It’s a tough time for marketing professionals across the world right now as marketing budgets are suspended, future revenues are uncertain, and generally, who knows how your customer landscape will look in ten weeks time. But it’s OK ?
As we’ve recently banged the drum for in our Ecommerce Survival Guide, today presents an opportunity for marketing directors and company owners with confidence and foresight to potentially spend more on their online advertising. Warren Buffet famously said “Be fearful when others are greedy, and be greedy only when others are fearful” and that’s a mantra we live by.
One area of digital marketing which is seeing an absolute boom right now is social advertising. As we spend more time indoors, and social media becomes the de rigeuer way of communicating, ecommerce traffic is up in many verticals, as people increase their casual browsing.
Here’s our take on why now’s the time to go all in on your social spend.
Social media use is peaking right now
We’re locked in. Many of us are working from home, and who can’t resist a quick 5 minutes on Instagram between emails? We’re all using social media more to communicate with our friends and family, so more of your potential customers are online.
Build that initial awareness by showcasing your brand, or your products, and seal the deal by remarketing to those that already know about you. You’ve got a captive audience, exploit it.
They’re cheaper right now
With so many people online, there’s simply more ad space available to you. If you only spent 15 minutes a day on Facebook before, and are now spending an hour, you’ll be seeing 4x as many adverts, giving more advertisers more chances to reach those eyes.
If you’re running social ads, expect to see cheaper CPCs, and increased reach that you just didn’t have only a couple of weeks ago. What a time to be alive.
Quick to get up and running
Your MD has a great idea! But it’s gonna take weeks or months to mobilise that offline campaign, or will have to go through a whole roll of red tape.
Social ads can be live within the same day, hitting your customers almost immediately, or at least ready for their Eastenders and Instagram dual-screen scroll.
And once they’re live, the algorithms are learning how they can get the best performance for you. Meanwhile, you’re tweaking creative, and we’re optimising the delivery in realtime, making you more money. Doesn’t quite resonate? No biggie, change your message or targetting and try something else. They’re super agile, which is absolutely key for a small business in a time like this.
Reach new customers
You know that we love Google Ads. Targeting customers at their moment of truth when intent to purchase is high is great.
And while social advertising can help you with this, it’s also fantastic at reaching customers who didn’t even know about you yet. For example, if you’re running an offline store which relies on footfall, which has recently dried up, social ads can help you reach those customers. Just online. There’s an estimated 42m Facebook users in the UK [source]. How many of them know about your product?
Facebook really knows your customers
You know how you always think Facebook is listening to you. It must be, right?! It’s not, it’s just an advertisers wet dream. A study found that Facebook & Instagram collect around 52,000 unique attributes to build a profile of you as a user. [source]
You already know the algorithm is good. Been thinking about pet food, and then suddenly, there’s an advert for tails.com? It’s not magic, Facebook just knows you better than your partner does.
Leverage this. The targeting options for social advertising are phenomenal, and while sometimes unnerving to users, they’re a phenomenal tool to you as a business. Want to target engaged women 25-29 who live in NE1 + 2 miles, and who are interested in one of your competitors?? Go for it!
Social advertising often gets a bad rep, but when used properly, it’s a highly effective tool in building some new brand awareness, as well as closing sales to your most highly engaged customers.