Social Media Advertising: Does It Work And What Does It Cost?

If you're interested in social media advertising - including Facebook, Insta, Twitter and YouTube - these frequently asked questions provide you with strong foundations for success.

Discover the answers to these commonly-asked questions about digital advertising.

Why should I advertise on social media?

The simple answer is that social platforms restrict the distribution of your posts. If you want to be seen by more than 10% or 20% of your followers, you need to pay for it.

Why is that?

Cynics say that these companies want to force you to advertise to get your message out in any volume. The less cynical argue that there is just too much social content from organic posts to be seen by everybody and for everyone to get an equal share.

Beyond being forced to pay to reach all of my followers and friends, what are the other benefits of paying for advertising?

The second reason  why you should post is because you can! It hasn't always been the case - and it can super-charge your marketing efforts. Social media offers you many different ways to target people who are:

• In your area.
• Interested in your product.
• In a purchasing frame of mind - and emotionally, in a buying mood through necessity or desire.

You have the ability to target them right at that hot moment, so why wouldn’t you take advantage of it?

What does social media advertising cost?

Unlike advertising in traditional media like a newspaper, social platforms do not have fixed rates. The cost of a single ad will be determined by how competitive your industry is. For example, many dentists advertise online. This means they compete on price to be placed high on page one, which drives up the cost. Think of it as a bid at an auction. You may pay a few cents or you may pay over $50 to rank high. There are a few things to note:

1. You only pay if someone clicks on your ad.
2. You have to know what you are doing. If you are paying a fortune, don’t just blindly accept it as being locked in.For example, Boylen reduced keyword spending from over $7 to below 70 cents for one client.
3. Where certain keywords are expensive, you will often find that other keyword phrases can be bought quite cheaply and deliver great results.

What’s the best piece of advice you can give me about social media advertising?

Do not set and forget. This is the worst thing you can do. If you are gaining customers, followers or businesses, and you are achieving this inside a budget, then keep doing it.  But if it is not working, perhaps you need to switch your style or research your industry a little more. If that still doesn’t work, find an expert who can do it for you.

How should beginners treat social advertising, compared to an experienced social media consultant or marketing manager?

Experiment. This is how you will learn. But the truth is that this advice also applies to the marketing managers who have years of experience. Never stop trying new things, even if your budget has been shrunk by Covid-19. (The real difference between newcomers and professionals will be the amount you commit to experiments and their level of sophistication.)

Allocate part of your budget to experiments across different types of advertising because Instagram, Facebook, LinkedIn etc all have different advertising opportunities. They all have a range of low-cost options.  You can budget your experiments over a week, a month or any time period that suits your needs.

What is the normal daily investment for social media advertising?

There isn't one. The amount that you spend each day is completely up to you. The main consideration is to ensure that it is cost effective.  When some small businesses come to us, they fear that they are going to be charged hundreds or thousands of dollars each week for advertising, but the reality is that they can set their own budget. Invest what you can afford. Then increase the budget if it is successful. By success, we mean that you are able to quantify how much it costs to get a consumer through your door. The ability to calculate your ROI is easier than ever before in history – it’s fantastic.  Keep that in mind when it comes to budgets.

How can Boylen assist?

We're glad you asked! We offer a complete service from planning through to execution and reporting, or we can provide individual services such as audits, training and creative services. You’ll find us very approachable and good people to work with.

Click on these links to find out more about our social media advertising services or use our Contact Form to get in touch.