Social media marketing has been garnering a lot of attention since recent years with companies undergoing digital transformation and targeting social media platforms as their biggest and anticipated medium to advertise and market. Taking into consideration the current market scenario, we will need social media more than ever before. Across the globe, the economic times are changing with a major anticipated change in the buying decisions and the purchasing power of the customers. Keeping all these factors in mind companies will come up with all sorts of innovative selling solutions. But what will make it difficult to ignore is when it will be teamed with social media making more engaging, more interactive and more efficient advertising.
Importance of social media on advertising:
Social media is one of the major lifelines used by a company to prolong the market dominance of a product and proves to be one of the biggest mediums to reach the target market. With digital transformation transforming most of the business, taking the businesses online is the ‘need of the hour’. What better way to do so than taking the support of the social media platforms which is like a shadow to people nowadays and a sure medium of reaching out to a wider audience. Let’s take a look at the role of social media on advertising. Use of Social media-
- Will increase the interest in your product by improving visibility
- Will create strong brand awareness by informing the people of your product’s or company’s existence
- Will allow a strong brand building of the product
- Will increase customer satisfaction by reducing the time to address customer grievances and increasing the expectation benchmark
- Increase in traffic towards your website by allowing a chance to create a dominant online and digital presence
- Streamline the product knowledge encouraging a loyal fan following
- Enhances your SEO ranking
- Provides better credibility to your product
- Allows your product to be more interactive and engaging
- Allows more transparency as social media platforms are open forums
- Allows you to connect with your customer on a more personal level
- Acts as a perfect gateway for upselling your products and proves to be an excellent feedback forum encouraging a one on one interaction
- Allows you to reach a wider range of audience
- Is a comparatively cheaper and effective mode of advertising than the traditional ways of advertising
Types of social media advertising
Social media platforms are a completely different world in itself with a huge audience in its wake. If you are still wondering about the basics of social media platforms, then these are social platforms that allow the whole world to bind together under one platform on the basis of interactive, imaginative and engaging content.
Some of the most influencing social media platforms are Facebook, Instagram, Twitter, Pinterest, Tik Tok and various others. Some of these platforms undergo changes basis the host country like WeChat but the intentions of such platform are the same.
This section will talk about the various forms of social media advertising that companies can adopt to launch itself in the market or to establish a stronger presence in the market and how it impacts businesses. Let’s take a look-
- Facebook ads:
These ads not only increase the engagement capacity of a product but also simulates demographic targeting and increasing the traffic. The medium allows interactive advertising by offering a section to leave comments about a product, encourages impromptu conversions, and also to create and target a niche market for offline stores.
- Facebook Photo ads
Facebook photo ads provide the perfect solution for companies wanting to advertise targeting a specific market. This option of Facebook allows users to write about a product in 125 characters including a headline and description along with a ‘call to action’ option. These are quite hit for target market as these photo ads can be quite informational and engaging at the same time
- Facebook video ads
These work the best for short videos as people tend to remain more engaged when an ad is shorter. With longer duration ads the interest levels diminish quickly. But with compelling content and innovative visuals, even longer videos can be a huge hit. These ads can highlight the best features of a product drawing more customers. Animations, compelling graphics and engaging content along with appeal can work wonders for your product in this Facebook video ads.
- Facebook stories ads:
This is a compelling medium to influence a customer’s buying decisions and can be created as a placement while creating your ad. It comes under the option of ‘Automatic placement’ when creating an ad and can be used to display photos for 6 seconds and videos up to 15 seconds. This acts as a great advertising gimmick for companies showcasing limited period offers as the stories stay only for a period of 24 hours.
- Carousel ads:
A carousel ad is a forum where 10 ads or video ads can be showcased with their own individual weblinks under one single ad. So if you click on the main ad link, it will direct you to a page which contains information about that main product but also 10 more products with respective links. Once you take in the main information, you can click on to any other link to gain information about something else and works quite well in target a wider range of audience.
- Slideshow ads
These ads lie somewhere between no video support and static phot ads and are quite receptive when it comes to advertising and online marketing of a product or a company. Here, you will have the chance to display your product in the most innovative way possible to attract a line of customers towards your product.
- Collection ads
These ads are embraced more to showcase services like the travel or hospitality industry or products and are a hit with the people as it allows them to gain more knowledge about the product without leaving Facebook. Such ads contain a cover page along with various photos of the product or service along with a description, price etc. and is a great way to know more about the product.
- Instagram ads
Instagram is one of the most effective mediums of online advertising because it targets millennials. Instagram encourages video content as videos are more engaging than static photos. Instagram ads intend on creating brand awareness about a product or business along with a plethora of selective filters to make it more innovative and interesting. This is an excellent medium for worthy conversions with scope for either posting that ad as a story or displaying it on your main page as a feed.
- Twitter ads:
The ads posted on this medium has the possibility of stealing the spotlight by initiating a conversation about the product, promoting the product basis tweets to increase the traffic, create immense brand awareness, reaches a universal target audience, promotes app download (if you have any), increases the number of followers by increasing visibility. Twitter also has the facility of twitter ad campaigns that solely focuses on reaching and creating awareness with the specific target market and creating a strong online presence.
- Snapchat ads:
This medium is highly popular among the younger and the new generation as it comes with a whole new world of filters. This medium encourages conversion, relates to a wider target audience, increase engagement, encourages app installation, and is a great way of lead generation.
- Linkedin Ads:
This is one of the most business-centric social networking forums targeting target markets basis their accreditations and qualifications. The ads posted here has a higher conversion rate as compared to other forums as they are more target-oriented and encourages a lot of website conversions and an increase in the website traffic. The option of ‘sales navigation’ is specifically targeted to identify the target market and focus on them specifically. It is also a great channel to increase networking and create brand awareness about a product, business or service.
- Pinterest ads
Pinterest is again quite popular among the millennials and is comparatively newer than others. This is a great medium to enhance sales, increase traffic, create a strong online presence, encourage brand awareness and promotes app installs. This app has a target market of more women than men with information on all products across all domains of customer-centric products and services.
Well, these forums along with many other platforms can alleviate the experience of product research for any customer. With the lockdown and COVID 19 changing the dimensions of customer needs and expectations along with a huge shift in their purchasing power, companies will now have to come up with innovative and lucrative online solutions to keep themselves afloat. And what better way to reach out to a whole range of audience other than through social networking platforms. These platforms will be of tremendous support to only all the key and existing players in the market but will be a very productive medium for the new players in the market.