Even though the users of social media channels are gradually increasing year on year, the organic reach in social media marketing is on the decline and has been so for more than a couple of years now. According to our social media strategy team at Samskriti Business Solutions, today only 1 in 25 fans get to see social media posts on a company’s business page.
As the content consistently is failing to reach the majority of the audience, creative optimisations fail to solve the problem of reach. If you are a business facing similar problems, it’s high time you jump into paid advertising on social media.
Benefits of Paid Advertising in Social Media:
Paid advertising in social media helps you target the right audience based on demographics like age, gender location and interests. And that is not just about it. Each social media platform provides umpteen targeting options that equips you with the uncanny ability to choose the audience with the right intent at a specific point in their purchase journey.
With the right strategy and budget, paid advertising supercharges your reach, brand awareness and makes conversions. However there is no one social media platform – Facebook, Instagram, Twitter, & LinkedIn, each has its set-up to help you run paid campaigns on social media platforms.
Are you looking to quickly dive down into these platforms and get going with your paid advertising? Then this blog is for you. With the help of our social media marketers, we condense everything you need to know about paid social media marketing into this quick blog to give a solid foundation as you dive down into social media marketing. Read on:
Principles of Paid Advertising in Social Media Marketing:
Though there are many social media platforms with their dashboards, they follow a similar set of common principles which pillar their paid advertising campaigns. We identify and list these key principles you need to know to master paid advertising here to help you simplify your learning curve:
Every social media campaign starts with identifying the objective – the goal you wish to achieve with the campaign. Choosing the right option in the dashboard preps up the algorithm of the social media channel to direct all the efforts to accomplish this objective. So it is imperative to zero down your objective of the campaign.
Are you looking to improve awareness of your product/service or improve engagement with an audience who are already aware of your offering? Or are you looking to sell your product to people who already know you and consider your product to make the purchase? You can select the objective of the campaign right at the start of the camping. For example, social media marketing objectives offered by Facebook are as follows:
- Awareness – Brand awareness, reach
- Engagement – Traffic, engagement, app installs, video views, lead generation, messages
- Conversions: Conversions, sales, store traffic.
LinkedIn, Twitter and other social media platforms offer similar categories with different metrics.
2. Ad Formats:
Format is essentially how you present your content to the audience. Each platform has its ad format which is selected based on the demographics, interests, objectives of the campaigns. Here are ad formats offered by major social media platforms:
- Facebook – Single image, carousel, single video, slide shows, in-video and collection ads.
- Twitter – Text tweet, single image/multi-image tweets, GIF tweets, Twitter-promoted videos, website cards, Twitter app cards, direct message cards and conversion ads.
- LinkedIn – Sponsored content, sponsored In Mail, Display ads (text and image)
The most important critical aspect of any social media marketing campaign is budgeting which determines all the costs associated with the marketing activities. There are two ways to go about budgeting in social media marketing:
1. Daily budget – One can set a predetermined budget for each ad set and soon as the budget is spent, the campaign stops.
2. Lifetime budget – A campaign can have a lifetime budget with a start and end date. The platform can spend the budget based on the results and goals you wish to achieve.
Social media platforms also give various customisation to spend your budget as seem fit. For example, using campaign budgeting optimisations in Facebook further optimises your budget for specific goals. Established businesses set aside predetermined budgets based on their targets. Usually, these budgets are determined using previous CPL (Cost per Lead) data and Life Time Value (LTV, if applicable).
Social Media Marketing Strategy is the Key:
Choose the right objective, select the ad format that aligns with your objective & audience, and set the budget – running a paid advertising campaign essentially comprises these 3 steps. However, extracting greater value out of paid campaigns needs the right social media marketing strategies.
A social media marketing strategy is the blueprint for picking the right set of customers at the right time at the right stage of the consumer funnel and driving them towards profitable action within the right budget – consistently doing it for a long time. Any business can run a paid campaign but making it profitable involves a perfect social media marketing strategy, and this is where our social media marketing experts at Samskriti Business Solutions can help.
As a leading social media marketing company in Hyderabad, Samskriti Business Solutions has been offering high ROI social media marketing services for helping small, medium and large businesses for more than 13 years now. If you are a business looking to supercharge your brand awareness or grab more sales and revenue with social media marketing, you can contact us here: https://www.samskritisolutions.com/