thousands of different marketing strategies to create buzz about their product, service, and brand. The most cost-effective and beneficial marketing strategy is social media advertising.
Social media advertising reaches people who use a variety of social media platforms. One of the key advantages of social media advertising is the cost, which is incredibly affordable with a sky-high return on investment. In fact, businesses that use social media advertising see an almost immediate increase in traffic, leads, and sales.
The following five social media platforms are among the best for any business to start advertising with:
Facebook boasts 2 billion (billion with a “b”) monthly users who can share messages, pictures, videos, and other media with each other. That means an advertising campaign on the platform has the capacity to reach 2 billion potential customers. That’s almost 1/3 of the entire planet’s population! The insane reach is why Facebook reigns as the universal social media network. Facebook ads constantly reach millions of people no matter across the globe. Because of the pervasiveness of Facebook, it is a lead generating monstrosity. Businesses using Facebook’s lead generating process can expect to spend about $1 per lead; the affordable price and massive reach make Facebook Advertising the undisputed heavy-weight champ of social media advertising.
A subsidiary of Facebook, Instagram (a social media platform that focuses on pictures and videos via a mobile app) also has incredible advertising potential. Self-reported analytics reveal that Instagram has more than 500 million monthly users. Instagram sucks in ½ a billion monthly users, but the company also commands the highest user engagement rate of any social media platform. Facebook may have the raw numbers (2 billion!), but it’s baby company, Instagram, dominates with an engagement rate 58% higher than its parent company (FB) and 2000% higher than Twitter. A higher engagement rate means that users who find your business via Instagram advertising spend more time engaging with your content and learning about your brand. While Facebook reaches the widest audience, Instagram’s audience digs deepest which makes it the second-best bang for your buck in social media advertising.
Not reaching quite as large an audience as Facebook, nor Instagram, Twitter has more than 330 million monthly active users (about the population of the USA, the 3rd biggest country in the world) who microblog using 140-character messages (“tweets”) to interact. Unlike other social media platforms that are used for advertising, Twitter can grow your business’s brand for free. All you need to do is to reach out directly to your audience and speak to them directly via Tweets. However, Twitter also offers paid targeted ads to pop up in potential customers feeds.
Pinterest, a social media platform that is largely image based, is large among women. More than 81% of its users are women. Similar to Instagram, Pinterest has a highly visual component that advertisers can use to show off their brand. Because of the strength of visual advertising on Pinterest, it ranks highly for e-commerce sales and transactions.
Snapchat, a multimedia messaging app, reaches the young adult demographic. Snapchat’s posts are temporary, a feature that makes it popular with a market share of 40% in the 18–34-year-old social media using category. As more people use Snapchat, businesses followed. Snapchat offers a variety of advertising packages in a variety of price ranges.
All in all, social media advertising is the most cost-effective form of advertising. As a business that seeks expansion through advertising, it is critical to adopt a proper social media presence and campaign.