Social media can be an enormously effective advertising tool, but it can also be a time and money drain. How do you know where best to spend your money? Just as importantly, do you have a tangible way to measure the ROI on your social media spend?
To help you avoid wasting money on social media ads that get you no ROI, here are some crucial tips to remember:
1. Target your audience. Any brand that tries to appeal to absolutely everyone, regardless of demographic, is doomed to failure. A successful brand is one that carves out its own niche and understands the needs, wants and challenges of its own particular customers. You should apply this same approach to social media advertising. Setting too wide a target audience is a waste of your budget. You should instead aim to squeeze every last penny of value from your social media spend by targeting your content – and defining your ad audience – to appeal to the people most likely to engage with it.