When you start developing a strategy to help market your business, often you look at various tactics in order to determine what will help you succeed. And while a good marketing mix is necessary, often small businesses do not always have budgets to cast a very wide net.
So we’ve taken a look at some of the advantages of Social Media Advertising, and how it benefits the small business owner over traditional marketing.
Traditional Marketing is expensive (like radio, local TV, even print or direct mail) – You often have to commit to long-terms in order to help gain some efficiency, and even then the costs seem high for businesses with limited budgets.
Social Media Marketing is more affordable. You can test various campaigns with any sized budget. The key with your budget is going to be how you build your targeting to make sure you’re making the most out of every dollar.
It’s hard to change traditional advertising. From a tactical perspective, you may still be in a contract to execute multiple insertions and can’t make moves without a penalty. From a creative standpoint, it takes longer and more money/time to change your messaging.
Social media, and digital marketing in general, is much more flexible. We can change tactics, creative, and objectives on a whim. Edit, pause, generate new messages, even test variables to determine what your winning formula may be.
Generating a Dialog
Traditional Media is a one-way street. You’re talking at someone or at a group instead of engaging a dialog with potential customers. There’s no opportunity for immediate contact through the advertising medium itself. In order for a potential customer to begin a dialog, they need to jump through many hoops they may not be willing to do in order to reach out and ask a question.
Social Media Marketing, is just that: SOCIAL. It’s built for a two-way conversation. I conducted a Facebook Advertising session at a small business conference in Austin, TX and someone who had seen our event post, and purchased a ticket, asked about the location. To them, it wasn’t clear, but we were able to respond and clarify within the social media ad which he had engaged,
Measurement & Analytics
Attribution models have improved for traditional media, but the action someone took which can be directly attributed to traditional ads is still a little fuzzy. And often the analytics and reporting are not in real-time or as detailed as needed to make strong business decisions.
Reporting and analytics are great on digital platforms and specifically Social Media Marketing platforms like Facebook. Statistics are updated in real time, with detailed information on actions taken down to specific ads and specific targets. And you can clearly see which ad messages or audiences are performing better.
Traditional media is still very wasteful. You do your best to target your audience based on demographics, geographies and listening, watching or reading habits, but it’s still a pretty broad audience. You’re often left communicating to groups who may never show any interest in your product or service, or you have to tailor your message to a broader audience.
Audience targeting is where social media marketing platforms like Facebook, LinkedIn, and Twitter really shine. Their audience tools provide your business with the ability to build very specific targeting to help get your message to your potential consumers. In addition, you can segment audiences in order to serve each one the message that resonates most with them.
Avoid the One Trick Pony
As stated earlier, a marketing mix is very important. Your business can better succeed by positioning your messages across a variety of marketing channels to help build awareness, credibility, consideration, and ultimate purchase. This includes traditional media.
But as you look to develop your business marketing strategy and you’re gauging the priorities of your business, social media marketing should play a significant role.
To get more information on Social Media Marketing, or to get help with building your business’s marketing strategy, reach out to us at ADLG Marketing. With 20 years of marketing and advertising experience, we’re positioned to help small business, startups, and non-profits across the country succeed.