For most digital marketers, spending advertising dollars on social media campaigns can be a daunting premise. Choosing the right platform is the first step to ensuring a successful run which delivers qualified results.
The social media scene is becoming more and more crowded with advertisers and stricter guidelines as to how ads can be served to specific platform users. From Facebook to Snapchat, Twitter to Instagram, each social advertising brand claims that they're the best option for marketers.
Let’s break down the opportunities available with each platform, and find out which of the social companies is worthy of your advertising budget.
Facebook continues to reign as the undisputed “king” of social marketing. The social network needs to remain as your primary advertising source, as its capabilities are largely unmatched by its competitors. In terms of advertising revenue, Facebook brought in roughly $6.25 million last quarter alone, with that number expected to continue rising.
Regardless of what you may have heard, Facebook is still the leading social media site across ALL demographics. Yes- that includes Millennials. And with over 757 million daily active users worldwide, their ability to serve your advertisement to an audience as broad or as specific you’d like is unparalleled. The opportunities for placement are also diverse including Facebook’s desktop and mobile platforms, Facebook owned Instagram, as well as a third party affiliate group of vetted sites called the Audience Network.
As important as the results of a digital campaign is the data gained during an ad’s run. Facebook dominates in terms of its analytics and user insights, and fairly transparently relays that information to the ad manager. In doing so, a digital marketer is able to determine a core audience, successes and failures of specific ad components, amid a myriad of new insight tools available on the platform.
Snapchat’s reputation has quickly evolved from a social app used primarily to send provocative photos, to that of an advertising powerhouse. In fact, Snapchat’s ad revenue is expected to pass $1 BILLION next year. That can be attributed to the “Holy Grail” of marketing demographics: Millennials and Generation Z. These two capital-rich age groups compose roughly 63% of Snapchat’s total user base. The social newbie can also boast huge daily user numbers (110 million) and a hefty valuation of about $20 billion.
Advertising on Snapchat can come with a large price tag, however, depending on the location to which you’d like ads served, as well as the time of day and length of the campaign. The emphasis on visual design or video quality can also prove to be a hurdle as a graphic artist or videographer should handle the content.
Snapchat recognizes it underperforms in analytic data as well as targeting details when compared to Facebook. It is also, however, working on enhancing those capabilities on the platform. Recently, Snapchat released new features that effectively amount to a mirror of Facebook’s “Custom Audience” tool. By uploading email addresses into Snapchat’s advertising platform, marketers can target those individuals and also create a lookalike audience based on user view habits.
Snapchat has a ways to go in order to be seen as a transparent and advertiser friendly marketing tool. However, when used in branding campaigns as previously displayed by Taco Bell and Gatorade, the content is widely viewed and, most importantly, by Millennials and Generation Z.
The following information was pulled from my August 10, 2016 blog “Pinterest is Social Media’s Best Kept Secret”.
It’s no secret that CEO Ben Silbermann has been aggressively repositioning Pinterest as the next chapter in social media advertising. Pinterest has been valued at roughly $13 billion and is quickly monetizing its content and will likely become the next social media platform to launch an IPO.
What sets Pinterest apart from its social competitors has always been its loyal user base. 80% of Pinterest’s daily users are female. More specifically, married women who are stay at home mothers with young children. Interestingly, Pinterest users want to see more “everyday people” in advertising, and the majority report their children influence their buying patterns. They are also more likely to read content related to cooking, gardening, and domestic related activities. Herein Lies the vast potential for advertising on Pinterest: a very specific adset with defined interests and diminutive influence over household purchases.
Pinterest reports that 55% of its base uses the platform for shopping. Ecommerce has not been easy for other social giants, but Pinterest users are not only loyal and defined, the majority are there to BUY! Pinterest also reports that new visitor retargeting features more than doubles the clickthrough rate on promoted pins, and lookalike audience targeting increases clickthrough rates by 63%.
Armed with this information, you can feel confident in creating comprehensive social ads for your next campaign. If you're not ready to implement a social ad campaign on your own, we can help! Contact us today for more information.