This week for #MarketingMonday we’ll be talking about the rising costs of using social media ads in your advertising, and how to navigate these changes in the market.
It’s not a secret that social media advertising has become an effective method of gaining awareness. Because of this, some businesses spend around half of their marketing budget on digital advertising.
Social media provides an effective way to reach your target audience. But more businesses are getting in on the action. This increase in volume means that the costs of social advertising are rising.
Therefore, you need to be strategic in the way you advertise online. It is not enough to simply boost a Facebook post and cross your fingers. First, have a plan and know who your target audience is. Look at your past posts/ads. Generally, ask what type of posts your audience reacts to best? This will help you create meaningful content.
Dig into what demographic likes your content and read up about them. Find out what platforms they gravitate towards most, and what keywords get them clicking. Research the best time of day to have these ads run. A stay-at-home mom or nine-to-five office worker will have a much different media consumption schedule than a shift worker.
Finally, this increase in costs will force companies to evaluate their choices. They will have to pick between adding to their social media budgets or finding new channels to drive brand awareness.
However, this obstacle may help you get to know your audience even more. If you can target who your audience is, what they want, and when they want to hear about it, you’ll be even better equipped to service them in addition to reaching them more effectively with your social media ads and ad campaigns.
Feel free to get in reach out to our digital team. To schedule a free discovery call.
