Right now, I have Facebook open in one tab, Twitter in another, and my phone is sending me Instagram notifications. If you’re anything like me or 69% of American adults, you’ve also hopped onto your favorite social media site sometime in the last 24 hours. Social media is constantly evolving, with new technology making it easier for users to enjoy—and for marketers to employ. We’re constantly assessing how we can best utilize social media platforms for our clients; we strive for the biggest ROI, quality leads, and long-term impact. So, how effective is social media advertising in 2019? According to Accend2’s 2019 Digital Marketing Report, social media marketing is one of the top five most effective digital strategies at companies’ disposal. In fact, 35% of the marketers surveyed listed social media advertising as the most effective strategy on the market—above search engine optimization and email marketing. It’s no wonder that marketers are set to spend more than $93 billion on social media advertising this year. Why is social media marketing so effective? Here are four key reasons you should be getting your business on the social media train.
According to research from MediaKix, the average person spends more than three hours a day on social media, across everything from Facebook and Twitter to video platforms like Youtube and Vimeo. Time spent on Facebook alone has increased by 40% in the past year, from 20 minutes per day to 35 minutes per day. And remember folks, that’s an average; many people spend even more time scrolling through their various newsfeeds. This significant time spent makes social media advertising a worthwhile investment for businesses of all sizes.
Look back just 10 years and you can easily see the explosive growth of social media. According to a Mashable article from 2009, Facebook had just 65 million users. And the metric for comparison? The then-beloved social site, Myspace.
By comparison, Facebook has 1.59 billion daily active users today. Myspace is a blip on the social media scene, and newer platforms including Twitter, Instagram, and Snapchat have emerged and each have viewerships in the billions. Social media platforms encompass an audience larger than any TV commercial, magazine ad or billboard could ever capture.
Have you ever looked at a product on Amazon and suddenly your newsfeed is filled with Facebook ad campaigns for that item and EVERYTHING LIKE IT? Today, marketing technology allows us to create target audiences for social media ads based on everything from basic demographics to recent search activity to the keywords you just used in your latest Tweet. This hyper-personalization across social media allows marketers and companies to show you the perfect ad at the perfect time, increasing the probability of turning you, the social media user, into a customer.
A/B testing a TV commercial would cost thousands, if not millions of dollars, which is why advertisers have to try so hard to get it right the first time. And, it’s why we enjoy the “best’ and “worst” of Superbowl Ads every year. A/B testing on social media, on the other hand, is extremely cost-effective. A single click, follow or engagement might cost $1 or less, meaning we can test a multitude of social ad text, calls-to-action, and creatives within a much more reasonable budget. The ability to test gives us the opportunity to find the most effective promotions, and then pour our time, energy, and ad spend into the most effective, targeted advertising campaigns.
If you aren’t already utilizing online advertising, now is the time to start! Luckily, getting started with social media advertising isn’t difficult. For help, check out our articles on Twitter Ads, how to use dynamic Facebook ads, and our complete guide to Pinterest for businesses.
Don’t have time to DIY? Trust the experts at Marketing Supply Company to increase your online success with our proven tactics for everything from Facebook and Twitter advertising to LinkedIn ads, video ads and more. Fill out our online contact form to get going!