businesses and encourage purchases. Each social networking platform is unique. Facebook has its own marketplace for avid shoppers, Instagram mainly emphasises visual content (though the platform has introduced DM-based shopping tools), Twitter provides short-form content, and LinkedIn is the preferred platform for networking experts.
Examples of paid social media include pay-per-click marketing, branded or influencer-generated content, and display ads. Based on the “sponsored” or “promoted” tag next to the post, you may identify paid social media advertising when you encounter one.
If you are new to the idea and concept of social media advertising, take the help of a social media marketing agency to help you benefit from it.
What Is The Cost of Social Media Ads?
Social media advertising is priced according to the length of the campaign and the potential number of impressions you’ll be aiming for, unlike traditional media ads, which are priced according to the length of the spot and the time the ads will show.
This gives these kinds of ads a lot more advantageous performance indicators to track than traditional ads, which can only hazily track cost per million impressions: cost per acquisition (CPA). If you go in for pay-per-click ads, you only have to pay for the time a user clicks on your ad to visit your website or landing page. This makes paid ads a less costly endeavour.
Due to the bidding process and lottery system, some platforms place advertisements in users’ news feeds directly or in between stories. Regardless, paid social media ads can start as low as $1. The amount you can spend on this kind of advertising is essentially limitless, but you can set a cap to prevent the campaign from going over your allotted budget.
Which Are The Most Popular & Best Social Platforms For Paid Ads?
Without a doubt, Twitter will be among the greatest and most popular social networking sites in 2022. DataReportal estimates that in 2022, there will be 465.1 million active Twitter users, making it one of the most popular social media networks.
Twitter’s platform gives you the ability to target your choice of demographics. Here is a breakdown of what the costs may look like to run ads on Twitter:
- Twitter sponsored advertising typically costs between $0.25 and $2 (about Rs. 19 and Rs. 160) per click.
- Twitter follower advertising typically costs between $2 and $4 (about Rs. 160 to Rs. 320) per follow.
- The daily average cost of a Twitter takeover is roughly $200,000 (Rs. 1,59,27,003).
Twitter can be a great platform to benefit from paid advertising. However, because the platform supports only bite-sized content, your content team needs to be smart in striking the balance between copy and content. Take the help of a content writing agency to help you with creating ads for Twitter.
You need a business profile to run advertisements on Instagram and to set up an online store from within the app. (That’s good if you’re trying out e-commerce for the first time or don’t have a website ready to accept payments.)
You’ll be running advertisements simultaneously on both platforms because Facebook owns Instagram, and they’re all handled on Facebook. You can select an Instagram Ads ad expenditure starting at $1 that fits within your financial constraints. This sum is dependent on the campaign’s duration and the size of your audience.
Use Facebook Targeted Ads while running Facebook advertisements. The bidding system used to power this feature allows advertisers to place bids on a variety of ads based on their selected target market.
Following that, that bid will be entered into a lottery with a chance of being chosen and shown to that audience. Based on geography, interests, demographics, and other factors, Facebook advertising can reduce an audience to just a few hundred people. And while most huge organisations might not benefit from that, it could mean the difference between a slow month and a day with a sold-out crowd for a tiny firm.
According to LinkedIn Marketing Solutions, there are 740 million professionals, and four out of every five of them are responsible for making business decisions, including purchasing decisions. A B2B advertiser’s fantasy has come true with this. Millions of professionals have discovered their ideal job, a plethora of professional connections, or both on LinkedIn. You may connect with thousands of business decision-makers, hiring managers, and thought leaders in your sector using the platform.
Depending on the nature of your business and the type of social media platform you choose to run social media advertising campaigns, you can take the help of a digital marketing agency to integrate your ad campaigns across social media and digital platforms.
The fact is that social media platforms give both big and small businesses access to advertising. You’ll have a lot easier time demonstrating the ad campaign’s ROI to your stakeholders after you learn how to design, create, and position your advertising to appeal to your target demographic.
All the best!