Billboards are out and paid online advertising is in! In other words, traditional, out-of-home (OOH) advertising has been replaced by digital, location-targeted advertising.
I mean, how many times have you received a leaflet through your letterbox recently promoting a local business? Apart from the occasional flyer from a takeaway pointing to their updated menu, the answer is probably very rarely – even less so in the wake of Covid which has led to virtually all business interactions being carried out online.
So, how exactly are businesses that don’t particularly cater for a large geographical audience and rely on local business, advertising?
Through Facebook and LinkedIn ads and, more specifically, through location-targeted ads. Paid advertising on hugely popular social media platforms, like Facebook and LinkedIn, is a highly effective way to guide traffic to your site and increase your brand awareness.
In 2019, Facebook was the second largest digital ad seller in the world (behind Google), generating a staggering $67.37 billion in net ad spending! When it comes to paid social media ads, Facebook dominates the global market, accounting for over 65% of total ad spending. LinkedIn is not to be sniffed at when it comes to paid ads. Research shows that in 2018, LinkedIn was used by 94% of B2B marketers in paid advertising efforts.
Put simply, businesses that are not jumping on the paid advertising bandwagon on the likes of Facebook and LinkedIn, are missing out on a huge chunk of local marketing potential.
How exactly does paid advertising work?
In a nutshell, paid advertising on social media involves a business paying to display adverts in various guises, or sponsored messages to their social platforms based on user profile, ie their demographic, like their local town.
Benefits of paid advertising
Paid adverts give you fast results, unlike organic marketing which is typically slower and more drawn out. With paid adverts you are guaranteed reach and content is utilised to increase brand awareness with specific geo-targeting, meaning you reach local audiences fast. This way, you benefit by obtaining high quality traffic and more qualified leads.
Affordable and measurable adverts
The costs associated with paid adverts are dependent on the type of ads run, which are dependent on the wider objective of the campaign. For example, if your aim is to increase brand awareness in the local community, a cost-per 1,000 impressions (CPM) will be incurred. If the objective is to increase web traffic, a cost-per-click (CPC) will be incurred.
Through LinkedIn and Facebook advertising you can set daily and total budgets and keep track of the money spent.
LinkedIn vs Facebook ads: which should you use?
We’ve convinced you that paid social media advertising is a good idea, so which platform should you use to garner the best results?
There is a natural assumption that because Facebook has more active users than LinkedIn – 2.2+ billion compared to 550+ million respectively – Facebook would be the superior channel. In reality, both Facebook and LinkedIn share similarities, as well as boasting different functionalities and the potential to reach targeted audiences.
And audience is the keyword here. Facebook is typically used as a platform to connect and communicate with family and friends, and therefore predominantly caters for audiences of a more personal nature.
LinkedIn is a professional networking site, catering for audiences of a professional nature, looking for advice on careers, networking and collaborating with like-minded people.
Before embarking on paid advertising on Facebook and LinkedIn, it’s vital to think about your audience and which platform will be more suitable to reaching and resonating with that local audience.
Don’t think about it too long though, else you’ll be missing out on the huge opportunities paid ads brings to businesses at a local level.
Like with any digital marketing platform, running paid ad campaigns can be time-consuming. If you’ve not got the time to devote to this important part of digital marketing, why not let the experts at IVC take care of your paid advertising for you?
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All marketing and advertising must be an accurate description of the product or service. It must be legal, decent, truthful, honest and socially responsible (not encouraging illegal, unsafe or anti-social behaviour). There are regulations which restrict what you can and cannot do. As well as the regulations, there are two advertising codes of practice which you need to follow to help you advertise legally. Before you embark upon any marketing, please ensure your communications are fully compliant.