Deloitte’s yearly Media Consumer Survey is out and the findings are pretty interesting. When it comes to our use of social media, apparently we’re sick of it!
The number of businesses using social media ads has increased, leaving us all feeling like our News Feeds are catalogues, but if you’re a small business, don’t abandon your social media strategy just yet! According to the Deloitte survey, social media has also become the fastest growing influencer on purchase decisions. What these statistics really point to is that consumers don’t like how brands and advertisers are using social media to promote themselves.
What’s key here is understanding why your consumers are on social media and the answer to that question is easy – they want to be entertained, not sold to.
I spoke about this in an earlier blog, titled Why Inbound Marketing Works. Consumers want more utility from social media, not a door-to-door sales experience. They are willing to engage with your brand, but on their terms, and many are feeling overwhelmed by the ads in their feeds.
This actually creates a bigger problem overall for businesses as social media sites like Facebook, Instagram and Twitter will respond by limiting the amount of ads they place in a user’s feed. This will drive cost up even further for small business. Now, if your ads are converting and your returns are still significant, this may not phase you too much, but more than ever you need to be completing appropriate and detailed analysis on your cost per lead and earnings per lead to figure out if this avenue is still worth it (see blog Facebook Ads Metrics to learn how). Don’t rely solely on the metrics provided to you through features such as the Ads Manager on Facebook, unfortunately you are going to have to get your hands dirty with the numbers.
To continue to remain successful with your ads, ask yourself what value you’re providing by creating the ad. Are you running a special or sale? Are you offering something of real value that would benefit your consumer? And, lastly to ensure your ads are having the most impact and reaching the correct audience, really think about your targeting. Facebook offers an excellent feature to target “lookalike audiences”. If you have run a few campaigns in the past, Facebook has kept the data of the users who engaged with those ads, to help you reach more people like them in the future. To learn more about lookalike audiences click here.