Paid Social Archives | ASK BOSCO®

How to Forecast ROI on Facebook Ads

Claudia Poole — Thu, 16 Mar 2023 10:05:35 +0000

Facebook advertising can be a powerful tool for generating leads, driving traffic, and increasing sales. But with so many variables at play, forecasting ROI (return on investment) can be a challenge. In this blog, we’ll explore some best practices for forecasting ROI on Facebook and share some tips for maximizing your returns.

What is a good ROI on facebook ads?

The short answer is, there is no short answer! The potential return on investment (ROI) for Facebook ads can fluctuate significantly based on numerous factors such as your target audience, ad placement, ad format, budget, and the conversion rate of your website or landing page.

Numerous industry reports and studies suggest that the average ROI for Facebook ads ranges from 2:1 to 5:1, which implies that for every pound/euro/dollar spent on Facebook ads, businesses can anticipate a return of two to five pounds/euros/dollars. It’s important to recognize though that while a higher ROI is always desirable, it may not be realistic to anticipate a high ROI from Facebook ads, particularly if you’re new to the platform or have a limited budget. In these situations, it may be more appropriate to focus on raising brand awareness, increasing followers or directing traffic to your website or landing page, rather than striving for a specific ROI.

Some industries with higher average order values (AOV), such as software and finance, tend to have higher ROIs. On the other hand, industries with lower AOVs, such as retail and e-commerce, tend to have lower ROIs.

Of course, ROI is just one metric to consider when evaluating the success of your Facebook ad campaigns. Other metrics to consider include click-through rate (CTR), cost per click (CPC), conversion rate, and more. It’s also important to consider your overall campaign goals and how your Facebook ads are helping you achieve those goals. For example, if your goal is to generate leads, a high ROI may not be as important as a high conversion rate.

How to forecast ROI on Facebook

Forecasting ROI can be challenging, as there are many variables at play. However, by analyzing past performance and making data-driven predictions, you can get a better sense of what to expect from your campaigns.

Here are some best practices for forecasting ROI on Facebook:

Set clear goals:

Before you start forecasting ROI, it’s important to set clear goals for your campaigns. What do you want to achieve with your Facebook ads? Are you looking to generate leads, drive traffic to your website, or increase sales? By setting clear goals, you can more accurately forecast your ROI and track your progress.

Analyze past performance:

One of the best ways to forecast ROI is to analyze past performance. Look at your past Facebook campaigns and identify patterns and trends. What types of ads performed best? What audiences were most responsive? Use this data to inform your predictions for future campaigns.

Consider your target audience:

Your target audience plays a key role in determining the success of your campaigns. Consider factors like age, gender, location, interests, and behaviors when forecasting ROI. Use Facebook’s targeting tools to reach the right audience for your campaigns.

Estimate conversion rates:

Conversion rates are a key factor in determining ROI. Estimate your conversion rates based on past performance and industry benchmarks. For example, if you’ve historically had a conversion rate of 5% and the industry benchmark is 3%, you may want to use a conservative estimate of 4% when forecasting ROI.

Factor in ad spend:

Your ad spend will also impact your ROI. Consider your budget and how much you’re willing to spend on each campaign. Use Facebook’s ad cost estimator to get an idea of how much you can expect to spend on each ad.

How to Maximize ROI on Facebook

Once you’ve forecasted your ROI, it’s time to start optimizing your campaigns for maximum returns. Here are some tips for maximizing your ROI on Facebook:

Test and iterate:

Testing different ad formats, targeting options, and messaging can help you identify what works best for your audience. Use A/B testing to compare different ads and adjust your campaigns based on the results.

Use retargeting:

Retargeting allows you to reach people who have previously interacted with your brand, increasing the likelihood of conversions. Use Facebook’s retargeting tools to show ads to people who have visited your website, engaged with your social media posts, or interacted with your email campaigns.

Optimize your landing pages:

Your landing pages play a critical role in converting visitors into customers. Make sure your landing pages are optimized for conversions, with clear calls-to-action, easy navigation, and compelling messaging.

Monitor and adjust:

Monitoring your campaigns regularly and making adjustments as needed can help you optimize your ROI. Use Facebook’s reporting tools to track key metrics like click-through rates, conversion rates, and ad spend, and adjust your campaigns based on the data.

The easy way to maximise ROI on Facebook?

