Drill Tip: Planning Effective Use of Social Media Advertising
If you launch the most brilliant social media campaign ever conceived but no one hears about it, does it generate ROI? The answer is, most likely, “No.”
The fact is you have to have some method of generating awareness about your campaign. Spreading the word organically among a well-established, active fan base is one way. Getting marketing and trade media interested is another. A third, particularly if you’re just starting your brand out in social media, is to engage in social media advertising.
Social media advertising does for great campaigns what exercise does for great nutrition. It helps take advantage of an input to extend and strengthen the brand as a whole.
Though it should always be the last item on your list accounting for even a small amount of social advertising spend, anywhere from $50 to $250 per campaign can help ensure your campaign has the best possible chance for success.
Here’s a tactic to help identify just how much social media advertising you really need:
First, determine your ideal awareness to engagement ratio. A good way to do this is to take your last social media campaign and identify how many users were exposed to it. Look at the number of fans or followers on social media channels like Facebook and Twitter as well as the number of impressions on campaign microsites or landing pages.
Once you have a reasonable estimation of how many people saw your last campaign, divide that number by how many users actually engaged with it. This number is your awareness to engagement ratio. If you don’t have a previous campaign to use as a benchmark, start with a smaller ratio - such as 1000 users aware of your campaign to every 1 user engaged with it.
Now, identify your goal for users engaging with your new campaign. Select a goal that is both aggressive but attainable given previous attempts. Multiply that number by your engagement ratio and you should have a rough idea of how many users you need to reach to meet your goal.
Twitter’s new self-service dashboard helps users identify the right amount of spend to reach their target audience size.
Using self-service tools like Facebook Ads or Twitter Ads, you can now identify how much it will cost to reach a certain amount of users. Build that cost into your campaigns, along with media outreach and collaboration with partner brands that may have more established social media audiences.
By planning ahead, you can effectively evaluate and identify how just a few social media advertising dollars can help you achieve the kind of momentum you need for an amazing campaign. After all, if your strategy is as creative and innovative as you think it is, you should give your campaign the very best chance for success my making sure it reaches the best possible audience.