Ways of marketing are forever changing object. Nowadays, no matter if your company is big or small, any marketing plan isn’t finished without social media. Social media platforms is the best tool to reach your clients directly, so if you want to beef up your business you know that there is no better solution than start advertising on social media.
Steps to make great social media marketing plan
Know your customer
Answer the most important question: who are you selling to? Imagine your perfect customer, what are his/hers interests, hobbies, gender, location, etc.? It depends on your product or services but you get the picture. First thing you have to do is to answer these questions and of course you can’t answer all of them immediately.
If you are unsure about some aspects of your desirable audience you have to do some experiments by showing ads to a different customer profiles and then analyzing data to determine which profiles works the best. After some time you will have your ideal customer you want to advertise to and knowing that will greatly improve the return of investment.
Know your goals
What is the purpose of your advertising campaign?
When advertising on social media it is crucial to determine your goals. Social media platforms are offering wide range of options:
- Brand awareness
- Increase Sales
- Website traffic
- Generating leads
Your goal will have huge impact on your further social media marketing campaign. Most of your ads will be created around these objectives and your job is to get most profit out of your goal.
Know your competition
As a new business you probably will have competition. You can have huge advantage if you do proper research on your competitors before even starting social media marketing campaigns. Gather as much information as possible, analyze their social media feeds. What posts are the most engaging? At what frequency are they posting? How do they answer customer questions? How they are using ads?
Find strong and weak parts of each marketing campaign and find a way to improve it. With this information you can start building your own social media profile and best part you don’t have to spend thousands of dollars on market research.
Choose right platforms
There are variety of platforms to choose from, each and every serves different purpose. Know as you know your customer, goals and competition let’s look at some social media platforms and what can they offer.
The largest social media platform with over 2 billion active users, Facebook could help you reach enormous amount of customers worldwide or locally. For advertising purposes you should read our article on optimizing Facebook ads campaigns.
Biggest advantage of Facebook is the amount of active users and highly customizable advertising campaigns. You can filter out people you want to show your ads by many different criteria and that’s what this is all about show right ads o right people.
However, before working with Facebook ads you have to question yourself how many ads you just scroll on newsfeed throughout the day? Probably too much. The fact is we are bombarded with advertisements constantly and to have really successful Facebook marketing campaign you have to step up your ad making game big time.
Youtube is the largest video sharing platform, second largest social media platform and usually referred as second largest search engine, after Google. It is good way to reach broad audience by creating video content. Just keep in mind that similar methods apply to optimizing your Youtube channel for search engine as to your blog website. Basic optimization rule stays the same just create relatable content for your audience and you will see the results.
Instagram is image and video sharing platform, with different sharing options such as story, live videos, albums. To get clearer image on how to advertise on Instagram you should check our article on this topic.
Twitter is live-action social media platform and in this way it is unique. News, sports, politics, science, entertainment and more you can find all these topics on Twitter. Why is it so popular amongst businesses? Well most of the businesses use Twitter as customer service platform, as they say about 80% of customer support are done here. Also Twitter is the place to share various updates on your business and get in touch with broad audience.
We should call LinkedIn a professional social media site, because now it has evolved into more than just an online resume and job search site. There is no better place to market yourself if you offer B2B services, since LinkedIn is the most trusted website among businesses.
Use your ever growing network to generate high quality leads or to spread word about your business. Do whatever you want but if you want to look professional online and get profitable connections you have to set up your LinkedIn profile.
Pinterest is platform for people to discover new things and get inspiration. Unlike any other platform Pinterest users actually finds out information that brands post useful. So, it’s unique opportunity to shape their decisions.
It is important to understand that Pinterest users want to be inspired to try new things, so being on this platform will help you to make up their minds.
Run ads, analyze results, improve performance
You have done your homework, you analyzed everything you can and now it’s time to run so ads. When you starting your campaigns it’s important to remember that your first promotions won’t be very successful. The key is analyze the results of first campaigns and the optimize performance.
There are several factors we going to overview. These are important indicators that illustrate the success rate of your advertising campaigns. Use them to analyze your mistakes and improve overall marketing performance.
Note: on social media there is option that allows you to boost your posts, but it’s far less effective that ads. Don’t waste money on post boosting!
Click through Rate (CTR)
CTR tracks your advertisement clicks that drives audience from social media platforms to your website landing pages one step closer to conversion. Having lower CTR will increase Cost-per-Click (CPC) campaigns cost, so it’s the first thing you should optimize.
CTR is an important indicator that shows if your content is relatable to the audience it appears. Low index could indicate that you selected too wide audience or that your advertisement doesn’t attract much attention. Average CTR on Facebook is about 1%, for Google Ads CPC campaigns it is about 2%.
Bounce rate measures the number of people who immediately left after visiting the website. Bounce rate is calculated by dividing sessions that ended immediately by all sessions.
Higher bounce rate is a sign that people after clicking on ads don’t find content on your page relatable or trustworthy, so they leave. Having lower bounce rate means people stay on your website and will increase your conversion rate in a long range.
To calculate a conversion rate first you have to define what conversion means to you. If you are selling products then it is easy, every sale is conversion, for other business it could be subscription to newsletter, app download, or registration to website.
Overall, the conversion rate is a measure of how many people walkthrough conversion process after clicking your ad. For Facebook ads you can use Pixel tool to calculate your conversion rate. This will run even if you not going for paid advertising campaigns.
Cost per Conversion
Cost per Conversion shows how much you spend on every conversion. While using CPC (cost-per-click) campaigns cost-per-conversion is calculated by dividing conversions by all clicks multiplied by average CPC (cost-per-click)
Cost-per-Conversion = Coversions / (Clicks * Cost-per-Click)
Subtract this number from the profit you get from conversion, as long as this number is above 0 you are making money.
Return of Advertise Spend (ROAS)
ROAS is an indicator that shows effectiveness of marketing campaign. It measures gross revenue generated for every dollar spent on advertising.
ROAS = revenue of ad campaign / cost of ad campaign
ROAS is considered the most important indicator of all marketing campaigns and it is the final result of all the work you’ve done on the campaign, form the preparation period to the actual ad.
Get your social media marketing plan
Make money or go broke it’s up to you when it comes to social media marketing. No easy way here, you have to prepare by doing lots of work in advance. Want us to do this work for you? Fill this form and get free social media marketing plan.