How Social Media Ads Enhance Marketing ROI for More Profit?
If your social media ads are not getting enough engagement, something must be wrong. Whether you’re working with an SEO agency or handling your social media ads alone, there's a suitable formula to follow to address the issues.
Let’s talk about:
- Social media ads as a profitable but challenging strategy, and
- Five ways to improve your ROI with social media ads
Ready to create better social media ads?
Social Media Ads: A Profitable But Challenging Strategy
Businesses and organizations use social media ads to promote their brand, products, or services. A 2021 study showed social media as the second largest market for digital marketing. Advertising on social media is profitable, with Instagram revenue projected to reach $15.95 billion in global revenue this year.
But despite its amazing profitability, social media advertising remains a challenging strategy. Marketers encounter the following issues with social media ads:
- Decreasing engagement rates or low post interactions. Falling ad engagement could be due to many reasons. First, there may be many brands competing for your customer’s attention. If your competition also uses social media marketing tactics, you’ll find it hard to fight for more engagement.
- Establishing brand authority. This is a challenge, especially for startups and small businesses. When you’re new to an industry with legacy companies and established brands, it’s tough to establish your identity and authority.
- Handling many social media platforms. Handling messages, notifications, engagements, and metrics is challenging if you want to use various social media platforms to post your ads. However, you must allocate a lot of effort, time, and budget to handle all these simultaneously.
- Lacking creativity. For your social media ad to take traction, it has to be creative, engaging, and valuable. It would be best if you always had fresh ideas for your ads, which may pose a challenge for many marketers. You can collaborate with content creators and brand advocates, which could be costly.
Social media marketing is powerful, but you need time and effort to prepare your campaigns. And just like any digital marketing tactic, you need to monitor your metrics constantly. Diving into analytics will help you create better, more engaging content for your audience to enjoy, like, and share.
5 Ways To Improve ROI Using Social Media Ads
You can ace your social media ads and improve your return on investment (ROI) with the following strategies that even an SEO agency uses.
1. Identify the Correct Social Media Platform
Various social media platforms exist, each with a specific market and benefits. Facebook, for one, has billions of active users. It helps businesses connect with their target audience by using demographics. They can post live videos and product carousels to promote their brand, product, or service.
Here are a few strategies to help you find the right platform for your social media ads.
- Consider your audience’s preferences. In July 2022, there were 300 million active social media users. Facebook has 2.94 billion monthly active users while YouTube has a potential ads reach of 2.48 billion. Instagram has a potential ads reach of 1.44 billion while WhatsApp has 2 billion monthly active users.
- Identify which platforms your competitors are using. Find how their ads are engaging, the type of ads they are posting, and other relevant elements.
- Ensure your social media platform aligns with your marketing goals. If your goal is to improve brand recognition, platforms like Facebook, Instagram, and Twitter can work. Meanwhile, if you’re eyeing a younger audience, YouTube is your platform.
- Research the uses of various platforms. Create personas to identify segments in your audience. You can also use surveys from your website or email to ask about their preferred social media.
2. Promote Live Videos
Marketers can create ads to invite their target audience to view a live event online. It could be a real estate broker’s ad inviting professionals and investors to view a live Facebook open house. A company can also invite users to view a product launching via Instagram Live.
Social media users always look for authentic and engaging content. Live videos can give them that, and so they generate genuine engagement. A live video also helps you gain the trust of your consumers. At the same time, it focuses their attention on your products or services.
3. Take Advantage of Social Media Ads Tools
Social media marketers, especially those from an SEO agency, use tools to create engaging ads. These tools have different functions, such as capturing leads, scheduling posts, and content performance analytics. Experts that provide digital marketing services use these tools.
Tools like Bit.ly are great for shortening your URL. This tool condenses your links to work with ad status character limits on platforms like Twitter, which only allows 140 characters.
Snapchat tools like filters can make your social media ads more appealing. Filters can make your ads more engaging and your products more appealing to different audiences.
Still other social media ad tools can collect relevant data. Social Metrics Pro can help you create better ads by providing the data you need to improve your campaigns. It also allows you to work with different platforms simultaneously in an organized and color-coded manner.
4. Don’t Underestimate the Power of Branding
What comes to mind when you hear the phrase “Just Do It”? Nike, of course. This tagline appears not only in Nike's shoe boxes but on their posters, online ads, and even on T.V. ads. That’s a good example of branding.
Branding communicates a product or service's unique selling proposition. It boosts brand recognition, customer loyalty, and client relationships. You create something (a design, story, or sound) that makes people think of your product or service when they see or hear it, like Coke’s red color, Barbie’s pink color, or McDonald’s M logo.
Logos, taglines, jingles, and mascots are just a few branding techniques. Most companies even have a fixed color palette across all their collaterals. Consistency is the key.
5. Utilize User Generated Content in Creating Ads
User-generated content (UGC) is any brand-specific content created by consumers rather than the company and published on social media. They could be videos, images, reviews, or comments. This ad content can connect with your customers and improve engagement. So how do you use UGC in your ad?
- Collect all relevant posts about your product or service. You can easily do this by searching hashtags.
- Ask for users’ content rights. Be sure to get the creator's approval to use the content.
- Once you get permission to use the content, you can incorporate it into your ad.
To improve marketing ROI and profit, you must first identify the right social media platform, use live videos often, and take advantage of social media marketing tools.
Also, harnessing the power of branding and using user-generated content can spell success in social media ad marketing. You can guarantee better engagement and improved campaign profits with all these considerations.
If social media ads prove to be challenging for you, work with experts from an SEO agency.
Would you like to learn more about how social media ads can boost your ROI? Contact us today, and let's start.
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