Understanding Your Social Advertising Investment Options
The infamous “Boost” button. As an Admin on a Facebook Business Page, have you been tempted to hit that button to find out what it could do for your business? Or have you clicked it, invested a few hundred dollars, only to find that you have no idea what you did and cannot say exactly what your advertising investment did on social media? If you answered “yes” to either of these questions, you are a part of the majority of business owners with social media accounts trying to do it all on their own, but struggling to do so and understand ROAS (Return On Ad Spend).
Let’s simplify what a Boost actually does for your social media. When you click the Boost button on one of your page posts, it allows you as a Page Administrator to invest an advertising budget into that post to gain further reach and engagement outside of your page followers. It’s the quick & “easy” way to advertise on Facebook for your business. Here’s the catch, once you decide to give it a try, although you are not given a multitude of campaign objectives to choose from, intricate audience targeting to filter through or the option to add in your own creative, you still have choices to make. You’ll have to decide who you will target, what your goal of the Boost will be, how much many you will spend and in what timeframe you’ll advertise. Regardless of the amount of money you choose to spend be it $5.00 or $500 – it’s still an investment and one you should make wisely for your business. After all, when you choose to invest in a billboard or a full-page spread in the newspaper, you understand exactly what your money will do by advertising in that medium, right?
That question leads me to the next point, which is what do you want your advertising dollars to do? How are you measuring your ROAS across all of your marketing efforts? The evolution of social media advertising has opened up the very new and needed conversation for business owners and marketing professionals that did not happen as often as it should have been in years past. Traditional marketing efforts, while effective, have not provoked the question as social media advertising has of “what results will I get from my investment?” Regardless of if you know what you’re doing on social media or not, the analytics are there to see if you look deep enough in your dashboards. Eventually, you’ll be able to gain at least a small glimpse into if your ads performed or not on that channel. The analytics of what a newspaper ad or billboard gleam outside of readers and passerby’s are not readily available to businesses in their accounts. Unless a measureable call-to-action is placed within those ads, brand awareness remains the main objective to try to measure from traditional advertising.
We are not saying traditional advertising is not effective or still necessary, but we are stating that more businesses should be taking a better look into their overall marketing strategies. Then evaluate how their current advertising efforts are assisting their business goals. At Fourge Social, we want to know everything our partners are doing to advertise their business. This helps to paint the full picture of how our efforts on social media will be amplified by other marketing or if social media is the only advertising being done for a business. We are the experts in social media marketing and advertising, but YOU are the expert in your business. No one can determine what your goals are for your business except you. Of course, we all need some help sometimes and our team is ready and willing to discuss your marketing efforts to create a social media strategy that works to support your business goals.
To circle back to giving your business a “Boost”, if you have tried this and have no idea what you did that’s okay! In fact, we applaud you for trying. It gives us something to at least evaluate in your first steps in a social advertising strategy. For those of you who have been scared of pushing that button for fear of wasted dollars or because of what you’ve heard about the world of social media advertising, that’s okay too! Wherever your business is at with its’ marketing and social media strategy or lack of, it’s never too late to get started. Start off the summer with a fresh point-of-view on where you are and could be on social by calling the Fourge Social team today for a social media consultation. We want you to spend your money where it makes sense and understand the kind of return to expect.