Social Media is constantly evolving and more and more times becoming a pay to play model in order to get back your Social ROI. In fact they estimate that Social networks will earn $8.3 billion from advertising in 2015 alone. With 2.206 billion active social media users, you would be missing your audience if you weren’t leveraging your ad dollars on social. Have a look at all the recent stats in this August Snapshot report by ‘We Are Social’ if you’re curious!
With that said, let’s break it down for you with the types of ad options offered on some of the main channels:
Snapchat: Just recently Snapchat has been hot on the radar for a number of things and if you haven’t read about it yet, no we are not talking about the rainbow tears, they are now allowing you to pay for replays. Check out this great article from TechCrunch for more. So how can you advertise on Snapchat? Currently you will have to get an account rep from Snapchat but you can leverage the masses through Discover or Stories whether for an upcoming event or everyday snaps. Snapchat at this point is not geotargeted so you will reach their large audience but your ad may not be useful to part of the audience (i.e. festival in Texas to users in England). Because of these limited options, we are unsure of how large of a minimum budget you may be required to spend just to get started.
Instagram: Recently Instagram announced they were going global with their ads so that brands, big and small, around the world will be able to begin placing ads. They also allow you to manage your ads directly through the Facebook platform which gives you a variety of options driving three objectives; clicks to website, app installs and video views. Currently they are rolling out the option to create your ads in Facebook so as of this time I do not have access to play around. I’d assume you will have all of the same options you have across Facebook (below).
LinkedIn: A known staple, they have really grown their platform from the beginning allowing more metrics options and options for targeting ads. These ads are really great to target specifically for B2B businesses as you can choose job level, industry, and seniority. The minimum budget is $10 but you can easily get traction from a small budget.
Twitter: Growing and expanding their analytics platform and targeting methods has helped their ads platform grow immensely. Currently you can set a budget and pay when someone retweet, favorite, reply, or clicks. The targeting is also quite granular for most things such as interests, locations and keywords. You can also target users similar to other users by placing in @handles to find people interested in that handle (i.e. competitors or similar companies).
Facebook: The first of it’s kind but always evolving, these days you almost must advertise to garner any reach or audience on Facebook. However, you can get incredibly granular with your targeting and are almost assured you are reaching the audience you want. The other great part is the amount of options on where to advertise; mobile, desktop, newsfeed, sidebar. You also can use a budget of as small as $5 so that business big and small can take advantage of the network.
Now that you are ready to start placing ads, it’s important to leverage all of the analytics offered by each platform and ensure you are tracking your Social ROI. Over time as you learn your audience and content you will be able to wisely choose the best types of ads for you and your customers. Let us know if we can help you get started!