Did you know that social media ad spending in 2020 added up to $132 billion? And it’s growing. According to Statista, for instance, the tally is expected to soar north of $200 billion by 2024.
The U.S. is, by far, the largest social media ad market worldwide. However, that doesn’t mean that marketers in other nations aren’t taking advantage of social media platforms as well.
But here’s the thing. Even the most tech-savvy companies with marketing departments staffed with whip-smart people typically make some common mistakes. The problem? You don’t want to waste your marketing budget by making easily avoidable blunders.
Keep reading to learn about three social media marketing mistakes you might be making. You’ll also learn what to change to make the most of your social media marketing efforts.
Mistake #1: Failing to Plan
One of the worst things you can do is launch a social media marketing campaign without adequate planning and preparation. The old saying that failing to plan is like planning to fail rings true even in the digital age. It might seem obvious to devise a strategy, but many companies fail on this crucial point. If you don’t have a plan, you might be throwing good money after bad.
When planning, write down specific objectives you want to accomplish, how you plan to get there, how long the campaign will last, and how much money is needed for the campaign. It’s also important that you figure out how to measure the results of your marketing campaign. How else will you know whether or not it was successful or if you need to pivot mid-campaign?
Mistake #2: Failing to Define Target Market
Another common social media marketing mistake that many businesses make is failing to define their target markets properly. Different strategies will work better with different target demographics. So, before you earmark a single dollar for your campaign, figure out your target audience. That’s the only way you can put together a strategy that makes a significant impact.
When you take the time to define your target demographic, you’ll also be able to choose the social media platforms that will best align with your objectives. There are tons of social media sites, and more are popping up every day. But some social media platforms appeal to some demographics more than others. Knowing your audience will help you select the right platforms.
Mistake #3: Failing to Track Analytics
If you’re going to launch a social media marketing campaign, you need to track analytics. As mentioned above, tracking this information is how you can assess performance. If you’re going to dedicate funds to digital marketing, you’ll want to know the following:
- Who is responding?
- Which ads are people clicking on or engaging with?
- How long are people staying on specific pages?
What can be measured should be measured. Your company can draw on the data extracted from the analytics to fine-tune your social media marketing efforts. What you do with the analytics can make or break your social media marketing strategy.
One thing to consider is the importance of having an effective website to direct people back to. Failing to have a professional website that scores high on aesthetics, layout, loading speed, and other important factors will limit the effectiveness of your social media marketing efforts. It’s one reason to consider retaining the services of a web design agency.
Outsourcing is important when you don’t have the in-house talent. You might also need the services that a custom software development company offers.
These are just a few examples of some of the most prevalent social media marketing mistakes that many businesses–big, large, and in between–typically make. Since you don’t want to jeopardize your marketing efforts, you’ll want to avoid these and other mistakes.
You’ll then be able to leverage the power of social media to effectively and efficiently market your company.