Social Media Advertising Is Exploding
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Think It’s Not For You? Think Again!
Taken a look at social media stats lately? If not, you should. The numbers are staggering. The ads that run on most social media sites are by far much cheaper than running ads on Google AdWords, both display and search ads.
Why? Well, we’ll get into that but before we do, social media ads are not going to be affordable FOREVER. We are in a sweet spot now. Come 2020-2021, these costs are going to skyrocket and for anyone not getting in on this action now, just know it will cost big to start after everyone else has already taken their training wheels off.
So why is social media advertising so important?
Don’t have time to read the whole blog? Check out our 30-Second Summary. Thank us later 🙂
Organic reach is just about dead for businesses that are just now entering the digital world. Even well-known and visited Facebook pages with hundreds of thousands of likes are suffering from lack of organic reach.
And Facebook simply can’t show your business post to everyone who likes your page, no matter if they have 50 likes or 1 million likes.
If they did this, businesses would catch on and realize they get free advertising from every single like they have and all our timelines would be filled with ads. On the other hand, people could simply STOP liking business pages and then business would stop using the platform as well.
Facebook knows this and made significant changes to please both sides. In part, they only show any given organic post to 6.4% of total likes, according to an article on AdEspresso.com. It’s enough to make businesses feel like they got something out of posting, but also made them realize that if they paid for traffic they could get more. And of course Facebook was happy to oblige.
Getting Your Ads Seen
Facebook also is having a problem finding places to deliver ads, which is why they rolled out the mid-video ads last year. Video viewership is up on almost all platforms, including YouTube, who recently topped Facebook for most used social media network.
LinkedIn also rolled out a video feature to compete with Instagram, Facebook and YouTube. Now all social media platforms have video capabilities. So far, Facebook and YouTube are the only ones actively delivering ads in the middle of videos. Facebook just started this but YouTube has been doing this from the start.
Why Are Facebook Ads The Smart Choice?
With this early move to mid-video ads, Facebook has the edge over other social media platforms. But until about 8 months ago, most companies scoffed at the idea of Facebook and video ads.
Many business owners and executives are Baby Boomers who didn’t grow up with social media like millennials did. So they didn’t see the value or relevancy as quickly.
Now that Boomers are among one of the top growing user groups on Facebook, suddenly the idea of running ads there doesn’t seem so weird. And this is backed up by an article on AdEspresso, which found that 93% of social media advertisers are using Facebook Ads. And the even better news? They found that 26% of people who clicked on those ads made a purchase.
So What Does This Mean for Businesses?
With this new awareness, business leaders have to take action now on social media. They now realize that everyone is on social media and this is an ideal place to grab people’s attention.
They need to start diverting some of the marketing dollars into digital ads. Social media ads work and everyone is going to be rushing to take advantage. In order to get in front of the coming rush, businesses need to act NOW. Studies found that cost per ad jumped 17% in 2018, further proof that the ads aren’t getting any cheaper.
Still Think Facebook Ads Aren’t For You?
We get it. Facebook seems like a place for people to post pictures of their kids and not a place where business gets done.
We hear it all the time from our clients. But after we run test campaigns, all our clients saw significant increases in targeted traffic to their websites and sales in different ways.
What Does The Future Look Like?
With Facebook, the number of people who have joined the platform has leveled out. The younger crowd left, seeking newer social media platforms that were designed for them, which is another reason Facebook is driving the “Facebook Watch” part of their platform so hard.
The more engaging video series they have, the more places they have to run ads. This presents another great opportunity for businesses. Any company that wants to do a video series or a podcast should try it out because it’s the best time to do it.
As a nation, we are consuming more video minutes every day and YouTube is exploding yet again, taking the top social media spot away from Facebook.
Bottom line: Smart businesses are jumping on Facebook and YouTube and making these platforms work for them. Now is the time to move, before the platforms are totally flooded and your results are diluted.
30-Second Summary:
- Businesses that aren’t using social media advertising are missing a huge opportunity.
- Boomers are among one of the top growing user groups on Facebook.
- As a nation, we are consuming more video minutes every day on Youtube and Facebook.
- Now is the time to buy Facebook Ads – it’s only going to get more expensive and crowded in the future.
- Facebook only shows any given organic post (non-ad) to 6.4% of total page likes.
- 93% of social media advertisers use Facebook.
- Costs of Facebook ads jumped 17% in 2018.
- Businesses that advertise on Facebook see results – 26% of people who click on the ads make a purchase.
Resources:
https://adespresso.com/blog/facebook-statistics/
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July 9, 2019
