It is very clear that businesses and the retail world are changing rapidly, and it’s up to each business to stay on top of current marketing trends. Brands will need to find new ways to market and sell and will have to adapt to the current times and trends to do so. Traditional forms of marketing don’t work as well as they used to, and those who are leveraging digital marketing may be missing out on key strategies that can increase performance and results even more. Today, having a strategy in digital marketing is key for every business. There are many reasons you and your team should jump on the social media advertising wagon in 2022.
Did you know that 74% of people use social media when making a purchase decision? Social platforms play a critical role in helping people make decisions about what to buy and where to buy it. If you want to help nudge these people towards choosing your product or service, social media advertising is the solution for you.
So, why advertise on social media? Keep reading to discover the benefits of social media advertising.
1. CUSTOMERS ARE USING SOCIAL MEDIA
Well, your customers are there, and social media ads provide a prime opportunity for you to reach them. Your customers can be on numerous platforms, including: Facebook, Twitter, Instagram, Pinterest, LinkedIn.
Many people are on these social media platforms to keep up with friends, family, and businesses.
As you can see, social media platforms connect you with a lot of people. The fact that you have a good chance of reaching your target market is just one of the many benefits of advertising on social media.
The importance of social media advertising lies in targeting.
Social media ads offer precise targeting that enables you to reach people more effectively, which helps you get the best return on investment (ROI) from your advertising budget.
With social media ads, you can target people by: demographics, socioeconomic status, location, buying habits, hobbies, interests, and more.
This advanced targeting makes it easier for you to target people most likely to hold an interest in your business. It’s a social media advertising advantage that enables you to reach the right people, your customers..
You’ll spend your budget smarter and put your money towards leads with the most interest in your business.
3. BRAND RECOGNITION
It helps you increase brand recognition. There are hundreds of people who haven’t discovered your business yet but have an interest in your products or services. Someone interested in your types of products, like beach clothes, may be on the lookout for new items.
Creating a social media ad can help you direct them towards your beach clothes business. With social media, you help these viable leads discover your brand. You put your brand in their newsfeeds and help them gain brand exposure.
They’ll get familiar with your brand’s name and style. When leads are exposed to your business, they build brand recognition. When it comes time to decide, they’ll remember your brand and turn back to you as a viable option for their needs.
4. USE OF YOUR BUDGET
One of the most valuable reasons to advertise on social media is that it allows you to get more from your budget. Social media advertising is extremely cost-effective and enables you to stretch your budget.
Typically, social media ads run on a pay-per-click (PPC) payment model. You don’t pay for people to look at your ad, but rather, you pay when someone clicks on your ad, though you can use an impression- or view-based payment model, which can come in handy for brand awareness campaigns.
These costs are low, which makes it one of the most important benefits of social media advertising because it enables you to get better results from your budget. When you combine the low cost of social media advertising with its precise targeting, you’re going to get more qualified leads and spend less obtaining them.
5. INSIGHT INTO YOUR CUSTOMER
Customer insights are just one of the many reasons to advertise on social media. When you run a campaign on these platforms, you’ll get valuable insight into what your customers want.
When you run social media advertising campaigns, you learn what types of ads engage your audience and get them to check out your business. Additionally, you can determine which products or services get your audience’s attention and get them to convert. This insight helps you create better advertising campaigns that resonate with your audience.
It’s one of the social media advertising advantages that enables you to earn more conversions for your business.
Another key tool for marketers that comes from social media advertising is the ability to directly track return on investment from your marketing campaigns. For example, on Facebook, this information is built directly into its Ads Manager platform, making it possible to view your budget’s performance and analyze return on ad spend (ROAS), cost per website purchase, cost per lead and much more at a quick glance. This is huge for advertisers because you can directly track how your ad spend is performing, making it possible to cut undesirable campaigns and scale well-performing campaigns to bring even better results.
So there you have it: solid reasons advertising on social media is important. If you want to keep sales afloat and ensure you have a sustainable business for the long run, you should keep these reasons in mind and start implementing social media advertising as the main part of your marketing efforts. Social media advertising is critical because it allows you to hyper-target specific users, build an audience database and directly track your return on investment.