They may seem expensive and unnecessary, but one business owner explains why she would never go without social media ads.
Social media ads can initially be expensive and may not seem to generate much ROI, but their true value is apparent when you switch them off and notice a definite drop in traffic, explains Kate Morris, founder and CEO of retailer Adore Beauty.
The reason for this, according to Kate, is that for every customer who clicks an ad and visits your site or even makes a purchase, there are a significant number who witness the advertisement and will retain the name of your company for future reference.
Customers may not be actively clicking on an ad, but it will be bringing value by keeping your brand front of mind with them, she says.
Instagram recently announced that the number of businesses advertising on the social media platform more than doubled in the six months from February to August 2016.
Instagram now boasts more than half a million active advertisers, with Australia fourth on the list of the most active nations on the site.
“More than just following businesses, 60 per cent of people say they learn about a product or service on Instagram,” the company says.
However, as Lucy Given of LUC Design told My Business, companies need to really understand what each of the many social networking sites are being used for by their customers, to target the right audiences with the right messaging.
“People are going onto Instagram to be visually inspired. If I put a sale on my Instagram account – say I've candles at 50 per cent off – no one in Buenos Aires or Tehran is going to be interested in that. But they would be interested if I was really inspired by a new design of hotel, or 'Have a look at this incredible house that has just been built in Seattle' or something like that.
“[Whereas] my Facebook fans don't really care about that – they want to know am I open tomorrow, do I have a sale on, what's the new product that's come into the store. So most of my Facebook fans are locals or state-based, and most of my followers on Instagram are globally based.”
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