If you identify as an entrepreneur, you’re probably great at coming up with exciting products and services that serve an existing need in the market. Your creative ideas and never-give-up attitude can give birth to exciting, useful, and, sometimes, revolutionary products and services.
Courageous and visionary as you may be, though, the skills that support the creation of products and services may not translate well into other areas of your business. As a CEO, myself, what I can say is that this is natural.
Some aspects of running a successful business, like advertising, need the right skills and expertise to yield better results.
Imagine putting in the hard work, coming up with an awesome product, and then the disappointment of not seeing the fruits of your labour.
Today, this is what you are at risk of if you don’t embrace social media advertising in its entirety.
Social media has become a space where most people discover new products, and this is no surprise; there are 3.6 billion active social media users at the moment. That is almost half the population of our planet.Â
Advertising is what makes your brand more visible to your target audience. To enjoy higher ROI and conversion rates, it makes perfect sense to advertise where your audience likes to spend time.
In this blog post, I’ve outlined how you can add value to your business with key social media advertising benefits.
1. Social media advertising boosts brand visibility
As we’ve already established, more than half the planet is on social media.Â
That fact makes the range of platforms, including TikTok, Instagram, Facebook and even Pinterest, the best way to make your brand more visible. This kind of audience almost inevitably means that you enjoy higher traffic compared to other forms of advertising.
Take Instagram, for example. It has one billion active users and most of the user base is women aged 18-24. If you specialise in products or services for which women are the main target audience, you can’t afford to leave Instagram out of your advertising strategies.Â
The bottom line is that your customers are not going to come looking for you. You need to meet them in their waters.
2. You can target super specific audiences
All of us have probably experienced the annoyance that comes with watching irrelevant advertisements on TV. Today, traditional advertising is very limited when it comes to targeting a specific segment of people.
Unlike traditional advertising channels, social media platforms allow you to target your audience based on factors like gender, age, interests, and hobbies. This flexibility and level of segmentation make it easier for you to tap into the specific audience for whom your product or service is created.Â
It also allows you to add plenty of detail and customisation to your ad copy or graphics.
3. Sell more of your products
Did you know that social media advertising has a better conversion rate compared to traditional advertising?Â
Consider this—83% of B2B marketers used social media as their preferred advertising tool. It also has the second-highest success rate of 29%, just behind search engine advertising. Research on social media platforms has also shown that including calls to action in advertisements can double your conversion rate.
Another one of the many social media advertising benefits is that the ROI on these campaigns are pretty good—if you create the right content and target your audience effectively, that is.Â
4. Social media advertising boosts brand credibility
Advertising on social media is not limited to just displaying advertisements on screens.Â
Collaborations with reputed influencers, affiliate marketing schemes and your general presence on social media are other things that can contribute to the success of your advertising efforts.
Research shows that potential customers trust brands that have a strong social media presence and the backing of reputed influencers. These collaborations help you leverage the star power of your influencers and boost your brand’s credibility and reputation online.
Turn to the new age of advertising and reap the many social media advertising benefits
Social media advertising is one of the most cost-effective ways of pushing your products and services on the internet. Given the growing user base on these platforms, it’s also set to become the primary mode of online advertising in the future.Â
As a marketer, I know social media advertising takes time and commitment to be effective.Â
As an entrepreneur, I can also empathise that you may not have the time to dive into the nitty-gritty elements that this kind of advertising demands. That’s why it’s generally a good idea to offload this responsibility to professional marketers and tap into social media advertising benefits.