There is no doubt about it – the total amount of social ad dollars is steadily increasing. According to recent reports, 2016 is expected to generate upward of $13.43 billion in social advertisement dollars, with social networks accounting for 20 percent of all U.S. digital advertisement spending.
Social giants such as Twitter and Facebook are going up against one another to grab their own piece of the pie by offering advertisers the shiniest and newest ad formats. These are providing a number of new promises to advertisers, including lower CPEs and higher ad recalls.
Some methods you can implement now to see greater returns on all your social media ad dollars can be found here.
Invest in Twitter Video Campaigns
If you distribute your videos on Twitter, you will have a cost efficient and effective way to drive up the frequency and reach of your video buys.
When you purchase and run a video campaign through Twitter, you are going to pay-per-view. Twitter states that a video view is chargeable when the video is 100 percent in view on the device being used and has been playing for, at a minimum, three seconds. This is efficient because you only have to pay for actual engagement, rather than impressions.
Run the Same Advertisement on Instagram and Facebook Simultaneously
Facebook refers to this strategy with the #CheckTheBox hashtag internally. This means that in order for you to run your ads on each platform, you have to check the right box in the Power Editor. This is pretty self-explanatory once you begin creating your ad.
This will allow you to not only have a presence on Instagram but also minimize the costs of your Facebook ads by providing more opportunities to reach potential customers throughout the day.
The ad you create will be optimized based on the actual objective selected. An example would be if you opt to “Send People to Your Website.” This means that the ad will be optimized to get additional clicks to your actual website. When you run your ad on both Instagram placement and Facebook placements it will be optimized to show on the location that will acquire the most clicks for your website at the lowest possible cost.
The Carousel Ads on Facebook
Another effective method to improve ad performance is by using Facebook Carousel ads. This allows you to showcase a number of images and links all in a single advertisement. These ads are able to be used in a number of ways, across any campaign objectives, which is typically determined by your brand.
According to Facebook, using a carousel link ad will drive a lower cost-per-conversion of 30 to 50 percent, which can be beneficial for businesses trying to make the most of their social media advertising dollars.
Another benefit of this type of ad is that it provides Facebook with insights to the links in the ad that are performing at the highest levels and provides you with the option to optimize the image order based on overall engagement.
The fact is, different ad formats and platforms will work differently for each business and industry. You may have to implement a bit of trial and error to ensure that the results you achieve meet your goals and objectives. Taking the time to get to know the latest and greatest options available can help you target and optimize your efforts better than ever before. When you use social media ads properly they can help drive traffic and conversions, which all businesses could benefit from.