One of the biggest challenges that business owners experience is allocating their marketing budget efficiently in order to get the best return on investment. Today it has become essential for businesses to develop innovative ways to reach consumers. Choosing to implement a strategic social media plan can help your business grow and become more profitable.
Since the dawn of advertising, traditional media such as direct mail, radio and TV have proven to be valuable promotion channels to reach consumers. The problem with traditional media is that it can be difficult to track, it is non-reciprocal and often yields short term results. A common metric to track advertising is CPM or cost to attain 1,000 impressions. Average CPM is $450.00 when using direct mail, $140.00 for radio and $30.00 for a prime time TV. Compared to traditional media, social is measurable, interactive and relatively inexpensive.
Recently my team at Bright Age worked on building a Facebook community for Dog Haus, a fast casual restaurant in Canoga Park, prior to the opening of their first franchised location. Our objective was to introduce a new community to the Dog Haus brand, develop relationships and build buzz leading to a huge grand opening event. Our strategy consisted of posting a teaser and other engaging content to build anticipation for the upcoming special offer, while continuously monitoring and responding to fans on the page, ensuring that all customer questions and concerns were addressed timely and professionally. Through this marketing strategy we created an online community where Dog Haus fans could come to interact with the brand.
We ran several types of Facebook ads to raise awareness, including a Page Likes Campaign and Boosted Posts. We segmented our messaging into two age groups: adults and students. The hyper-targeting abilities of social media allow us to display one style of ad to adults, and another style of ad to students. This messaging strategy along with the ability to A/B test our advertisements allowed us to achieve Page Likes for at a minimal cost. We also receive higher interaction rates on our Boosted Posts by displaying relatable images to the targeted audience. By segmenting our target audience in ways that are impossible through traditional media, we received greater conversion and engagement.
After acquiring new Facebook followers, we kept our community engaged and growing by developing creative social media posts that are both attention-grabbing and generate prompt engagement. We posted daily content featuring delicious menu items, special offers, fan photos, surveys, and more to bring the brand to life and create an active online channel.
Our social media marketing strategy led to 673,900 impressions generated in the first month, as well as over one thousand meals served on grand opening day. While it would take an extensive marketing budget to reach this large of an audience via traditional media, Dog Haus was able to acquire this reach at just $5.19 per 1,000 impressions. This cost includes the ad spend utilized for Facebook ads in addition to the cost of all services provided by Bright Age, and yet it is still only one sixth the cost of the average CPM of prime TV, the least expensive of the traditional medias.
Advertising and marketing are constantly evolving, as seen by internet advertising revenue surpassing television, radio, and newspaper in 2015. Bright Age is passionate about social media and digital advertising, with experience building a social presence for local and national brands. We have the ability to develop a comprehensive media campaign with proven results.