The low cost of social advertising will be short lived

The low cost of social advertising will be short lived

There’s this pervasive belief that social media has been and should remain a free platform for people to promote their businesses, as well as a space to share with friends, family and followers. For many, paying for this service is simply out of the question.

I get where people are coming from. As a content creator, I took pride in achieving great organic reach for my clients, by producing good quality content in the form of blogs, video and strategy. It was a cornerstone of my business.

With Facebook’s recent changes, which made organic reach even harder — near impossible — to achieve on the same level, marketers and business people, myself included, felt betrayed by the Zuck, many deciding to move away from the platform, exclaiming that Instagram and LinkedIn would be their focus. I have no issue with either of those platforms. In fact, businesses should definitely be playing there. We are.

But Facebook’s move was not about shutting out marketers specifically. It was about ensuring that they keep people on the platform, and keep winning new users. It was critical for their business that they did not see people leaving their platform in droves, as a result of newsfeeds being filled with people posting advertorial type material constantly. Instead, they want companies to pay for it. They want people to see what their friends are doing first, and what Nike is doing second (unless Nike pay a lot of money to be there constantly).

Something that really struck me recently, having worked in the print industry earlier in my career was how much investment companies would make on print advertising for access to a potential audience, and they’d do it without a second thought. Not only would they drop tens of thousands of dollars, sometimes hundreds of thousands on this medium annually, they’d also spend huge amounts on creative, strategy, execution, without really knowing what impact it was having other than the bottom line down the road, than the numbers they were being fed by the publishing companies themselves.

Fast-forward ten years, and these same companies refuse to spend a fraction of that money on social media advertising, even though they are getting more of a guarantee on who is seeing it, where they live, what their interests are, how old they are, what gender they are and for how long they are engaging with it. And further to that, they are getting information about what actions these people are taking after seeing your ad. They are refusing to do so, I believe, because of this idea that social media should be free for all, but also, this belief that social media probably doesn’t work for them.

Something I’ve had to adjust to is the idea that the same content, or even better content that we are creating now, needs dollars behind it to reach people on Facebook. Yes, there’s still organic value on Instagram, but in addition to the other main inhibitors of the Instagram platform, namely that you can only post a video that runs for 60 seconds, it’s less copy based so you have to nail your messaging in different ways and that it’s a mobile platform rather than a desktop one, Instagram is also owned by Facebook. As marketers and businesses flood Instagram with content, changes to that platform akin to the recent Facebook changes, are merely a matter of time. Both LinkedIn and Instagram are going to have to go through a similar process as Facebook if they intend to keep eyeballs on their feeds into the future.

The point is, the situation isn’t going to get better for you to promote your business on social media, and it certainly isn’t going to get cheaper. Quite simply, now is the time to be on these platforms and paying money for the reach, while it’s still dirt cheap — and it is dirt cheap.

Ultimately, advertisers go where the people are, and more importantly, where people’s attention is. The big companies of the world will work out eventually that people’s eyeballs are on their phones and on social, and your newsfeeds will be chock full of ads by the usual culprits that own the TV and billboard space currently. Because the competition for this space will heat up, so will the cost of entry, pushing the little guys out and back to square one.

That hasn’t happened yet. Don’t let this opportunity pass your business by.

If you’re looking for a business that knows how to manage your next paid campaign, contact Hook Media at info@hookmedia.com.au.

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About The Author
Davin Sgargetta Davin Sgargetta is the Director of Hook Media.

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