Before social media, digital ads were the mainstream of online advertising. Companies used to pay for ad units to be placed on high traffic websites, which redirected to visitors to their respective web pages. Today, a large number of companies spend a major portion of their advertising budget on social media advertising. According to a case study conducted by IgniteSocialMediaBlog, social media advertising is more effective than banner advertising in attracting quality visitors. There are several ways that can increase the returns through this form of specialized advertising.
Here are a few tips marketers and companies can follow.
Click the image to enlarge | Image source –Â SproutSocial
How to Maximize Returns From Social Media Advertising
1. Keep a check on the activity
After launching social media advertising campaigns, you can check the activity on your company pages. Keep your eyes open to what customers say about the product or service of the company. If you have a social media advertising department, ask them to carry out the task. The admin of your accounts (you or the staff member) should try to achieve a high response time, and lead dialogue with followers of the page.
2. Monitor the speed of fan growth
Your Facebook, Twitter, Bebuzee, Pinterest and other social media profiles can be monitored for the rate at which new fans are following/liking the page. Experiment with different content; pictures, infographics, blog posts etc. Through monitoring the speed of growth, you’ll better understand what type of content has the most influence on the people. After finding out, you can increase the focus on sharing that type.
3. Focus on relevancy and region
Stand out from other marketers by keeping relevant according to the region. You should note that all the people following your social media accounts won’t have the same preferences. For example, followers in New York will get attracted to something that followers in Chicago might ignore. Kids won’t be interested in content related to health and fitness. It’s important to understand how audiences differ based on age, location gender, and strategies can be made accordingly.
4. Maintain the engagement rate
After you’ve worked hard to increase the engagement rate of your audiences, it’s important that you’re able to maintain that engagement rate. There have been cases that online marketers were able to drive the engagement rate up, but it declined after a few weeks. You can maintain the rate through constant participation, content experimentation and other strategies. Giving special offers for the company’s products and services to the followers/members of your page can also maintain the engagement rate.
There might be instances when you receive negative feedback on social media. This can result in a negative online reputation, which is going to be harmful for your brand image. Even a single negative review can cause a lot of damage. You sshouldn’tignore the negative feedback, and use it improve the area which resulted in the cause. Websites like www.reputation.com can also help in this regard.
New tactics of maximizing social media advertising returns will be discovered in the future. You should keep up-to-date with the latest strategies to maximize the return of your investment.
You should also read this article that talks on the top three underused social media platforms that works like MAGIC!, and how they are social media marketing experts are killing it using these networks to dominate the social media advertising industry.
Social media have a high conversion rate for different businesses these days and so choosing different platforms of it, makes it very effective to generate revenue for a business. Facebook, which is about to launch its “want” button will drastically influence the popularity and advertising of different product and will definitely helps businesses to decide “what customers want?” in a more elaborative manner.
You are just accurate, some people uses only this strategy, and may I tell u, a new payment system is incorporated directly on social media which will make business sweet and easy, an example is “Ribbon”.
Thanks Joe for your comment.
still not tried social media advertising but after reading your review I am planning to give a try to it..
You should @Gopal because you will get good result from it.
Will definitely give this a shot. I’ve been wanting to try Facebook adverts but I don’t know where to start. Thanks for the insight! 😀
Give it a try and you’d be glad you did as long as you put these tips into mind.
Dan
social media is a great platform for online business. Facebook is most important platform to them.
Yeah, social media is fast becoming a household name. That was why Google saw Facebook as a big threat and established Google Plus