Social media advertising spend in 2017 will exceed $35 billion. With more businesses advertising on social media now more than ever before, SMBs that still aren’t including social media advertising in their marketing plans are losing out to their competitors.
Unless you’re a digital advertising pro it’s probably easy for you to get overwhelmed by all of the terminology/jargon used as if it was gibberish from a baby’s mouth. We know it isn’t simple and we hope to guide you through this problem in the easiest way possible.
One of the most common terms thrown around is CPC, but what is CPC and what do you do with it?
Cost Per Click (CPC) is a type of digital ad where you only pay for the clicks you receive as part of a pay per click (PPC) campaign. It is a one to one correlation, if they click you simply pay for it. How much money it costs is something we will get into in a later blog. Some people find these campaigns to be a safer bet when first starting out in social media advertising. What you see is what you get, you at least know that the money you’re paying is going toward people actually visiting your page/site, rather than an impression based campaign where you can’t track how many people you’re reaching. What you do when they get to you is very important as well, but we will leave that for another day.
Campaigns usually have a daily CPC budget and when it gets maxed out for the day the ads get taken out of rotation on the site or platform to ensure that you aren’t exceeding your daily limit. This is a good way to mitigate most risk and be there to service these potential new customers.
The average cost of CPC campaigns on Facebook have gone down by 16 percent year over year since Q2 2014 making it easier for businesses of all sizes to advertise on the platform. There are currently over 50mm small businesses on Facebook and only 3mm of them are using it to advertise, that number is up by over a million since last year. So although prices have dropped, popularity clearly hasn’t.
By June of 2014, nearly 80 percent of U.S. marketers were using promoted tweets. And in 2015 Instagram was expected to bring in $595 million in mobile ad revenue.
If you are using a DIY platform or dashboard you need to make sure proper targeting and optimization methods are being implemented so that your ads are reaching people who are most likely to be potential customers…or you can have a RoboAgency do all of the work for you while you take care of the rest of your business, doing what you love to do and are great at!
Play around with your daily budgets when you can, track your results, and most of all try to have fun with it!
It is always nice to know what you are getting for exactly how much! This is a key metric we track for you removing all the other noise.