All of this of course is time consuming and requires constant reporting and monitoring. But the good news is that there is an easier way to forecast the ROI on your facebook ads by using ASK BOSCO® AI reporting and forecasting platform.

How can ASK BOSCO® forecast ROI on facebook ads?

By leveraging the power of artificial intelligence and machine learning, ASK BOSCO® can forecast your facebook ads with up to 96% accuracy – allowing you to fully optimise your ad spend for the biggest return. By analyzing historical data, ASK BOSCO® AI marketing platform uses predictive analytics to forecast your Facebook ad performance, identify trends and patterns, and make data-driven decisions and predictions about your Facebook ad campaigns. Plus, because ASK BOSCO® enables to you connect and consolidate your data across all channels it means you can easily compare and forecast the ROI on your facebook ads alongside your other advertising channels such as Google, Bing and TikTok as well as other metrics such as click-through rates, conversion rates, and cost-per-click.

Book a quick demo or drop us an email at team@askbosco.io so we can tell you more about how ASK BOSCO® could help you and your business – whether you’re a digital marketing agency, online B2C brand or lead-gen B2B business.

The post How to Forecast ROI on Facebook Ads appeared first on ASK BOSCO®.

How much should I spend on Facebook ads?

Mike Thompson — Wed, 01 Feb 2023 12:02:53 +0000

Facebook ads are an essential aspect of any comprehensive digital marketing strategy. They allow you to reach a large audience with precise targeting, making them a great investment for businesses of all sizes. But with so many options and considerations, it can be tough to know how much you should be spending on Facebook ads. In this blog, we will dive into what you should expect to pay and budget considerations and provide guidelines to help you make informed decisions about your advertising budget.

What is a good budget for Facebook ads?

There is no one-size-fits-all answer to this question as the ideal budget for Facebook ads will depend on several factors, including the size of your business, the nature of your products or services, and the goals you are trying to achieve.

However, a common recommendation for small to medium businesses is to start with a budget of $1 to $5 per day per campaign, ensuring you have different campaigns for different audience types – prospecting and retargeting. Rather than spending all at once, gradually increase it as you gather data and optimize your campaigns.

Keep in mind that you can always adjust your budget as needed and it’s better to start small and scale up, rather than overspend from the outset. It’s also important to consider that your ad spend will likely increase over time as you gain more experience and try to reach a wider audience.

How to work out your Facebook ads budget

So, you’ve decided to start advertising on Facebook. You’ve read several articles online to try and figure out your budget and you’re unsure where to start. There are a few factors to consider when deciding on your budget, here are the steps you can follow to work out your Facebook ads budget:

Determine your advertising goals

Your budget should align with the objectives you want to achieve through Facebook advertising. Are you looking to generate leads, increase brand awareness, drive website traffic, or make sales? Having a clear goal in mind will help you determine how much you should spend on Facebook ads.

Assess your target audience

Who are you trying to reach with your ads? The size of your target audience and the competition for ad space within that audience will impact how much you will need to spend on Facebook ads.

Evaluate your current budget

Consider how much you have available to allocate towards Facebook advertising, and what percentage of your overall marketing budget you’re willing to spend.

Analyze your cost per conversion

This is the cost of each action taken by someone who sees your ad, such as making a purchase or submitting a lead form. You can use this metric to determine how much you need to spend to achieve your advertising goals.

Test and optimize

Start with a small budget and adjust as needed based on your results. Use Facebook’s ad insights to analyze the performance of your ads and optimize for better results.

Scale up

Once you have a successful campaign, you can increase your budget to reach a wider audience or test new targeting strategies.

Remember that these are guidelines, and your actual budget will depend on the specific goals and strategies you have for your Facebook advertising campaign.

How to distribute your Facebook ads budget

Distributing your Facebook ads budget effectively is key to maximizing your return on investment (ROI). Here are some tips on how to distribute your budget effectively:

Test different ad formats

Facebook offers a variety of ad formats, including image ads, video ads, carousel ads, and more. Experiment with different formats to see which ones perform best for your target audience and goals.

Utilize targeting options

Take advantage of Facebook’s advanced targeting options, such as demographics, interests, behaviors, and location, to reach the people who are most likely to engage with your ads.

Spread your budget across multiple campaigns

Rather than putting all your budget into one campaign, create multiple campaigns with different targeting and creative strategies. This will help you reach more people and increase your chances of success. A common targeting split we would recommend here is prospecting (new customer acquisition; targeting your brand’s ideal customer persona but who are unaware of the brand) vs. retargeting (people who have visited your website before, engaged with your Facebook / Instagram page or have purchased from you in the past).

