Since 2019, the amount of money spent has been growing steadily. In fact, Statista shows that social media advertising spending is projected to reach US$230.30B in 2022 from US$181.42B in 2021. Given these statistics alone, it goes to show that social media ads are becoming a critical part of marketing strategies of both small and large businesses alike.
In today’s ever-competitive market, brands that do not advertise on social media platforms risk falling behind. With the number of social media users growing every single day, the need for advertising on social media has never been stronger.
If you’re on the fence but investing in paid social media advertising, this article is for you. Continue reading to find out more.
What is Paid Social Media?
Paid social media refers to the method of placing advertisements or sponsored marketing messages on social media platforms such as Facebook, Twitter, Instagram and TikTok. It plays a pivotal role in any digital marketing strategy with the goal of helping brands increase followers, engagements, clicks and views through targeting a specific sub-audience based on social media users’ demographics, geographic locations, interests and more.
According to HubSpot, the most common examples of paid socal media include pay-per-click advertising, influencer-generated content and display ads.
Best Platforms for Paid Social Media Advertising
Whether you’re looking for ways to improve your reach, engagement or sales, everything is possible with paid social media. However, it is best to note that every social media platform is different. For starters, Facebook offers a unique marketplace for shopping enthusiasts, Instagram focuses mainly on visual content, Twitter lets its users create short-form content while TikTok offers a vertical, short-form video content.
To help you choose which among these channels suits your business the most, here are some simple strategies you might want to use for each social media platform.
Facebook Targeted Ads is probably one of the most powerful advertising systems available in the market today. Basically, this feature can help you find people who are most likely interested in your business.
Facebook Ads works through a bidding system. Once there’s an opportunity to show an ad to a target audience, Facebook holds an auction to determine which ad to show to that person.
To determine the winner of the auction, Facebook looks at three major factors:
- Bid – the amount that the advertiser is willing to pay.
- Estimated action rates – the probability that showing an ad to a person leads to that desired outcome of the advertiser
- Ad quality – is determined by considering various factors including feedback from people viewing or hiding the ad and assessments of low-quality attributes in the ad such as withholding information, sensationalized language and engagement bait.
50% of people use Instagram to discover new brands. Just by looking at these numbers, t’s clear that it is best for businesses to have a spot on this platform.
To place an ad on Instagram, you will need to set up a business profile. This is an advantage if you don’t have an official website yet as Instagram’s business profile already serves as an eCommerce store.
There are different Instagram Ads depending on your needs:
- Photo ads – can be square, landscape or portrait.
- Video ads – share videos up to 60 seconds long.
- Carousel ads – layers of additional photos or videos in a single ad.
- Stories ads – vertical ads that are available on an Instagram account’s audience for 24 hours.
- Ads in explore – show sponsored content on Instagram’s explore page.
Why advertise on Twitter? 53% of people on Twitter are more likely to be the first to buy new products.
There are different types of Twitter Ads: Promoted Ads, Follower Ads and Trend Takeover. These ads look a lot like regular tweets. They can also be liked, retweeted and commented on. However, they have the “Promoted” label on the lower left corner of the tweet.
If you’re marketing to younger adults, advertising on TikTok is the best way to go. According to Hootsuite, almost half (43%) of TikTok users are aged 18 to 24. If you’re targeting an international audience, on the other hand, TikTok ads also offer a wider reach.
You can opt to run different ads formats on TikTok:
- In-Feed Ads – appears in between videos on the For You page. You can include multiple call-to-actions and create your video anywhere between 9 to 15 seconds.
- Branded Hashtag – a one-of-a-kind engagement format that offers both organic and sponsored opportunities for brands. Here, user-generated content appears on the hashtag challenge page.
- Branded Effects – offers a fun visual experience with shareable stickers, filters and effects.
- TopView – a full screen takeover that shows up at the top of the For You page . It can run from 5 to 60 seconds.
Investing in Paid Social Media Advertising: Is It Worth It?
If you think spending on an ad is only for large businesses, think again.
Social media platforms are now opening their doors for small and big advertisers alike. So plan ahead, create unique content and get ready to position your ads to your target audience.
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