As of 2019, more than 3.5 billion people in the world use social media, and this number is only growing. This equals about 45% of the current population.
So if you’re considering marketing your business through social media ads during the upcoming holiday season, you’re not alone.
But during Q4, the time went the most money is spent on advertising and gifts, is it the best idea to invest in social media advertising? That’s we’ve put together outlining three major considerations you should make: the cost, where you sell, and the importance of deals during this time.
Keep reading to learn more.
The Increased Cost
Bid prices on social media ads often go up in a big way during the holiday season. This usually averages around a cost increase of 140%.
The con here is obviously that your marketing budget is going to have to increase. You could run the same ads in the summer and pay significantly less.
But the pro is that your return on investment could increase as well. This is because people spend like crazy during the holidays.
If you want to take the risk, look at your social media advertising budget now. Allocate 25-30% of your yearly ad budget to the holidays alone and see how things go for you this year. You can then adjust accordingly for next year.
Digital vs In-Store Shopping
Next, it’s important to consider how you sell your products. Do you have a brick or mortar store where you interact with customers? Do you sell online on your website or through Amazon?
Perhaps you do a combination of both.
It’s important to note that digital sales continue to increase when it comes to holiday sales. In 2019, 53% of all holiday shopping happened online, a huge increase from 5 years ago.
So if you only sell in a physical location, holiday social media advertising may not be the best option. But if you do sell online and can create an eye-catching ad that stands out from the crowd, you could benefit in a big way from Black Friday, Cyber Monday, and Christmastime sales.
Deals, Deals, Deals
Holiday shopping has become known for one big thing: the best deals of the year. We’ve all seen the low prices on TVs, clothes, and electronics that come around on Black Friday and Cyber Monday.
Because of this, you must consider offering a deal in your holiday social media advertising.
The benefit of doing so is that sales, discounts, and promos are one of the biggest factors when consumers are deciding whether or not to buy. This, combined with the increased sales opportunities of November and December, could mean massive sales numbers.
The con is that you might make less per sale since you’re including a deal or coupon.
Often, though, it’s worth it during this time of year.
Social Media Advertising During the Holidays
There you have it: your guide to social media advertising during the holiday season. Now it’s time to make a decision for your business.
Looking for social media marketing services? Contact our team today.