Is Twitter Advertising Becoming More Viable for Small Business?
Twitter ads have not seen as much participation from small businesses as other forms of paid social media promotion, such as promoted posts on Facebook, but there may be more movement towards this medium as Twitter has announced that its advertising plans are getting cheaper, and will most likely continue to do so. Smallbiztrends.com reported on the drop in cost, which is potentially due to fine tuning of the algorithm that Twitter uses to manage digital impressions, one of the main ways that digital advertising is priced, as well as a re-evaluation of who their core advertising demographics will be in the future and how to meet their price points. While small business owners might want to evaluate where to begin digital marketing, twitter ads can be a powerful tool when applied by a marketing team with focus and data backed strategy.
Finding the right value for your small business. Whether you are excited by the prospect of advertising on twitter or not, a word of caution must go with this news. Small business owners should look before they leap, so to speak, and avoid moving to twitter ads unless they feel that they will be able to reliably reach their target demographics on twitter. A small business that mainly targets millennials might find a large group of its core demographic on twitter who respond well to their sponsored posts. On the other hand, small business owners in other industries might not be able to justify the cost of twitter ads due to the relative scarcity of their target customers on the site. Smallbiztrends pointed out the not quite encouraging fact that twitter’s user growth in the US has seemingly stabilized, and that indicators of engagement such as page refreshing has seen a decline. This means that small business owners who feel their user base is already engaged and heavily present on twitter have cause to be happy, as they will be getting a better deal on something that to them has a solid value and return potential, but businesses that are attempting to establish social media footholds while seeking out new business might be disappointed by a less than optimal return.
If you don’t know, now is the time to figure out if your customers are twitter users. Doing market research to discern whether or not your user base can be found on twitter is prudent before you dip your toe into paid twitter ads. Since at this point their relatively high price has kept them mostly in the toolbox of larger corporate brands, you should also consider what your primary goal will be if you do decide to deploy some paid marketing. The nature of twitter is both liberating and restrictive to small businesses, as they have only a limited number of characters to work with, and even less if they choose to incorporate a link into their sponsored tweets. The upside to this is that a simple, yet well thought out message can easily gain a lot of traction and the simplicity of sharing a tweet makes it more likely that retweets can stack up in your favor. Promoting from a place of knowing your audience is out there is much different from promoting hoping to bump into your sweet spot. It’s better to apply capital towards market research that can be used to provide real insights as opposed to paying for impressions with the hopes that something good will show up in your analytics.
Photo Credit to Kooroshication on Flickr