30 Jun The Importance of Diversifying Your Paid Media Strategy
The world of social media marketing is never a dull one, and as the networks continue to evolve and roll out new changes, your paid media strategy must also be adjusted. This has particularly come into play this year with the iOS.14 update. Facebook has very publicly battled with Apple over this update and the negative effects it will have on both Facebook and Instagram advertising, however, every single social media network is being affected.
Since the update has rolled out, data from early May tells us that app tracking has only a 5% opt-in rate, which has caused many advertisers to focus on Android-only advertising tactics. However, this work-around won’t last long as Google has also announced plans to allow Android users to opt out later this year.
Knowing this, it’s important that your business adjusts your paid media strategy now to diversify your investments across those social media networks that play towards the business objectives you’re hoping to achieve. Too often are businesses only running ads on Facebook and/or Instagram, but advertising capabilities on other networks are becoming more and more robust. Not to mention that Facebook has requirements for running ads while other networks do not (and these other networks have better systems in place to help troubleshoot issues vs Facebook).
Below, our team of media buying experts outlines the paid advertising strengths of each network to help you prioritize which channels to invest in moving forward.
Snapchat
Strengths: Robust Audience Targeting & AR Ads
Snapchat has an impressive suite of targeting capabilities available that many marketers aren’t taking advantage of. From interests, to behaviors, to location targeting and more, their robust audience targeting has seriously impressed our media buying team.
Additionally, as augmented reality continues to ramp up, Snapchat is ahead of the game when it comes to their AR ads in that they have templates available to help simplify the process for any brand. AR ads can be difficult, but Snapchat makes the process quite easy.
More Information About Snapchat Ads:
Strengths: Driving Web Traffic & Shopping Features
Pinterest isn’t always making headlines, but the network is certainly effective at driving website traffic. For ads specifically, Pinterest allows for efficient cost per landing page visit which drives huge value in the awareness phase of campaigns.
Pinterest’s strength also lies in the multiple shopping-supportive features that they tout, features that can of course be included in ads. Shopping lists, for example, are a new feature that allows users to virtually shop based on saved product pins.
Lastly, Pinterest is launching Business Access, a new tool to help you easily manage the people and partners who work on your Pinterest ad accounts — all from a single place. Business Access will be replacing the previous multi-user permissions tooling this year.
More Information About Pinterest Ads:
Strengths: B2B Targeting & Insight Tag
While this may seem a bit obvious, LinkedIn is one of the only platforms that allows you to target specific job titles, which gives it a huge advantage in the B2B space. LinkedIn also offers an insight tag (similar to the Facebook Pixel) that can provide your marketing teams with really insightful and unique data that’s not available on Google Analytics.
More Information About LinkedIn Ads:
Strength: Cost Efficient
Twitter’s ad manager is one of the more cost-efficient tools that our team has seen. Running ads natively, you’re able to better manage the spend of your campaign and more efficiently allocate your budget as needed.
More Information About Twitter Ads:
Strengths: Contextual Targeting & Brand Safety
Reddit uniquely has Subreddits where we’re able via advertising to tap into communities we wouldn’t typically be able to reach. It’s become one of the most efficient platforms for contextual targeting.
Also, contrary to popular belief, Reddit has an impressive monitoring system in place. They have spent years vetting through where advertisers land. Did you know they don’t even take political ads? We think this adds to the brand safety they offer.
More Information About Reddit Ads:
Facebook & Instagram
Strength: Native Tools
While the point of this post is to focus on diversifying your channels, we still feel it’s important to call out Facebook for how well-developed their native advertising tools are. Facebook’s Business Manager has gone through many iterations over the years, and while it can be a challenge to learn, once your team has a thorough understanding of its functionality, they can easily master anything that comes their way.
More Information About Facebook & Instagram Ads:
So with all that said, keep an open mind to including additional platforms into your paid media strategy. Each platform has strengths and advertising capabilities that can help not only diversify your channels but optimize your current business.
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