The social media space has become a hotbed for competition. As of 2019, 2.95 billion people around the world were on social media. Experts also project that by 2023, the number of social media users will reach 3.43 billion. Yet the social platform is not a walk in the park. Most businesses struggle with organic reach, gaining followers, and increasing audience engagement.
Can a company spend eight figures on paid ads and reap profits? According to Laura Egocheaga, paid ads remain the most powerful social media strategy that you can use. There is a reason why Google and Facebook hold the largest shares in digital ads, and this is because paid reach helps a business expand both nationally and internationally. In 2020, Google had a U.S total share of 36.3% on paid ads. Facebook ads followed Google ads at 19.9%.
A Bit About Laura
Laura Echocheaga is a serial entrepreneur and the Founder and CEO of Viral Growth Media. The company is a growth hacking digital agency that serves ecommerce, personal brands, brick and mortar businesses across the United States, Canada, and Australia.
Laura pursued online entrepreneurship from an early age. She began affiliate marketing as a side hustle while still in High School. After she made her first $20K in 6 months in 2011, she realized there was something more significant to this thing called the “internet.” Today, Laura is an internet sensation as she leads the #1 leading digital marketing agency in the country.
Laura is a web developer, investor, Facebook ads, and chatbot expert, digital marketer, and bestseller. Her book, The Small Business Guide to Social Media Marketing, became an internet sensation overnight. The book covers core matters in social media such as social analytics and reporting, developing the right strategy, and social media marketing resources for small businesses.
Why You Should Spend on Paid Ads
Laura has spent 10 million dollars profitably on Facebook in the last two years alone, with a return of 75 million in sales for clients. She says that Facebook remains the leading platform for social media marketing. Also, she advises her clients to set aside an eight-figure budget on the same.
According to Laura, there are three questions to ask yourself when it comes to paid ads:
- What is my target audience?
- What are my advertising goals
- How much am I willing to invest?
For instance, when it comes to Facebook, there is a budget-friendly pay-per-click model that ensures you never exceed your budget. Facebook is an excellent place for lead generation. You can leverage content such as product coupons, ebooks, limited-time offers, lead giveaways, plus many more. The leads you get from the platform can be nurtured using a targeted autoresponder that connects your audience to your website where they view your products.
Laura notes that you need an eight-figure budget because there are several strategies that you can use in social media that can help you get a high ROI. These strategies depend on your business niche, as well as your budget and your goals. The decision to invest in social media marketing is not simple. In most instances, business managers do not understand what content strategies will work for them. This is, in part, one of the reasons why you need to secure the services of a digital marketing agency.
When you work with a digital agency, you benefit from knowledge and experience that you do not have in your team. An expert will come with fresh ideas and skills that are not readily available in your company. Also, since there is the pressure to retain customers, an agency will do its best to not only meet but also exceed your expectations. A digital marketing agency will help you manage your budget more effectively. Therefore, when you approach Laura’s agency with an eight-figure budget, you can rest assured that they will manage your Facebook, Instagram, and Twitter.
Reaping success from social media marketing takes time. Content marketing, for instance, takes time to generate SEO traction and backlinks. When you seek a digital marketing agency’s assistance, you will get clarity on what works, how long you can measure a significant ROI, and what content appeals to your audience.
According to Laura, with an eight-figure budget, you will realize that first sales are coming in within the first month of your strategy implementation.
Are you struggling to figure out what works in paid ads? Then kindly reach out to Laura via her email.