Allocate budget for retargeting

Retargeting is a powerful tool for reaching people who have already shown an interest in your products or services. Allocate a portion of your budget for retargeting campaigns to maximize the chances of converting these interested users.

Set a budget for A/B testing

Regularly testing and optimizing your campaigns is essential to improving performance and achieving your goals. Allocate a portion of your budget for A/B testing to try new strategies and identify the best-performing campaigns.

Remember, Facebook advertising is a dynamic process and your budget may need to be adjusted over time based on results and changes in your business goals. The most important thing is to continually evaluate and refine your advertising strategies to maximize the ROI of your Facebook ads budget.

How much should I spend a month on Facebook ads?

The amount you should spend on Facebook ads per month will depend on several factors, including your advertising goals, target audience, and overall marketing budget. A common recommendation for small to medium businesses is to allocate anywhere from 10-30% of their marketing budget to Facebook advertising, which can equate to several hundred to several thousand dollars per month.

Keep in mind that as with any advertising strategy, you can always start small and adjust your budget as needed based on your results. It’s better to start with a lower budget and scale up as you gain more insights and experience with Facebook advertising.

It’s also important to remember that Facebook advertising is a continuous process, and your monthly spend may need to be adjusted based on changes in your business goals, target audience, and advertising results. The key is to continually evaluate and refine your advertising strategies to achieve the best ROI from your Facebook ads budget.

Determining the right budget for Facebook advertising is an important step in achieving your advertising goals and maximizing your ROI. By considering your target audience, advertising objectives, and overall marketing budget, you can develop a budget that meets your needs and helps you achieve your desired results.

If you need additional support or guidance on Facebook advertising, get in touch with the BOSCO™ team by sending us an email to team@askbosco.io

If you’d like to save tonnes of time and have a holistic view of your digital marketing performance, including Facebook ads, book a 15-minute demo.

The post How much should I spend on Facebook ads? appeared first on ASK BOSCO®.

Twitter confirms blue tick fee: Would you pay to be verified?

Matthew Fraser — Wed, 09 Nov 2022 11:20:10 +0000

Social media platform Twitter has confirmed that they will allow users to purchase blue tick verification.

In an Apple iOS update, the company said the new blue tik feature would be open to users in certain countries who sign up to its Twitter Blue service for $7.99 (£7) per month.

This follows Twitter’s recent takeover by Elon Musk, who bought the company last month for a $44bn (£39bn) deal.

Previously, the blue verified badge on Twitter let users know that an account of public interest is authentic. This includes celebrities, government figures, journalists, and major brands.

These changes would affect around 400k blue tick accounts on Twitter. Advertising, which would be reduced for Twitter Blue subscribers under the plans, accounts for 90% of Twitter’s $5 billion in annual revenue.

Elon Musk tweeted that the new subscription would include priority in replies, mentions and search results, as well as fewer ads, the ability to share longer video and audio posts, and a way to read articles behind a paywall for free.

His justification for the subscription was around “paying the bills” as well as “defeating bots and trolls”. However, even with the introduction of this new paid service, there are already concerns about users paying for the blue tick feature and creating fake accounts and impersonations of public interest figures.

Additionally, this update could have serious implications for everything from misinformation to elections.

If you’d like more information on this update, or if your business uses Twitter for advertising and are worried about the repercussions, get in touch with our team on team@askbosco.io and we’d be more than happy to help.

If you’d like to save tonnes of reporting time and connect Twitter to your dashboard, alongside all your existing marketing data, book a 15-minute demo with one of the BOSCO™ Team.

The post Twitter confirms blue tick fee: Would you pay to be verified? appeared first on ASK BOSCO®.

How to optimise your paid social campaigns

Kylie Moody — Thu, 07 Apr 2022 11:28:51 +0000

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Social media marketing has become one of the pillars of most digital marketing strategies today. A comprehensive social strategy will consist of paid and organic social, however, we want to delve into the fundamentals of optimising your paid social media campaigns. Quite simply, paid social is paying to display sponsored content that targets specific audience groups on third-party social media platforms such as Facebook and Instagram.

When setting up your paid social campaign, you will need to allocate your budget across the varying social channels. As an industry average, Facebook has the highest social media ad spend of all social media channels, however different social channels are better suited to different styles of ad campaign or audience segmentation.

