FEATURE
THE VALUE OF SOCIAL MEDIA ADS
lead generation, can help determine spend and narrow focus to a specific message. The best social media ads are consistent in message and identity across platforms. Lenders should also be sure to budget for training,
By By Ruby Keys, Geraci LLP
A
goals, like awareness, engagement or
content creation, advertising costs
mid the COVID-19 pandemic,
jumped 74 percent since February,
social media has emerged as
according to a May 2020 survey
a critical marketing strategy
of more than 2,600 marketing
Armed with goals and a budget, lenders
for private lenders and brokers. Even
professionals
industries.
can start to assess which platforms
before the pandemic hit, 70 percent
Companies are now spending nearly
are best suited for the way they want
of Americans were on social media,
a quarter (23.2 percent) of their
to engage with clients and prospects.
engaging for an average of 2 hours
marketing dollars on social media,
Here is a guide to advertising on five
per day, according to the Digital
up from about 13 percent prior to
social media platforms:
2020 report from We Are Social and
the pandemic.
across
HootSuite. Now with more people at
and analysis.
1.
is
considered
the
home, inside and online, brands have
But for private lenders who typically
gold
an even greater opportunity to make
rely on face-to-face networking,
business marketing. The professional
an impression.
social media advertising can feel
networking site has more than 160
completely foreign. The best place to
million users in the U.S., and with
Many businesses anticipated this
start is by defining a strategy, starting
each of these users providing detailed
shift. Social media budgets have
with goals and a budget. Outlining
professional work history, it’s easy
30
standard
for
business-to-
