The Future Of Social Media Advertising In 2019 & Beyond
If you want to know the future of Social Media Advertising then listen on…
Recently, Facebook announced for the first time that 2.5 billion people used at least one of its apps. To break this down across each of Facebook’s apps there are:
- 2.23 billion monthly users on Facebook
- 1 billion users on Instagram
- 1.5 billion users on WhatsApp and
- 1.3 billion users on Messenger
- And not to mention the huge audience across Youtube, Twitter, LinkedIn & Snapchat
There’s no doubt it’s becoming harder and harder for brands to catch our attention as competition increases and as a result our attention span has decreased to less than 5 seconds on the newsfeed per post.
Each day users scroll through 300 feet of content, giving brands a very small window of time to grab the users’ attention.
More importantly, the traditional advertising environment is shifting.
- People aren’t looking at billboards.
- They’re not paying attention to TV commercials.
- They’re not reading magazines.
So as a result to low demand and oversupply, traditional mediums have increased the medium price of their advertising placements to keep revenue flowing.
This means there’s a small window of opportunity for small companies, particularly in the B2C space, to take advantage of social media platforms before big companies start crowding in and driving the medium price up… just like we’ve seen with traditional advertising.
But first… we need to adapt our mindset to the “new world” of marketing and understand the key strategies to focus on to cut through all this clutter.
And it’s why I’m pushing so many businesses to get more practical on understanding the value of social media advertising
So here are some specific tactics you can use to run ad campaigns across Facebook, Instagram and Messenger in 2019 and beyond
1. SEGMENT YOUR AUDIENCE & SPLIT TEST EVERYTHING
Content is king when it comes to scaling your business on social media. You need a healthy mix of written content (in the form of articles or blogs), imagery and of course video.
Creating an ad campaign isn’t about coming up with 1 ‘magic bullet’ ad. Instead it’s about creating hundreds of different variations overtime like a ‘portfolio of assets’.
It’s much more powerful to segment your customer base into multiple audience pools rather than just rely on a generic ‘spaghetti on the wall’ approach. For example – if you’re targeting business owners, stop saying “Attention Business Owners”. Instead call out what specific field of business you want to target. For my business, we specialise in at least 6 main industries. These are:
- Health/Medical Professionals
- Financial Services
- Property Educators/Entrepreneurs
- eCommerce Retailers
You’ll be much more likely to get a positive reaction from your audience if you speak directly to them by putting yourself in their shoes and properly understand their needs.
2. VIDEO IS KING TO BUILD YOUR PRESENCE
If the market doesn’t know you, the best way to build an audience fast is through contextual short and long form video.
You can easily get hundreds of thousands of people to view your video by running a simple ‘Video View’ campaign with very minimal budget and management.
This is a superb way to gain credibility fast and you can use this data to convert prospects into paying customers.
3. TREAT YOUR ADVERTISING STRATEGY LIKE A FUNNEL
When it comes to advertising online if you don’t know what a funnel is by now, you must have been living under a rock.
Think of your advertising campaigns like a toolbox with top, middle and bottom of funnel tools.
With top of funnel, your goal is to open up your targeting to your cold audiences (i.e. people who might not have heard you before). With this, your tools need to be powerful like a chainsaw to cut through the masses aka video.
With middle of funnel, your goal is to drive consideration to get people looking at your owned media. With this, your tools need to be refined like a hammer aka your website, blogs, articles and free information.
Finally with bottom of funnel, your goal is to convert people into your core offer to make a sale. With this, your tools need to be even more refined like a chisel aka driving people to your salespage or order page to convert.
Without the right funnel strategy, you run the risk of not being able to effectively scale long term.
4. DON’T WORRY ABOUT VANITY METRICS LIKE CLICKS AND CPMS
I hear too many people focusing on getting clicks or trying to achieve a low CPM. The reason businesses are afraid to go narrow on targeting is for two reasons:
- They don’t understand their target market properly
- They don’t know how to track a conversion
When you go broad, the more “vanilla” your messaging needs to be.
When you go narrow, you might pay higher CPMs and clicks, but your creative has a much better shot at converting because you can tailor your message to your segment.
Too many companies are thrilled to pay lower cost for higher reach, then get confused when their creative doesn’t get anyone to do anything.
So start thinking of the conversion, and forget about clicks and CPMs.
5. KNOW YOUR NUMBERS BEFORE YOU SCALE AD BUDGET
There is no better testing platform out there compared to Facebook and Instagram. It’s crazy to think businesses will spend $10,000, $100,000 or even $200,000+ on traditional advertising or even building some crazy unnecessary website based on their own opinion of the market or tiny focus groups.
You can literally run an ad for $10 or $20 a day and get a pretty good idea of whether the market likes your offer within a few weeks.
You can test out your message on a blog post or even Facebook’s simple lead form tool. If that gets traction and interest, you can invest in a video. If that works, expand into something bigger and build out your entire funnel.
6. MESSENGER BOTS & CONVERSATIONAL ADVERTISING
Start treating your advertising like a conversion. The more native your marketing is, the more natural the journey will be for the user.
You can easily build Messenger bots through apps like ManyChat that allow you to engage with people in a way they haven’t been able to previously. If someone interacts with an ad, you can create interactive and automated sequences via the messenger app to give them the information and answers they need.
You can literally screen the lead before they convert, so you filter out the tyre kickers.
7. INSTAGRAM IS THE NEXT FACEBOOK
It’s estimated Instagram could contribute $20 billion to Facebook’s revenue by 2020, or roughly a quarter of Facebook’s revenue. Luckily, creating Facebook & Instagram ads are all run out of Facebook’s Ad Manager platform. So there’s no disadvantage to us advertisers… if anything it’s a huge benefit.
The Instagram ad platform is still in heavy growth phase and is an untapped marketplace for advertisers. Ad placements like the insta story has huge potential for advertisers to drive conversions and sales at a super cost effective price compare to other placements like right hand desktop ads.
However we need to ensure we make our advertising look natural because after all instagram is a lifestyle platform and was built on sharing our life experiences through imagery and video.
If you’re looking to scale your business in 2019, but can’t be bothered or don’t have the time or know how to do all this then we can help…
We’re currently offering a FREE Facebook Account Audit where we tailor the right ad strategy to suit your product or service.