Advertising on Social Media: Is It Worth It for Contractors?
Most contractors have set up business pages on social media sites like Facebook, Twitter, LinkedIn, and Houzz. But unfortunately, when it comes to marketing, managing a social media page will only take you so far. That’s why some contractors have turned to purchasing social media ads, which can further increase your online visibility.
Social Media Networks Adjust Prices
We’ve noticed that two of the major social media networks, Facebook and Twitter, have changed their rates for advertisers. Twitter is dropping its advertising rates, possibly in an attempt to capture some of the advertisers who may have turned away from Facebook. While Facebook has increased its rates by 35%, Twitter’s ad rates have dropped 81% since 2012. Interestingly, revenues for both Facebook and Twitter have increased, despite their opposing tactics.
LinkedIn has not reported any change in its advertising rates, but it has only been in the advertising business since 2012, which means that its advertising model may need fewer tweaks.
For contracting businesses, Houzz can be one of the most effective ways to capture potential clients that are already browsing the Internet for ideas on their home remodeling project. In 2013, Houzz introduced advertising opportunities for contractors, designers, architects, and other professionals. However, like all other social media networks, it’s best to spend some time establishing your presence on the site before jumping into paid advertising.
Why Social Media Ads Are Worthwhile for Some Contractors
Despite Twitter’s dropping ad rates, some business owners may scoff at the cost of social media ads. But in general, social media advertising has several advantages over traditional advertising.
- They’re targeted. By advertising on Houzz, LinkedIn, Facebook, or Twitter, you can find a network of users who are interested in your services and products. If you were to advertise in a print newspaper, for instance, only a small percentage of viewers would be drawn to your business.
- The advertiser can bid and set limits. Even with a limited budget, contractors can start a social media advertising campaign. On most social media sites, you bid on the cost per click, and you can set a daily price limit. Say you only have $20 per day to spend. No problem—just set $20 as your daily limit, and the network will stop displaying your ad after it reaches your cap.
- You get instant feedback. Social media advertising gives contractors the unique ability to change their advertising messages quickly if they’re not working. How quickly could you change a billboard if it wasn’t working?
- You only pay for clicks. Pay-per-click, or PPC , advertising enables business owners to maximize the value of their ad purchase. You only pay when people click on your ad, but the people who see your ad but don’t click on it are also receiving marketing messages about your business.
If you’re not sure how to get started with social media advertising, turn to local marketing experts for help.