We can observe massive increase in number of social media users on various platforms from past few years. With daily increase in mobile owners around the world, social media users are also increasing. In recent time, social media is emerging as one of the most powerful tool in the field of digital marketing. It has unlimited potential. For this reason several companies are allocating one fifth of their advertisement budgets in paid social media advertising.
What is social media paid advertisement?
Paid Social media advertising is a method to display paid campaigns on various social media platforms.
Different social media platforms specialises in different types of content. Twitter is most commonly used for short messages, printrest is famous for infographics, instagram is used for heavy visual content, linkedin has features for professionals and facebook is popular to have its own marketplace for shoppers.
Any post or content on which you can observe “sponsored” or “paid” are paid social media advertisements.
Benefits of paid social media advertising
There are various advantages of paid social media advertisement. Some of them are
- It helps you to reach new audiences at huge scale from around the world.
- Can help you to grow faster as organic growth is time consuming and requires a lot of patience.
- Can lead to higher conversion rates by targeting and retargeting your audiences.
- Will help you to create brand awareness and to build brand loyalty.
- Increase in number of engagement on your content.
Challenges of paid social media advertising
With advantages comes several challenges. One should always keep in mind the challenges associated with paid social media advertisement before launching a paid campaign on social media.
Cost inefficient- One of the major drawback of paid search advertisement is that they are expensive because many companies are competing to gain attention of audience.
Right platform- Analyse your audience properly and on the basis of that analysis choose which platform is best suited for your product and audience. Choosing wrong platform can create negative impact in the minds of viewers.
High competition- As social media is gaining popularity on daily basis, several companies are utilizing this opportunity to expand or grow their business. Also it is easily accessable to all.
Determining right KPIs (Key Point Indicators)- It can be challenging to determine right KPIs for your campaigns. Some of the basic KPIs can be click through rate, conversion rates, engagement rate on your post or number of impressions.
Optimum utilization of budget- Allocate budget appropriately on various campaigns. Never under allocate or over allocate your budget and make sure to use this budget wisely.
Steps for creating a successful paid social media advertising
Paid social media advertising can be daunting as social media platforms keeps updating. But by following these steps one can succeed in lauching a paid social media advertising.
Setting a goal
Always determine S.M.A.R.T goals for your campaigns. S.M.A.R.T goals stands for s= specific, m=measurable, a=achievable, r=relevant and t=time bound. By determining a specific goal you can easily keep a track of your performance. You can create strategies in the right direction to achieve your targets.
Determining your target audience will generate more leads in less efforts. It is crucial for your marketing strategy to covert leads into sales..
Select best platform
Choose best platform on which you can find large number of targeted audience. Monitor their engagement rate. Keep in mind to post content specific to that social media platform.
Decide best ad format
There are various ad formats from which you can select best ad format according to your goal. Various ad formats includes image ad, video ad, stories ad etc. Choose right format for right audience.
Create your content
This is very important step. You can unlock your creativity skills to maximum to create engaging content. Relevancy is key to success in digital marketing. In case, your content is not relevant with your target audience then your conversion rate will be low or you will not get desired results.
Set a budget
After determining your goals, best social media platform, ad format and content, set your budget according to all these factors. You can easily draft budget after considering all these factors.
Create your campaign and launch
After allocating appropriate budget, create your ad campaign and launch. You can pre plan or schedule your social media calendar and also you can automate your ad campaigns to launch.
Optimize and analysize
Final step to create a successful paid social media campaign is to optimize and analyse your performance. You can take several measures to optimize your content such as make the content keeping in mind the algorithms of different social media platforms. Your set goals will help you to analyse your metrics and whether you are achieving your set goals or not.
Paid social media advertising can have a huge impact on your digital marketing strategies. Remember to serve your potential consumers what they want. Implement your strategies on right path in order to succeed.
Contact Digileap Marketing Services now to incorporate paid social media advertising to boost your sales. Connect with us at +91 9980160264 / +44 07384021657 or email at firstname.lastname@example.org