Marketing: Social Media and Online Advertising – Recommendation? – Starting your own business Part 15
The digital possibilities of the World Wide Web 2.0 we summarize for the sake of simplicity as “Internet”. Advertising on the Internet is felt every day more diverse, large, powerful. Only 10 years ago search engine optimization was the new trend (of course until today). Then there were options like Facebook Ads, everyone was on YouTube, and of course Instagram. Suddenly networks can be differentiated into different target groups and within the social networks again and more specific target groups can be defined. Then there are methods such as backlinks but also the previously mentioned newsletter marketing and even more special newsletter funnel marketing.
Recommendation marketing on the internet
The Internet is a real Eldorado, whose possibilities take with each passing day. Every day, the Internet is called several 100,000 new people get. Although over 3 billion people are already online, over half of the world’s population is not yet online. The growth opportunities are all too gigantic. Of course not in the industrialised countries, but in the emerging and developing countries. For example, if you are internationally active, you can immediately start an international business through digital channels. Translation? One mouse click and 3 seconds calculation time. The World Wide Web and its possibilities are still in their infancy.
Rating portals and comparison portals
Recommendation marketing is one of the most effective tools for convincing potential prospective customers and then switching to the customer. The recommendation of another person is of great value to us. Even if we don’t even know the person. And yes, even if this person isn’t real at all – but that’s another topic (social bots). This is why evaluation portals and comparison portals are currently so trendy. The prefiltered opinion makes life easier for us in many situations. We trust the restaurant critic for new culinary tips, we trust the fashion blogger for outfits. But not only bloggers and influencers are important contacts for you as opinion leaders, also experts (less reach but high reputation) and online magazines.
Welcome to digital marketing, where the magic happens!
TCP and interaction
The advantage of advertising on Facebook is the targeted addressing of people. Marketing messages are no longer just scattered, they are sent in a targeted manner. Just think of a classic advertising poster, thousands of people pass by every day. However, they come from different social backgrounds, have different interests, do not necessarily live in the same place, are male or female, old or young. It is never possible to determine exactly what effectiveness a single advertising poster, in a single place, had or will have on the individual person. Such effects of traditional advertising can only be captured in large quantities. It is quite different with advertisements on the Social Web. Here we can determine exactly who should see our ads, which greatly increases the effectiveness of the ads. We can also determine whether ads are displayed on mobile devices only or on the desktop. This not only increases the effectiveness but also the range in relation to the given budget.
Success measurement with CPC and TKP
A social media manager measures success at the CPC, among other things. CPC means nothing more than costs per click. The lower the cost of purchasing a click, the more successful they will convert, we assume a common target audience.
TKP means as described, thousand contact price. He answers the question of how much money has to be invested for one thousand people to see the ad (Impressions). If you now go on a very simple campaign, then the thousand contact price in social media marketing is only 20% compared to the classic CPM in a print magazine or in a daily newspaper.
This means that five times more efficiency can be achieved from the same budget.
Switch advertising on Facebook
First a superordinate campaign is created and named, for example “50% Sale”, then the ad groups with their respective target groups. As you can see, so far we have mainly taken care of the structure and structure of the advertising campaign. Now it’s time to look and design. Once you have created the ad group, you can place various individual ads in it. These single ads then contain e.g. different pictures or videos or even a whole photo slideshow. Each individual graphic gets an individual display. This makes it possible to separate the results obtained from each other precisely at a later stage. Of course the texts can vary, too, do you use emoticons or maybe not? All these possible sales-influencing variables are now played through in the individual ads. Thus one has 10 or 15 different single displays in the single display group fast.
If you now duplicate the ad groups, hundreds of individual ads are quickly created, which of course have to be managed and monitored afterwards. The subsequent monitoring and evaluation or analysis of the individual campaigns on Facebook is of course the decisive factor. That’s why it’s so important to let the individual ad groups run against each other, as well as the individual ads, graphics and texts.
Split test – campaign and analyses
Social media agencies use a split test or an A/B test to see how successful the individual ads are. In short: Which display converts best? The measurement is done by our CPC, as a reminder: costs per click. If, for example, you want to enter the German market, you naturally have a high level of competition and many competitors competing for users on social networks, especially Facebook. This can also mean that although you provide a few thousand euros of budget, in the first few days only a few euros are spent or played from Facebook. The low expenditure of the advertising budget is due to the fact that the competition in this country is high and many companies book advertising space in social networks (but also search engines). When new ad groups are added or new campaigns are launched, they must always first compete with existing ones that have already been booked. No matter how, in the end it’s all about buying clicks as cheaply as possible. If your own online shop has only twenty unique visitors a day, but you generate one hundred new visitors through advertisements on the Internet, whether Facebook or Google, then sales will immediately multiply.
Guideline: Setting up your own business & business plan
You want to start your own business as a real estate agent or with another business idea? We support you with tips on your business plan and concept. Whether self-employed full-time or part-time self-employed: If you want to set up your own company, you have to think about a lot, in advance and in the operative business. From the right idea to health insurance – what needs to be considered if you want to become self-employed?
There is no training or further education for entrepreneurs. Managing director is you or not. Your own ambition is always important, because this is the only way to improve, every day.
The topics at a glance: