Social media is no more an unheard word. Look around and everyone you know has an account on Facebook, Twitter or LinkedIn. Due to this social media advertising services are getting famous in the business world. If you are running a business then hiring a social media advertising firm can become a fruitful decision. Some people also use free marketing tools but this is a different story. When you are using social media to promote your business, you enter into a whole new world of marketing. A new marketing concept where there are no limits. Being limitless also has its own course & cycle of action and reaction. Therefore, you should know how social media targeted advertising works. Additionally, you should also know how social media advertising agencies can suck all your money with zero results. Let us dive deep into the topic and understand the basics.
Social Media Advertising Services
Most entrepreneurs want to promote business online. This is due to the results you can expect from social media promotion. But do you know how many options you have? The first thing that strikes in mind is paid Facebook ads. This is because advertising on Facebook is one of the most common marketing techniques today. Most people set big targets when they start digital marketing or social media marketing. But the reality is different. Hiring a marketing agency is different from hiring a sales executive in house. There are many benefits of outsourcing but there are few things that may hold you from trusting blindly. You should be aware of the outsourcing facts before moving ahead.
Social media advertising cost
Unlike traditional ways of marketing, social media is very clear about expected outcomes. If you are planning to promote a brand on a social media website then Facebook comes on top. Followed by LinkedIn and Twitter. Social media marketing pricing for each one of them is different. Which medium you chose depends on many factors. For example: if you are looking for professionals, LinkedIn is a better platform. If you are offering beauty products, Facebook will work better. All social media websites let you choose a daily or monthly budget. The only thing that you do not control is cost per click. This varies due to competition on keywords. On Facebook, they also tell you about expected likes or clicks in the selected budget.
Small or Big, every Business has its own Vision
Remember when using Social Media Advertising Services
There is no doubt that you can promote a business online using social media marketing. But it is important to make sure you are making the best marketing strategies for business growth. Otherwise this can also be one of the reasons for business failure. Here is a list of issues that come as standard with a social media advertising firm.
It is not your Company
First of all, you do not own this company due to which it is not bound to follow your company policies. Same as you, the marketing company also has its own interest.
Dedication towards Making Profit in Business
In most cases, social media advertising services come with a standard marketing plan. All these social media marketing plans are designed to make profit in business. Due to this only a limited amount goes into paid social media ads.
Social Media Advertising Platform Selection Can go Wrong
- Selecting the best social media advertising platform is not easy. The process of selecting the social media marketing platform involves analyzing these points.
- Understanding the business model or the nature of work is most important.
- Note down your expected outcome from the social media campaign.
- Make sure you do run a targeted advertising campaign. There is no point spending money in marketing if your potential customers use some other social media platform. For example: if you are targeting corporates for selling products then LinkedIn should be your choice.
- Most companies do not invest that time because every data analysis requires resources. Either you have a really high budget of social media marketing services or you do research on your own.
Moving ahead without the right data can fail social media campaign completely. Therefore, be very careful what your social media marketing agency says. Ask questions about reason for preferred social media company for marketing.
Social Media Executives do not share the exact story
As an entrepreneur, you face lot of competition in business. Due to this you should always keep your eyes open. Most social media marketing agents will not tell you the right thing. They use diplomatic language while creating a marketing proposal. For example, they avoid sharing exact number.
The Objective is not to defame someone, but to pursue responsibility.
Additionally, there is no commitment of conversions. In a way they are correct because converting a sale is not in their hands. They can only bring traffic on website. As an entrepreneur, it is your responsibility to look at everything before approving a social media marketing proposal.
There are Fake Companies – Do a Company Background Check
Many companies just want to take money from you and never appear when you ask them to work. Sometimes, they just take token money and disappear. There are many startups who pretend to be experienced advertising agencies but reality is different. You can do a company background check for this. You also need to be careful about fake social media advertising firm. These companies do not exist on paper. You must check if the company is fake or real before the deal.
Calculating customer acquisition cost is important
When you are hiring a social media advertising firm then make sure you calculate the cost of customer acquisition. Yes, calculating customer acquisition cost is important because this can change your strategy completely. For example: the profit margin on your product is 20 percent. And the cost and the cost of acquiring a customer is 50 percent of revenue. You will make losses in business. Ask your agency to share a detailed proposal with expected sales volume. Estimate average cost of sales and then calculate cost of marketing. If the amount exceeds your expectation, create the marketing strategy again.
With this I will conclude the article. You can also learn more about Social Media Advertising Facts and profit making rules. There is another article on Facebook Ads vs Google Ads if you are want to promote business via digital marketing.