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Social media advertising

Detailed description about Social Media Advertising. The origin and evolution, types of advanced targeting methods are also discussed.

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Social media advertising

  1. 1.  Facebook launched its first advertising option in May 2005.  Since then Social Media Advertising has grown leaps and bounds.  In 10 years by 2015, Social Media Advertising revenue reached $8.4 billion.
  2. 2.  Online Advertising is a natural source for modern businesses.  Paid search is a great online advertising medium for driving visitors to your webpage.  But businesses didn’t have keywords to bid on to drive traffic.  Businesses wanted to create brand awareness rather than capturing user intent, thus the need for Social Media Advertising became important.
  3. 3.  Stretching beyond general demographic and geographic data, social media advertising has opened the door to deeper interest, behavioral and connection-based targeting methods.  Four main Advanced Targeting Options, ◦ Interest Targeting ◦ Behavioural/ Connection Targeting ◦ Custom Targeting ◦ Lookalike Targeting
  4. 4.  Reach specific audiences by looking at their self-reported interests, activities, skills, pages/users they have engaged with, etc.  Interest targeting is often related to keyword targeting, so some platforms will allow you to enter both.  Interests can be as general as an industry (e.g. automotive industry) or as specific as a product (e.g. convertibles). Offered by: Facebook, Twitter, LinkedIn (under “Skill”), Pinterest.
  5. 5.  With behavioural targeting, you can reach people based on purchase behaviours or intents and/or device usage.  With connection targeting, you can reach people who have a specific kind of connection to your page, app, group, or event.  Both types of targeting take past behaviour into account to help you determine intent.  Offered by: Facebook, Twitter, LinkedIn.
  6. 6.  Reach audiences by uploading a list of email addresses, phone numbers, users IDs, or usernames.  Facebook calls its custom targeting Custom Audiences, while Twitter calls its own Tailored Audiences.  They’re largely based on the same concept: “If you have a known group of people you’d like to target, you can simply upload them and target them directly (provided that the social network can match the data you’re uploading with real profiles)”  Offered by: Facebook, Twitter.
  7. 7.  Reach new people who are similar to an audience. Lookalike targeting helps businesses extend their custom audiences to reach new, similar users.  For those businesses looking to acquire new customers through social media advertising, lookalike targeting can be a fantastic acquisition tool.  Offered by: Facebook, LinkedIn.
  8. 8.  With all the new options for targeting users, tracking the performance of your social media advertising campaign is even more important for justifying your spend and requesting a budget.  While you can still pay-per-click to your website or choose other metrics to measure the success of your ad, most social networks now offer website conversion tracking.  Conversion tracking requires that you add a snippet of code to the page on your website where the conversion will take place, so it does require a bit of technical ability and extra effort, but you’ll then be able to attribute any conversions on that page to the ads you’re running.  Conversion tracking helps your business be smarter about your ad spend and strategy. If your ad is receiving a lot of clicks (which you are paying for) but no conversions, it’s a wasted investment. This information will allow you to better optimize your ad copy and targeting.
  9. 9.  Mobile users are already checking Facebook, Twitter, LinkedIn and/or Pinterest multiple times a day, so advertising to them while they’re within those apps is the best way to reach them without being disruptive.  Mobile advertising was on course to comprise  68% of Facebook’s revenue and 84% of Twitter’s in 2014, and  two-thirds of social media advertising spend is forecasted to go towards mobile ads in 2018, creating a $9.1 billion market on mobile.
  10. 10. Thank you