Traditionally marketing and advertising has been geared towards television, radio, newspapers and magazines. While these platforms may still be useful on occasions there is a new platform that has proved to be more cost efficient while also reaching more people. This platform is Social Media. Other forms of advertising like TV, print and radio are geared to very specific audiences at a certain time. They are completely controlled by how many people are watching, listening, or ordering a specific magazine at the time. On the other hand, social media ads like the ones used on Facebook have algorithms that will show the ad to people more likely to be interested in your product.
Facebook has also proved that they have a far greater available audience than any of the traditional forms of marketing combined. Per Facebook’s company info, as of June of 2017 they had an average of 1.32 billion daily users, and 2.01 monthly users. That is by far the highest trafficking site on the internet and has far more viewers than any TV channel. In fact, it is nearly 20 percent of the entire Earth’s population that is on Facebook daily.
On top of having a possible audience of a billion people on any given day, social media marketing has also proven to be cheaper compared to all the other options. As the chart above tells, it is over 11 times cheaper to have social media ad that reaches 1,000 people compared to a television ad. For the same price as reaching 1,000 people with a television add, you can advertise to over 11,000 on social media. With the availability to reach the same number of people at a fraction of the cost you no longer must throw away insurmountable amounts of money into your marketing budget. With being able to reach more people at a lower cost you truly increase your marketing efficiency, and save money that can be put back into your own business or spend on more advertisements; a true win-win from a marketing standpoint.
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