May 20, 2011
If you’re a small business owner and you are working with a limited marketing budget you need to get the most bang for your advertising buck. And right now, marketing through social media advertising is hot and could be one of the most effective strategies for your business.
If you haven’t explored the idea of social media advertising – through sites such as Facebook
, Twitter or any of the myriad social media sites that keep popping up, now might be a good time to look into its merits. Close to 64% of companies in a recent survey said they have dabbled in social media advertising. As with all advertising and marketing, you need to identify your demographic, identify your company’s goals with its advertising, choose the most effective social media channel, and ultimately you need to measure the results.
Regardless of whether you are a product or service provider or if you just want to bring in additional ad revenue social media advertising can be an effective tool in your marketing budget.
Currently, Facebook is one of the largest social media networking sites with close to 400 million users. It stands to reason, if you advertise on Facebook, you have a good likelihood of reaching a targeted group of users – again, you need to know your demographic.
The typical Facebook user spends close to 30 minutes a day on Facebook (but that figure is likely higher in many instances). There is a pay per click platform on the site but you need to target the ads to obtain maximum return on your investment.
Because the average Facebook user spends so much time on the site, you have a better chance of catching his or her attention there than if you try radio or television commercials or print ads.
As an entrepreneur you should be looking at social media
advertising – chose websites, blogs and other social platforms that closely relate to your business model.
While advertising on a social media site might make good fiscal sense you need to take into consideration that your “friends” or “fans” may not want to see ads even though they have the option of not clicking them and therefore can ignore them.
Nielsen says social media outlets like Facebook and MySpace have the potential to change the nature of advertising by making it more “social.” In other words, it’s not Big Company A or Huge Company B trying to sell me something, it’s on a Facebook or Twitter
business that I specifically sought out and “friended” or “followed.” By virtue of the fact that the individuals who have made the decision to follow you on any of the social media sites, they are more likely to look kindly upon any advertising they might see there.
Bottom line, if you’ve built up a legion of friends and fans and followers for your business on your social networking sites, they would be the ones most likely to “listen” to your advertising message. You’ll never know until you try and you just might be pleasantly surprised at your ROI.