Social Media Once a Lane – Now a Freeway!!
ROI and advertising tend to go hand in hand and neither can be complete without the other because they need each other to grow and become more diverse in nature. Social media, in today’s world, has transcended from being merely a bridge to becoming an expressway, and can be used to generate ROI if used effectively and for beneficial factors. There exists a cut-throat competition amongst the giants in social media and this is not just for supremacy – it is also for ROI standings. The key factor is making sure one is being innovative while catering to their business partners, while simultaneously being able to please their millions of users.
- 2012 – Facebook introduced the idea of Promoted posts for the use of many brands. This was a unique concept where when businesses paid for the promotion of a particular post, it was displayed more often on news feeds. To have a better insight on this story you can read more in this article.
- 2013 – Facebook introduced yet another innovative strategy to help with their advertising goals – video ads. Like promoted posts, these too were sponsored and once that was done, these ads would of their own accord on news feeds, while still silent.
- 2014 – Facebook brought about another strong feature to cater to advertisers who wanted better direct responses from social networks. This made the idea of Custom audience a very effective and powerful one. To have a detailed understanding you can refer more about it here.
- Another manner in which advertising has seeped into social media can be found in the example of Front gate tickets. They handle tickets and promotions for well-known and large scale musical events in the United States. Front Gate Tickets added the Facebook login page in their consumer response process. This allowed customers to check whether their friends were going to attend the same event. This allowed Front Gate Tickets to use ads on Facebook to bring up events to the notice of people. To understand the concept better, read more here.
In 2010, the social media website started Promoted Trends, Promoted Tweets and Promoted Accounts. In 2013, they introduced a concept called tailored audiences which was aimed at allowing better returns for the advertisers. This allowed the advertiser to reach out to their users who used Twitter as well. This idea received less flak that Facebook’s advertising strategy, because the ads on Twitter are less prominent. According to Forbes, they also take up significantly lesser space on the home page. To have a closer look you can refer detailed information in this article.
These are just few of the examples of how ROI and advertising go hand in hand. This is just the beginning. What is in store in social media users remains to be seen.