Advertising on social media can be a useful tool for businesses. It allows in bringing advantages such as engaging with target audiences and boosting website traffic. The tremendous benefits occasion the sharp rise in social media marketing that this marketing effort offers. More and more businesses include social media marketing as part of their advertising plan, while those that already have a social media marketing campaign are doubling their budgets in this regard.
For a couple of years, social media has become one of the most powerful marketing and business promotions platforms. Social media has proven a very cost-effective way of promoting and advertising businesses. When we talk about social media marketing, it refers to any marketing efforts carried out via any social platforms. These social platforms include Facebook, Twitter, Instagram, Youtube, Pinterest, Tumblr, Tiktok, Lyka, and many more.
Social media made the world indeed smaller than before. Human interaction is made more comfortable than 1,2, 3. With the newest technological innovations in communication combined, social media platforms have become extremely powerful, especially in the business world. For example, during the fourth month of 2018, Facebook had over 2.33 billion monthly active users. That is why social media marketing or SMM made its way through the globally renowned mediated world. Although social media advertising has been around even before Facebook came into the picture, the technological evolution in online marketing was able to bring social media forward until to this day.
However, there always be two sides to everything, and that includes social media advertising. Advertising on social media will only prove successful if done correctly and effectively. For example, everything on earth has rules; failure to abide by these social media marketing rules will cause it to have a noticeable effect on your brand or business. In this article, let’s try to understand the impact of social media advertising on business and dig into its advantages and disadvantages.
Advantages of Advertising on Social Media
Customer interaction is a significant factor in marketing. It helps on boosting conversion rates that businesses have been promoting for a couple of years. Through customer engagement, a company can effectively establish a strong relationship between the business and its customers. The industry can choose to maintain a presence on a selected platform they desired that aligns with the target audience. Social media advertising can make customer engagement an everyday routine for businesses that stands to its primary function: communication. It also allows owners to interact with their customers and build good relationships in an up-to-date manner.
Establishing a business social media profile is a decisive step to help attract and increase brand awareness. Social networking sites like Facebook, Twitter, and Instagram, can be fair use for marketing your brand in the industry. The wider the audience reached, the more exposure you can get.
Higher Conversion Rate
According to a study, over 91% of retail brands use two or more social media channels to engage with their target audience. It is no doubt that advertising on social media can accumulate much traffic that will convert to sales.
Accessible Consumer Insights
Social media users are known to be vocal about their opinions when it comes to the latest trends. It allows businesses to identify their customer’s wants and needs and apply these insights to their marketing strategy to help increase product sales and build a strong brand impression.
Advertising on social media is most likely cheaper than any traditional advertising and promotional activities. But some of the platforms are free to create a business profile. If a business wishes to advertise on Facebook, you can easily create one without spending a single penny. The fact that you have the freedom to post about your brand is already incredibly helpful, although boosting your content’s audience reach is not for free.
Disadvantages of Advertising on Social Media
Advertising on social media may sound like an easy task, but it requires a lot of time and patience. You may also need a long period worth of luck to get immediate results. Social media marketing is a process that requires high consistency for the business to be known in the field they are building their name.
Prone to Security Breaches
Many people on the internet will do anything to gain access to almost everything that has monetary value, which gives risks to businesses who wish to advertise on social media. The stakes are high to business owners even though this disadvantage is rere to happen.
It is no secret that social media is full of fake news and content that could mislead many uses. Putting this in a real-life scenario, these types of misleading information can be triggered by negative feedbacks.
Hard to Measure ROI
According to a study, only 41% of marketers can measure their investment return. This concludes that even though social media advertising is gratifying, only a handful of marketers know how to measure their efforts’ effectiveness correctly.
High Volume of Contents
It will be hard for business owners to increase brand awareness due to the hefty content from other social media users. It is like searching for a particular business in a haystack.
Social media advertising has both advantages and disadvantages in digital marketing that can positively and negatively impact. It is essential to be aware of these factors before jumping on the trend. Understanding the possible effects of using social media advertising can help business owners to create and established strategies that are efficient for the betterment of their business.