Social media has come a long way. However Social Media advertising started to gain popularity only in the last 3 years. Facebook launched its advertising options only in 2005 and by 2015 social media advertising revenue has grown to $8.4 billion
Banner ads have been industry favourite for a long time now. But in the recent years banner ads have started to see a decline. As an immediate alternative, paid search is a great online advertising medium for returning visitors based on user intent (visitors’ search query). However, there are two other questions that businesses must address which cannot be tackled by paid search ads.
- What if there no such user intent keywords that one can use to bid to drive traffic?
- How can one capture traffic for brand awareness and not just user intent
Social media advertising helps companies find relevant clients by providing audiences’ shared information to identify their purchase intent. Instead of targeting users who search a certain term, social media advertising reaches out to relevant audiences based on their past behaviour before they initiate a search. Social networks are a good option for advertisers because of the advanced targeting options, reliable conversion tracking, and prevalence on mobile devices.
User interest targeting: Based on the users’ past search behaviour, activities and pages that they have visited, advertisers reach out to specific audiences. Interest targeting is often related to keyword targeting. Interests can be as general as an industry (e.g. automotive industry) or as specific as a product (e.g. convertibles).
Behavioural targeting and retargeting: With the behavioural approach, advertisers can reach to people based on purchase behaviours or intents and/or device usage. Advertisers can also reach people who have a executed a specific search that maybe related to the advertisers’ service, product, app, group, or event.
When deciding which channels to use to grow business in the coming years advertisers must try social media advertising as a supplement to their existing growth strategies.