Your marketing strategy is critical to running and growing a successful business. Every brand is different and the same should go for your marketing approach. There isn’t one solution that’s going to work for every company and product.
This brings us to the topic of social advertising. While there are many advertising tools and tactics available to marketers, social advertising is one that’s undeniably controversial, challenging and intriguing, all at the same time. Explore what defines social advertising and the pros and cons of using it as part of your marketing strategy.
What is it?
If you haven’t noticed, social advertising is ruling the internet marketing and advertising industry. Given the numerous social media platforms and the unpredictable landscape, it can be difficult for companies to decide how to begin and where to advertise.
A good place to start is to determine and consider your brand’s goals, budget, ad content and industry. Decide if you’re willing to invest time and money to increase your branding and boost your business using the right platform, demographics and keywords at the right time. According to the Altimeter Group, Advertisers spent $5.1 billion on social media advertising in 2013 and this figure is expected to exceed $14 billion by 2018. This alone should prove there’s some value in running social ads as part of your marketing plan.
You need to understand how each platform functions, for what purpose and that networks sell ads in different ways. Your goal is to drive authentic and valuable prospects to your site and for them to take action on your ad and website, not just to increase views. Keep this as your main focus as you work on the ad creative.
Like anything in life, there are pros and cons to tackling social advertising. If executed properly, social advertising has the ability to greatly and positively affect the bottom line. Below is a list of pros that’ll help you determine if you think it’s worth giving it a shot.
- Flexibility to set your own budget and change it whenever you want.
- Ability to target specific audiences and reach specific customers searching for a product/service.
- Increase brand awareness and bring attention to specific or new products.
- Users can interact with the ads.
- Monitor and track results by platform and specific ad.
Even though the pros sound enticing, you should review the cons and weigh the risks. See a few of the downsides to social advertising in order to determine if it’s the marketing solution for you.
- Search engine ranking will diminish if you terminate your Google ads.
- Social platforms are constantly changing and updating and some can be difficult to learn.
- You need to have the resources to create high-quality ads, including images and copy.
- Pricing structures and minimums vary, so it can be costly to maintain.
- Your organic posts and content may suffer due to the social platforms favoring paid ads.
As you can see, there isn’t a clear formula for successfully executing a profitable social advertising strategy. To succeed with social advertising, it takes time, resources, research and trial and error, to launch, maintain and monitor. It’s an investment that needs to be constantly managed and easily adaptable. So now it’s time to ask yourself, is it worth it?