The Best Social Ad Practices In A Down Economy
NEW YORK, NY / ACCESSWIRE / May 25, 2022 / With massive increases in consumer goods and services reported in the first two quarters of 2022, many businesses are assessing adjustments to the prices of product offerings and how to budget for new customer acquisitions. Arthur Freydin, a performance marketing specialist and the CEO of Tandem Marketing in New York City, reports that ad testing and the strategic use of high-performing ads are more important than ever to connect with cash-strapped consumers and other businesses.
Arthur Freydin looks at the numbers
According to April 2022, Emplifi report examining Q1 digital advertising spend and engagement, ad spend was down overall compared to the prior quarter but still outpacing numbers for the same period in 2021. The same report also points to a decline in consumer engagement and click-through rates across web-based advertising.
However, within these stats, individual social platforms experience variations, and Instagram engagement remains steady with stories providing unique opportunities for repeat engagement. Arthur Freydin’s Tandem Marketing specializes in social media advertising and growth consultation for e-commerce businesses, particularly small businesses looking to grow rapidly.
Audience testing is essential
With down engagement on some social platforms, flat engagement on others, and economic concerns, it is essential for growing businesses to develop and retain a research mindset to find an ad mix that works and only switch it up as needed based on performance statistics. At Tandem, Arthur Freydin uses a tested five-pillar approach known as BASIC.
It starts by establishing baselines for return on investment and acquisition, then moves into the creative process of designing ads that get noticed. This lowers the cost of acquiring new customers. Winning ads received an increased presence and low performers are cut. New ads build on previous successes to keep lowering costs and drive revenue.
Remember the economy isn’t the only factor
Research also extends past ad analysis only to include staying up-to-date on the latest changes impacting social and web-based ads.
When the economy is down, it can be easy to attribute almost any decline in ad returns or business profits to the economic situation. However, other factors are still in play and maybe contribute to variations in performance. As higher gas prices and food costs started taking a toll on the consumer market in early 2022, privacy-setting changes released in an Apple iOS update led to increased costs for many Facebook advertisers according to Arthur Freydin.
It would be easy to attribute the entire swing in price during this time period to an economic event, but the situation is more complex. The use of a dedicated ad team can help identify the full range of factors impacting cost. Professionals can also help pivot ad spending and redesign an advertising approach with regulatory changes in mind.
CONTACT:
Caroline Hunter
Web Presence, LLC
+1 7865519491
SOURCE: Tandem Marketing
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Originally published at https://www.yahoo.com on May 25, 2022.
