There is no denying that social media is a great way to present your business and engage with your audience. There are many reasons why businesses are keen to set up a social media account or accounts, and the fact that it is free to do so. It doesn’t cost a penny to create and run a social media account, and you can see why companies find this appealing.
However, the advertising features on social media platforms like Twitter and Facebook may be the difference between success or failure in finding, developing, engaging and persuading your audience. If you want to keep social media as a free activity, you can, but it may be that you are missing out on success by taking this plan of action.
Through my work at Agent Media UK, I am delighted to say that we have helped many businesses, in all manner of industries, understand the importance of social media advertising and why it is important for them, and this is definitely of interest for estate agents.
Here are some of the key reasons why advertising spend on social media is vital.
Your audience is on social media and this spend helps you reach them
The reason you want to have social media accounts is down to the fact that your audience is on social media. While there are many statistics regarding social media usage, anecdotal evidence gives you all the proof to know that people use social media every day. The next time you are in public, stop and look around you, and you’ll see people glued to their smartphone. There is a very strong chance that a lot of these people are on social media, so you want to have a social media presence to reach these people.
You can build and engage a following organically but if you want to shortcut the steps, save time and get a quick impact, advertising spend allows you to reach the right people at the right time. Every social media advertising campaign can be tailored to reach the exact people you want to reach. You can select from a wide range of demographics and you can even reach people by their hobbies and interests, and this is why social media advertising spend is important; because it helps you connect to the people you want to reach.
Many specialists believe this form of advertising is a low cost option
While the notion of low cost depends on your own viewpoint and circumstances, various reports and studies show that business professionals see social media advertising as a low cost option. In late 2016, Hootsuite updated an article regarding social media advertising and it highlighted a survey of 200 Business To Business (B2B) marketers with more than 50% of respondents classing social media advertising as a “very low cost” or “somewhat low cost” expenditure. By comparison, 42.5% of people said the same for search ads while 41.7% of respondents said this for display ads.
Advertising spend on social media provides a great return
While the cost of social media advertising can be low (and you are in full control so you can set your own daily or total budget, so you will never overspend if you don’t want to), there is still a need to get a positive return on your investment. If something is cheap but doesn’t provide you with any return, it is a poor investment, regardless of its cost. You should have your own aims and goals for a social media advertising campaign, and these are the figures you should look at when determining your return.
However, with companies in all sectors and locations achieving success and coming back for more, it is clear that social media advertising is a great tool to have at your disposal.
There are great analytics for social media advertising campaigns
No matter what campaign you are running, you want to make sure that you can judge its merits. You need to know if you are achieving success or if you need to make changes to a campaign and this means you need to get analytical. Thankfully with social media advertising, you receive great back-end assistance, so you can review the performance of each campaign and by tweaking your ads, you can judge the success or failure of each step, helping you to find the best possible advert for your needs.
The affordable nature of social media advertising, means that spending money on social media advertising is vital for your estate agency.
Promoting an online valuation tool has seen some great results with our estate agency client’s.
Want to know how you can create more valuations from social media advertising?
Contact the social media team at Agent Media UK.
Thanks for reading.
The social media team
Agent Media UK