One of the most famous Henry Ford quotes that get tossed around constantly in the advertising industry is, “A man who stops advertising to save money is like a man who stops a clock to save time.”
It’s famous because it’s true. Advertising is an essential part of making money for your business. You need to let people know about you and the value you offer, and the best way of doing that – especially in this day and age – is through advertising. Or social media advertising, to be precise.
Sure you can employ other methods – and a lot of them will work – but social media ads give you the best opportunities to reach your target at the most optimized cost.
So how do you make sure your social media ad efforts are giving you the best results? What factors are essential to make your campaigns successful?
Factor #1: Audience
Who are you selling to? Who can benefit from what you provide? Are they young, old, male, female, a huge fan of fantasy football, an avid follower of all things K-pop? Knowing your audience and what makes them tick is the foundation on which effective campaigns are built.
It doesn’t have to be super specific. And it’s important that you’re not confusing your ideal audience with your actual audience. Usually they’re the same, but unless you have the data to back it up, it’s better not to assume. Gather the information you need to make sure you know for a fact who your audience are.
Know their demographics (e.g. middle-aged, married, English-speaking) and their psychographics (e.g. bibliophiles who are also obsessed with stationery).
Factor #2: Objective
What is the goal of your ad? Are you offering a free ebook so you can gather leads? Are you selling something or just letting people know about your brand.
Establishing the main objective of your campaign is important as you are going to have to match it to where your audience currently is on the buyer’s journey. You might feel tempted to dedicate your advertising efforts to just selling, but not every one of your prospects are ready to buy. A lot of them still needs convincing and you need to be able to offer something for them.
You might not even have enough of an audience yet to convince! Understand your ad needs and plan your objectives accordingly to make sure you maximize your efforts.
Factor #3: Platform
Your audience most likely use more than one social media platform, so it makes sense that you advertise on more than just Facebook. This ties into how well you understand your prospects.
Are they usually on mobile or desktop? Do they engage a lot on Twitter or Instagram? Are they more likely to send a message or click call?
Get to know how your audience use each platform that they frequent so you have a better understanding of what copy to present to them when you launch your ad.
There are other factors that play some role to how effective your ads can be, but these three are the bedrock points. Knowing your audience, understanding your ad objective, and utilizing the perfect platform are the most important components that would determine if your social media advertising efforts are going to be a success or just a learning opportunity.