If you want to grow your business in 2022 but are unsure of where to place your marketing budget then this is the article you have been looking for. When it comes to allocating your marketing budget to social media advertising, you may be wondering how such a saturated space could possibly result in a return on investment for your business. But we are here to tell you that with the right social media lead generation strategy in place, you have the power to attract, engage and convert your leads through tailored social media content and create long-lasting relationships with your clients.
In this article, we will take a look at why social media marketing is powerful for business growth in 2022.
Why Social Media Ad Spend Is Worth It
The social media landscape is constantly evolving and with new platforms and related technologies making their way into modern consciousness every day, social media is one of the most effective marketing tactics for business growth in 2022.
Below, we take a look at why you should invest in social media ad spend in 2022.
1. Reach the Target Audience
To put it simply, your customers are already on social media. 4.55 billion people are active on social media and engage with social media platforms every day, so why not reach them where they are at?
Not yet sold on the above statistics? Let’s dig a little deeper.
57.6% of the global population is active on social media and that suggests that well over 9 in 10 internet users use social media monthly and there has been an annual growth of 9.9% or 13 new users every second. Yes, every single second.
Now, let’s take a look at some interesting statistics per social media platform.
- 42% of Twitter users visit and engage with the platform daily
- 63% of Instagram users check the platform daily
- 1 billion hours of YouTube content is viewed every day
- 47% of Pinterest users find shops through the platform
- There are over 645 million people on LinkedIn
- Facebook has an estimated 2.91 billion monthly active users
- TikTok is quickly rising up the social media ranks and now has over 1 billion active users
The above statistics prove that your target audience is present on social media however, you need to understand your audience and know which social media platforms they prefer. Once you have identified where they are most active, you can begin planning your social media lead generation and ad spend to suit your audience preferences.
2. Increase Brand Recognition
By using paid social media marketing tools in partnership with organic content, you are able to strategically connect with people who are interested in your business and your industry. When you create campaigns directed to your specific target audience, you collect high-quality followers who have the potential to convert into loyal customers.
Once you have attracted followers through paid advertising, you can use quality organic content to build brand recognition with your specific audience which ensures they become familiar with your brand and your business. It is this familiarity that builds brand trust and ultimately leads to increased sales. When it comes time for your leads to convert, they will choose your business as you have built trust with them through your social media content and engagement.
3. Gain a Return on Investment
As a business, you want to make sure that you are spending your money wisely and getting the most out of every cent spent. When it comes to digital marketing, social media is actually one of the most cost-effective strategies for growing your business and your brand.
Your social media profiles are free to set up and creating content for your platforms is not as difficult as it seems, in fact, you are able to repurpose all your current marketing collateral to suit your social media marketing efforts. That means you can share your blogs on your Facebook pages, reuse website images on your Instagram profile, and recreate blogs by turning them into video content for social media platforms such as YouTube and TikTok.
The above can all be done organically but investing in social media ad spend, specifically for lead generation purposes, will ensure you see a significant return on investment.
Social media ad spend is estimated to grow by 25% year-on-year and this growth predicts that social media spend will clip that of paid search, which is estimated to total $135 billion.
Paid social media advertising provides incredibly high conversion rates with significantly low costs - making a return on investment that much more profitable. The top social channels are now providing the most advanced lead generation specific advertising options which allow marketers to gain leads through highly targeted social media ads - based on demographics, user behavior, careers, likes, dislikes, location, interests, and more.
Not only are businesses able to reach the ideal buyer persona through these platforms, but they also provide lead generation-specific advertising formats to help businesses generate quality leads. For example, when a user clicks on a lead-specific ad, they are provided with an opt-in or lead generation form where they can place their contact information. This makes the process of gaining lead information easier - and allows for greater lead nurturing campaigns and email drip campaigns, which leads to increased sales.
When it comes to B2B marketing, LinkedIn offers a similar strategy by providing LinkedIn lead generation forms, making it easier for prospects to share their information with businesses.
4. Measure Campaigns in Real-Time
By investing in social media targeted campaigns you can improve your lead quality - taking your sales to greater heights and most notably, all of this can be tracked, amended, and measured in real-time.
Through social media marketing tools, you are able to track and measure your lead generation efforts. By keeping track of your campaigns you are able to sharpen your strategies and make your campaigns reach their true potential.
This can be done through social listening which tracks your audience engagement and informs you every time your brand is mentioned. By investing in social listening you are given actionable insights which allow you to reach your audience at a greater level, and you are able to learn about them and their buying habits through this tactic - allowing you to optimize your campaigns and gain even greater success and receive a significant return on your marketing investment.
5. Beat the Competition
Another reason social media ad spend is important is that your competition is doing it and you don’t want to get left behind. All industries are present on social media in one form or another and your competitors are constantly building connections with your target audience through their social media presence. You need to keep up and improve your efforts in order to take the market share.
This sounds simple enough because it is just that simple.
Social media is not just a way to increase brand awareness and engage with consumers, it is a platform that allows you the opportunity to reach the highest quality leads, increase conversions and make more sales. Ad spend on social media is not an expensive endeavor and when the right strategies are put in place, you can be sure to see a significant return on your investment, one that is easily measurable.
Lead generation continues to evolve with the times, and if you put time and effort into your lead generation campaigns by understanding your audience, creating relevant content, promoting that content on powerful platforms, and continuing the conversation, you will attract quality leads and convert those leads into loyal customers.