Social media advertising has come a long way in a relatively short period of time. When Facebook launched its first advertising option in May 2005, no one could have predicted that social media advertising revenue would be estimated to reach $8.4 billion in 2015, just ten years later.
Online advertising is a natural choice for modern businesses, but after the decline of the banner ad, businesses began searching for alternatives. Paid search is a great online advertising medium for driving visitors to your website based on user intent (i.e. their search query). But what if there are no identifiable (or affordable) keywords you can bid on to drive traffic? And what about those businesses that want to create brand awareness rather than capturing user intent?
Social media advertising helps businesses find new potential clients by using users’ own shared information to identify interest. Rather than reactively targeting users who search a certain term, social media advertising proactively targets relevant users before they even begin their search.
Social networks are a good option for advertisers because of the advanced targeting options, reliable conversion tracking, and prevalence on mobile devices.
Advanced Targeting Options
Because social networks gather such a larger amount of user information, social media advertising is able to target your audience in a wider variety of ways than other online platforms. Stretching beyond general demographic and geographic data, social media advertising has opened the door to deeper interest, behavioral and connection-based targeting methods.
These advanced targeting options increase your ad’s relevance to your users and provide a level of personalization that is not achievable on other advertising channels. Here are four such advanced targeting options:
- Interest targeting: Reach specific audiences by looking at their self-reported interests, activities, skills, pages/users they have engaged with, etc. Interest targeting is often related to keyword targeting, so some platforms will allow you to enter both. Interests can be as general as an industry (e.g. automotive industry) or as specific as a product (e.g. convertibles). Offered by: Facebook, Twitter, LinkedIn (under “Skill”), Pinterest.