Advertising on social media is one of the various types of paid advertising and has fast become an essential component of business growth.
All your competitors will do it at some point, so if you don’t get a handle on it, you will get left behind.
Many businesses find dipping your toes into any form of advertising a little daunting.
For example, how to budget for it is often a concern for any startup when they’re considering the various options of a growth strategy.
Or just any kind of outlay at all when costs are tight.
However, at some point, companies who wish to grow will have to speculate to accumulate.
5 Reasons Advertising On Social Media Helps Grow Your Online Business
GrowthRabbit can assist you throughout a paid acquisition strategy such as social media advertising with step-by-step support.
But if, right now, you’re reading this and asking “What are the benefits of social media advertising to growth?”, then let us give you our top five reasons as to why it works …
1. Social media advertising is universal
Let’s start by considering the fact that when somebody buys a new phone, they’re encouraged to access social media through apps.
And that most of the world’s population have a social media handle on their preferred platform.
On this basis alone, we’re confident we don’t have to spell it out for you.
But if you really want the stats rather than the facts, then consider this.
In July 2018, there were 2.27 billion Facebook users.
YouTube users reached 1.9 billion.
And there were 1 billion Instagram users
Combined with the worldwide locations of those users, it is difficult to argue against the fact that the stats stack up.
Particularly when you consider this fact alone: almost a 1/3 of the planet’s population are on Facebook.
If you run an online business and don’t yet have a Facebook presence then fix this – fast!
A company page alone is a ‘soft’ version of advertising your business.
‘Soft’ because it costs nothing to set it up and because it’s a form of rolling PR that can often do some of the initial work in introducing your business.
And all this for FREE!
2. Advertising on social media is cheaper than traditional methods
All options considered, social media truly is one of the most cost-effective really one of the most cost-effective advertising methods there is.
And best of all you have the tools to be fully in charge.
What you might not have is the time to manage it, so GrowthRabbit can help manage your social media advertising for you.
But even so, you have access to look under the hood yourself and you should take the opportunity to do so.
Knowing how it all works (or at least having a peek!) helps you feel in control of your business, especially when you outsource your company marketing.
3. Social media is a form of dialogue directly with your customer
Good or bad, your audience will tell you what you think!
It’s true, there’s no way of avoiding what you do or don’t want to hear about your company, products and messaging on platforms such as Facebook, Twitter or Instagram.
But given market research is an essential component of your marketing mix, the comments you can harvest from your social media channels will save you sending out surveys.
Time-saving marketing tools?
4. It enables third-party verification of your business
Leading very much on from number 3, the impartial customer service social media platforms offer are invaluable.
Of course there is a risk of bad reviews.
But your company’s overall products and services should be built to avoid this with a strong business model.
So, the danger of negative exposure can often be a great form of pushing you to stay excellent.
Once you feel confident of your business and the relationship you have with your audience, push out those ads.
Then enjoy the positive comments that follow.
Those comments are reviews and they help win you new business.
5. Bypass email marketing limitations following GDPR
Whilst B2B email marketing is more accessible due to the ‘legitimate reasons’ caveat and opt-out, B2C is trickier due to opt-in.
Social media offers your as-yet unknown new customer base the chance to see how you communicate with your audience.
Pulling your target audience onto your company’s social media page means you then have a chance to encourage them to join your mailing list on a link pinned to the top of your posts.
Alternatively, consider Facebook Lead Gen forms on the ads you are pushing out.
Yup, Facebook think of everything.