Social media advertising statistics have been a powerful marketing tool for businesses when reaching new audiences online and increasing sales and conversions.
In this article, we’ll take you through how to utilise social media advertising statistics to inform your digital marketing strategy.
Why Use Social Media Advertising Statistics?
When it comes to developing a digital marketing strategy, businesses can utilise social media advertising statistics to develop an understanding of ad performance and conversions. The main benefits of using social media advertising statistics include:
- Understanding consumer behaviour.
- Determining the best way to allocate budgets.
- Identifying opportunities to improve user engagement.
By utilising social media advertising statistics, business owners can have confidence in their digital marketing campaigns and recognise the benefits of paid advertising.
1. Social Media Advertising Statistics: Understanding Consumer Behaviour
Running paid social media advertising is a great opportunity for businesses to develop an understanding of consumer behaviour. When setting up your social media ad on Facebook, review the number of accounts reached against the number of ad clicks. So, why is this important for social media advertising statistics? Facebook will give you an estimated figure in terms of how many accounts it will reach and how many of these users will click on the action button.
Make a note of these estimations and review this against the number of accounts your social media ad reached as well as the number of users who clicked on your ad. When you allocate a budget for a social media ad on Facebook and Instagram, you’re paying to increase the visibility of your business. However, the content and creativity of your advert will determine whether a user interacts with your business.
When utilising social media advertising statistics to understand consumer behaviour, ask yourself the following questions:
- What is the demographic of my target audience?
- What content generated the most engagement?
- Was there a difference between adverts that contained an image versus a video?
- What actions did users take once they clicked on the action button?
The Importance of Demographics For Social Media Advertising
The demographic of your target audience is important to consider when reviewing your social media advertising statistics. For example, if you are a business that caters for many age groups and locations, you may need to create multiple ads to ensure that it is clear to the consumer that the advert is for them. Therefore, review which age groups and locations engaged the most with your social media ad and identify how you may retarget this audience in future campaigns.
How To Improve Engagement Utilising Social Media Advertising Statistics
So, how can you effectively retarget audiences or reach new consumers? When reviewing the social media advertising statistics, identify the media file that was created to support the advert. For example, if there was a larger click-through rate for an advert with a 10-second video compared to a still image, you can utilise this information to generate more videos to support your social media advertising. In this way, you can identify content that is currently encouraging users to engage with your advert and continue to produce similar content to improve your ad performance.
Understanding The User Journey When Utilising Social Media Advertising Statistics
In addition to social media advertising statistics, you can utilise other resources such as Google Analytics to analyse the user journey once a consumer clicks on your action button. For example, check to see which web pages generated the most traffic and how much of this traffic came from social media.
From here, you can also compare this with the conversion that occurred, such as product purchases, sign-ups, bookings, phone calls, or enquiries. Utilising other tools to support your social media advertising statistics can help give useful insights into the user journey and identify areas of improvement to encourage more user engagement.
2. Determining The Best Way To Allocate Budgets
If you are running multiple adverts across several social media platforms such as Facebook, Instagram, TikTok, and Twitter, it can be difficult when allocating budgets to different types of content.
However, social media advertising statistics can play a significant role in helping businesses to make informed decisions regarding their budget allocation. When reviewing your budget allocations, check the engagement rates and click-through rates to identify any opportunities to increase the budget on one particular social media platform.
Why Is It Important to Monitor Budget To Improve Social Media Advertising Statistics?
For example, social media user behaviour can vary across multiple platforms. If you can identify a social media advert on TikTok which is performing better than a similar ad on Facebook, consider allocating your budget towards the advert that is proving to perform better and generate more sales and leads. By regularly monitoring your social media advertising statistics, you can identify opportunities to increase the visibility of your brand and improve your growth online.
3. Identifying Opportunities To Improve User Engagement
Social media advertising statistics allow businesses to review how many users are engaging with their adverts compared to the number of accounts that were reached. User engagement is often the most difficult goal to achieve when producing social media advertising as user-generated content (UGC) has grown in popularity and builds trust between social media users and a brand.
If your social media advertising statistics indicate that your user engagement is low, consider taking the following steps:
- Implementing user-generated content and influencer marketing to build trust with consumers and humanise the brand.
- Include both text and a voice-over in social media adverts that include video formats. This effectively communicates important information about your products or services to the user, so they have a clear understanding of what you are promoting.
- Insert a clear call to action that directly relates to your action button. For example, if your goal is to get more website traffic, include text such as “Click the button to browse our services” to encourage the user to interact with your business.
Want to learn more about social media advertising statistics? Contact ProfileTree today to discover how social media advertising can help you achieve your business goals and objectives!