After introducing you to some of the main Social Media Platforms such as Facebook, Twitter and LinkedIn we would like to talk about Adverting on Social Media. As you know from our previous article about Social Media in general, the strength of Social Media is the fact that you can build an audience and interact with them. If done right it will add a layer of transparency to your organization and can even help you to collect information before introducing a new product. But today we would like to talk about advertising on social media and to make it a bit easier we will concentrate on Facebook and LinkedIn for now, since both of them are very similar.
Why advertising on Social Media in the first place?
If you are using Facebook and LinkedIn you will have noticed that you are adding a lot of information about yourself to your profile. Almost all of those information can be used when you as advertiser want to target a specific audience. This is a huge advantage compare to other advertisement options such as Newspaper or TV for example.
What is the right platform for your business?
If you are following our series Promoting your business online you know that Facebook is certainly more consumer and fun oriented while LinkedIn is more serious business and networking. This can lead to the misconception that B2C oriented businesses should only advertise on Facebook while B2B oriented organizations should stick with LinkedIn, but this isn’t necessarily true. You should keep in mind that many business owners are probably also on Facebook and targeting them there might be useful to introduce your product to them.
You may have noticed that we haven’t included or even talked about Google Plus and YouTube. The reason is simple, both are Google Products and since they are somehow connected we will talk about Google Adwords, Google Adsense, Google Plus and YouTube in separate posts.
We now would like to give you some tips to create your first ad yourself. But before we get started we would like to remind you that you will be much more successful when you advertise not only on one platform. A combination of several advertisement options will always work in your favour.
As mentioned before you have a lot of option to target the right audience. You can select a specific location, gender, age group and there are many more options. Picking the right target group is very important and you as business owner should know best who is your clientele. However, you should keep in mind narrowing down your target group to much won’t be beneficial either.
Example: If you are selling a product that usually 23 year olds are buying, do not just target the 23 year old, have a age range that is a bit more flexible such as between 20 and 25 for example.
The first thing you have to be aware of is that there is a high possibility that you won’t get any new customers in your first month. You may see an increase in traffic, but usually a campaign needs 3 month or sometimes even longer to get you to the point where your investment sees a return. We therefore recommend calculating with a 3 month budget and will explain further how to split it.
Example: If you wish to invest $1,000 per month, calculate with $3,000 for 3 month instead.
The first month
After you know your budget and target group it is now time to build your advertisement on the platform of your choice. As mentioned earlier be a bit flexible with your target group and regarding your budget take a small amount of it to get started. Keeping our example of an overall budget of $3,000 in mind you should now invest maybe $500 for the first month. This will allow you to collect data which you can use to optimize your ad.
Optimization and second month
With the data collected in the first month it is now time to make some changes. Maybe you have noticed that you gain more traffic from a specific location and almost none from another one. Remove target groups that don’t give you the traffic you have wished for and therefore give more money to the audience that will most likely click on your ad. It is now also a good idea to increase the budget a little bit for the second month of your advertisement campaign.
After increasing the budget a little and gaining even more information you will have a much better idea to get more clients and can now create an ad optimized to your target audience. The third month is where you should invest the rest of your budget and hopefully your hard work is now paying off. Traffic to your site should increase and your sales should go up.
We would like to mention that the “1 month/1 month/1 month” rule we described in our post usually works for a lot of products and services. However there are so many other options how you can divide your budget, which might be better for your goals. Asking an expert can save you money, especially if you have a larger budget. Many experts including ourselves offer free consultations and we can only encourage you to take advantage of those opportunities. We also host seminars and can even setup one just for your team. Of course we would be happy to take care of your entire online marketing needs, but can also understand if you wish to do it yourself, especially if you are just getting started.
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