You love them, you hate them, they are everywhere...Ads!
Advertising is the action of calling something to the attention of the public especially by paid announcements. - Merriam-Webster
There are several types of ads, such as: print, digital, social media, out-of-home and more. Within those categories, it can get even deeper, such as static or animated digital ads.
But for the purpose of your $100, we are going to stick with the one that you can get the most out of your hard earned money and that is social media ads.
Social media is here to stay and there is no arguing that. You may even have seen this article through a post online. It has become an integral part of most businesses as it gives brands direct access to consumers and clients. It's also an easy way to get a pulse on your audience.
So how do you spend you $100? Here’s how:
Step One: Audience Research
The audience will be the recipient of any items produced and shared.
Before you can start any advertising campaign, you must know your audience. It’s crucial to the development and targeting. During the marketing phase, you should have been able to get a good idea of your audience. If you didn’t do that phase, head on over to my step-by-step guide on defining your target audience and how to research it.
Step Two: Selecting The Right Social Media Platform
Every social media platform isn’t built the same and doesn’t attract the same type of people in the same way. For example, some platforms are more visual, or more texted focused or more for professional/workplace content driven.
Understanding the different social media platforms can help alleviate wasting money on ads that may not easily grab your audience attention as others. Here’s our top social media platforms and what they are good for:
Instagram: Instagram is a visually-focused social media platform that is ideal for sharing and discovering photos and videos. It is popular among individuals and businesses alike for showcasing their creativity, lifestyle, and products. Instagram offers various features such as filters, hashtags, stories, and IGTV, making it a powerful platform for engaging with a wide audience, building a personal brand, and promoting visual content.
Facebook: Facebook is a versatile social media platform that offers a range of functionalities. It is well-suited for connecting with friends, family, and acquaintances, sharing personal updates, photos, and videos, and joining interest-based groups and communities. Facebook also serves as a hub for news, events, and various types of content sharing. Additionally, it provides opportunities for businesses to establish a presence, advertise, and engage with customers through pages, groups, and targeted campaigns.
TikTok: TikTok is a short-form video platform known for its viral content and creative expression. It allows users to create and share short videos, typically accompanied by music, dances, challenges, and comedic skits. TikTok is particularly popular among younger audiences and offers a highly engaging and entertaining experience. It is often used for showcasing talents, following trends, and discovering diverse content created by a global community.
Twitter: Twitter is a microblogging platform that focuses on real-time information sharing and communication. It is characterized by its 280-character limit per tweet, which encourages concise and succinct updates. Twitter is commonly used for following and interacting with public figures, celebrities, news outlets, and experts in various fields. It is also a platform for sharing opinions, participating in discussions, and staying informed about current events. Its hashtag feature enables users to follow and contribute to trending topics.
LinkedIn: LinkedIn is a professional networking platform designed for career development, job searching, and business networking. It is commonly used by professionals, job seekers, recruiters, and businesses. LinkedIn allows users to create detailed professional profiles, connect with colleagues and industry peers, join industry-specific groups, and share career-related content and insights. It offers opportunities for networking, finding job opportunities, showcasing professional achievements, and building a personal brand within a professional context.
Step Three: Target, Target, Target
Targeting for your ads has become so much easier, mostly imparting to Facebook’s targeting tools. Honestly, the way you can target on that platform is insanely good, so much so that other platforms had to follow suit to catch up.
When targeting on social media platforms, you would want to revisit your customer profile. Your profile basically has all the information that you will need to target the right audience.
Step Four: Test and Learn
When starting off your advertising campaign, it’s best to start off with a lower amount and scale as needed.
For this example, if you will be using Instagram or Facebook, start with a $5/day ad or promoted post.
Monitor the traffic on your website using Google Analytics, as well as using the analytic tools that are available on the platform that you decide to advertise on. Facebook and Instagram has an Ad Manager tool.
Some data points to look for are: CPC (cost per click), CVR (Conversion Rate), CTR (Click Through Rate), Unique Clicks, Landing Page Views, Sales, etc. Here is a list of digital advertising terms and definitions.
You will need to know the averages, for example CPC and CTR, for your industry by platform. To do this, you can type in your search bar “Facebook CPC 20XX”. Find a site that has a graph, similar to the one below, that shows the breakdown for different industries.
Step Five: Scale
Once you see that your ad is performing after about two days, based on your KPI’s, start to scale. A simple way to do this is to double your original spend per day. For example, if you started with $5/day, then you would scale to $10/day.
Take another 2-3 days to test and learn, if you are seeing more traffic to your site or sales and a low conversion rate, then proceed to scale again.
During this time, also experiment with other platforms that your audience uses frequently. Repeat steps 3-5.
Again, you want to make sure that you are seeing results, but at or below the average benchmark in your industry.
First 2 days - $5/day = $10
Take 1-2 days to analyze your results to see if you should revisit your targets or scale
Second 3 days - $10/day = $30
Third 3 days = $20/day = $60
TOTAL = $100
If you have to revisit your audiences/targets, then the breakdown above will be different.
By doing these simple exercises, you will be able to build out a digital advertising campaign that can get your brand the awareness that it deserves!
Do you need help with your digital advertising campaign? Book a free discovery call with me here. Let's chat about it!
Phaon K. Spurlock, MBA
Marketing Consultant, Speaker + Entrepreneur