Pros and cons of using social media marketing.
Social Media Ads Pros and Cons
Business owners use social media in different strategies to broaden their business and gather many audiences, which means a greater chance of having a high number of consumers.
Social media marketing is defined as gaining attention through social media sites concerning the end goal of social marketing, which is to improve individual welfare and society and not benefiting the organization that makes it different from other forms of marketing. Social media as a medium of business promotion assist through its instancy to a healthy and direct direction between brands and public online environment.
The 21st century saw an outbreak in social networking sites such as Facebook, the most popular social networking site with 2.32 million users. Today can't design a market strategy without considering social networks in a promotion. Not just for the benefit of the business owner's social market, it is also important to consider that in this way, consumers demand more accessible and small time-consuming browsing for the product we like. Consumers will need to browse, click and wait for its delivery. Social marketing also applies to the COVID19 pandemic situation, less social contact, no need to go outside, a great deal for business owners to earn without crossing the limitation of social distancing and safety. As we progressed in developing Web 3.0, social networking evolved and made it possible to communicate with consumers anytime and anywhere.
Social media marketing or social networking is defined as an online-based service that enables users to create their profiles and communicate with others. Social media marketing connects brands and consumers while offering personal channels and currency for user-centered networking and social interaction. Social media marketing is a tool that allows that customers to communicate directly about the brands to the brand representatives. Social media marketing is the key to long-term success in marketing. Social media change the consumer's idea in purchasing or buying products and services. As a result, the marketers changed their perception of social media and considered it a "must focus approach" in business.
There were still digital immigrants in terms of social media who still choose to do the traditional way of buying things and look more strictly on the quality of the product. The consumers' beliefs in online shopping concluded that marketers were required to educate or disseminate information about their security and awareness of the benefits in online shopping that may help the consumers trust them. The online market ties up to reliable courier and delivery services to secure the product's safety and consumer's payments. Customers only feel satisfied when marketers give importance to price and after-sale factors (consumer service). As for marketers, they benefited from social media through long-term engagement between them and their consumers, which allows them to communicate effectively to everyone.
Social Media Ads
Cost
Social media advertising is not a one-size-fits-all pricing model. Instead, how much you spend for someone to click on your ad – and ultimately become a customer – is dependent on multiple factors, including your targeted audience size, your industry, and the ad design.
While it varies widely, some general benchmark data does exist. Generally speaking, companies can expect to spend a median:
• CPC of $0.51 / CPM of $9.06 on Facebook.
• CPC of $1.28 / CPM of $6.70 on Instagram.
• CPC of $0.53 and CPM of $5.76 on Twitter.
• CPC of $5.61 and CPM of $6.05 on LinkedIn.
Pros
• Audience Diversity: No matter who your prospects are, there's a good chance
they're on social media.
• Editable Messaging: Find one ad that isn't performing well after a couple of days? No sweat. Make adjustments to ad copy and targeting immediately to improve performance.
• Varying Content Types: With social, you can advertise using GIFs, images, and video for a more engaging experience.
Cons
• Not Everyone is on Every Platform: Social media sites have a diverse set of
users, which means your ads might not be equally successful on each channel. For example, young college students might not be on LinkedIn yet, and new retirees may not be on Twitter.
• Constant Check-ins: Because you see data on the success of your social ads in real-time, it takes more frequent monitoring than other ad types to ensure you're producing the most significant ROI.
Google & Search Ads
Cost
Search ads depend mainly on your location and your industry, but on average, the cost
varies between $1 and $2 per click on Google, though some ads can go well over $50 per
click if the competition is steep enough. Google Ads are placed according to both a bid by the advertiser and the quality of the ad. Therefore, the better your ad, the less likely you'll have to pay more to outbid competitors.
Pros
• Ads Are Super Targeted. For example, online search ads appear when people search for a term that pertains directly to your business.
• Easily Control Your Ads. With search ads, you can raise and lower your budget, turn certain ads on and off, and adjust what keywords you're bidding for, giving you real-time control over your advertising.
• A Huge Audience. There are more than 60,000 searches on Google every second.
• Ads Are Less Intrusive. While some ads come across as disrupting a positive experience, like a TV show or an article, search ads only appear when someone is searching for related information.
Cons
• It's Competitive. Everyone's on Google looking for solutions, and every competitor wants to be that solution. So to rank well, you'll have to devote ample resources to developing and maintaining unique ads and invest the funds to keep your #1 spot.
