They say that you get what you pay for; but since outreach through social media is free, are you getting a cheap valued return? As we know, there are two different ways to utilize social networking and social media resources for building your business. There’s the free way, which is reliant on slow, methodical outreach to build a following, and the faster way, which requires investing in paid ads to promote your product or company for microtargeted outreach.
So the question is, what, if anything, should a business spend on advertising through social media? Spending is almost always a good idea, but on the whole, it’s not an easy question, and the answer becomes more complicated as the intended market grows bigger, and more diverse. But these three tips from 5W Public Relations CEO Ronn Torossian will help to maximize the return on the investment.
1. Go With the Bigger Options
Social Media Option
When advertising on Facebook, Twitter, Google, Yahoo, and other internet resources, the package is sold based on number of views. For example, a non-corporate Facebook fan page will promote a post through mutual contacts at different rates for estimated number of views, starting at 920-1,700 for $5 and up to the $50 option for 8,300-16,000 views.
When buying this type of outreach, always go with the larger options, since the view count is never an exact science. If you want your product promoted to a targeted audience of 8,000 people, select the 8,300-16,000 option, since the cost difference is minimal, but the return will be great enough that you will hit (and likely surpass) your goal, instead of coming up short at the end of a marketing campaign.
2. Use Paid Advertising to Redouble Free Media Efforts
Sponsored Posts on FacebookYou may have to pay to get an ad featured on Twitter, but it costs nothing to spread an intriguing hashtag. If you are going to spend the money to promote tweets onto people’s feeds, then make sure that the tweet has an element that can help raise viral outreach, such as an easy to pass on hashtag. Something that gets the twitterscape excited will lead to the hashtag trending, and that will help lead those people back to your product. Don’t waste space on things like #Deal or #Savings.
Dress it up, and make it as interactive as possible, either by letting people tell their story with the hashtag, or say what’s on their mind. Hashtags like #WhyILove_______, or #________Stories allow people to actively push your brand, without costing you an extra penny.
3. Don’t Compare Dollars and Cents
Social media advertising doesn't translate to profit in a straight line. Remember, social media is a tool best used for promoting brand identity, not direct selling of products and services. Wrigley’s doesn't sell gum on Facebook. They raise awareness for their brand and their brand message, so the consumer buys Wrigley’s when they go to the gas station. Use the tool right, and you will be rewarded.
Source:http://ronntorossian.blogspot.com/2013/08/Optimizing-social-media-roi.html
So the question is, what, if anything, should a business spend on advertising through social media? Spending is almost always a good idea, but on the whole, it’s not an easy question, and the answer becomes more complicated as the intended market grows bigger, and more diverse. But these three tips from 5W Public Relations CEO Ronn Torossian will help to maximize the return on the investment.
1. Go With the Bigger Options
Social Media Option
When advertising on Facebook, Twitter, Google, Yahoo, and other internet resources, the package is sold based on number of views. For example, a non-corporate Facebook fan page will promote a post through mutual contacts at different rates for estimated number of views, starting at 920-1,700 for $5 and up to the $50 option for 8,300-16,000 views.
When buying this type of outreach, always go with the larger options, since the view count is never an exact science. If you want your product promoted to a targeted audience of 8,000 people, select the 8,300-16,000 option, since the cost difference is minimal, but the return will be great enough that you will hit (and likely surpass) your goal, instead of coming up short at the end of a marketing campaign.
2. Use Paid Advertising to Redouble Free Media Efforts
Sponsored Posts on FacebookYou may have to pay to get an ad featured on Twitter, but it costs nothing to spread an intriguing hashtag. If you are going to spend the money to promote tweets onto people’s feeds, then make sure that the tweet has an element that can help raise viral outreach, such as an easy to pass on hashtag. Something that gets the twitterscape excited will lead to the hashtag trending, and that will help lead those people back to your product. Don’t waste space on things like #Deal or #Savings.
Dress it up, and make it as interactive as possible, either by letting people tell their story with the hashtag, or say what’s on their mind. Hashtags like #WhyILove_______, or #________Stories allow people to actively push your brand, without costing you an extra penny.
3. Don’t Compare Dollars and Cents
Social media advertising doesn't translate to profit in a straight line. Remember, social media is a tool best used for promoting brand identity, not direct selling of products and services. Wrigley’s doesn't sell gum on Facebook. They raise awareness for their brand and their brand message, so the consumer buys Wrigley’s when they go to the gas station. Use the tool right, and you will be rewarded.
Source:http://ronntorossian.blogspot.com/2013/08/Optimizing-social-media-roi.html
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