This week we’re talking about all things ad spending—the $$ paid for advertising on social media. If you’re a social media user yourself, you’ve probably noticed firsthand that ad spending has continued to increase year after year. But with so many platforms, types of advertising, and varying costs, how’s a brand to decide the best course of action? Don’t worry—That’s where Media À La Carte comes in.
10 Key Factors For Succesful Ad Spending
Step one is the same as nearly every blog post we share: know your audience. Who exactly are you targeting? What are their demographics (location, gender, age, and level of education) and psychographics (behaviors and preferences)? Create one or a few brand personas that demonstrate your ideal customer. Now, when it comes to social media, where are your personas spending their time? If they’re Gen Z that might mean TikTok or Instagram while Boomers may be more inclined to use Facebook and LinkedIn. There are a lot of platforms out there and you want to make sure you’re directing your advertising efforts in the best way possible.
Once you’ve got a handle on your target audience and where they’re living, take the time to determine your advertising goal. Are you a newer brand that wants to build awareness? Or perhaps you’re a more established company looking to pivot in a new direction (and reach a new target audience)? Maybe you want to cultivate more leads, boost engagement, or gain more subscribers. No matter what your objective is, the important thing is defining it clearly and concisely.
Next is the sticky part: outlining your budget. Your budget will confine how exactly you’ll strategize your game plan, since it provides constraints to what you can achieve. Be realistic with your advertising budget, especially if this is your first go at social media ads. It’s easy to throw money in a bunch of different directions and just hope for the best (in marketing, this ‘method’ is called the ‘spray and pray’). But your return on investment will be a total gamble. That’s why steps one and two are SO important. Doing your research will ensure your budget is allocated in the most effective way possible.