Two of social media’s Big Three are now selling ad space. Twitter has announced that, although it is looking for a means of monetization, it will not compete in that arena.
Facebook and MySpace have advertising distribution programs that are very similar, at least on the surface. Rather than incorporating advertising in their search functions, a model which most of us in Internet marketing are experienced, their platform allows demographic targeting.
These models present two challenges (or are they opportunities?) that require an expansion of the skill sets of an online entrepreneur. First, while most of us have a gut feeling for the demographics of our niches, few of us have actual data confirming our assumptions. Second, most of the advertising that most of us have done with our online businesses has been targeted toward people who already have a predisposition toward our product or information. After all, we advertise to our prospects when they have taken the initiative to search for related products or information.
Such is not the case with the Facebook and MySpace models. Our ads will appear on pages that are primarily viewed as social venues. Much as the businesses that advertise on television invade the living rooms of their audience, so too do the ads on these media invade the personal space of their targets. When a user enters a search query, they truly want their problem solved, their question answered or their need met. The user of the social media platform may have the same problem, question or need, but they are probably not visiting Facebook or MySpace hoping for a solution.
We each went through a learning curve with search marketing. We must be willing to undergo a similar learning period if we hope to achieve a suitable ROI from our social media advertising efforts. The first step is to admit our ignorance. We may believe that we know our target demographic, but we need to test that belief. We may believe that we know how to take advantage of social spaces, but we must try various approaches. And before we rush out to buy the latest hot product that is going to definitely teach us how to use advertising on social media to make a fortune, we need to remember that each niche is likely to be different, each demographic unique.
There are no shortcuts. Hypothesize, test, track, revise ad nauseum. Here we go again.
A little offtopic reply, Im using the new google chrome browser, but it looks like your website is not displaying correctly… Just to let you know. Thanks.
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[...] Social media advertisers also see huge benefits from the sites. That’s because these sites take care of the hardest part of advertising for them: finding the client. They don’t have to run a radio ad for a product and hope that the right person hears it. Thanks to social networking sites, they can have their ad appear right on the page of people who fit key demographics. A company that sells saddle soap can send an ad to anyone who lists “horseback riding” under their activities or hobbies. The result is the ability to achieve previously unknown efficiency with ease. [...]
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