August 7, 2015 Jennifer Wales
Modern day marketing can be better understood by the film Hunger Games but without all the physical violence. Today, every business is competing for their product to have an advantageous advertising placement, where their product can be viewed and liked by hopefully everyone. This has led many marketing campaigns to placing their advertisements on Facebook. Since 2004, when Facebook officially launched, social media has only continued to be the best place to market a product to those who cannot be reached by TV and print ads alone.
Today, many businesses are struggling to reach their audience, as TV and print campaigns are not able to reach all types of audiences. Facebook alone allows businesses to reach 13.4% of 18-24 year olds. This is mostly due to that fact that social media allows people to connect with their friends and discover new things they may have not been exposed to. Social media has become a way for millennials like myself, to filter information that is deemed irrelevant, while still allowing me to be updated on news and products that relate to my social circle and me.
The millennial demographic is one of the hardest, most unreachable groups as they can filter who and what comes to them through the touch of a finger, which means they often won’t see anything outside of what they, their friends or family like. Thus as a marketer it is important that you utilize social media platforms in order to get your product heard and seen. With social media’s sharing tool, friends can share with the public or like-minded thinkers, which means visibility and awareness increases as those ads reach 26% more people.
When businesses utilize cross platform campaigns they reach 15.5% or almost 27% of people. According to Kinetic Social, video share of Facebook advertisements accounted for almost 27% of advertiser budget in the second quarter of 2015 – up nearly double from their spending from the fourth quarter of 2014. It was estimated that in April 2015 Facebook advertising worldwide would jump nearly 35% this year to reach $15.50 billion! At the same time Facebook’s mobile advertisements are predicted to hit $11.01 billion!
Here are some more reasons why you should be marketing on social media: