3 Reasons Social Media Advertising is Important, Even on a Low-Budget
It is safe to say, that people, especially people from younger generations, spend considerable amounts of time on social media. Social media is changing nearly every industry and social media advertising has become one of the most important parts of your advertising plan. According to a study conducted by Hootsuite, 50% of the global population is using social media. 50% of the world’s population amounts to 3.8 billion people and has increased by 9.2% this year. The study also found that last year people spent an average of 2 hours and 24 minutes per day on social media across all devices, meaning that 1 out of every 3 hours spent on the internet is on social platforms.
Paying for social media advertisements, and understanding their importance, even with a low-budget is crucial to push your business to the next level! According to Facebook, you can set your own advertising spending limit allowing you to stick to your advertising budget. You could spend as little as $5 a week on Facebook advertisements and still gain results if you wanted to. It all depends on the number of people you want to attract, and the types of people you want to reach. Even on platforms as huge as Facebook and Instagram, you can afford to purchase social media advertising!
1. GAIN CONSUMER INSIGHTS
As a business owner, gaining consumer insights should be among your top priorities. With analytics tools, you can see how your audience behaves and interacts with your social media advertisements. This information is valuable because in order to conduct your business you must understand what types of ads your customers are responding to. It is important that you find the best ways to interact and connect with your customers on social media because this information will reveal the best ways to advertise your products or services.
With analytics tools, you can make comparisons, gather demographic information, and determine which ads are more effective than others. You can also see how your audience is interacting with your ads and how long they are engaging with your ad. By looking at KPIs (Key Performance Indicators) such as comments, clicks, and shares you can see how exactly your audience is responding to your ads so that you can determine the best way to keep reach your customers.
Analytics tools can also help you determine demographic information such as age, race, gender, occupation, income, and even marital status. Demographic information is useful when trying to hone in on your target audience. Since some social media advertisements may perform better among different groups of people, it is important to know how these groups of people are interacting with your ads so that you can focus your advertising efforts on audiences that are most likely to support your business.
2. PROMOTE YOUR BUSINESS & GET MORE WEBSITE TRAFFIC
Purchasing social media advertisements also increase website traffic and raises brand awareness. The obvious goal of social media advertisements is to get people to click on your ad, leading them to your website so that they can learn more about your business. In this day and age, it is important to convey what your business is all about within a few seconds because it only takes a few clicks to decide whether or not your audience will like your brand. This may seem intimidating, but on the other hand, if you manage to create a compelling and engaging advertisement, it only takes a few seconds to acquire hundreds of new clicks within minutes or even seconds. Acquiring hundreds of new clicks has the potential to bring hundreds, if not thousands, of new customers to your website in no time.
The click-through rate is one of the most important metrics that you should be paying attention to if you’re concerned about website traffic. Google Ads offers this helpful definition, “CTR (click-through rate) is the number of clicks that your ad receives divided by the number of times your ad is shown. For example, if you had 5 clicks and 100 impressions, then your CTR would be 5%.” You can use CTR to determine which ads people find engaging and which ads need to be improved. The more your keywords and ads relate to each other and your business, the more likely it is that over time, people will start having conversations about your brand boosting brand awareness and driving traffic to your site.
3. ENHANCE YOUR SEO RANKINGS
Paying for social media advertisements does not directly boost your SEO, however, they do help in content marketing and link building efforts which ultimately boost organic search rankings. In other words, social media advertisements play a big role in getting your content out there in the world for large audiences to see. Having large audiences interacting with your ads and content leads to increased SEO rankings, improved engagement, and better Search Engine Result Pages (SERP) real estate. Social media ads and analytics tools help you determine your targeted audience and demographic information while SEO helps you to increase website visibility improving website traffic. Social media ads and SEO are essentially two peas in a pod, helping you to increase your visibility and reach potential customers.