So, once you have the foundations of your paid social campaign set up, you may be left wondering, how can I make paid social work for me? Here is our guide on how to successfully optimise your paid social campaigns.

Establish your target audience

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Marketers have the option to choose their target audiences on social channels such as Facebook based on age, demographic, location etc. Therefore, when you are creating your paid social campaign, you need to establish exactly who your target audience is to understand who you should be targeting. As a digital marketer, take advantage of the social targeting tools as your adverts will appear in front of the correct audiences, increasing your chance of conversions.

Produce several creative ad copies

Writing ad copy can be challenging, however, if you want to learn from your social campaigns and see which your target audience prefer and convert with, it’s important multiple variations, and allow the social algorithms to do their job. The varieties between the copies can be something as simple as a different CTA targeted at your different ad groups or a change in tone.

Cover your audience’s pain points

It may seem obvious that the idea of paid social is to sell your products. However, you should look at it from another angle. You want to sell benefits, not the product. You can do this by covering your audience’s pain points in the advert and explaining to them how by buying your product, they will experience the benefits that counteract their pain points.

[/fusion_text][fusion_title title_type=”text” rotation_effect=”bounceIn” display_time=”1200″ highlight_effect=”circle” loop_animation=”off” highlight_width=”9″ highlight_top_margin=”0″ before_text=”” rotation_text=”” highlight_text=”” after_text=”” content_align_medium=”” content_align_small=”” content_align=”left” size=”3″ font_size=”” animated_font_size=”” line_height=”” letter_spacing=”” text_shadow=”no” text_shadow_blur=”0″ text_shadow_color=”” dimensions_medium=”” dimensions_small=”” text_color=”” animated_text_color=”” highlight_color=”” style_type=”default” sep_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” fusion_font_variant_title_font=””]Clear, concise – and straight to the point[/fusion_title][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” font_size=”” line_height=”” letter_spacing=”” text_color=”” content_alignment_medium=”” content_alignment_small=”” content_alignment=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=””]Keep the messaging on your adverts clear, concise, and straight to the point. Avoid large blocks of wording on the advert, you can put that on the landing page that you can direct your consumer to.

Similarly, using emojis in your messaging can be quite successful. However, you will want to choose wisely which ones you use. Avoid using angry-looking emojis or ones that could be deemed as inappropriate – no aubergines![/fusion_text][fusion_title title_type=”text” rotation_effect=”bounceIn” display_time=”1200″ highlight_effect=”circle” loop_animation=”off” highlight_width=”9″ highlight_top_margin=”0″ before_text=”” rotation_text=”” highlight_text=”” after_text=”” content_align_medium=”” content_align_small=”” content_align=”left” size=”3″ font_size=”” animated_font_size=”” line_height=”” letter_spacing=”” text_shadow=”no” text_shadow_blur=”0″ text_shadow_color=”” dimensions_medium=”” dimensions_small=”” text_color=”” animated_text_color=”” highlight_color=”” style_type=”default” sep_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” fusion_font_variant_title_font=””]Make sure to include a CTA[/fusion_title][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” font_size=”” line_height=”” letter_spacing=”” text_color=”” content_alignment_medium=”” content_alignment_small=”” content_alignment=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=””]More times than we care to admit, we see ad copies that have not included a CTA which directs the consumer on what to do next.

Although it may seem obvious to you as the marketer that your advert is there to serve a specific purpose such as a ‘click the link’, it isn’t obvious to your consumer and can have a negative impact on the success of your ad campaign. Including a CTA that lines up with your campaign goals will increase your click-through rate and overall success of the ad.[/fusion_text][fusion_title title_type=”text” rotation_effect=”bounceIn” display_time=”1200″ highlight_effect=”circle” loop_animation=”off” highlight_width=”9″ highlight_top_margin=”0″ before_text=”” rotation_text=”” highlight_text=”” after_text=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” content_align_medium=”” content_align_small=”” content_align=”left” size=”2″ font_size=”” animated_font_size=”” fusion_font_family_title_font=”” fusion_font_variant_title_font=”” line_height=”” letter_spacing=”” text_shadow=”no” text_shadow_vertical=”” text_shadow_horizontal=”” text_shadow_blur=”0″ text_shadow_color=”” margin_top_medium=”” margin_bottom_medium=”” margin_top_small=”” margin_bottom_small=”” margin_top=”” margin_bottom=”” margin_top_mobile=”” margin_bottom_mobile=”” text_color=”” animated_text_color=”” highlight_color=”” style_type=”default” sep_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]

Keep your creative regularly updated

Social trends and social consumer interests change quicker than any other marketing platform, so it’s vital you keep your creative updated and fresh. Good practice is to create a calendar of creative rotation, where you can store a stock of imagery, headlines, and captions to quickly and easily build a new creative.

