What Social Media Platform is Right for Your Company? #1: Facebook

 In Business

The number of social media platforms that are touted as the next big thing for small business is staggering. Many smaller companies waste thousands of dollars and hundred of hours attempting to capture views/shares/etc. on new platforms, only to have their conversions plummet after a few months. Take, for example, the video streaming services like Periscope and Meerkat. In mid-2015, every business was streaming their work party or annual sales call. But how many of those streams and views actually led to meaningful consumer engagement? How many dollars were spent getting the right content strategy in place for the platform? Now that feelings have cooled towards these services, what good came of the effort those companies put into marketing themselves on the platform?

With all the different avenues for your social media marketing dollars, and the limited budget you have allocated to marketing in general, it becomes difficult to decide what platforms to pursue. That is why we wanted to highlight the benefits and challenges that you might face on three of the most popular social media platforms. Today we are going to focus on:

Facebook

Facebook has been around since the early 2000s, and the demographics of their user base have changed considerably during that time. What started out as the alternative to Myspace for teenagers and college students has become a global company that draws users from all walks of life. One of the amazing things about Facebook is the sheer density of users that share interests, beliefs, and/or buying habits. Using Facebook’s advertising tools, businesses can focus almost exclusively on the people and places where their products are most likely to be used or purchased. Own a natural foods company that wants to launch products for single men under 30 who love the outdoors? Facebook allows you to create audiences for your product ads that specifically target male users who are between the ages of 18 and 3o, have interests related to the outdoors, and who have purchased natural foods in the past. You can even go as far as to exclude certain areas or people from your audience, removing people who make under or over a certain annual income, or those that live in a state that already knows your product.

These benefits, however, come with a few downsides. If your company doesn’t have a clear vision of who or what your intended market is, then your advertising dollars are going to be wasted on Facebook. Without a clear vision for who will be interested in your products, you are going to have a difficult time getting a low cost per click on your ads. Facebook requires some detailed knowledge of your product’s audience and your initial few months will be spent modifying ads and wasting a bit of money to find out exactly who those people are. But once you have figured out the exact people that are interested in your message, there isn’t a better place to put your advertising funds.

 

Feeling out-of-date when it comes to social media marketing strategies? Don’t limit yourself to outdated methods and strategies. Let dRAE Media & Marketing help you reinvigorate your social and digital strategy. Doesn’t matter whether you are in Louisville, Lexington, or Timbuktu, we have the tools to take your business to the next level. Contact us today and let us show you what dRAE Media & Marketing can do.

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