Social advertising budgets are continuing to rise, with 2020 social ad spend up 14.6% year over year (YOY) in the U.S. and a predicted spending increase to $47.9 billion in 2021. This increased spend is complemented by the maturation of social ad placements in part due to smartphone adoption, at a staggering 85% in the U.S. as of February 2021.
In order to be effective, social advertising campaigns need to be smart, efficient, targeted and engaging. The best practices highlighted below will help set up your social advertising campaigns for success.
DEFINE YOUR Advertising OBJECTIVES, THINK CROSS-CHANNEL AND STAY FOCUSED
Outlining campaign objectives should be your first step, and social advertising should be implemented as a component of a holistic multi-channel media plan, instead of just a standalone tactic.
The options for social advertising are growing on an almost daily basis. Like other forms of media, social advertising options need to each be evaluated for performance and ability to place the right message in front of the right person and at the right time. Select the social channels that will be efficient in terms of cost, effective in terms of achieving your objective and a solid fit for your target audience. Outline your advertising objectives first and then work to achieve them. And remember, not every social platform is right for every brand.
USE EVERY BIT OF TARGETING DATA YOU CAN GET YOUR HANDS ON
There are many data-based options for identifying and reaching your target audience. By combining your customer data with information about your social media followers, visitors to your website and third-party geographic, demographic and psychographic data, you can develop audience segmentation centered on prospects most likely to convert.
This defined target audience should be the foundation of your social media strategy. At the simplest level, defining your target audience will help you identify the platforms to use. For example, if your audience indexes highly for women with a household income of more than $50,000 per year, Pinterest may be a great fit. Alternatively, if your audience is primarily young adults aged 18-29, TikTok may perform well. But there are many more sophisticated ways to use audience data. Social network ad platforms allow targeting by geography, age, interest, profession, behaviors and more. Lookalike targeting is also available on some platforms, giving you the ability to generate audiences that match multiple characteristics of your current customers. You can, and should, reach a tightly targeted audience.
KNOW THE INS AND OUTS OF PLATFORM REPORT METRICS
Social platforms are not consistent in their metric definitions. To effectively measure performance, you must understand the nuances of those definitions.
On Facebook, for example, “clicks (all)” includes every click on your ad — to your website, on the like button, on the comment button or for any other interaction with the ad. If you’re measuring traffic driven to your website, “clicks (links)” is the metric to evaluate, as this will only include clicks on links to destinations on or off of your account (for example, clicking ‘Shop Now’ and going to your website or clicking to fill out a lead form). Similarly, Twitter’s “engagement” metric doesn’t reflect the number of times people clicked on the link within an ad. Twitter’s engagement metric measures all engagement with the tweet, including things like detail expands and profile clicks. To measure traffic to your website from Twitter, you need to export a campaign report and review the “link clicks” metric.
Tracking and measurement platforms are regularly updated to better meet the needs of advertisers. While these enhancements are typically good in the long run, they can create confusion in the short term for advertisers trying to understand what is being measured and how the metrics are defined.
TEST ALTERNATIVE BIDDING STRATEGIES
Many self-service ad platforms allow bidding and optimization based on specific objectives like conversions or new followers. While this supports the needs of many entry-level advertisers, it can also lead to poor campaign performance if the optimization strategies do not match your campaign objectives. If none of the objectives in the self-service ad platforms fit your needs, try manually entering bids to improve performance. Your bidding strategies must support your objectives.
BUILD ADS Primarily for MOBILE consumption
Are You Looking To Scale Or Supplement Your Social Advertising Campaigns?
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TO LAUNCH A FACEBOOK LEAD ADS CAMPAIGN WITH INSTANT DELIVERY OF YOUR LEADS OR TO LEARN HOW YOU CAN MAXIMIZE ALL OF YOUR SOCIAL ADVERTISING CAMPAIGNS, CONTACT THE DMS TEAM.