The modern world develops very quickly. New technologies capture not only the scientific and technical spheres but also the everyday life of every person. Gadgets of various shapes, sizes and appointments have become the usual attribute of daily existence, which can help in work or study. Social media plays a very important role in our everyday life. Online communication, viewing for friends updates or interesting pages has long been an integral part of life. Approximately 65% of the users logging in to the Internet, visit only social networks. In average, a user spends from two to six hours a day on social networks, mostly for entertainment purposes. Throughout this time, the user is in the zone of information exposure that is committed by social networks. Advertisers use such a great opportunity to promote brands, goods or services (find more details about it at banana website).
The sphere of influence of information sources is expanding. Consequently, various companies must take this aspect of advertising into account, trying to attract the attention of potential customers. After all, now all modern and influential firms must have their own site and actively use it.
Special attention on social media add should be paid to those companies whose products or services affect the interests of young people and middle-aged people. Promotion in social networks can significantly increase company sales.
Currently, every user of social networks is an active consumer of the most diverse information and daily passes through a huge amount of data. At the same time, the level of trust in the information received from social networks, as a rule, is high, because the information is provided the user from those sources, loyalty to which he personally confirmed. For example, such sources may be user’s friends, as well as community or public pages to which the user has subscribed.
Advertising in social networks in most cases provides a wide audience coverage, high targeting, and high response, and therefore has very powerful potential. However, of course, if you need to use the possibility of such an advertisement correctly. Otherwise, the social media budget will be spent, and the expected increase in the interest of users to the product, brand or service is not going to happen.
Many people invest in Instagram. Target advertising on Instagram is no different from the target advertisement in any other social network and generally on the Internet. Such adds do not see all the users in a row, but only those who come up with pre-set criteria – by age, gender, interests. Advertising on Instagram is a logical and understandable development of events. Of course, it can be effective, if to place ads correctly. The most important thing is the picture you are going out with. In it, content is of the utmost importance.
Conditionally, each social network is a mini-internet. So, just like the Internet, the first step in SMM is almost always to competently create, brand, and customize the basic display of your business in social networks – the corporate page (community, profile, and group). After creating a corporate page, you need to fill it with interesting base content. It is necessary to publish interesting posts, polls, competitions in daily or another periodic manner.
How Much Does Social Media Marketing Cost?
It is believed that high-quality professional advertising on social networks is quite expensive. In fact, social media advertising cost depends on the result you want to get. The desired result will be proportional to the budget. If you want cheaper it means that will be doing the less necessary work. But high-quality work, which leads to a decent outcome, always costs money! In average, good professional social media ads cost from $1,000 per month to $20,000 per month.
For the most part, the payment of internet advertising occurs under one of the following schemes:
Cost per thousand impressions. The advertiser pays for the number of impressions for his or her add a message for a specific audience;
Cost per click. The advertiser pays whenever a user clicks on his add that leads to the landing page;
Cost per action. The payment is made for certain action by a potential customer. It can be a purchase or an application.
How Much Do Companies Spend On Social Media Advertising?
One of the key issues that entrepreneurs ask is: “How much should my company spend on marketing and advertising?” Unfortunately, instead of finding an answer to this question, most simply ignore it and hope that the problem will be solved by itself.
Some companies believe that the main thing – it is a good quality product, and customers will come to themselves. This opinion is the biggest mistake of modern entrepreneurs. Undoubtedly, marketing is necessary. The question is only where to take money for its financing and how much money is needed? The exact answer to this question does not exist, but there are general principles that will lead to an optimal formula, based on the specifics of a particular company.
First of all, you need to determine which advertising, and which marketing moves are most conducive to attracting customers in your industry. Explore the behavior of consumers. What motivates them to buy? Where do they take the information? What are the sources of trust? Large companies often publish financial statements that contain information on marketing costs. By the easy calculations, you can determine what percentage of marketing costs are from total revenue.
If you can not find analytical information in your industry, then first try to spend on marketing about 5% of total revenue. Then, this indicator can be adjusted based on market analyses, competitor actions, and other factors that affect your business. So, if your income is poorer than your competitors, then it is worth trying to spend more on advertising.
So the social media marketing budget of large companies is not so big. But in general, it depends on the desire of an entrepreneur.