Rebroadcast Ep 11 – Advertising on Social Media
The Marketing Drive
Short marketing message that you can use right now!
Welcome to Episode 11 of The Marketing Drive with Chris Doelle.
This show is so named because I record it unscripted and unedited on my commute to work. When an idea pops in my head, I hit record. You get my off-the-cuff take on anything related to marketing your business. Be sure to send your show ideas and questions and I will use them for future shows!
Today I break down some information about advertising on social media platforms like Facebook, Twitter, LinkedIn and more.
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Today, I want to talk about advertising on some of the social media platforms. Facebook added the ability to put ads on the site that you pay for awhile back and that has some benefit. It’s a really good price. There is just some debate over whether or not there’s some value to it. I think Facebook does have some decent value. You have to be very smart about how you target, who you’re reaching and realize why you’re trying to do it. Are you doing to brand something, are you doing it to sell a widget and those kind of decisions will affect how well it works out for you. Today, I want to talk about LinkedIn because LinkedIn recently added the ability to sponsor a post or an ad and it’s a lot more expensive. I mean, I went in there, I did the free trial because they’re pushing it hard by giving out quotes, $50 with a free advertising. Of Course, this is my business, so I have to investigate it. So I did, I blew through the $50 pretty fast and then try to the couple of different other things just so that when a client comes to me and insist “Hey! I am thinking about advertising on LinkedIn, what do you think?” I know what I’m talking about. So, here for free, I had to pay to learn. Again, each of the ads are kinda expensive. If you do it in a per click, I think, depending on the demographics you are trying to reach. It can be $4 a click up to 20-30 a click or whatever depending on how specific a demographic you’re trying to reach. So, when you’re trying to brand something like I had just to test it, I had put some of these episodes of marketing drive just out there. Again, there’s no direct return when somebody clicks on it. I don’t sell something, when somebody clicks on it, they go to where they can listen to this show for free. I made no money of it. So, it’s kind of expensive to pay $5 or $6 a click for that. Also, I have tried another option by trying to sell a specific item, one of the books that I wrote, I tried to sell on there and when I did the demographics, who I wanted the type of people I wanted to target, it was saying, it will cost you $4 a click. I’m like, I’m selling this book, it’s an ebook, it’s on Amazon. I’m selling if for $599. I make when I sell that, a buck and a half, maybe $2, I don’t make much out of that. So, even if every single click that I got, somebody purchase the book which is unlikely, but even if that happened, I would be losing $2 a book. So, that’s not a good investment, so you could play around. You don’t have to take suggested amount. I think it’s said $4.40 was the suggested amount, so I make it down to $2, just to see, again $2, when my profit is about $250 is not worth it because guranteed, I’m not gonna sell a hundred percent of the clicks. So you have to pay attention to why you’re trying to advertise. What the call to action is and if it’s worth it, again, LinkedIn, much higher cost than some of the other social media marketing platforms but it would work great for something whether, let’s say you have a $200 or $500 or $3,000 item that specific people with a specific job title that is a must have for those guys, then yes, it makes sense. $4 a click is fine because if you sell 1 out of a hundred, what if you cost $400, that would be a couple thousand dollar item. You have to do the math, you can’t just say “Yes, I will try and see what happens”. That’s one of the problems with social media and the availability of all this stuff and the availability for to reach all these different people. One of the problems there, is that it’s too easy for you to get out there and try things and it always goes back to the thing I say over and over again. You have to measure, what you don’t measure you won’t know and what you don’t know you won’t be able to tell “Hey! I’m spending my money wisely or I’m spending it poorly”.
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