Minimize the Marketing cost with Social Media
Starting with the statistics, Seventy percent of marketers are expecting to spend more on social media ads in 2016 than in 2015. The remarkable contribution is of 33.5% of global increase on expenditure on social media advertisements this year, collectively making the spending of over $23 billion. Surprised enough? This is just a close approximation there are more to go!
Now you will be wondering how to do that! Let’s take a break from business talks and exemplify the situation. Consider your social media advertising like slot machines of casino. A small change is added over the time. And if you’re not paying attention, a few quarters will add up to dollars and at the end of the game, you will be wondering why your wallet is empty. Try other options to make money instead of slot machines, try blackjack table!
What we learned from this example, if a campaign or social media platform is not successful then go for the other campaigns or other social media platform.
Look out for these ways by which you can decrease the cost of your social media advertising
Organic testing of Ads
“Count your chicken before they hatch“
Well, organic testing is the easy way to reduce the cost of your advertising; this can be done through these examples.
• Choose your best content
• Create several variants of your ad, with various messaging and images
• Publish these variants to your social media profiles at the similar times with the interval of weeks
• Track your highest engagement content
• Use top performing posts without any changes as your social ads.
65% of the small businesses had a website by 2011. Frequency of updating the website varied from changing the content of the website once a week, once a month to even updating the website to one year .
Spend your time on targeting the audience
Look at this image taken from LinkedIn where we are focusing on the target audience. You can select your audience in all the social media platforms because all the advertisements is not everyone’s cup of tea.
Create your goals and target the appropriate audience for your advertisements. To go ahead with a campaign, select your audience according to geographical divisions, gender, age group and language.
Let us explain this with an example
Suppose you are campaigning for party wear accessories for girls. And your advertisement is broadcasting on the profile of a retired male veteran. All he will do is to ignore your advertisement which can hamper your business.
It’s the time to focus, know your goal and limit your audience! This will easily help you to make your campaign successful and budget friendly.
Marketers plan on increasing the use of social media platforms
Of all the social media platforms, marketers are ready to invest more on Youtube with 69% more, Facebook 66%, Blogging 66%, LinkedIn 65%, twitter 64%.
Results are Great
- 88% found social media increased their market exposure
- 72% found social media increased traffic or subscriptions
- 48% Business increased in sales through social media efforts
- 58% Businesses decreased their costs by using social media.