How Paid Social Advertising Can Help Your Business Reach Its Goals in 2023: A Comprehensive Guide
META: Learn everything you need to know about paid social media advertising and how it can help your business achieve its goals in the coming year.
As we move into 2023, businesses will need to rely increasingly on paid social advertising to reach their target audiences.
This is due to several factors, including the continued rise of social media usage, the shift to mobile devices, and the abundance of data that’s available to marketers.
However, as a business or marketer yourself, it’s important to understand the importance of such a strategy. With clarity, you’ll have the understanding necessary to use the opportunity to its full potential.
That’s what this guide is all about. I’ll discuss the trends driving this change, the benefits of paid social advertising, and how your business can get started. By the end, you’ll clearly understand why paid social should be a key part of your marketing strategy in 2023.
Let’s get started!
An Introduction to Paid Social Advertising & its Benefits
Paid social advertising is an advertisement you pay for that appears on social media platforms. If you scroll through Instagram, YouTube, Facebook, etc., any post with an ‘ad’ tag has been paid to put there.
See the promoted tag here?
The traffic you receive through these ads is the opposite of organic traffic, which is where new potential customers find you through the content you put out for free.
If you’re a business in 2023, it’s time to get with the program and leverage paid social advertising.
With 2022 being the year of digital transformation for many companies and the increasing importance of online marketing, harnessing the benefits beyond organic potential is an absolute must.
Paid social advertising is an incredibly powerful tool to reach targeted customers and accurately track performance at a fraction of the cost of the traditional display and advertising campaigns.
The greatest benefit?
This form of marketing also enables you to target highly personalized audiences, whether that’s remarketing previous visitors or pinpointing prospects within your buyer persona and offering them relevant incentivized ads.
You can quite literally choose the kind of people you want to show the ad to, what demographics you’re interested in, and the quantities of people you want to pay for.
Bottom line – when used strategically, paid social can be a profitable addition to your marketing funnel.
The different types of paid social ads you can use
The world of paid social advertising is an ever-evolving landscape filled with many different types of ads.
From still image posts to video content and carousel ads to stories, businesses have multiple options for getting their message across in a creative and effective way.
Some of the most popular social media ads include sponsored posts, native content, influencer outreach, and retargeting campaigns.
Knowing which type of ad will be best for your business’s goals and objectives can result in more effective use of your budget—plus better ROI.
However, the real trick here is to be as creative as possible.
The more you can think outside the box with the kind of content you create, the more chance you have of standing out. However, remember to be on-brand, and you don’t need to reinvent the wheel.
I like this one personally.
DollarShaveClub.com – Our Blades Are F***ing Great
Take what works, put your own unique twist on it, and see what happens.
What are the trends in paid social advertising for 2023?
Paid social advertising has come a long way in the past few years, and it’s set to become even more important for businesses in 2023.
We can expect a surge in paid social ads on platforms like Facebook, Instagram, YouTube, Twitter, LinkedIn, Pinterest, Tik Tok, Snapchat, and more.
With the rise of machine learning and AI, these ads are deemed to become even more effective than ever due to deep learning algorithms that make it easier for companies to target special segments of their customer base.
Additionally, it’s becoming easier than ever before to begin paid campaigns – you don’t need a huge marketing team or budget to start leveraging this powerful tool!
In terms of the content itself, it’s widely agreed that short-form video content will still reign supreme as this highly engaging content is still watched millions of hours every day.
Statistics are also clear on this, as 73% of customers prefer to watch short-form content to learn about a product or service, and over 47% of marketers agree that short-form videos have more potential to go viral.
Even the rise of TikTok itself, which grew to over a billion users in just under six years, proves that these social media platforms are showing no signs of slowing down.
If you can figure out how to make the most of these trends, you’re unlocking the potential for your business to soar.
Paid social advertising should undoubtedly be part of any business strategy moving forward into 2023- so if you haven’t done so already, now is the time to jump in and explore the amazing potential of paid social!
How to get started with paid social advertising
Okay, so using paid social media advertising to reach your business goals this year.
How do you do it? I’ll break it down.
Step #1 – Define your goals
You can’t aim for a goal if you’re not clear on what they are. Before you even think about creating an ad, think about what you’re trying to achieve and what sort of approach you want to take.
- Are you trying to sell a product or service?
- Are you trying to increase awareness of your brand?
- Are you building up your following?
- Are you building your brand image?
Before launching a paid social ad campaign, determine accurate objectives – what should potential customers take away from your message?
Step #2 – Define your audience
With your message in mind, it’s time to start thinking about your target audience. And I mean really narrow in and be as specific as you can with the type of people who’ll be interested in what you’re offering.
Some demographic data to consider include;
- Age
- Gender
- Geographical location
- Income range
- Hobbies and passions
- Platforms used daily
- Exercise habits
- Movie preferences
It can be anything.
At the end of the day, you’ll market to a 21-year-old male far differently than you would a 31-year-old mother. Even though you could sell the same product to both.
Define your target audience and use this information to make informed business decisions regarding your ads’ imagery, language, and style of content.
Step #3 – Create and launch your ad
Quite simply, create high-quality ad content and put it out there to the world. Using the ad tools of your preferred platforms, you can input all your demographic data and really hyper-focus on who you’re targeting.
To get started, here’s a list of official guides for each social media platform;
Step #4 – Invest in Analytics
This is the key to success when using paid social ads here in 2023.
Using analytic tools allows you to gain insights into user engagement and track the success of any campaigns you launch. If you don’t, you can’t see which ads do well and which don’t, so you won’t know how to improve moving forward.
Using your metrics to find what works and double down on it. This is how your business will thrive!
Wrapping up – the importance of paid social advertising for businesses in 2023
As we wrap up our blog post about the importance of paid social advertising for businesses in 2023, it’s important to consider the growing trends that are making this type of advertising more and more vital over time.
With platforms like Facebook, Twitter, Instagram, Snapchat, and LinkedIn offering proven returns on investment, these ads can reach a wide audience while targeting far-reaching demographics.
Not only will paid ads offer exposure to the right people you choose, but they also help build relationships between companies and customers while increasing engagement opportunities.
Starting out with this form of marketing is easier now than ever before; many platforms have simple tools that allow users to get started quickly and effectively.
So what are you waiting for? It’s time to get busy with paid media advertising.