In a previous blog post, we wrote about the Mike Bloomberg campaign and the outrageous amounts of money he was spending on social media advertisement. One of the key takeaways was that funneling money into a campaign was one way to ensure that it reached its target audience. While we were speaking tongue-in-cheek about spending $1 billion on your campaigns to ensure success, there is still a good lesson to be learned about the effects proper funding has on social media advertisement.
Everyone has seen a “promoted” post on Facebook, Instagram, Twitter, and LinkedIn, but it is possible that the typical social media user does not know what this means. These promoted posts indicate that the owner of the page spent money to have their post boosted to a wider audience, showing up in feeds regardless of if their account was being followed beforehand. This is the foundation of social media advertisement, and it represents a huge portion of the revenue brought in by social media companies like The Facebook Group and Twitter. Here at BloomSocial, you may have seen our new services for Social Media Advertisement and noticed that an additional ad budget is necessary to get started. Today’s blog will cover three ways that a healthy ad budget can help push your ad campaigns from good to great.
- More money means longer campaigns
When starting an ad campaign, we analyze the budget and determine the length that the campaign will run. Inputting more money into the campaign will allow it to run for longer, which as we mentioned in the Advertising Rule of Seven blog, will greatly increase your chances that it is seen multiple times, which in turn results in better conversion numbers.
- More money means reaching a larger audience
Defining a broad audience may not always be the best thing to do on some of your earlier campaigns, but once you have run a few ads and better understand the conversion and interaction your audience has with your business, targeting a wider audience can be more successful. Putting more money into campaigns ensures that you can define your audience with more definitive qualities, such as age, gender, geographic region, and more.
- More money means opportunities for retargeting
Retargeting is the action of gaining insight from a campaign and reaching out to the same audience with a refined message that is more tailored towards them. Understanding audience reaction, click rate, and total views are important metrics to ensure that your ad campaigns are hitting on the right items, which is not always something you can get from one campaign alone. Retargeting your audience can also help convert interest into leads, and turn cold leads into warm ones.
While social media advertising provides huge benefits for your business, there are a few things to remember before diving headfirst into your first campaign:
- Balance your sales-speak with good organic activity to keep your business from being branded as too “salesy”.
- Social Media Advertisement is best used in conjunction with other marketing channels such as email and SEO
- It may take time to see immediate results with your initial campaigns. Don’t let this dissuade you from continuing
Social media advertising is not a replacement for a good organic strategy, it should supplement the other good things you are already doing with your accounts. This is why at BloomSocial we recommend packaging Social Media Management services with an Advertising Package to maintain that healthy balance. If you have any questions about how we operate, or are ready to get started with a package of your own, contact us at email@example.com and we’d be happy to help!