Ronn Torossian on data-driven social media ad campaigns — Hometown Station | KHTS FM 98.1 & AM 1220 — Santa Clarita Radio
Ronn Torossian, According to the founder of 5WPR, most companies will increase their social media ad spend in the coming months, according to marketers. The results of their ad spend are unclear. Proving the return on investment (ROI) of social media spend can be a bit difficult for businesses, especially when trying to increase their social media ad spend budget.
Before looking to increase a company’s social media advertising spend, it’s important to understand a few key factors about social media platforms. The first thing businesses need to know is that social media ads have become more customizable than ever. Nowadays, companies can create dynamic advertisements. These types of ads can change their format, call-to-action buttons, and copy, all based on what’s most effective with the target audience. All companies need to do is create different advertising options, and then the social media platform can mix and match those options until its algorithm finds the combination that best motivates the target audience to take action. The algorithms are so sophisticated that they can even reduce the exact punctuation businesses need to use to convert customers more effectively. This type of data-driven marketing spend can end up saving businesses a lot of money in the long run. Additionally, while businesses are busy calculating CPM and CPC, they can also use social media ads to improve customer experience. This is done by targeting ideal customers and asking them to complete surveys to generate specific feedback at the start of a large promotional campaign. This will ensure that the company starts its campaign on the right track.
By now, most businesses are familiar with some of the metrics that social media platforms provide for businesses, and many are aware of how useful certain metrics are over others. For example, the number of likes on a Facebook page or the number of views of video posts are not very useful metrics for many businesses. After all, a company’s message won’t resonate with the target audience if they only see the first three seconds of a video posted by a company. Instead of this metric, companies should focus on measuring watch time and should encourage users who watch at least half of a video to come back to the company. The same logic can be used with website visitors, where businesses can measure the quality of their social media traffic instead of the quantity. They need to look at the time people spend on their website, as well as the bounce rate. As a business improves its targeting efforts in its advertising campaigns, it should see the quality of traffic to its website increase. That’s why it’s important to measure and track the right numbers, instead of vanity metrics that aren’t as useful as many people think.
Ronn Torossian based 5WPRa top 10 PR agency.