[/fusion_text][fusion_title title_type=”text” rotation_effect=”bounceIn” display_time=”1200″ highlight_effect=”circle” loop_animation=”off” highlight_width=”9″ highlight_top_margin=”0″ before_text=”” rotation_text=”” highlight_text=”” after_text=”” content_align_medium=”” content_align_small=”” content_align=”left” size=”3″ font_size=”” animated_font_size=”” line_height=”” letter_spacing=”” text_shadow=”no” text_shadow_blur=”0″ text_shadow_color=”” dimensions_medium=”” dimensions_small=”” text_color=”” animated_text_color=”” highlight_color=”” style_type=”default” sep_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” fusion_font_variant_title_font=””]Make an impression[/fusion_title][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” content_alignment_medium=”” content_alignment_small=”” content_alignment=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” font_size=”” fusion_font_family_text_font=”” fusion_font_variant_text_font=”” line_height=”” letter_spacing=”” text_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]

You have approximately 3 seconds to attract the attention of a user on social media, so make sure that your advert is gripping and gets a strong message across quickly.

[/fusion_text][fusion_title title_type=”text” rotation_effect=”bounceIn” display_time=”1200″ highlight_effect=”circle” loop_animation=”off” highlight_width=”9″ highlight_top_margin=”0″ before_text=”” rotation_text=”” highlight_text=”” after_text=”” content_align_medium=”” content_align_small=”” content_align=”left” size=”3″ font_size=”” animated_font_size=”” line_height=”” letter_spacing=”” text_shadow=”no” text_shadow_blur=”0″ text_shadow_color=”” dimensions_medium=”” dimensions_small=”” text_color=”” animated_text_color=”” highlight_color=”” style_type=”default” sep_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” fusion_font_variant_title_font=””]Get your imagery right[/fusion_title][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” content_alignment_medium=”” content_alignment_small=”” content_alignment=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” font_size=”” fusion_font_family_text_font=”” fusion_font_variant_text_font=”” line_height=”” letter_spacing=”” text_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]

Imagery in your adverts is highly important, but they need to be engaging. Imagery with people rather than objects has proven to be more successful as people buy from people and you will build more relational trust with the consumer.

Following within imagery is your colour scheme. The colour yellow is one of the most successful colours to use in a social ad campaign for two reasons. One is that it is a happy, inviting, eye-catching colour. Reason two is that it is the opposite of blue on the colour wheel, making it stand out from Facebook’s colour scheme more vividly. You should avoid using large blocks of blue by this theory as it blends in too much with the social platform.

Promote. Your. Content.

One of the best tools available at your disposal is the Facebook lead gen ad type. This tool is highly effective and will aid your conversion rates for content downloads. However, you want to ensure that the content you are producing is relevant to your target audience, as wasting budget to reach an audience that isn’t interested in your products is a waste of time and marketing efforts.

Analyse your data

You want to make sure you are analysing the data correctly and generating a report to assess what is working and what isn’t, which can then be used to implement your future paid social strategies. Make sure you track all of your conversion data from across your campaigns to ensure you have all the ROI data, which will provide more accurate insights for your future strategies.

Expand your lookalike audiences

Social channels such as Facebook and Instagram have tools that generate a lookalike audience of users who have similar interests and attributes to your best customers. These consumer sets can be extremely useful when it comes to expanding your audiences and increasing your conversions for ROI.

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Keep an eye on the top of the funnel metrics to make sure you’re getting the best ROI, and if your CPC is too high, then your target audience isn’t optimised correctly and will need adjusting.

You also need to think about the nature of your products. An everyday product will have a greater chance of quick conversions on a paid social ad. A luxury product or service may need some more persuasion to purchase, so you may want to factor in a stack of retargeting ads. Average consumer spend will give an indication of how much of your marketing budget you want to put into your paid social ads.

For more best practice advice and guidance on how to set up paid social ads or for support on your latest campaigns, get in touch with the BOSCO™ team by sending us an email to team@askbosco.io

If you’d like to save tonnes of time and have a clear view of digital marketing performance, book a 15-minute demo.

