Paid Social Media Advertising: Is It Worth It?
Paid social media advertising is a practice of placing an ad on popular social media platforms and targeting a particular demographic to ensure it reaches the audience of your interest.
Every social media channel is different, and your digital marketing strategy will vary between the platforms. In this article, we are going to try to figure out whether social media marketing is worth it for you, and list some of its benefits and drawbacks.
Let’s start off by looking at some key stats on social media marketing. According to Statista, there are currently 4.14 bn active social media users worldwide. In addition to that, the global social penetration rate has reached 49% in 2020, and is the highest ever recorded. Needless to say, social media plays a huge role in our lives and as a result, a huge role in the way businesses set up their digital marketing strategies.
If you know how to use social media marketing correctly, it will bring about a wealth of great benefits. Below, we are going to discuss some of the major advantages of using social media in your digital marketing strategy:
1. You can increase your reach
It is no secret that social media advertising is so popular because it can give your brand great visibility. However, because of the way social network algorithms have changed, reaching your target audience through social media organically is not that straightforward. The good news is, paid social ads can boost your visibility, extend your market reach, and ensure that your content receives the engagement it deserves.
2. It fits any budget
Paid social ads can be expensive. Fortunately, most social platforms offer ads on a pay-per-click basis meaning you will only pay if a user clicks on the ad. All in all, this is a cost-effective way to promote your business on social platforms.
3. You will maximise your brand awareness
Social media has revolutionised the way that modern businesses market their products and services. When used correctly, social media can build brand awareness, drive traffic to your website, and boost sales revenue as well as attract new eCommerce clients. You can utilise social channels like Facebook and Twitter to connect with your intended audience and build meaningful relationships with your customers.
4. Not having a retention strategy
You could have the best product in your industry, but no one is going to buy it if they don’t know it exists. Social media advertising solves this problem for your business, particularly with the use of paid social ads. Naturally, if a customer does not know about your product, they will not be searching for it online. Social ads solve this problem by popping up on your target customer’s screen whenever you programme them to. This is a win-win situation. You are potentially gaining a new customer and they, in return, are gaining a value added product or service.
“But why should I pay to share my content on social media platforms?” – you may ask. Well… because organic reach on social networks continues to fall over the years, and as a result businesses choose to invest in this cost-effective path to get their product or service out there on the market.
If you have been convinced to use paid social ads for your business, check out Neil Patel’s blog on how to seamlessly integrate paid social ads into your digital marketing strategy to make sure you are fully equipped for this journey to success.