• You're Not the Only Ad. On YouTube or some social media sites, someone's screen might only have enough room for one ad. For example, search on Google for something you want to buy, and you might see four ads in a row – making it harder to stand out.
Video Ads
Cost
If you have an in-house video team, you can skip right over this section, as you've already
paid for what you need. If not, be prepared to hire an employee and invest in
production equipment or pay an agency for their filming and editing services. Either way,
you could be looking at thousands – if not tens of thousands – of dollars on getting your
video idea off the ground with a good production value.
Distribution is another story entirely. Airing a TV commercial can range from $100 during
the day to $2,000 in the evening, with airtime during events like the Super Bowl costing
millions. You can also distribute digitally, like on YouTube, for about 10 - 30 cents per view.
Pros
• Video Has Never Been More Popular. 5 billion videos are watched on YouTube every day, so exposing your company to that audience could be a real money maker.
• Show Your Product in Action. Unlike text or image-based ads, video ads can include a demonstration, proof of concept, or customer testimonial about your product or service, so people can see the real value you offer.
• Make Your Brand Modern. Companies are investing in video in droves since the video and the Internet have become synonymous. Failing to advertise with video can suggest you're not as current as your competitors, depending on your industry.
Cons
• Video Ads Can Be Skipped. As they are often viewed as intrusive, viewers will try to fast forward through TV ads or skip an online video ad if it's an option.
• It Can Be Expensive. Video done right is one of the more expensive advertising methods, given the cost of professional equipment and some distribution channels. However, you can learn how to get started with video in your business quickly and cost-effectively here.
• Videos Need to Be Passable. Video production can be challenging if you're new to it, and poor videos aren't tolerated in today's world. A lousy video ad could give you a negative image in the eyes of potential customers.
Transit (Billboard & Bus/Subway) Ads
Cost
Billboard ads can also vary greatly. Billboard rentals can run anywhere between $550 and $13,000 per month, depending on the city. At their highest rates, they cost anywhere from $1 to $20 per one thousand adults in the area (CPM). For production costs, expect to pay 50 cents per square foot. Transit ads cost $500 - $4,000 per month, according to Entrepreneur. Don't forget to factor in production costs here, as well.
Pros
• They're Huge! Billboards are tough to ignore. It's hard for them to escape eyes and peak interest completely. Transit ads are smaller but still get the point across.
• Repetition is Key. Commuters and travelers who take the same road or get off on a specific stop will keep seeing your ad for as long as you have it up there.
• Great for Local. Local businesses reinforce their proximity to the road and ease of access. For transit, ads work best for places near the train or the bus to support the idea of locality.
Cons
• Exposure is Quick. While someone may get stuck in traffic, some may drive right past your ad or catch it in the corner of their eye as they're transferring to another train in the station. This makes it tough to digest or retain the messaging on your ad.
• They're Not Very Targeted. It's tough to target by age, sex, interests, or income levels on transit ads. The net will be cast wide for companies with a niche audience, but there's no guarantee you'll get the catch you're looking for specifically.
• They're Not Extremely Actionable. Unlike online ads, which have direct links to product pages, transit ads usually have a phone number or a website. For commuters on the move, remembering and taking that next step isn't as easy as pressing a button on their phone.
Social media is where your customers are, and it contains a wide range of audiences. Also, cost-effectiveness is a thing to considers. Social media is regarded as the most cost-efficient advertising strategy. Signing up and creating pages were free, and paid promotions are at a low cost. A greater returns of investment and retain of bigger budget.
Ignoring comments will your business to lost customers; hence marketers should learn social listening because every message, comment, and suggestion is their way of communicating and examining the service and quality of the product. Lastly, most marketers have problems choosing the right platform to use; being updated to different platforms is good, but consider planning and your goals.
Conclusion
The effectiveness of social media marketing must consider some points:
1. Listening, sharing, and being humble in communicating with your consumers may help you gather more, don't brag about money, and insert passive and indirect thoughts.
2. Make it not threatening for your audience to participate; make your approach as humble and friendly as possible because your personality matters.
3. Acknowledge and recognize your audience, consider your audience your future advocates, and because without them, your business won't reach success.
4. Merge your marketing effort from first to present, and it will you on obtaining goals, whether traditional or modernize marketing.
The effectiveness of social marketing is still on marketers' hands-on how they will manage their social networking strategy. Their behavior and relationship with their customers play a crucial role in having loyalty and brand recommendation.
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