In the modern era of technology and the internet, the approach businesses use to reach their target audience has fundamentally shifted. Ad is no longer solely bound to traditional channels such as newspapers or television; instead, it has permeated into the realm of social media. Leveraging social media platforms for ad has become a game-changer for businesses of all scales. Below are some strategies to maximize ad dollars in this social media age.
Understanding The Audience
The audience is the group of people who will see your ad. The more people who see your ad, the more you can charge. Understanding your audience is important because it will help you choose the right type of campaign to run, so you can make sure that what you’re advertising is relevant to your target audience.
Quality Over Quantity
If you think about it, social media is a lot like dating. You are trying to get people to notice you, and you have to be careful not to spam people with too much information. If you do that, you’ll just get ignored—and nobody wants that!
So how can you tell if your social media strategy is working? Use the quality over quantity metric: if more people are engaging with your content than ever before, then it’s working!
Video Content
In this digital age, video content has demonstrated high engagement rates. Investing in video content can be a cost-effective approach for an ad campaign.
Platform-Specific Strategies
Not all social media platforms serve the same purposes, and therefore require different advertising strategies. Understanding the nuances of each platform will allow for more efficient use of ad dollars.
Track Your Campaigns
If you’re going to put your money where your mouth is, you want to make sure you’re putting it where it will matter most. That’s why we recommend tracking your campaigns.
There are a few different ways to go about this:
- Measure real-time results of each campaign in terms of impressions, clicks, and conversions
- Establish benchmarks for how your ads perform so you can determine when they’ve outlived their usefulness and need to be retired
Utilize Influencers
One of the best ways to utilize ad dollars on social media is by working with influencers. Influencers are people who have a large following on social media and an audience that relates to them. They can be used to advertise a brand or product, but they also may be able to help you increase your followers or likes. It’s important that you choose the right influencer for your brand or product, because if they don’t fit with your target audience, then it could turn off potential customers instead of attracting them.