Social Media Advertising can be one of the most effective ways to promote your business, showcase a new product/service, or highlight a new event coming up. Some of the most powerful advertising platforms on found on the following social channels:
Data Driven Process
At Prepared Marketing, we take a very data driven approach to Social Media Advertising.
Through the use of powerful analytics, we measure and track your social advertising campaigns each step of the way. This ensures were finding what’s working and what’s not working. Using this data we can eliminate wasteful spending, and put your dollars towards what is converting.
The metrics we track during Social Media Advertising are a little different for each business and campaign, but overall we place our focus on data driven metrics such as: conversion rate, click-thru rate, and cost-per- click. Why is this important? Because you’re not interested in using Social Media Advertising to gain followers on Facebook, you’re interested in using Social Media Advertising to drive sales and grow profits.
The end goal is to create a predictive model for your business. We want to answer the following questions:
- On average, how many people to we need to send to your website to receive one conversion?
- How much does sending that many people cost?
- How much is one conversion worth to you?
Once we find the answers to those questions, we achieve an understanding of the value of Social Media Advertising. You’ll know exactly how much the advertising is costing you, and how much you’re getting out of it.
Targeting
The most important step in Social Media Advertising is honing in on your business’ target market. As your target market grows more specific, your advertising campaign will become cheaper, more effective, and maintain higher conversions. Knowing your clientele is extremely important. Demographics are a great place to start, but it’s even more important to understand their interests. What activities do your customers like to do? What causes do they care about?
What do they do on the weekends? What pages do they like on Facebook? It’s these kinds of questions that help us drive a targeted Social Media Advertising campaign. Don’t know this information? Don’t worry, Prepared Marketing will help you with your market research.
How do I Know if Social Media Advertising is Right For My Business?
Let’s start by comparing your social media advertising to Google Advertising. I’ve written an in-depth article on this (which I can also upload to the Prepared website and link to it here), but what you need to know is: Social Media Advertising lets you put your business in front of people who are likely to be interested in it. Google Advertising requires people to be actively searching for you. If you’re a new company, or no one knows who you are, it can be most effective to use Social Media Advertising.
Additionally, Social Media Advertising can be very cheap. With a highly targeted campaign, Facebook Advertising cost can be as little as $.25 per click. This means you can send over 400 people to your website for just $100/mo.