Merchant Circle recently completed a confidence index survey on small business owners. According to their results, 70% of merchants are currently promoting their businesses on Facebook and 58% are on LinkedIn. Does this mean that social media is working for advertisers? Or does this mean that small business owners are once again wrapped up in an ineffective marketing trend that will not last?
The answer is undoubtedly both. There are winners and losers on social media, and the space between them is increasingly widening. As competition grows for fans and likes, impressions become more expensive. The key to making it work is focusing on the right metrics. Figure out what your campaign goals are and stick to them. For many merchants this means sales, it make take a testing budget to find your social media niche. Facebook and LinkedIn offer great reporting features, use every piece of information you can to maximize your campaigns.
The Female 30-40 market is highly prized in social media circles. This means this tends to be a expensive demographic to target on social media sites. You should set up a campaign with a small budget and very narrow targeting options. Test ads and measure your results, start with a cost per click, cost per impression tends to be more expensive. Make sure to create multiple versions of all of your ads. You will probably see that your audience sees your ads multiple times also known as frequency on Facebook. Testing ad copy and images will give you the opportunity to test response to different messages and images. You will probably learn something from the results, and they may surprise you.
For more information on social media marketing please comment or email me. I would be happy to help you with your campaigns.
For full results on the merchant circle survey click here