If you own a small business and you aren't advertising on social media, it's time to start thinking about it. Facebook is one of the best options at this point with their advanced targeting features which allow you to hone in on certain demographics and interests. The social media companies look to make a lot of money because, simply put, advertising on social media works. That's why most small business need to start thinking about how they can best utilize social media advertising as part of their overall online marketing strategy.
Facebook Advertising Getting Easier
After its IPO missteps, Facebook went all out to raise revenue with numerous advertising products. Though plenty of money has been made, particularly with mobile advertising, Facebook plans to simplify its social media advertising product based on feedback from marketers. The launch of Facebook video ads, scheduled for Fall 2013, is on hold due to concerns about user experience. At an estimated $1 million to $2.4 million per daily spot, we think it’s safe to say that Facebook will figure it out and start rolling those video ads before too long.
Other Options For Social Media Advertising
Instagram, which was acquired by Facebook in 2012 for $1 billion in cash and stock, plans to begin selling ads within the year. Earlier this month, Instagram announced that it now has over 150 million monthly active users, a 50% increase since February 2013. With 150 million active users, it will be very smart to be one of the first social media advertisers in this market. These are very active users and our guess is the advertising will be hyper targeted.
Twitter has Promoted Tweets and is experimenting with Tailored Ads, an advertising product that is very similar to retargeting. This month, Twitter announced that it has acquired MoPub Inc. for about $350 million in stock. Looks like Twitter is ramping up its advertising options in preparation for its upcoming IPO. This means that as a small business you will have plenty of cheap social media advertising options in the near future. Contact Leap Clixx for all of your social media advertising needs.