How To Increase Conversions and ROI with Social Media Advertising
Social media advertising is a vast topic of discussion, it includes few of these techniques like audience targeting, budgeting, A/B testing, pixel tracking, writing and designing. You are required to analyse all these if you want to see positive ROI from social media advertising.
Even incredibly talented social media managers who look after multi-million dollar advertising budgets understand that it takes hundreds of experiments to master the art of social media ads.
After knowing about top marketers globally, we’ve discovered a simple 3-step approach to successful social media advertising. This approach will help you bring all the various elements of advertising together, so the 3 step approach is:
Over the years, we’ve devoted hours experimenting with various social media advertising strategies. Instead of focusing on individual tactics and channels that change frequently, we wanted to focus on a blueprint that could be applied to any business or brand, no matter what the industry or product is.
So, the social media advertising blueprint is broken up into three distinct stages:
- Awareness (Top-of-the-funnel)
- Consideration (Middle-of-the-funnel)
- Conversion (Bottom-of-the-funnel)
Most of the businesses complaint that they’re facing trouble in succeeding with social media advertising, particularly with Facebook, in selling their product or services.
Whenever we come across these type of complaints, one of the question we usually ask them: “Do you have any campaigns set up that aren’t simply trying to sell, but to generate awareness?” Mostly the answer is “no.”
It is really difficult to immediately start selling your product through social media advertising. As a marketer, first you have to build relationships with potential customers than you can ask for the purchase.
From there the idea of awareness, consideration, and conversions come into play.
Benefits of Social media advertising
- Campaigns are easy to track
- You can begin to drive traffic and conversions immediately (depending on your knowledge of customers)
- You’ll have a complete picture of the ROI on each campaign
- Tons of targeting options, including: age, likes, interests, income bracket, location, and other demographics
- Retargeting options for people who have interacted with your content or visited your website
- Relative to other advertising mediums, social media can be extremely affordable (which we all love)
3 Stages of Social media advertising
- Awareness Stage
In the awareness stage, people are not at all familiar with your brand as they are unaware of the fact that they have a serious issue that needs to be solved as early as possible.
- Awareness & organic content
The strategy for increasing brand awareness is to focus on organic social media posting and keep elaborating your top performing content.
This is the most feasible form of social media advertising, but it also assists brands in a way to capture new customer segment that they cannot achieve with traditional ads. As organic social media content is a powerful catalyst in increasing word-of-mouth marketing.
- Awareness & audience targeting
The most interesting part about TOFU social media advertising is that you can boost posts to specific, targeted audiences. In Facebook, you don’t have to use the “boost post” button that you see next to your posts in the feed. Instead as a Page manager, you can use Facebook Ads Manager to create a campaign (for traffic, engagement, or video views) to create a custom audience.
- Consideration Stage
The second stage of social media advertising is the consideration stage. When we consumers hear the word ‘Advertising’ only think about consideration and conversions. Consideration, in particular stage is where people are either familiar with your product or recognize that they have an issue and are researching options to solve their problems/challenges.
- Pixel Targeting
Pixel targeting is listed under the consideration stage where edge over proper targeting and retargeting can become a huge factor in the overall success of your ads. Targeting the correct audience can lead to higher conversions and lower costs. We recommend having the basic Facebook Pixel set up on your website. You can find your unique pixel in Facebook Ads Manager under “Pixels.” If you install Pixel than you can easily track the behaviour of users on your website and also target them with Facebook Ads in the future based on specific actions.
- Conversion Stage
The conversion stage is one of the difficult stage to master, but the professionals who commands over it can drive big results for their business. It is the stage when people become familiar with your brand or products and are ready to purchase from you, or they have identified a solution to their problem and are ready to purchase the product.
Success in the conversion stage comes down to three critical components:
- The quality of your targeting
- The quality of your ads
- The ability to track results
The conversion stage is knowing about how to track valuable pieces of content in every part of the customer journey.