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Paid social vs. organic social

Kylie Moody — Wed, 03 Nov 2021 11:30:24 +0000

There is no doubt that social media has had an exponential rise over the past few years and can be a useful tool when wanting to expand reach and engagement for businesses.

Instagram is currently one of the most used social media platforms to date, with over 1 billion monthly users. Establishing how best to target audiences to achieve pre-set marketing goals can maximise companies marketing revenue. In this guide, we explains the difference between paid social and organic social, their benefits and how they can work in tandem in your marketing strategy.

Differences between paid and organic social

Paid advertising on social media is pre-paid sponsored posts to reach your target audiences, at the right time. These posts will appear within the newsfeeds of new and existing consumers. Target audiences can be pinpointed by demographic, location or interests to expand reach and awareness.

Organic social is any form of advertising that doesn’t involve a paid promotion. However, engagement is a key element, as the higher the engagement on a post, the more likely the post is to be circulated rapidly and widely online.

The benefits of paid social

There are many benefits of paid social. Brands can obtain high levels of reach and awareness through investing in paid search, and it can act as a driver for brand recognition if content is regularly appearing on users’ newsfeeds.

Content can be specifically targeted to the relevant target audiences with the use of interest-based promotion, which can be a useful tool in targeting protentional customers who have a pre-existing interest in similar products but may not have heard of the brand in question.

Paid social can also be considered as cost effective, as it works on a pay-per-click basis. How the fee structure works, is that when consumer clicks on an ad, the company will pay a small fee to the social channel, which avoids large upfront fees and keeps costs down.

Paid social also offers measurable success. Most social media platforms will give feedback on impressions, conversion rates, engagement levels and reach for measuring return on investment.

Another large benefit of paid social, is being able to target impulse buyers quickly and easily. Many consumers will see gripping adverts amongst their stories and newsfeeds and be influenced into making direct purchases without much research into the brand.

Benefits of organic social

One of the biggest benefits to organic social is that it is free to use. Organic followings are followers that a company has gathered through organic posts that naturally happens over time.

As organic social followings are ones that are grown and nurtured by the brand themselves, there is a wide opportunity to build a strong relationship and reputation with their customers.

Organic social channels are also beneficial when it comes to building communities with like-minded people, and can quickly become places where customers can share their thoughts and understand the core values of the brand. Companies can use social channels to tell the brand story, and within that form trust through being transparent and listening to the opinions of their consumers.

Hybrid paid and organic social strategy

Both organic social and paid social are important for companies to remain visible in today’s digital market. Despite organic social being free to use, it is difficult to stand out from the noise of competitors.

One study indicated that only organic posts only reach 2% of followers, which declines as more companies invest in paid social. However organic social does provide a fantastic opportunity to connect with loyal followers and an expand a network through posts being shared on.

Marketers in charge of social channels must find a fine balance between promotional product posts and other interesting content to ensure followers remain engaged, however the better the content, the higher the likelihood of developing a wider network.

Paid social is a useful way of reaching new target audiences and developing a customer base, however as it is billable, companies will not want to waste money on campaigns that will not be successful.

The most effective way of ensuring a campaign will gain many impressions, is to do practice runs with organic followings. Companies can utilise their organic social channels to gauge what consumers are really interested in. The likelihood of a wider catchment of consumers engaging well with content that organic followers engaged well with is high, and can act as a practice run for paid social media campaigns.

How paid search differs from paid social

It is important to understand how paid social differs from paid search. Paid search is similar to paid social in terms of paying for an advertising service, however paid search appears on users’ screens on platforms such as Google or Amazon based off the viewers search history as oppose to appearing in newsfeeds on social channels.

There are many benefits of paid search including; high intent, targeted audience and the speed at which the adverts can appear on the user’s screen after a keyword search. However, weaknesses include lots of advert options meaning your advert could appear next to a competitor, limited options with the type of ad (text only or picture format) and targeting people at the later stage of the marketing funnel.

When it comes to deciding which paid advertising method is best for businesses, it is important to take all benefits and disadvantages listed above into consideration and remember that what works for one business might not be the same for another, but it’s never too late to adopt another strategy if the current one isn’t working.

BOSCO™’s unparalleled forecasting capabilities can help you make better, data-driven decisions with your media budgets. Our easy-to-use interface provides a single source of truth, enabling you to track and implement for optimal performance across all your marketing channels. Book a demo to find out more.

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