Social media advertising has reached unimaginable levels of success within a short time span. Ever since the launch of the first option for advertising on Facebook, this approach has been generating a considerably high revenue. This progress was remarkable as well as unpredictable.
As far as modern businesses are concerned, online advertising is an obvious option. However, after the failure of banner ad, these businesses started looking out for alternatives such as paid search. Being a great medium for online advertising, paid search allows you to increase the traffic on your website, but this approach is useless when you do not have any identifiable keywords to bid on. Also, paid search is not an ideal option for those businesses that are concerned only about promoting their brands and not about attracting potential customers. In this scenario, paid social media advertising proves to be a better alternative. It allows businesses to find potential clients using shared information of users. Instead of targeting users with the help of commonly searched keywords, this approach finds relevant users even before they start their online search.
Following are some positive aspects of using social networks for advertising:
Advanced Options for Targeting
Social networks collect a large amount of information about users. Hence, the number of ways in which the audience can be targeted by social media advertising is much more than that on other platforms. This approach goes beyond the general geographical and demographic data, and thus it has paved the way for advanced methods of targeting. With these advanced methods, your ads will be more relevant to the users. As a result, you will have personalized relation with each user, that can not be achieved on other channels used for advertising. Following are the targeting options:
- Behavioral Targeting: It uses the self-reported information of users.
- Interest Targeting: It targets people on the basis of purchase intent or behavior.
- Lookalike Targeting: It uses phone numbers, email addresses, user names and user IDs for targeting people.
- Custom Targeting: It finds new people similar to the users who are already being targeted.
Tracking Conversions is Easier
Apart from using advanced methods to target users, you also need to track the performance of your campaign so that you can decide your budget. While some people choose pay per click services to evaluate the success of their ads, some others go for conversion tracking on social networks. Some actions taken by users can depict how effectively your advertisement can drive conversions. You can easily track these conversions on social networks provided you configure each of your ads properly. For instance, a compelling ad can tempt a user to buy a product or service, or register for a process or an event.