3 Reasons Why Companies Should Use Social Media Advertising
The first reason is that more people are now using digital media rather than traditional media. There are billions of people who actively use all kinds of digital media every day. How many people do you know that still read newspapers and magazines or listen to the radio? Probably not as many people as you know are actively on social media every day. In the United States, the average daily time spent with digital media has surpassed the time spent with traditional media. Therefore, it would make sense to use social media advertising rather than traditional media advertising because you are reaching a wider range of people.
The second reason companies should be using social media advertising is because it is the most cost-effective form of advertising available today. When looking at the average cost per thousand, or CPM measures of different advertising methods, social media is by far the cheapest. The average CPM for social media is $2.50, billboards are $5, radio is $10, newspapers and magazines are $16, broadcast TV is $28 and direct mail is $57. So, obviously, when thinking about advertising costs, social media advertising is the way to go.
The last reason why social media marketing is more beneficial than traditional media marketing is because it is highly measurable. There are not many ways to track your return on investment for most traditional media advertisements. For example, it you have a billboard advertisement, you may be able to track how many people drive past it on a daily basis, but there is no way of knowing how many people actually look at it or read it. Or if you have an advertisement in a newspaper or magazine, you could figure out how many people on average read that specific newspaper or magazine, but you will not know how many people saw your advertisement on a certain page and then visited your website. However, with social media, you can very easily track engagements with your post on any platform.
There are still many more reasons why social media advertising can be beneficial to a brand or company, but these three are some of the most important reasons. For companies that are looking to start social media advertising, it is very important to have a clear and detailed social media marketing strategy. Having a well-crafted strategy can be a game-changer for many businesses.
I feel the same way about how social media marketing is more prevalent than traditional marketing in this day in age. Recently, I have been talking with my parents about no longer pursuing my arts administration minor and changing it to either marketing or social media. After doing a lot of digging and understanding that I want to be on the digital side of marketing, we decided that next semester I will declare a minor in social media. It seems to be becoming the most efficient method of marketing with the factors such as cost and analytics. I enjoyed how streamlined this blog post was and that I was able to leave with new information!
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ReplyDeleteMarissa, I completely agree! With so many people on social platforms, it makes sense for companies to shift from traditional marketing to social media advertising. The cost-effectiveness is a plus, and the ability to measure everything in real time is huge!