Social media advertisements may not be new, but they are constantly changing. While your current marketing strategy might be working for you, it doesn't hurt to re-evaluate and improve. Optimizing your promotions is a great way to increase your exposure and reach new customers. Check out why this is so important:
The most popular and successful social platforms for ads at the moment are Facebook and Instagram. Many businesses are choosing these as their preferred method of advertisements.
Instagram and Facebook are currently the only social media platforms that companies are planning to use for paid ads. In fact, 31% of brands are currently using Instagram advertisements. The volume of ads has seen a 24% growth from 2017. Since Facebook now owns Instagram, businesses now have the capability to maintain promotions on both platforms at once. This makes it much easier to manage and create ads.
Now, you have the ability to nail down your specific audience and target your ad to them. For example, you now have the option to use lifetime value to create Facebook advertisements that actually convert. This means that you are given more opportunities to choose which consumers you want to target with your ad. Another benefit is your ability to run versatile promotions, which opens up lots of doors for businesses, allowing a diversified approach to your marketing strategy.
Even if you already advertise on social media, new marketing trends are always right around the corner. Don’t get stuck doing the same thing every year—try out new strategies and see what works for you!