It is no secret that social media has evolved into a powerful marketing tool over the years. It's also no secret that organic content no longer cuts it; if you want your content to be seen, you need to be putting money behind it. According to Statista, social media advertising budgets have doubled worldwide over the past 2 years—going from $16 billion in 2014 to $31 billion in 2016 and it is only projected to increase. Specifically, in the U.S. alone, social media spending is anticipated to surpass $17.34 billion in 2019.
That is a vast amount of spending, but the good news is, in comparison alternative advertising options, social media advertising is considered to be one of the most low-cost approaches. In fact, it's possible to gain valuable ROI when only spending $100 per month on Facebook — and if you choose to spend more, there is typically a direct correlation with an increased budget and the value of your ROI.
Although the value of paid posts is evident, we understand that social media advertising is an oversaturated area which makes it hard to decipher where you should be spending your advertising dollars. Here is the hierarchy of social media channels that you should be advertising on based on the return on investment they can provide and show you:
Now, this list will vary depending on the type of business you are, however, when executed methodically, Facebook and Instagram ads are tried and true in that they will offer you a return on your ad spend.
To learn more about advertising budgets and how to stand out, read our blog post HERE.
Story by: Devyn Lamon