As social media ads continue to perform excellently across all digital platforms, Exults Internet Marketing Agency offers insights into the trend.
Although the move to digital advertising has been underway for some time, the challenges of 2020 have accelerated the transition much faster than expected. With in-person business limited in many areas and consumer fears higher than ever, companies have had to find more creative ways to communicate with their customers. For many of them, this has meant taking advantage of social media advertising opportunities.
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According to Marketing Dive, four in ten consumers now check their phones every few minutes, which the company attributes to wanting to stay up to date in the current climate. This frequency of browsing gives businesses the opportunity to keep an eye on their brands, provided they have a well-planned marketing strategy across all digital channels.
After all, around 45% of consumers are likely to buy brands whose ads they come across. In addition, 31% of people who use social media used their platforms for product research – and that number shouldn’t increase until 2019.
“There’s a reason this advertising space has grown so much in recent years,” said Zach Hoffman, CEO of Exults Internet Marketing Agency. “One of the main advantages of advertising on social media is that these platforms make it easy to target specific audiences.”
Around 21% of respondents in Market Dive’s survey confirmed that the ads on social media were tailored to their specific interests. This number is significantly higher than the 9% who saw personalized television advertising.
And it seems that consumers are more open to advertising from companies they are genuinely interested in. Almost four in ten social media users said they follow companies they enjoy on the platforms of their choice, reducing the chances that the branded content they encounter is intrusive or undesirable. These perceptions are unlikely to show up if the advertisements they see are also targeted towards their interests.
Studies also show that advertising is the most effective means of brand discovery within a given social interface. You will be better received than celebrity and influencer support, page updates, recommendations or comments.
With global ad spend projected to be $ 517 billion by 2023, it doesn’t seem like personalized social media ads are going anywhere. Going forward, this is a marketing strategy that savvy companies don’t want to fall back on.