Owning a business isn’t just about creating an amazing product or providing impeccable service, it’s about finding people to buy all of your available awesomeness! Could you spend thousands of dollars on TV commercials hoping the right people see them? Sure. Could you print thousands of flyers, putting them on every car at the grocery store, praying the right person gets one (and that you don’t get arrested for trespassing?) Of course. But should you? No! Not when your ideal customer already gave you all the information you need to find them and is sitting right in front of their phone or computer just waiting for you and your business.
Social Media, Seriously?
Once upon a time, social media was thought of as the playground of the pubescent set; nothing more than a virtual “neighborhood” where kids met up to post-party pics and cheat on school assignments. Today, according to Pew Research, 69 percent of American adults use social networks and many use it for everything – from checking the weather, finding a restaurant, or planning a trip, to even choosing a doctor. YOUR customers are on social media.
Unlike television, radio, and print – where core demographics are calculated by taking a small segment of the population and using their written or measured responses to assume similar interests across the same gender, age, educational, ethnic, and income spectrum – social media demographics are targeted.
When someone joins a social site, they enter pertinent demographic information including gender, birthday, geographical location, marital status, job title, hobbies, and interests. As they interact with the site by posting, liking, sharing, and commenting on content, statistics pertaining to their preferences and habits are calculated by the site’s algorithms and added to their online persona.
Social sites, literally, hold the blueprint to advertising to your perfect customer and will SELL IT to you for a very low price.
CPM, or cost per thousand impressions, measures how many advertising dollars you must spend to reach 1,000 people. Social media advertising is the hands-down winner, when compared to other formats, exposing your business to 1,000 people for less than $3.00.
If people are using social media to learn about your business (and they are) you can keep your info up-to-the-minute fresh. Many sites allow businesses to create fan pages permitting you to post special offers and events in real-time.
Most importantly, social media is the only advertising platform that allows two-way communication. Prospective clients can engage with your business, ask questions, leave feedback, and communicate with you instantaneously. It’s the ultimate customer service tool. When customers feel heard and appreciated, their loyalty lasts for life.
They’re Asking for It
Unlike other advertising platforms that require focused intent, (customers have to choose to watch TV or listen to the radio to see or hear your ad,) social media has become a habit. Users check their feeds 17 times per day, on average, and they do it EVERYWHERE. Whether they’re working, eating, relaxing, in church, at their kid’s sporting event or even in the hospital, your customers are exposed to your business again and again – all day, every day – keeping your business very top of mind.
Is it For You?
If you have a business, you will benefit from advertising on social media, though some industries do stand out more than others. According to Facebook, 63.2 percent of all posts are attributed across these six industries:
- Financial services
Other top performers include:
- Real Estate
As technology continues to advance, and humans’ desire to connect with one another intensifies, these social media advertising trends will only grow. Gone are the days of Mad Men type agencies comprised of five or six folks – who know nothing about the intricacies of your industry – charging you thousands of dollars for storyboards and jingles. We live in the age of direct communication with customers, up-to-the-minute accuracy, and the ability to pitch your products in your own voice. Yes, change can be scary, and evolution is hard, but clinging to antiquated advertising techniques is not only foolish it may prove down-right detrimental to your business. Just ask the dinosaurs…
If you don’t want to go it alone, we are here to help.